To be honest, I keep wondering if trading volume is the wrong place to look for $DUSK utility. A regulated asset can trade once, then keep creating work for years.

Think about what happens after issuance. Ownership changes. Eligibility gets checked. Cash and securities settle. Dividends move. Corporate actions happen. Someone eventually needs proof for reporting or review. On the surface these look like separate financial processes. Onchain, each can become another transaction consuming gas.

That makes $DUSK gas demand look less like a trading meter and more like a financial workflow meter.

One asset with low secondary volume could theoretically create more recurring network activity than a heavily traded token if its lifecycle keeps producing required actions. And required matters here. A speculative trade can disappear when attention leaves. A dividend or ownership update cannot simply be skipped because the market got quiet.

But I think this only becomes meaningful if those workflows actually settle on Dusk. If institutions still perform compliance checks, servicing, reporting and cash coordination somewhere else, the chain records only fragments of the lifecycle.

So maybe the metric worth watching isn't transactions per second.

It is transactions per asset, per year.

If that number keeps rising without needing speculative volume, that is where Dusk gas utility starts to look different.
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