#night $NIGHT I have continuously tested for 7 days the on-chain privacy subscription payment contract template launched by Midnight. The official white paper clearly states, "The subscription period is fully protected in privacy, payment amounts are encrypted, automatic deductions have zero leaks, and merchants cannot track user consumption behavior." The head of IOG's DeFi ecosystem emphasized in last week's community AMA that this template is the "first native privacy subscription solution in Web3, completely solving the pain point of user privacy leakage in on-chain payments." I built a test subscription contract using the official template, initiated 36 subscription openings, automatic deductions, and cancellation operations, recording the time taken, success rate, privacy traces, and DUST consumption throughout, and the results were worlds apart from the promotional claims.
The actual test showed that the average time to open a subscription was 4.7 seconds, which is more than 4 times the official claim of "on-chain within 1 second"; out of 36 operations, 5 automatic deductions failed, with a failure rate of 13.9%, and the failure still incurred a contract execution fee of 3.1 DUST, accumulating a total ineffective consumption of 34 DUST over 7 days. More critically, there was a privacy leak; by analyzing through the block explorer, I could clearly see the subscription period, deduction frequency, merchant address, and even deduce all user subscription consumption behavior through the sequence of deductions. The so-called "full privacy" is completely unfounded.
Friends working on Web3 payment security told me: "Current subscription payments only encrypt the deduction amount, all transaction metadata is exposed, which is essentially no different from ordinary on-chain transfers and cannot protect user consumption privacy at all." I also found that automatic deductions support a maximum of 12 cycles; exceeding this will cause an error, and this limitation is not mentioned at all in the documentation.
Currently, this template cannot achieve even basic privacy and usability. I have deleted the test contract and hope the official team will reconstruct the metadata obfuscation logic, optimize the stability of automatic deductions, and implement fee waivers for failures in Q2, otherwise the narrative of privacy payments is just empty talk. #Midnight $NIGHT
The promise of scalability has become empty talk, TPS is insufficient #btc $BTC
1/10@MidnightNetwork
