A few days ago at a gym in Shanghai, I ran into a guy who works in traditional supply chain finance. He was extremely envious of the liquidity in Web3, but after chatting for a while, he was too scared to enter the market. The reason is blunt and realistic: running a business on the current public chains requires that all financial flows and core customers be 'exposed' on-chain, which is no different from displaying a company's financial records on a big screen on the Bund.
This is actually the biggest deadlock in the current crypto circle — retail investors always think that what’s lacking on-chain is TPS, but what traditional large funds lack is 'business security.' This is also the core logic behind my recent heavy research on @MidnightNetwork .
Don't treat it like Monero, a pure dark web coin that dies in the light. Midnight is selling a compliant entry ticket — 'rational privacy.' Its underlying dual-state ledger combined with ZK technology is equivalent to building a password-protected safe on-chain for you. When facing tax compliance or institutional asset verification, you provide a 'viewing key' for targeted 'selective disclosure'; normally, against on-chain crawlers from competitors, your trump cards are kept tightly secured.
The smartest part is its dual-token anti-dilution system. $NIGHT is used to capture value, and staking it will continuously produce DUST to pay for gas fees. DUST cannot be speculated on and will automatically decay, which completely separates 'development costs' from 'speculative trading,' allowing real business entities to keep their accounts clear.
However, in the blockchain circle, even the most attractive grand narratives can easily become mere hot air. My trading discipline is extremely cold-blooded: I don't look at promises, only focus on the real buy rates from large B-end clients. As long as the mainnet is launched, if no leading RWA institutions use their keys for audits with real money, and if there are no real on-chain consumption scenarios for DUST fuel, the value flywheel won't start spinning.
—— Sixteen
