Nillion Launches Encrypted Markets with Dusk, Hiding Trades Until Triggered
Nillion has announced Dusk, its seven-step roadmap to Encrypted Markets' first milestone. This innovation brings a new level of privacy to onchain trading by hiding conditional instructions until specific price and/or time triggers are met.
Dusk employs encrypted Covenants, which allow users to create pre-saved actions that can be triggered based on price levels or future time periods. These encrypted instructions remain sealed onchain until the trigger is reached, at which point Nillion's decentralized nodes help unlock them for settlement.
An example of cross-asset trading shows a trader preparing an order to buy $50,000 worth of ETH when BTC reaches $80,000. As long as Bitcoin remains below this level, the ETH trading instruction remains encrypted onchain.
The initial release features price-based conditions for select crypto assets with a 30-day window. The Sepolia testnet has already been released, and applications powered by Dusk are expected to be available on testnet before mid-September. The Ethereum mainnet rollout is planned for late September.