Judging whether a project is truly doing something or just talking big is indeed not easy. But looking at what Dusk has accomplished over the past few years, you can understand.

They haven't just stayed on PPTs; they've actually built a set of operational financial infrastructure.

First, let's talk about the asset side. When the mainnet launched, they integrated €300 million worth of tokenized assets from NPEX, a Dutch compliant exchange — these aren't made-up numbers, but real SME equity and bonds. Blockchain finally has genuine value backing, no longer just an intangible concept.

Next, look at the underlying technology. The team didn't take shortcuts; they spent years independently developing a virtual machine system. What's especially impressive is that they reduced privacy verification speeds to milliseconds and standardized the development of privacy applications. All these codes are open source, so anyone can verify them.

More importantly, a complete closed-loop ecosystem has been formed. From assets provided by NPEX, to compliant euro stablecoins used for payments, to professional custody services, the entire chain is tightly connected.

Eight years of accumulation are not wasted. Dusk is steadily laying tracks, truly connecting blockchain with that massive compliant financial market. This is no longer just talk on paper.