We haven't come to a final decision yet, but we are leaning towards having a flex fee when anon assets are deposited into the 2.0 platform. This would mean the fee would apply to anon -> zk swaps, but not vice versa.

@nXoFoTb, what are your thoughts on this one:

In the previous AMA you said that the zkAssets you will add, are the stable ones. My question is: what do you mean by stable? What are the conditions a certain asset needs to meet to be considered stable, since the whole crypto market is so volatile except for stablecoins? And can you give us some examples of assets that are in the add list?

Not just stablecoins, but assets with large market cap and high trading volume (e.g. BTC, ETH). These assets still undergo price fluctuation, but not to the extent seen in small-cap tokens.

Here's another one for you, @GreybeardXFT:

By any chance, is it possible that private transfers with Offshift v2 will get cheaper than normal transactions?

The private part of v2 batches are verifiable for a fixed gas cost, so gas will scale accordingly with batch size and usage. With enough users, private transfers could cost less than the standard 21k gas.

@nXoFoTb Can you explain the role of the sequencer(s)? Is this a permissionless network of nodes (like relayers?). How would it be different from a decentralized set of sequencers for an L2?

Sequencers act as proof aggregators and transaction relayers. They receive individual transaction proofs from end-users and bundle them together to generate a recursive proof that is verified via smart contract. As far as we know, there are no fully decentralized L2 sequencers in production at scale yet.

And @GreybeardXFT;

Is the Merkle tree of balances produced on chain before being deposited to the rollup? If it's not the case, then what makes PureL1Rollup's setup censorship-resistant?

There are no stored balances, but there is a stored state tree root. Publishing a batch of transactions will require the inclusion of all queued non-withdrawal transactions, can be done by anyone, and there are fee incentives to publish first. As soon as the accumulated pending transaction fees exceed the gas cost to verify the batch, anyone can accept the fees to verify the batch.

The next one is also for you, @GreybeardXFT:

When using zk-SNARKs, transaction processing requires strong hardware setups. So, who's going to be responsible for running the operator node and the coordinator (if any)?

End users will generate proofs for their own transactions, just like v1. The on-chain queue and mempool transactions can be published permissionlessly by anyone.

The sequencer/publisher does not have to do the proving for the contents of each transaction, only verifying the user's submitted proof. Recursion allows us to avoid having to repeat proving work, splitting the bulk of the proving cost between the actual users of each individual batch.

@nXoFoTb, a short question for you:

On Offshift v2, is there a similar 0.05 ETH deposit needed as on v1?

Users will be able to deposit ETH, but a fixed ETH denomination is not necessary.

And,@nXoFoTb,

It was mentioned by one of the devs that costs will be reduced by up to 70% between confidential assets. How much will it be reduced approximately when minting confidential assets from XFT?

Smart contract verification has a fixed cost, therefore gas savings are a function of batch size. In the case of deposits, which use the on-chain queue, this depends on the maximum queue size.

@nXoFoTb, I'd like to ask you something else:

Hi team, how far is v2 from the original Offshift zk plan? Is it the same, did you solve the problem or is it not quite there yet? And if so, will you be working on it in the future?

Offshift v2 will enable confidential transfers like Offshift zk, but with the added benefits of batch-verification that the zk platform would not have provided. In addition, the zero knowledge proving scheme is different from Offshift zk (PLONK instead of Bulletproofs).

@MugiXFT, this one’s for you:

For Offshift 2.0, are there plans to have a ‘test site’ to allow users to play about with shifting without committing real funds? If so, I would also think it would be good this time to keep a test site open (exactly in the same format as how the real one will operate) and run it in parallel when 2.0 launches. This will help new users and newcomers to understand the mechanisms and give confidence about using the real one.

We'll be doing an exhaustive testnet this time around, and will likely continue to operate it after launch to test new upgrades (with the eventual goal of ossifying it). We're also planning on releasing guides for new users to follow along on the test site.

We have more on our post v2 technology roadmap and intend to incrementally introduce features until we're satisfied with the platform build out, but at this time we are focused on the v2 launch and dont want to promise any features we have not finalized yet. Our primary goal after launch will be to tweak the user experience, the ease of use for devs, and improve new user onboarding with feedback from our community.

Experienced team is the most vital thing in building company growth, a project will not develop without being managed by an experienced team, whatever it is good. so, how about project? does your team have good experience in the cryptocurrency world?

With confidential transactions, there's always a risk of mismanagement leading to accidental loss of funds. What measures are in place to help users recover assets or prove ownership in case of mishaps?

With the reduced on-chain Merkle Tree insertion and significant gas savings, how does Offshift 2.0 plan to ensure that these cost benefits are passed on to its users effectively?

The PureL1Rollup introduces a novel hybrid approach combining various cryptographic techniques. How do you ensure that the interactions between these techniques are free from unintended side effects that could compromise the system's security?

You mentioned the importance of maintaining the Merkle Tree within the circuit. Could you explain how Offshift 2.0 ensures the validity and consistency of the Merkle Tree while keeping it off-chain, and how this contributes to the overall security of the platform?

Given the evolving nature of blockchain technology, how does Offshift 2.0 plan to adapt and stay ahead of potential security threats and emerging scalability solutions

When will we go back to doing video AMAs? Voice changer and mask and LFG 🔥

Could you elaborate on the ways in which users can generate yields with their anonAssets within the Offshift Ecosystem? What DeFi applications or protocols are available for anonymous users to engage with?

