Making public record by going down (10)

I believe the answer is:

disclosing

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'making public' is the definition.
Although both the answer and definition are present participle verbs, I don't understand how one could define the other.

'record by going down' is the wordplay.
'record' becomes 'disc' (eg a CD, compact disc).
'by' is a charade indicator (letters next to each other).
'going down' becomes 'losing' (similar in meaning. I am not sure about the 'going' bit.).
'disc'+'losing'='DISCLOSING'

Can you help me to learn more?

(Another definition for disclosing that I've seen is " revealing".)

I've seen this clue in the Sydney Morning Herald.

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