3 a.m., the stop-loss order no one saw...
Imagine this: ETH suddenly wicks down in the middle of the night. You have a position and want to set a stop-loss, but you're worried a bot will sniff it out and front-run you. Placing an order manually is like showing your hand, while CEX stop-losses can't go on-chain. What can you do? Set up a Covenant in advance: if ETH drops below 2,300, automatically sell 50. Until the condition is met, nobody on the network knows what the instruction is.
That’s what @Nillion Covenants aims to do: encrypt trading intent, then decrypt and execute it only when the conditions are met. It uses threshold cryptography to split the secret among a group of nodes. Once enough nodes confirm that the trigger condition has been met, each publishes a share on-chain, and anyone can reconstruct it and execute the instruction. No keeper, and no single trusted party.
Dusk is its first version on Ethereum. I checked the official public information: it launched on mainnet on September 28, 2026. Nodes must stake at least 70,000 NIL, and rewards come from 0.5% annual inflation plus trigger fees. The roadmap has seven phases: Dusk, Darkfall, Skyglow, Nightside, Neon, Aurora, and Moonshine. Covenants is designed as a cross-platform overlay, so there’s no need to migrate. Developers can connect using the TypeScript SDK, with identity-based encryption running under the hood.
What I like most is the “privacy overlay that requires no migration.” You stay on Ethereum, keep DeFi composability, and add privacy on top. Until now, you either had private RPCs that only hid transactions from the mempool, or you had to move to an entirely different chain. Covenants takes a middle path: keep the ecosystem and encrypt the trading intent itself. Lowering the barrier could make privacy an everyday tool. Don’t you think?
#nil $NIL
Imagine this: ETH suddenly wicks down in the middle of the night. You have a position and want to set a stop-loss, but you're worried a bot will sniff it out and front-run you. Placing an order manually is like showing your hand, while CEX stop-losses can't go on-chain. What can you do? Set up a Covenant in advance: if ETH drops below 2,300, automatically sell 50. Until the condition is met, nobody on the network knows what the instruction is.
That’s what @Nillion Covenants aims to do: encrypt trading intent, then decrypt and execute it only when the conditions are met. It uses threshold cryptography to split the secret among a group of nodes. Once enough nodes confirm that the trigger condition has been met, each publishes a share on-chain, and anyone can reconstruct it and execute the instruction. No keeper, and no single trusted party.
Dusk is its first version on Ethereum. I checked the official public information: it launched on mainnet on September 28, 2026. Nodes must stake at least 70,000 NIL, and rewards come from 0.5% annual inflation plus trigger fees. The roadmap has seven phases: Dusk, Darkfall, Skyglow, Nightside, Neon, Aurora, and Moonshine. Covenants is designed as a cross-platform overlay, so there’s no need to migrate. Developers can connect using the TypeScript SDK, with identity-based encryption running under the hood.
What I like most is the “privacy overlay that requires no migration.” You stay on Ethereum, keep DeFi composability, and add privacy on top. Until now, you either had private RPCs that only hid transactions from the mempool, or you had to move to an entirely different chain. Covenants takes a middle path: keep the ecosystem and encrypt the trading intent itself. Lowering the barrier could make privacy an everyday tool. Don’t you think?
#nil $NIL