7️⃣7️⃣7️⃣ Lucky message! pAc-mAn has received 100 XP!

As you mentioned recursive proving in zero-knowledge, can you elaborate on the technical mechanism behind nesting zero-knowledge circuits within Offshift 2.0's PureL1Rollup and how it enhances transaction verification efficiency?

Compared to other Layer 2 solutions, what advantages does the PureL1Rollup bring to the table, and in which scenarios is it most advantageous to use Offshift 2.0 over traditional transaction methods?

Can you hire stiive to replace Alex?

In traditional finance, regulatory compliance is essential. How does Offshift navigate the regulatory landscape, especially concerning user privacy and anti-money laundering (AML) requirements? What measures are in place to ensure Offshift's compliance with relevant laws and regulations?

With the implementation of the PureL1Rollup, how does Offshift 2.0 address potential challenges related to transaction finality and confirmation times, especially during times of high network congestion?

Offshift's commitment to decentralization is commendable. How do you plan to navigate potential challenges related to network governance, decision-making, and protocol upgrades while maintaining a strong, united community?

What are the steps or unique plans you guys have? not just in Marketing but also strategy you have to make investors convince that Offshift can compete with other project that has same utility or concept!

As the PureL1Rollup leverages zero-knowledge circuits, how does it handle potential challenges related to the computational requirements and scalability when processing a large number of transactions?

When will we block these airdrop hunting ama bots? It’s annoying and unnessecary

As Offshift aims to offer a solution to the privacy vs. yield generation tradeoff, how does it compare to other privacy-centric DeFi projects in terms of technology, user experience, and security? What are the unique selling points of Offshift that differentiate it from its competitors in the market?

As the crypto landscape evolves rapidly, how does the Offshift team ensure that the PureL1Rollup's cryptographic techniques and privacy features remain robust and resistant to emerging threats or new advancements in cryptanalysis?

As the blockchain ecosystem continues to evolve, are there any plans to interoperate or collaborate with other Layer 1 or Layer 2 solutions to further enhance the scalability and efficiency of the PureL1Rollup?

How does Offshift 2.0 envision the adoption of the PureL1Rollup in real-world use cases beyond cryptocurrency trading? Are there plans to collaborate with other industries to leverage this technology?

The Flex fee concept seems interesting, but it raises questions about how it might fluctuate based on market dynamics. Could you shed light on the mechanisms that determine the Flex fee, and how it adapts to changes in asset prices in real-time?

Best question so far

How do you see the integration of PureL1Rollup impacting the user experience on the Offshift platform? Will it simplify the process of shielded asset transfers for users who might be new to privacy-focused transactions?

One of them liked it so it must be good 👀

With the focus on privacy preservation, how does Offshift 2.0's PureL1Rollup handle potential scenarios where users might want to selectively reveal certain transaction details to specific parties while still maintaining overall privacy?

Offshift 2.0's decision to maintain the Merkle Tree exclusively within the circuit is intriguing. What are the advantages of this approach compared to traditional on-chain Merkle Tree management, and how does it contribute to the overall efficiency and cost-effectiveness of the platform?

😂 I’m not a bot please thank you

The gas savings from the PureL1Rollup are impressive! Can you give us a sense of how much this translates into actual cost savings for users, and how it could make DeFi and other Ethereum-based activities more accessible to a wider audience?

Me neither!

Will Offshift 2.0 be able to protect my embarrassing transaction history from falling into the hands of future AI archaeologists?

Why was the departure of Alex handled so mysteriously? We can’t reverse time but it would have been better to rip off the Bandaid in one go

As we move forward with blockchain technology, interoperability becomes increasingly important. How does the PureL1Rollup integrate with other Layer 1 and Layer 2 solutions, and what role does it play in the broader ecosystem?

If Offshift 2.0 had a superhero mascot, what would its name be, and what superpowers would it possess?

I find your word offensive! Thank you

I still don’t understand the flex fee for zk assets. If one can go in and out of zk without anon assets (XFT), how does anon asset flex fee get involved?

The use of zero-knowledge proofs can sometimes be associated with concerns about the complexity of verification. How does the PureL1Rollup strike a balance between strong privacy guarantees and efficient transaction verification for users?

He was talking about me

I'm terrible at keeping secrets. Can I use Offshift 2.0 to create a "Forget-Me-Never" button for those times when I accidentally reveal my secret decoder ring to everyone?

As a user, what are the key benefits I can expect from adopting Offshift 2.0's PureL1Rollup compared to traditional Layer 1 or zk-rollup solutions?

I think we mentioned a dashboard to track the supply on the Offshift website. Can this be added in the future?

I was talking about based bagsy obviously

How do you plan to stop aliens from using Offshift 2.0 to hide their crypto assets in Area 51, and should we be worried about intergalactic privacy wars?🙈

Deserved.

We will have an upgradable testnet and a long testing period to work out bugs and issues that might arise. Once a circuit is deployed to production and the training wheels are off, there's no going back.

We are considering doing that but for the time being it’s better to use our energy on building the main dapp

For the flex fee, the current details of its functionality match how it is used on v1, and we will have a clearer description of changes in functionality (if any) that will come with v2. There are no additional pools with pegs that can slip for zk assets, so they don't need to be applied directly to it.

As long as the aliens don’t have a quantum computer 100x times better than the ones humans are going to make it’s ok, but can’t guarantee anything regarding that 👀

When the platform is considered feature complete, the goal would be to ossify it and put control of managing which assets are added into the hands of a DAO. The core privacy system would be immutable, however.