Offshift May PriFi AMA & Community Call Recap

cover.png
May 28, 2021

Marketing updates, our BSC deployment, & more.

May was quite a busy month for Offshift; here are some highlights: the SushiSwap LP Rewards Program extension, new development updates, and the completion of the Offshift ETH-BSC Bridge. On this month’s community call, Alex Shipp spoke with our marketing team members from Serotonin : CEO Amanda Cassatt, and Head of Business Operations and Marketing Director Jeffrey Vier. See our full call recap below.

To ask questions and participate in our monthly Community Calls & PriFi AMA, join our Discord .

Watch our May PriFi AMA & Community Call here.

Here’s what we discussed this month:

General Updates

  • SushiSwap LP Rewards Extension
    • The SushiSwap XFT-WETH market currently has more than $500,000 in liquidity, with 94.6% of Liquidity Provider tokens being staked in Offshift’s Dual-Liquidity Mining contract.
    • Through the first two months, liquidity providers have earned 20,000 XFT and more than 1,600 SUSHI, totaling more than $70,000 in rewards.
    • Month 3 of the SushiSwap LP Rewards began on Monday, May 17 and concludes on Thursday, June 17. Users will continue to earn both XFT and SUSHI by staking through the Offshift Staking Dashboard.

Development Updates

  • The Offshift PriFi Yellowpaper:

    • The Offshift Yellowpaper is a deeply technical and instructional guideline to the Offshift technology stack, our specific zero-knowledge proof implementation, and DeFi enhancements.
    • The way our Whitepaper lays out our vision for PriFi and shows what we’re going to do, the Yellowpaper will show how we’re going to do it.
    • We are excited to announce that our Yellowpaper will be published in June.

  • Account Based zks

  • Unlike Monero and Mimblewimble, our zk-Proofs will live on public EVM blockchains.

  • Implementing Bulletproof zk proofs on-chain will enable the formation of a DeFi ecosystem which is (1) on-chain, (2) private, and (3) fully decentralized.

  • Offshift derivatives and synthetics (zkAssets) will be different from assets like Monero’s XMR and Zcash’s ZEC.

  • Offshift’s fully decentralized protocol layer technology is different from protocols like NightFall and Aztec.

  • ETH BSC Bridge Goes Live

    • The Offshift Ethereum-Binance Smart Chain Bridge is officially live on mainnet, and users may now transfer XFT between Ethereum and BSC.
    • To move XFT from Ethereum to BSC, a user transfers ERC-20 XFT from an Ethereum wallet to the Offshift ETH-BSC Bridge, and an equal amount of BEP-20 XFT will be deposited into their wallet on BSC.
    • To move XFT from BSC back to Ethereum, a user does the same in reverse. A transfer of BEP-20 XFT tokens to the Bridge results in an equal amount of ERC-20 XFT being deposited in a user’s Ethereum wallet.

AMA

Here’s the question you asked us to focus on this month:

What is going to be the biggest challenge for Offshift to gain traction as a platform and as a service and how are you planning on overcoming it? What concrete steps is Serotonin going to take here?

  • We’re cementing a brand position for Offshift as the category creator of “PriFi”.

  • We’re communicating our intentions behind the technology stack changes that we’ve insisted on - so as to be developing a pure and open private DeFi technology that becomes a mainstay of this industry.

  • We’re producing meaningful content and making thought leadership contributions designed not only for Offshift’s core community, but also for privacy and DeFi communities at large.

  • We’re securing channels and audiences (media brands, events, etc.) to not only tell the world about ourselves, but share the mic with other meaningful contributors to this industry, engaging in exciting and industry-pushing dialogue.

    How we’re working together:

  • Developing an industry Brand and Positioning signal in a noisy noisy space.

  • Defining a new category inside of crypto with Offshift as the pioneers of PriFi.

  • Community building amongst privacy and DeFi enthusiasts alike.

  • Championing the integrity and authenticity for how Offshift wishes to operate and deliver its solution to this industry.

To ask questions and participate in our monthly Community Call & PriFi AMA, join our Discord .

About Offshift

Offshift is leading private decentralized finance (PriFi) with the world’s first Private Derivatives Platform. It leverages zero-knowledge (zk) proofs and sources reliable, real-time price feeds from Chainlink’s decentralized oracle network to enable users to mint zkAssets, an unprecedented line of fully private synthetics. Offshift’s mostly anonymous team has developed a trusted reputation for their thorough privacy research, development and execution.

To learn more and get involved, visit the links below:

Website | Telegram | Discord | Twitter | Instagram | Uniswap | Sushiswap

About Serotonin

Serotonin is a marketing firm and product studio for transformative technologies. With a team of former executives from ConsenSys, Chainlink, Bridgewater Associates, General Assembly, and more, Serotonin partners with top businesses and entrepreneurs on brand positioning, business partnerships, media relations, content, product marketing, and go-to-market strategy. Serotonin combines expertise in financial services, digital assets, and decentralized tech with data-driven methodology to ensure our partners’ marketing and PR is executed flawlessly, driving step-function growth. Learn more at http://serotonin.co/ .