Many people say Dusk is a doer, much better than those who are just lying flat and making money, and I agree with this. It hasn't been idle, fiddling with technology, forging partnerships, and pushing for trials every day. But the more I look at it, the more I feel that all this busy work is in vain, like a guy without direction, learning whatever others do, without any unique skills of its own; no matter how hard it tries, it can only eat others' fumes, and sooner or later it will be left behind.
From the very beginning, its goals have been wobbly. Initially, it was fixated on traditional financial institutions, spending heavily to adapt to EU regulations, and trialing security tokenization; when it saw the excitement on the retail crypto side, it quickly optimized small transactions and spread benefits to attract people, but institutions ignored it, and retail investors found it unexciting, leaving it empty-handed. Later, seeing others expand into multiple scenarios, it followed suit in real estate tokenization, hurrying to announce with insufficient preparation, and ended up hastily wrapping things up, spending money and ruining its reputation. Now, it is pushing the DuskEVM mainnet, RWA expansion, and has partnered with Chainlink and NPEX, claiming it will issue over 20 billion euros in securities, which sounds impressive, but isn't it still just following in others' footsteps? Others have long been soaring in privacy blockchain and compliant DeFi, and here it is just getting started, throwing 15 million DUSK to attract developers, but the developer community is quiet, and incentives are rigid, making the ecosystem stagnant.
The most fatal flaw is that Dusk has no core competitiveness; it only knows how to imitate. When others comply, it does too, but its adaptability is poor, lacking authoritative endorsement, falling short of major projects; when others do asset tokenization, it follows, but the plans are half-baked and resources are insufficient, only able to make small moves; when others build ecosystems, it does too, but the number of developers is pitifully small, and the privacy + compliance combination has been played out by others long ago; what does it have that is unique? Zero-knowledge technology? But that's not its patent.
Without anything irreplaceable, institutions have better choices, and retail investors have more powerful projects; who would be willing to pay for someone who is just touching the surface and not excelling at anything? The token price is also declining, unable to hold on. The most frustrating thing is that it is still in the dark, continuing to be busy, thinking that effort will lead to results. But in the crypto circle, mere hard work is not enough; without a firm goal and exclusive advantages, no matter how busy it is, it's all in vain, and it will eventually exhaust its foundation.
In short, Dusk's troubles lie in its wavering goals and lack of competitiveness.
