2026-01-08 16:25:32

Many people look at tokenization projects, often only focusing on the front-end aspects—token issuance, trading interfaces, wallet integration. But someone who has worked in traditional financial systems for many years raised a point: the true barrier for institutions has never been how good the UI looks, but the behind-the-scenes work that is invisible—asset registration, clearing and settlement, confirmation of settlement, compliance checks, audit records, and delineation of rights and responsibilities. This statement has enlightened many people's understanding of RWA projects.

Dusk has recently been repeatedly discussing the concept of DeMI (Decentralized Market Infrastructure), which is essentially doing this: not simply digitizing assets and putting them on the chain, but dismantling and rebuilding the entire backend system of the financial market. In traditional financial markets, these tasks are dispersed across multiple institutions—exchanges handle matching, registration agencies handle rights confirmation, clearinghouses arrange settlements, custodians hold assets, and compliance departments handle verification and regulatory liaison. Dusk aims to unify these separate processes through an on-chain network.

What does this mean? It means that key information is no longer stored solely in a single institution’s database but is recorded in a distributed manner; it means that in case of disputes, there is complete on-chain traceability instead of conflicting statements; it means that when regulators need to hold parties accountable, the boundaries of rights and responsibilities are clear and verifiable. In other words, the chain is no longer just a trading tool but has become the underlying infrastructure of the financial market.

Many tokenization projects are still at the stage of "we’ve put assets on the chain." But projects that truly enable institutional participation must be able to connect the entire chain of registration, clearing, and settlement. This is the key to RWA moving toward institutional-grade applications.

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OnchainDetective

· 9h ago

Finally, someone has explained it thoroughly. Most projects are just hyping concepts and haven't thought about how the backend operates. This is the true core of RWA; no matter how fancy the UI is, institutions won't touch it. The idea behind Dusk is correct, but can it be practically executed? Projects that can fully integrate clearing and settlement are indeed rare.

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SigmaBrain

· 01-10 22:06

Indeed, too many projects are self-absorbed in stories about UI and trading pairs, never considering what institutions might ask. The backend system is the real bottleneck; without solving this, don't expect large funds to come in.

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TokenomicsTherapist

· 01-10 01:44

Well said. No matter how fancy the UI is, it’s useless. The real bottleneck is that pile of backend systems. Most RWA projects are still doing "digital stickers," while projects like Dusk, which move the entire clearing and settlement system onto the chain, are truly addressing the pain points. --- This is the fundamental difference between institutional-grade applications and retail projects. If the clearing and settlement chain breaks, everything is pointless. --- Honestly, there's little need to pay attention to RWA projects that still boast about their beautiful UI. --- On-chain traceability and clear responsibilities are what truly reassure compliance departments. Not everything is suitable for decentralization, but this system definitely needs to be dismantled. --- Wait, has Dusk really connected everything? Are the four links—registration, clearing, settlement, custody—still using traditional finance for any of these steps? --- Don’t hype it up. The game among the entire traditional financial ecosystem is so complex—can it really be unified on a single chain? I doubt it. --- That’s why institutions still can’t get involved. It’s not because they don’t understand crypto; it’s because the boundaries of responsibility are ridiculously blurry.

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DaisyUnicorn

· 01-09 11:59

Finally, someone has explained the backend system clearly. A good-looking UI is useless if there are no liquidation and settlement RWA; they are just paper tigers. On-chain traceability is outstanding; we no longer have to listen to various parties passing the buck. It sounds like Dusk is building real infrastructure, not just another shell project. The key for institutional entry was here all along; no wonder so many projects get stuck. Putting assets on the chain is easy; the real work is ensuring the entire chain functions smoothly.

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RunWhenCut

· 01-08 16:55

Whoa, this is the real RWA, the previous projects were just shell companies. --- Rebuilding the backend system... sounds simple, but actually doing it is deadly. No wonder institutions are still on the sidelines. --- If DeMI can really be implemented, clear rights and responsibilities are the key, otherwise there’s no way to settle disputes in court. --- The problem is, on-chain traceability sounds great, but how do regulatory authorities cooperate? That’s the biggest pitfall. --- Got it, so those projects with only UI are really just empty shells. No wonder institutions aren’t interested. --- Wait, if Dusk really gets developed, does that mean those intermediary agencies are no longer needed? --- I know how complex traditional financial backend systems are, and trying to move them onto the chain... hmm, that’s quite ambitious. --- Honestly, I still don’t fully understand how DeMI works. Can there be a demo?

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GateUser-2fce706c

· 01-08 16:55

This is the real threshold for RWA. I've said it before, no matter how flashy the UI is, the backend system is the true competitive advantage. It's been obvious for a long time that most projects are just superficial efforts. The Dusk DeMI logic is the real wealth code. Why are institutions hesitant to enter? It's because they haven't understood these invisible rule chains. Now that someone has clarified the underlying logic, the opportunity must not be missed. The key is here—integrating the scattered processes onto the chain. Only then can institutional-level applications truly be realized. Others are still working on exchanges.

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BankruptWorker

· 01-08 16:46

Hey, someone finally said it. This UI looks terrible, and with a bunch of bad debts in the backend, who dares to participate. Complaining for so long, everyone still wants to speculate on coins, but little do they know that institutions simply don't care about this. Dusk's approach is indeed interesting—moving all intermediary work onto the chain, avoiding blame-shifting among parties. A bankrupt guy says: There are too many projects just issuing tokens; very few can actually run through the entire process. Wait, is this what true infrastructure looks like? Then all those exchange projects earlier were just a waste. This is what RWA should look like, otherwise it's just flashy digitalization.

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ser_ngmi

· 01-08 16:42

Oh no, someone finally called out this facade. No matter how fancy the UI is, the backend is still a pile of crap that institutions won't touch. The real skill lies in building the infrastructure for deep on-chain integration. Dusk has really identified the pain point this time. Many RWA projects are just self-indulgent at the stage of "we've gone on-chain," without thinking through how to handle the dirty work that comes afterward. If on-chain traceability and the boundaries of rights and responsibilities are not done well, regulation will still cause issues. It must be taken seriously. Breaking down and rebuilding the traditional financial processes may sound simple, but it's actually extremely difficult. But perhaps this is the true breakthrough.

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GasFeeVictim

· 01-08 16:32

Haha, it's the same old story about the backend infrastructure, right? Not wrong, but it's getting a bit tiring to hear. Honestly, most RWA projects are still in the Photoshop stage, and they haven't figured out how to run the liquidation process. Dusk's approach indeed avoids many pitfalls, but can it be executed properly? That's the real question. No matter how fancy the UI is, it can't save a project without a backend. This should have been clear a long time ago. You talk about clear responsibilities and rights, which sounds great, but once something goes wrong on the chain, is it really easy to hold someone accountable? It still feels foggy. Connecting the entire chain is no easy task; any loose link in the middle can cause the whole system to collapse. So the current question is whether any project has truly implemented this set of systems, or if it's just talk.

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