Recently, the troubles in the crypto world and the new opportunities have come together, and I really feel it deeply. On one side, the Venus protocol has had liquidation anomalies, with dust transfer poisoning attacks increasing more than sixfold, and our retail orders being outrun by MEV bots, with our positions being stripped bare has become commonplace; on the other side, the RWA market is booming, having increased more than three times in a year, and institutions are flocking to it, yet the core old problems remain unresolved.

In short, it's a deadlock: the ledger is fully public, our trading secrets and companies' business secrets are exposed; if all the information is hidden, it can't pass the industry's universal rules, and now the global compliance framework is tightening more and more, this path is simply impassable.

And @MidnightNetwork 's "rational privacy" just happens to break this deadlock. Its logic is particularly grounded: it only proves that you are doing things according to the rules, and absolutely does not expose your financial details. Just like when you rent a car, you only need to show the owner your driver's license and deposit proof, without needing to expose your salary statements and home address.

$NIGHT 's dual ledger design stores only verifiable credentials on-chain, with sensitive data entirely in your own hands; the dual currency design further avoids the pitfalls of skyrocketing fees and resource hoarding. Whether it's protecting retail investors from being harvested, or institutions implementing RWA, it just happens to hit the industry's most painful points. In the current trend of compliance becoming paramount, those who can balance privacy and universal rules are the ones who can truly go far. #night