Dusk's staking yields look pretty good, but if you take a closer look at the underlying logic, you'll find some issues. Currently, the rewards for nodes and stakers are mostly sustained by protocol-issued block rewards; the actual earnings from on-chain transaction fees? Almost none — daily fee income is less than a few hundred dollars.

This means that the entire network's node income is essentially just eating inflation and gambling on new money entering. Once the token price drops or the market stalls, that high APY you see will collapse. When calculated in fiat currency, the actual return rate will quickly decline. Smart node operators will definitely run away at that point, directly threatening the network's security and consensus.

Even more painfully, Dusk's Succinct PoS mechanism requires nodes to lock up a large amount of DUSK, maintain high-performance servers, and keep nearly 100% uptime. Operating costs are not small. Yet on-chain data shows that the top ten nodes already control over 40% of the staked amount, which increases centralization instead.

In plain terms, this model ties the network's security directly to the token price, rather than to the real on-chain economy (gas fees). If there are no applications generating real demand in the long term, it can easily fall into a vicious cycle: token price drops → node rewards worsen → large holders exit, increasing centralization → security decreases → token price continues to be suppressed. This chain of logic is definitely worth pondering.