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When I look at Nillion, I think the real measure of progress will be what people actually build with Encrypted Markets, not just how many roadmap milestones get announced.
For me, the first metric to watch is active Covenants. Are users creating instructions and letting them execute under real conditions, or are they simply experimenting? Execution has reliability that matters just as much. Privacy is valuable, but applications also need predictable outcomes when their conditions are met.
I would also pay attention to repeat developers. If builders return to create more applications, that could signal that Covenants solve a problem worth addressing. Application usage and recurring fees would provide another useful perspective on whether the network is becoming part of real on-chain activity.
Dusk, is the first that release Covenants on Ethereum main-net, giving developers a starting point to explore these possibilities. The next challenge is turning that technical foundation into consistent usage while maintaining the security, privacy and sustainable incentives for network operators.
I would rather see transparent evidence of growing activity than rely on assumptions about future adoption.
What do you think is the strongest signal of progress for Nillion: active Covenants, reliable execution, returning developers or recurring fees?