Offshift v2 AMA Recap
Yesterday the Offshift Dev Team hosted its Live v2 AMA in the Offshift Telegram. As always, we recieved lots of great questions from the community, and we answered as many as we could (while keeping the AMA to about an hour and a half). The devs even answered a few follow up questions after the AMA concluded.
Our next Live Dev Update & AMA is slated for Thursday, July 20 in Telegram as well. You can expect a lot more updates then, as we’ll be less than a month out from the Offshift v2 CLI Testnet Release, scheduled for the week of August 14.
If you missed yesterday’s AMA, you can catch up below, or in the Offshift Telegram itself if you prefer. As always, feel free to come by and ping us with followup questions from the AMA or anything else that’s on your mind.
- I will ask the questions from the community to the various team members
- After this you have the opportunity to ask your remaining questions live, the team will answer 3 of them
- And finally: I will announce 4 persons who will win 200 XFT for the question they submitted (3 people who submitted their questions in advance + 1 lucky person who submits a question during this AMA)
What are the technical characteristics of the Noir language developed by Aztec that makes it more suitable for coding the platform? I mean, what does it have that other programming languages lack and how does it contribute to reducing fees of using the platform?
Could you explain to me like I’m five, the difference between v1 and v2, please?
How do Offshift v2 zkAssets maintain their pegs without tokenizing them?
Offshift v2 allows for carrying out shielded transfers as well as partial asset withdrawals, but technically speaking how could that be possible if the platform uses a merkle tree structure? If the value, the asset, and the price oracle are the elements encoded into the commitment and a user performs a partial withdrawal or shifting, it no longer has the same value or price originally encoded, so how is the ownership of assets proven?
Can I shift to zkBTC but withdraw as zkETH?
You have implied that zk and anon assets will be able to be swapped 1-1. Does this mean that they will not need to be transferred back through XFT? Acting sort of like an atomic swap that was first put forward in the original white paper.
Can you explain the process of making shielded transfers within the Offshift v2 platform?
Are there any fees associated with shielded transfers or partial asset withdrawals on the v2 platform?
How do anonAssets function alongside zkAssets within the Offshift protocol and ecosystem?
Are there any limitations or restrictions on the interchangeability of values between anonAssets and zkAssets?
The Offshift v2 platform uses commitment-only assets. So, will the platform offer users the ability to shift to any asset they like since the only requirement is the Chainlink price oracle or there will be a limited number of assets available that the team or the community proposes?
In the litepaper you mention a few positive points about possible Typescript integrations. Can you give some concrete examples of the advantages it offers?
Can you give an estimate of the height of the gas fees involved in Momiji commitments vs. the v1 anonAssets shifts?
What is the solution of the Offshift team to "replay attacks" on Merkle Tree signatures?
Is it possible that Offshift v2 could be added into DEXes on Ethereum, meaning Offshift or a rebrand can run on a DEX page where people can swap ETH into anon assets burning XFT under the hood without even knowing about Offshift?
How quick is the onboarding of new assets on v2?
Are there any limitations or constraints to the types of assets that can be supported by Offshift v2's synthetic asset model?
Are there any plans to introduce additional features or functionalities within the Offshift v2 platform in the future?
Will creating asset contracts be something the community can actively participate in since liquidity is not needed?
Will the v2 contracts be upgradeable by the team? Does the team plan on renouncing contracts at some point in future to eliminate the associated risks?
What is the flex fee mechanism employed by the Offshift v2 platform, and how does it incentivize restoring the price peg?
Why wait till August to start on the new UX and design? This can be designed and tested and get community feedback to perfect this over the next couple months without code using Figma.
Will the team be collaborating with the community to get the best possible ideas and outcome for UX in the future upgrade?
It's nice to see the new litepaper that's out. A question I've been thinking about is: it seems the entire Offshift Ecosystem is dependent on the liquidity in the ETH/XFT pool when you want to redeem your synthetic assets. Will there be any function in the future to send ETH itself that wouldn't be traceable but can easily be redeemed into a fresh wallet with whatever amount the wallet chooses to withdraw?
How are you guys thinking about integrations of anon and zkAssets into other protocols if at all? Similar to Lido's success of their LSTs integrating with other major Defi apps to create a moat, if anon/zk-assets integrate with premier borrow/lend platforms on Ethereum and elsewhere, it would boost Offshift's network effect and moat.
I don't know much about zkSNARK, and zkAssets and stuff, How does the team at Offshift deal with someone like me?
Now’s the time; what do you want to ask the team at this very moment? Please type your questions now!
Three questions are chosen and answered by one of the team members; one of the people who submits a question now will also receive a prize of 200 XFT!
So how do you ensure the security of your project? What are you doing for the security of your platform? Tell us about the security of your Project?
What makes OffshiftV2 stand out from the rest?
I'm going to the last part of the AMA: the winners!
It was great to read through the high quality questions, thanks to everyone who submitted one (or more). But only four (!) can win:
And the AMA live question winner is: