#dusk $DUSK @Dusk
Spent the afternoon poking around Dusk Trade's waitlist page again, because I couldn't remember if DUSK's testnet had moved past the permissioned pool stage. Pulled up the docs, then the dashboard, then the tokenomics page. The pitch hasn't changed: compliant, on-chain securities settlement, institutional rails, all very tidy. TVL on the testnet sits around $4.2 million, up a bit from last month, which felt fine. What actually stopped me though was the unlock schedule, 38 million tokens due in six weeks, against a circulating market cap of roughly $61 million. Hold up, that's not small next to daily volume, which has been hovering near $900k. Hmm. The infrastructure keeps talking compliance and gradual rollout, but the token math doesn't look built for gradual anything. Grabbed a snack, came back, still chewing on this one. It's that gap that actually stuck with me. Does it close before the unlock, is it just how the design works, or does it only become visible once it's already happened?
Spent the afternoon poking around Dusk Trade's waitlist page again, because I couldn't remember if DUSK's testnet had moved past the permissioned pool stage. Pulled up the docs, then the dashboard, then the tokenomics page. The pitch hasn't changed: compliant, on-chain securities settlement, institutional rails, all very tidy. TVL on the testnet sits around $4.2 million, up a bit from last month, which felt fine. What actually stopped me though was the unlock schedule, 38 million tokens due in six weeks, against a circulating market cap of roughly $61 million. Hold up, that's not small next to daily volume, which has been hovering near $900k. Hmm. The infrastructure keeps talking compliance and gradual rollout, but the token math doesn't look built for gradual anything. Grabbed a snack, came back, still chewing on this one. It's that gap that actually stuck with me. Does it close before the unlock, is it just how the design works, or does it only become visible once it's already happened?