$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. 🤔
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. 🤔
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