pandas

—— While you are rushing to give away money, the scythe is already at your neck. Reconstructing @intodotspace's scheme and my darkest deductions during those days.
This is not a simple Rug Pull; this is a meticulously calculated 'valuation assassination'.
From $2.5 million to $14 million, it is not just the inflation of numbers, but the fission of greed.
Why, when the whole network is in FOMO, am I shouting stop hoarsely in the community?
This is a complete review from my perspective, hoping to help you protect your wallet before the next $SPACE.
In-depth logical disassembly
📅 Act One: A Carefully Designed Bait

After experiencing one round after another of meme frenzy in the cryptocurrency market, funds will eventually return to rationality, seeking infrastructure that has real blood-generating capabilities and technical moats. As a long-term investor in this market searching for Alpha, I have always believed: whoever can solve the biggest obstacle for traditional finance (TradFi) entering Web3 is the next thousand-fold opportunity in the upcoming cycle. In my view, @Dusk is precisely the key holder that can break the deadlock.
1. Pain Points of RWA: Transparency is both an advantage and a shackle.
Everyone knows that RWA (Real-World Assets) is the main narrative for the next few years. But we must face an awkward reality: no Wall Street institution is willing to run naked on a fully transparent Ethereum. Imagine if every bond trade detail and counterparty information from JPMorgan were exposed in real-time on the chain; this is unacceptable business leakage.

The success of a public chain relies on technology as its skeleton and ecology as its flesh. Recently
the launch of the CreatorPad program has garnered my great attention. This marks Dusk's official transition from the 'technology R&D stage' to the 'ecology expansion stage'.

CreatorPad is not only an incentive for developers but also a rallying call for content creators and community evangelists. In Web3, consensus generates value. By incentivizing high-quality tutorials, analyses, and community interactions, Dusk is rapidly addressing its shortcomings in market presence. We are seeing more and more developers beginning to try building compliant dApps on Dusk, from privacy DEX to compliant lending platforms. Once these application scenarios are implemented, they will bring

In the restless crypto market, there are very few teams that can take the time to refine their tech stack for several years, and @Dusk is definitely one of them. Recently, I revisited Dusk's technical documents, and its zero-knowledge proof system based on PLONK and the innovative Piecrust virtual machine are setting a new standard for Web3 privacy infrastructure.
Why is technology so important? Because the future of DeFi 2.0 will inevitably be RegDeFi (compliant decentralized finance). Dusk allows developers to write privacy-protecting smart contracts (Dusk Network's Confidential Smart Contracts), which is very advanced in the industry. It can handle not only simple transfers but also complex financial logic, such as dividends, voting, and asset division, all while ensuring privacy protection throughout the process.

In this cycle of cryptocurrency, RWA (real-world assets) is undoubtedly one of the grandest narratives. Everyone is talking about moving U.S. Treasury bonds, stocks, and real estate onto the chain, but most projects overlook a core pain point: the contradiction between privacy and compliance.
This is the core logic that I am optimistic about @Dusk . Dusk is not just another Layer 1 public chain; it is a privacy blockchain designed specifically for regulated financial assets. Traditional financial institutions ("Old Money") dare not run bare on large-scale public chains; they need privacy protection. At the same time, regulators require compliance (KYC/AML). Dusk perfectly solves this "impossible triangle" through zero-knowledge proof (ZK-proofs) technology—allowing the legitimacy of transactions to be verified on-chain without revealing the specific amounts of the transactions and the identities of both parties.

In the grand narrative of Web3, the competition among Layer 1 public chains has never ceased. However, with the continuous improvement of infrastructure, the era of purely pursuing TPS is over; the real decisive factor lies in the implementation of application scenarios and the smoothness of user experience. It is against this backdrop that I have refocused my attention on @Plasma . As a Layer 1 blockchain designed specifically for stablecoin payments, Plasma is attempting to bridge the 'last mile' between the crypto world and real-world finance.
1. Addressing Pain Points: The Revolution of Gas Fees
What is the biggest hurdle for the mass adoption of Web3? It is not the creation of wallets, but the cumbersome requirement of paying native tokens as gas fees for every interaction. The most exciting technological innovation of Plasma is its Paymaster mechanism.