Offshift is a cryptographically private offshore storage & DeFi protocol on Ethereum, and the first dual-sided public/private protocol to be built entirely on a public blockchain.
Offshift
Offshift has two native assets:
XFT – a public, tradeable ERC20 token, and
zkAssets – private, stable-valued zkERC tokens
(initially the dollar-pegged zkUSD)
A two-way bridge architecture connects the public and private sides of the ecosystem, allowing value to flow freely from side to side. An incentive model constructed to encourage storage on the private side (through staking returns) simultaneously incentivises token ownership on the public side as the tradeable supply of XFT decreases.
Offshift is the first protocol to adequately incentivise both speculation and use as a currency for value storage or private spending.
XFT Token
An ERC-20 token, XFT is the utility token that grants entry into the Offshift ecosystem and gives users the ability to shift to and from zkAssets. It’s the public, tradeable side of the Offshift ecosystem, and its value is determined by the market.
zk-Assets
zkERC-20 tokens, zkAssets include zkUSD, zkBTC, zkETH and virtually any other asset to which users want to peg value. They are the private, stable-valued side of the Offshift ecosystem, and can only be minted by burning XFT. zkAssets are the first cryptographically private stablecoins on Ethereum.
Offshift
Roadmap
It’s ambitious, with the entire ecosystem core being built over the next year, but we’ve taken great care and planned extensively to ensure that it’s achievable. Below you’ll find a brief summary of items by quarter.
- Q3 2020 – XFT Contract Deployed
- Q3 2020 – Token Distribution & DEX Listing
- Q3 2020 – Oracles Integration
- Q4 2020 – Deploy zkAsset Contract & Launch Shifting on Rinkeby
- Q1 2021 – Release of Economic Model v 2.0
- Q1 2021 – Deploy zkBTC & zkXAU Contracts on Mainnet & Launch Shifting
- Q2 2021 – Launch zkUSD Q3 2021 – Offshift Mobile App
- Q3 2021 – Launch Staking