The popularity of the RWA track indeed hasn't cooled down, but many voices in the market are chasing new narratives, often overlooking projects that are truly deepening their infrastructure.

Take Dusk as an example. This isn't a project that only turned to compliance later on. Since its founding in 2018, its positioning has been very clear—focused on serving regulated financial assets. In the current Layer 1 competition, this path might be the most challenging, but also the most solid: dedicated to compliance and privacy.

Where is its core competitiveness? Dusk uses zero-knowledge proof (ZK Proofs) technology to enable asset issuers to prove the legality of transactions to regulators without revealing transaction details. This is a must-have for institutions wanting to bring assets like stocks and bonds onto the blockchain.

What's more interesting is its XSC token standard. Asset issuers using this standard can automate the entire compliance process—significantly lowering the barrier to bringing assets on-chain and giving small and medium-sized institutions a chance to participate.

As regulatory frameworks become clearer, the compliance track is sure to usher in a wave of enthusiasm. As a pioneer in this field, Dusk has the technology, execution capability, and narrative depth. In this market, there are not many teams willing to focus on building infrastructure. This project is worth paying attention to for its future developments.