Nillion

Nillion's $NIL token has shifted from optional to required: it's the currency for compute credits on the Blind Computer, the stake securing verifiers, and the settlement layer for partnerships like the Vodafone fraud-detection tower project—all scaling with usage rather than linear user growth. The critical risk is that despite rising demand, supply remains net-inflationary at 0.5% yearly minting plus ~2% monthly unlocks through 2029, with no verified on-chain burn mechanism yet; the incoming tokenomics redesign must deliver credible usage-driven burn to flip the math from "usage grows but so does supply" to structural re-rating.