Let me explain why your stop loss is basically a public confession.
On a transparent chain your intent sits in the open before it executes. Everyone can see where your stop is. That is why liquidation maps and stop hunts exist, and why a strategy can be copied before it ever fires. Most privacy talk is about hiding who sent what to whom. This is a different problem. It is about hiding what you plan to do.
Here is where Covenants come in. @Nillion built them as an instruction sealed to a condition. You post it on Ethereum in encrypted form and nobody can read it until the condition is met. The simple way to think about it is a locked envelope that only opens when a certain price or time shows up.
So who opens it? Not a bot. Not a keeper. Not some trusted third party. A network of staked nodes each holds just one piece of the key. No single operator can open it alone. When a live data feed shows the condition has been met the nodes decrypt it and the instruction fires.
That makes a few things possible today. A stop loss nobody can hunt. A sealed auction bid. A prediction you can prove later. A payment that releases itself.
Here is what I find most interesting. Dusk is live on Ethereum mainnet but it is only era one of a seven era roadmap. The scope is deliberately narrow. Early Covenants are not cancelable once posted. Nillion says more releases are coming before year end. So this is a starting point more than a finished product.
What do you like most about Covenants? And which future capability are you most excited to see?
#nil $NIL @Nillion
On a transparent chain your intent sits in the open before it executes. Everyone can see where your stop is. That is why liquidation maps and stop hunts exist, and why a strategy can be copied before it ever fires. Most privacy talk is about hiding who sent what to whom. This is a different problem. It is about hiding what you plan to do.
Here is where Covenants come in. @Nillion built them as an instruction sealed to a condition. You post it on Ethereum in encrypted form and nobody can read it until the condition is met. The simple way to think about it is a locked envelope that only opens when a certain price or time shows up.
So who opens it? Not a bot. Not a keeper. Not some trusted third party. A network of staked nodes each holds just one piece of the key. No single operator can open it alone. When a live data feed shows the condition has been met the nodes decrypt it and the instruction fires.
That makes a few things possible today. A stop loss nobody can hunt. A sealed auction bid. A prediction you can prove later. A payment that releases itself.
Here is what I find most interesting. Dusk is live on Ethereum mainnet but it is only era one of a seven era roadmap. The scope is deliberately narrow. Early Covenants are not cancelable once posted. Nillion says more releases are coming before year end. So this is a starting point more than a finished product.
What do you like most about Covenants? And which future capability are you most excited to see?
#nil $NIL @Nillion