#NIL ’s Covenants may be one of the most undervalued narratives this year.
Transparency in on-chain markets is a double-edged sword. Once an order is written into a contract, it becomes public, allowing others to front-run it before its conditions are met. Stop-losses are also exposed and therefore easiest to target. Nillion’s solution is called Covenants: encrypt and seal an instruction, then automatically decrypt and execute it only when the conditions are met. No one can read its contents in advance. It’s like hiding “trading intent” on-chain, too.
Progress has been steady. Dusk went live on Ethereum mainnet in late September. On October 5, the Blacklight verification layer launched, requiring node operators to stake 70,000 $NIL ; enterprise nodes include Deutsche Telekom and Alibaba Cloud. The old L2 is being phased out, with assets gradually migrating to Ethereum. In November, Darkfall will extend Covenants to multiple EVM chains.
The price, meanwhile, remains cool: $NIL is currently at 0.083, up 3.2% over 24 hours, with roughly $3.3 million in trading volume—far from the level of excitement this narrative should be generating. My take: with infrastructure narratives like this, tracking node counts and real-world applications is more useful than watching the daily chart. I’m bullish on the direction, but assets with concentrated holdings are never gentle when they move, so keep position sizes small. @Nillion
Transparency in on-chain markets is a double-edged sword. Once an order is written into a contract, it becomes public, allowing others to front-run it before its conditions are met. Stop-losses are also exposed and therefore easiest to target. Nillion’s solution is called Covenants: encrypt and seal an instruction, then automatically decrypt and execute it only when the conditions are met. No one can read its contents in advance. It’s like hiding “trading intent” on-chain, too.
Progress has been steady. Dusk went live on Ethereum mainnet in late September. On October 5, the Blacklight verification layer launched, requiring node operators to stake 70,000 $NIL ; enterprise nodes include Deutsche Telekom and Alibaba Cloud. The old L2 is being phased out, with assets gradually migrating to Ethereum. In November, Darkfall will extend Covenants to multiple EVM chains.
The price, meanwhile, remains cool: $NIL is currently at 0.083, up 3.2% over 24 hours, with roughly $3.3 million in trading volume—far from the level of excitement this narrative should be generating. My take: with infrastructure narratives like this, tracking node counts and real-world applications is more useful than watching the daily chart. I’m bullish on the direction, but assets with concentrated holdings are never gentle when they move, so keep position sizes small. @Nillion