Offshift Dev Update Late July 2022: Pilot Launch
Offshift Core is pleased to announce that the Offshift anon Pilot is now live on Ethereum’s Goerli Testnet.
In this edition of Offshift biweekly dev updates, the Offshift anon Pilot is presented in full, with step-by-step instructions suitable for all users — independent of technical proficiency. The pilot release represents a significant milestone on Offshift anon’s Development Roadmap to Testnet, released earlier this month.
On the Offshift anon Pilot, users are able to burn testnet XFT to generate a deposit note, and subsequently redeem the note to mint aUSD – a sample asset which represents the wide array synthetics the Offshift anon protocol is capable of supporting.
For those that want to get their hands dirty right away, full instructions are available below.
Offshift anon Pilot - Instruction Manual
1. Create a new Ethereum wallet in MetaMask that you will use exclusively for the Offshift anon pilot.
2. Navigate to the Goerli PoW Faucet, copy/paste your new wallet address, complete the Captcha, and click the green “Start Mining” button. While you mine some Goerli ETH, let’s get moving on next steps.
3. Download and install Node.js 16.16.0 LTS for your OS.
4. Download the zip containing XFT Anon CLI and extract it.
5. Open command line in the directory you extracted to and run the following commands:
Then, the Offshift anon Pilot will launch.
6. Before you can begin interacting with the pilot on Goerli, you’ll need some Goerli ETH. So navigate back to the Goerli ETH Faucet in your browser and click the red “Stop Mining” button to claim your Goerli ETH.
7. Now you have some Goerli ETH and a minor decision to make. The pilot allows you to use up to three different addresses:
Deposit Address: Where you’ll receive testnet XFT and subsequently send it to the anonymizing contract to be burned.
Withdraw Address: Where you’ll mint testnet aUSD by redeeming the private note you generate when you send testnet XFT to the anonymizing contract.
Relayer Address: A placeholder address representing the relayers to be implemented in future iterations.
From here, you may either:
a) Use the address you funded with Goerli ETH as your Deposit Address, Withdraw Address, and Relayer Address. This way, you’ll avoid having to create two additional wallets and fund them with Goerli ETH.
b) Create two more ETH wallets and fund them with Goerli ETH, either by mining ETH from the faucet with each, or by sending at least 0.2 Goerli ETH from your first wallet to each.
8. Now, return to your terminal. In the XFT anon CLI menu select CONFIG and press enter. Scroll down to Deposit Address and press enter.
9. Copy the private key from your wallet with Goerli ETH in MetaMask, paste it into the terminal, and press enter.
10. Do the same for Withdraw Address and Relayer Address, either by pasting the same private key for each, or if you chose to create three wallets in step 8, by pasting a different private key in each.
When you’re finished, re-enter “Config” and make sure all three addresses are displayed correctly.
Run the Offshift anon Pilot
11. Return to the main menu, and mint testnet XFT to your Deposit Address by scrolling down to “Mint Testnet XFT” and pressing enter.
*Note: If, at any point, you’re returned an error, just type:
node main and press enter to pull up the CLI menu again.
12. When the terminal shows an XFT balance in your account, scroll down to “Burn XFT & Convert to aUSD” and press enter. Your XFT will be burned and a deposit note will be generated for the equivalent value in aUSD.
13. To redeem your deposit note and mint aUSD, scroll down to “Mint aUSD” and press enter.
Once the transaction is mined on Goerli, you’ll have an aUSD balance equal to the amount of XFT you burned, minus the fee you see in the Relayer Address.
14. To Shift from aUSD back to XFT, you’ll perform a Simple Shift, which, as described in the Offshift anon Litepaper, is a burn-and-mint that does not confer anonymity. Scroll down to “Simple Shift aUSD to XFT” and press enter.
Once the transaction is mined, you’ll have an XFT balance in your Withdraw Account equal to the amount of aUSD you Shifted.
You’ve now Shifted from XFT to aUSD by burning XFT, generating a deposit note, and redeeming the note and minting aUSD. You then Shifted from aUSD back to XFT by burning your aUSD and minting XFT. You can view all your transactions on Etherscan’s Goerli Testnet Explorer.
Still have questions? No problem!
Offshift’s July PriFi AMA is coming up on Thursday, July 28 at 12pm ET. Send in your questions, and get answers on our YouTube livestream! We’ll select the 3 best questions and send out 100 XFT to each of our community members that submitted them!
As always, to stay up-to-date with the latest news and developments in everything Offshift as we continue to deliver on our Development Roadmap to Testnet, stay tuned here on the official Offshift Blog.
Offshift is pioneering private decentralized finance (PriFi) with an ecosystem of PriFi Applications that confer and protect various elements of privacy, anonymity, and confidentiality on Ethereum Layer 1. All Offshift Ecosystem Applications are powered by XFT, and leverage real time price feeds from Chainlink’s decentralized oracle network to enable users to mint an array of private synthetics. Offshift Core, the mostly anonymous team developing the Offshift Ecosystem, has developed a trusted reputation for their thorough privacy research, development, and execution.