Offshift Embarks on Phase II: Confidential Assets
With the launch of Offshift’s debut PriFi application, Offshift anon, now behind us, the project begins to transition into its next phase. After achieving anonymity on Layer 1 Ethereum (L1) in phase one, we now set our sights squarely on privacy’s other main component, confidentiality.
First, a look at Offshift anon thus far.
Through the first 25 days, the platform has seen a net burn of 83,843 XFT and a net mint of 79,163 anonUSD. Although the 25,000 anonUSD Shifter has yet to be used, the 500 and 5,000 anonUSD Shifters show a gradual and steady growth in their anonymity sets. Thanks to Offshift community member Mattayo for the visualizations below, which you can find on his Offshift anon Dune Dash.
The Offshift anon LP Rewards Program has seen more than a quarter of a million dollars in liquidity pooled in the first month, split evenly between the Uniswap ETH/anonUSD pool and the SushiSwap XFT/ETH pool.
The next milestone for Offshift anon will be the launch of its second asset, anonBTC, slated for addition in May.
As the team continues to carefully steward the growth of Offshift anon, Phase II of the project begins to take shape in tandem.
The first milestone for the confidential assets platform will be the release of a litepaper and development roadmap, expected in late quarter 2 or early quarter 3 of this year.
The L1 Ethereum confidential assets platform, like Offshift anon, will use zk-SNARKs to shield transaction amounts. Much more to come on the new platform’s architecture and development timeline as we draw closer to Q3.
In the meantime, come by the community Telegram and stay tuned to the official Offshift Twitter for updates on the launch of anonBTC and the confidential assets platform as they develop.