$NIL is sitting near $0.088 today, well off the roughly $0.14 it touched in late September.
I didn't open the chart, though.
Instead I went back through the @Nillion Covenant docs, because one design choice keeps bugging me.
Once a Covenant is posted in Dusk, it can't be cancelled. The first release also caps conditions at 30 days.
Everyone's pitching "a stop-loss nobody can hunt," and I get the appeal. Hidden intent is a real edge. But a sealed order you can't pull is a different animal from a stop you can move when the market changes its mind. You're trading flexibility for secrecy, and I'm not sure most traders have priced that in. ๐ค
That's the risk I'd watch, more than node count. The product only works if people size these instructions like commitments, not like normal orders. I'd expect a few painful lessons early.
What I'm tracking is whether early usage leans toward clock-based releases or real price triggers. That split would show whether anyone trusts it with size yet.
Which Covenant use case survives the no-cancel rule better: sealed auction bids or stop-losses?
#Nillion #NIL #EncryptedMarkets #Privacy #Dusk
I didn't open the chart, though.
Instead I went back through the @Nillion Covenant docs, because one design choice keeps bugging me.
Once a Covenant is posted in Dusk, it can't be cancelled. The first release also caps conditions at 30 days.
Everyone's pitching "a stop-loss nobody can hunt," and I get the appeal. Hidden intent is a real edge. But a sealed order you can't pull is a different animal from a stop you can move when the market changes its mind. You're trading flexibility for secrecy, and I'm not sure most traders have priced that in. ๐ค
That's the risk I'd watch, more than node count. The product only works if people size these instructions like commitments, not like normal orders. I'd expect a few painful lessons early.
What I'm tracking is whether early usage leans toward clock-based releases or real price triggers. That split would show whether anyone trusts it with size yet.
Which Covenant use case survives the no-cancel rule better: sealed auction bids or stop-losses?
#Nillion #NIL #EncryptedMarkets #Privacy #Dusk