$0.0826

Nillion is a decentralized network designed to support encrypted markets, where user instructions are not broadcast openly before execution. Instead, these instructions are sealed onchain and remain unreadable to other traders, automated agents, and the network itself until a specified condition is met. Once that condition is satisfied, a threshold of independent nodes unlocks the instruction and executes it automatically. This mechanism, called Covenants, introduces privacy to market components that traditionally operate in the open, such as orders, strategies, and the underlying logic.

The native utility token, NIL, serves multiple functions within the network. It is used to pay protocol fees for creating and resolving Covenants, for staking to operate nodes and secure the network, and for rewarding nodes that monitor conditions and settle results. Additionally, NIL provides access to Nillion's broader privacy infrastructure, including nilDB, an encrypted database that distributes data across nodes while allowing computations on encrypted data, and nilAI, which offers AI-focused privacy technologies such as the AI Virtual Machine (AIVM), nada-AI, and nilTEE.