The first thing Dusk actually shipped at scale wasn't privacy — it was disclosure. NPEX moved roughly $300M in tokenized securities onto Dusk, and the headline feature doing real work there is selective disclosure, not the zero-knowledge confidentiality the project leads with in every explainer. #dusk markets itself around "privacy-preserving finance," but the live use case is closer to "transparency, gated by permission" — regulators and custodians see what they need to see, everyone else sees less, and the ZK machinery mostly exists to make that gating provable rather than to hide activity outright. Zedger, the module meant to deliver full privacy-preserving issuance and settlement, is still listed as a later-phase rollout, while the custodian-integration and clearance features went live first. So the institutions get compliant visibility now; the actual privacy layer for ordinary participants is a roadmap item. It's a reasonable sequencing decision if you're building for banks, but it inverts the story told to token holders. Makes me wonder who "privacy-preserving" is actually for in year one — the asset holder, or the entity auditing them.
@Dusk_Foundation $DUSK