These years, DeFi has created quite a few innovations. AMM, liquidity mining, and various crazy derivatives have indeed dazzled people. But to be honest, the current DeFi ecosystem feels more like an internal carnival—funds are being cycled within the community, and the entertainment is too self-referential.

The real problem lies here: those Wall Street giants who control trillions of dollars and dress sharply every day have long been eyeing the crypto world with hostility, yet they can't take a single step in. Why? Because what they need is simply not provided by the current public chain ecosystem.

What do institutional investors need? Not a hundredfold myth, but the most straightforward thing—certainty. Who can they turn to if a trade goes wrong? Can they pursue legal procedures if there's a default? Do all transactions comply with regulatory requirements? These seemingly basic needs have become the biggest gap between traditional finance and DeFi.

Current public chains are either so transparent that there's no place for business privacy, or so anonymous that regulators are scratching their heads. Such a binary choice—how can it possibly reassure Wall Street, which is used to "rules above all"? The huge trust gap thus blocks the entry of real "big funds" into the crypto world.

This is also why I am particularly optimistic about Dusk's positioning. While other public chains are busy "reinventing the wheel" or claiming to be the next Ethereum killer, Dusk has precisely targeted a highly scarce niche—regulation-friendly DeFi, or RegDeFi.

To understand Dusk's design philosophy from another perspective: it’s like a special zone built specifically to connect massive traditional financial capital with DeFi innovation mechanisms. It’s not about overthrowing the existing DeFi system, but embedding "rules" at the foundational level—compliance standards, privacy protection mechanisms, and more—so that large financial institutions can confidently bring real assets (stocks, bonds, real-world asset certificates) onto the chain for operation.

Imagine this scene: when mainstream financial institutions truly start adopting such infrastructure on a large scale, what changes will occur in the financial markets? Perhaps it’s just around the corner. We might see traditional stock trading bid farewell to the outdated T+2 settlement method, moving to T+0, or even achieving seamless 24/7 global liquidity trading. Most importantly, the entire process will be fully compliant, and privacy will not be exposed to the public.

The big show of RegDeFi has just begun, and projects focusing on this track have already secured excellent positions. How the future unfolds will likely be dictated by them.