Offshift July Community Call & PriFi AMA Recap

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Zokyo provided their first official development update since the Yellowpaper & Roadmap, and we answered your questions about Offshift, privacy, and more.

On this month’s Community Call & PriFi AMA, our guests included Zokyo cryptographer Victoria Grasshopper and Project Manager Vitalii Odnovol.

We started the call with a few community updates:

Then Zokyo provided the first official development update since the launch of the Offshift Yellowpaper and Development Roadmap. We discussed:

  • The structure of the smart contract and the structure of the client-side app.
  • Zokyo has implemented the non-mathematical parts of the application, primarily the deposit because it is the starting point of a smart contract (a stub for the math part was used).
  • Next they’re working on a simple EC Pedersen commitment generation and verification.
  • For users, these updates mean that Shifters will be able to send funds and commitments to the smart contract, and that the smart contract, in turn, will verify the commitment. Read the full Dev Update here.

Next we dove into the AMA section. Community questions this month included:

  • When you mint XFT into a zkAsset like zkBTC for example, and over the holding period it increases in value relative to XFT, when it is Shifted back to XFT will the Shift change the maximum total of XFT tokens?
  • How will the fluctuation of price points of a zkAsset correlate to the tokenomics of XFT if, for instance, asset increases in comparison to XFT after burning and minting?
  • Say you once bought a pizza with Ethereum and your wallet address is now on the street so that no matter where you send your assets, somebody will also be able to follow the trail of transactions and know which wallets you control. Would Shifting in and out of zkAssets be the perfect way to remain anonymous and avoid detection?
  • Will a wallet be able to withdraw a zkAsset back to XFT if it wasn’t the original depositor?
  • I’m having some difficulty understanding how the token supply will be set at a fixed amount when mainnet is fully operational. When users convert zkAssets back to XFT, the potential exists that new XFT would have to be generated to compensate for potential fluctuations between the price of XFT and the asset being converted. What systems and structures are in place to prevent possible massive inflation of XFT?
  • Good projects always have an experienced team behind them. Can you tell anything about your mostly anonymous team— something about their experience in the market?
  • I am quite impressed with your project name, so can you tell me where it comes from? What does it mean to you and why did you choose that name for your project?

A special thanks to all who joined us this month for the live call, and to those who submitted questions! Offshift hosts Community Calls every month, and you can submit your questions directly on Discord in advance, or bring them with you to ask us live. This month we gave away 100 XFT to 2 random call participants so make sure to join us next month!

Here are our July winners:

- adzy#4983

- angxyz#0615

Become a PriFi Pioneer & join us on: