Boreas RC1 just went live as Dusk’s final major testnet milestone before full regulated rollout.
Meanwhile, NPEX is already targeting €300M+ of tokenized assets for on-chain trading.
$DUSK still sits near a ~$59M market cap.
Is the market underestimating regulated RWA infrastructure, or waiting for actual usage to arrive?
Dusk is building a Layer-1 designed specifically for regulated financial markets.
The focus is bringing securities, RWAs, and institutional settlement on-chain while preserving privacy and compliance.
Its stack includes:
• Privacy-preserving smart contracts
• Zero-knowledge compliance proofs
• Native issuance and settlement
• Institutional custody infrastructure
The key difference is that Dusk is targeting regulated securities markets directly rather than general-purpose DeFi.
That puts it closer to traditional capital markets infrastructure than most crypto-native RWA projects.
The NPEX partnership is important because it provides a regulated venue for tokenized securities instead of relying solely on off-chain arrangements.
There are still execution risks.
Despite the regulatory progress:
• DuskTrade remains scheduled for later rollout
• DuskEVM is still pending deployment
• Current DeFi activity remains limited compared to larger RWA ecosystems
Ownership concentration is another factor.
The top 10 holders reportedly control ~79.5% of supply, while the protocol still has room to expand toward a maximum supply of 1B tokens.
At the same time:
• No major exploit history surfaced
• No public team misconduct emerged
• Most early allocations are already unlocked
🪙Tokenomics
• Price: $0.11
• Market cap: $58.8M
• Circulating supply: 497M
• Total supply: 500M (max 1B)
Always take whatever you read on the internet with a pinch of salt, do your own research, NFA.
