Nillion Unveils Dusk, Encrypted Markets Solution with Conditional Trading Instructions

Nillion has introduced Dusk, a milestone on its roadmap to Encrypted Markets. This system allows traders to create conditional instructions and post them onchain in encrypted form using Covenants.

Covenants allow users to pre-save an action and trigger it based on a price level and future time period. The instruction is sealed until the trigger is reached, at which point Nillion's decentralized nodes help unlock it for settlement.

An example of cross-asset trading shows how a trader could prepare 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 is encrypted onchain.

The initial release of Dusk features price-based conditions for select crypto assets and a 30-day window. Nillion plans to deploy its contracts to Ethereum mainnet at the end of September, with node network bootstrapping expected to follow.