Shift to Multi-Chain
Building On Moonbeam
The Offshift team is proud to announce a major shift in strategic direction.
As of today, we have completed an initial integration of the Offshift platform onto Moonbeam, an Ethereum-compatible smart contract parachain on Polkadot.
Offshift’s Moonbeam TestNet dashboard can be found here, and a step-by-step walkthrough to perform ERC-20 to ERC-20 shifts on Substrate is linked below.
As a powerful, decentralized application dedicated to privacy-centric storage and exchange, Offshift will best serve users and extend access to its community by catering to multiple blockchain ecosystems — an imperative that will only become increasingly important as blockchain-based technologies mature. Thus, while we will continue striving to build out our Shifting application and zkAssets on Ethereum, we will also be advancing development on Moonbeam in parallel.
Moonbeam is a highly specialized Polkadot parachain that mirrors Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more. It allows developers to re-deploy existing Ethereum smart contracts to Polkadot with minimal changes, and has pre-built integrations for DOT, ERC-20, and infrastructure services like Chainlink, Offshift’s oracle provider. Moonbeam also extends the base Ethereum feature set with the addition of on-chain governance and staking, providing ready-made solutions for two of Offshift’s key components.
In addition to reaping the benefits of the Polkadot Relay Chain’s pooled security and Moonbeam’s EVM and smart-contract compatibility, Offshift stands to contribute a great deal to Moonbeam’s parachain economy and the broader Polkadot ecosystem.
As privacy becomes both a matter of increasing importance and authoritative scrutiny, users and developers alike seeking to utilize Moonbeam’s platform will also be able to access Offshift’s full palette of private, synthetically-pegged zkAssets.
The expanse of applications and use case scenarios for which developers building on Moonbeam can integrate zkAssets is limitless — whether for payments, Point-of-Sale, or any number of innovative DeFi applications based on privacy. Offshift’s vision for the future involves a robust ecosystem of secure DeFi applications that protects individual privacy, and we are excited at the prospect that such an ecosystem may emerge on Moonbeam.
The vision laid out by those pioneering the Substrate Blockchain Framework and Polkadot ecosystem resonates with our own: the future smart economy will consist of a network of diverse blockchains dedicated to specific functions and communities. As such, the technologies that enable interoperability and promote inclusivity across chains will play integral roles in facilitating seamless economic activity. With our integration onto Moonbeam, Offshift is poised and eager to carve a path to multi-chain private synthetic assets and value storage.
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. As a parachain on the Polkadot network, Moonbeam will benefit from the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot. Currently, in active development by PureStake, Moonbeam is expected to reach MainNet by early 2021. Learn more: https://moonbeam.network/
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: