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Offshift

Vision

At Offshift, our ultimate vision encompasses the formation of a scalable, interoperable, privacy-centric DeFi ecosystem composed of a diverse range of disruptive platforms and applications. We are pioneers playing a decisive visionary role in the development of cryptocurrency’s next major growth catalyst: the #PriFi landscape.

User’s painpoint

Users must choose between

exploring the cutting-edge tools at the forefront of cryptocurrency innovation OR【探索处于加密货币创新前沿的尖端工具】

resort to standalone blockchains whose native assets confer privacy as an exclusive feature. 【求助于独立的区块链，其原生资产将隐私作为一项独有的功能】

User need a platform that can transform the above OR into an AND

Governments and regulatory agencies are preparing to integrate cryptocurrency frameworks into existing financial infrastructure, where users can be identified and transactions surveilled via Know-Your-Client (KYC)

Current situation

As long as the benefits of DeFi remain at odds with the prerog- ative of personal privacy, the former will continue to grow at the expense of the latter.【Benefits of Defi vs. Personal Privacy】

Offshift Solution

Offshift dissolves the existing tradeoff between privacy and everything-else-crypto using zero-knowledge (zk) proofs to mint synthetic, asset-pegged tokens that are intrinsically private.

Features

zkAssets (Private, On-chain Synthetics for Anonymous Ownership)

Users could mint zkAssets using offshift token: XFT. XFT←→zkAsset

Asset Diversity: Crypto, Fiat, Commodities, and Anything with a Price Feed - All on One Platform, All Private

Asset Diversity (Anything with a Price Feed on One Platform Privately)

Offshift could tokenize anything with a price feed.

Stress-Free Exchange (0 Slippage, 0 Margin Calls,0 Liquidations & 0 Liquidity Risk)

Offshift does not impose excessive collateral requirements, which uses Burn-and-Mint mechanism. There is no margin calls, liquidations, or periodic fees while users mint zkAssets

Cross-Chain (Low cost)

Building offshift dapp, zkassets on etc

dev on moonbeam

enhanced scalability provided by Polkadot’s parachain architecture

【As a poor investor, this is huge for Enzo definitely.】 Offshift is prepared and committed to launch on Moon- river, Moonbeam’s Kusama Parachain, in order to advance development and achieve a cross-chain Mainnet launch in the near-term.

Rug-Pull_Proof

Integrity matters. In the commitment to integrity, offshift have employed a Strategic Vesting Model, Lockboxes for On-chain Reserves, and Liquidity Locks.

Tokenomics

BME

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【 You deposit the tokenized asset and receive a corresponding hidden ownership obligation. When you withdraw, you prove that such an obligation exists, it is valid, and you own it (the process of converting obligations into an asset is also transparent and amenable to regulation)】

Offshift use Burn-and-Mint Mechanism

Burn-and-Mint Mechanism(BME)⁠

【More info here】

So 0 Slippage, 0 Margin Calls,0 Liquidations & 0 Liquidity Risk when users mint zkAssets due to BME.

【Comments by Enzo: Offshift needs a stable user base, after there is a stable community, then it would be easy to put assets into the right hands. Since BME has higher Gini index, which has higher risk for the system to be controlled by a small group of people.】

If a user possesses a positive XFT balance and sufficient ETH to cover transaction fees, he is able to Shift his XFT into a synthetic zkAsset of his choosing.

Offshift’s Burn-and-Mint mechanism burns the user’s XFT and mints a new zkAsset of equal value. At any point, the user may Shift from his zkAsset into XFT, and the process reverses: the Burn-and-Mint mechanism burns the zkAsset, and mints new XFT of equal value to the user’s ERC20 wallet address.

Bridging

Charge users a dynamic bridge fee while user is shifting between XFT and zkAssets in the first 7 days.

Bridge fees are sent to Offshift’s staking rewards wallet.

Chainlink’s Oracle Network

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Well it is third party staff, so

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https://offshift.io/public/blog/2020-09-30-offshift-taps-chainlink-to-provide-oracle-feeds-for-its-zkasset-private-pegs/⁠

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Zero-Knowledge (zk) Proofs

“Zero- knowledge proofs act as an integral component in Offshift’s technical solution, as they allow for the minting of private, synthetic zkAssets. “【Well they do not give more details, prob in yellow paper】

EIP #1724: zkERC20: Confidential Token Standard

Offshift draws ETH Improvement Proposal #1724 to mint private, on-chain assets via zk Proofs.

Proposal #1724: Modeled on Aztec Protocol which delineates a broader set of specifications for an ecosystem-wide confidential token standard.

Staking Rewards

Offshift has allocated 15% of Genesis Total Supply (1,500,000 XFT) to Staking Rewards.

Users begin staking their zkAssets 7 days post-mint.

Staking rewards are sourced from Offshift’s Staking Rewards wallet, converted to zkAssets, and distributed to users based on Total Value Staked and Total Time Staked.

Capital Raise

Offshift raised capital through one round of seed investment and one round of private investment.

In the interests of decentralizing token ownership, individual investment contributions were capped at $5,000 in USD-equivalents in both rounds.

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Wallet-specific vesting parameters are available below: Marketing/Ecosystem (22.5%): 1.25% every 2 months, beginning Oct. 3, 2020 Development (22.5%): 1.25% every 2 months, beginning Oct. 3, 2020

Team (20%): 1% every 2 months, beginning Feb. 3, 2021

Staking Rewards (15%): 0.25% every month, beginning Feb. 3, 2021

LockBox

Offshift team have hardcoded vesting model using smart contracts called Lockboxes to ensure that even our core team cannot modify our token metrics or vesting strategy.

Liquidity Locks

In addition to our XFT wallets, Offshift also employs smart contracts to prevent tampering with our Uniswap LP Token. Our Uniswap Liquidity Pool is protected via a Liquidity Lock.

Token Emission Schedule(5 years and 5 months)

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Future Plan

Applicaiton in decentralized lending and borrowing, various forms of yield farming, the formation and exchange of insurance products, NFT generation, and much more.

Offshift team has confidence in Moonbeam’s long-term development vision.

Comparison

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