Offshift November Community Call & PriFi AMA Recap
In November’s community call, we covered some questions from the community about the present and future of Offshift. We also had a small code demo to demonstrate how far we’ve come.
In this month’s update, we discussed what steps the team has taken to get the word out to others in the Web3, privacy, and DeFi communities, and the upcoming events Offshift will be attending. We also had questions that ranged from simple explanations of how zkAssets work to more complex questions concerning the future of the project’s development.
- CSO Alex Shipp discussed his op-ed in The Defiant: How Zero-Knowledge Proofs Became Ethereum’s Magic Bullets.
- Across blockchain media, we’re seeing conversations about zero knowledge pick up, as people not only continue to recognize the value of privacy, but also realize the scalability opportunities of the technology as well. As a result, Offshift has gotten some more mentions in the space! Including Yunt Capital, which premiered Offshift in their Medium blog post about PriFi.
- A member of Hartmann Capital took to Twitter with a thread on PriFi, and highlighted Offshift as well.
- The Offshift and Zokyo teams have been hard at work moving towards mainnet. There are a few pushing for more marketing efforts, and a couple of events are upcoming to promote Offshift to the general community:
- DeFi Con: Taking place in Brooklyn from December 18-19. Alex will be on a PriFi panel.
- ETHDenver: This is the biggest Ethereum event of the year, happening from February 11th to 20th, 2022. Offshift will be a “Meta Sponsor” for the conference, and we’ll be at the conference to hack, speak, present, talk, and meet.
Next, Victoria from Zokyo demoed Shielded Deposits on Ethereum’s Rinkeby Testnet. The demo featured live interactions with our shifting contracts on Rinkeby and showcased some of the cryptography that we’ve built in.
After that, we went into the AMA section, which covered a lot of fascinating and pertinent questions, including:
- What happens if we want to swap tokens native to the Offshift ecosystem? Do we need liquidity providers for the swap, or can it all occur within the Offshift economic ecosystem?
- Will Offshift be seeking information for other oracles aside from Chainlink if the demand appears, or if Offshift wants to expand availability for new derivatives?
- How will Offshift handle the liquidity of XFT, given their mint-and-burn tokenomics?
- Is it possible that staking rewards will lead to a net value outflow, increasing the CFT supply and reducing the token price?
- What is the revenue model for the team?
- Where does the team see most of its adoption coming from, institutions or individuals, and if institutions, which ones are interested? Has any discussion happened behind closed doors?
- When is the mainnet expected to be launched? What problems and kinks does the team still need to work out?
We also had Victoria explain how zkAsset transactions work. She breaks down zkAssets and compares them to banknotes with invisible ink.
A special thanks to all who joined us this month for the live call and 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 3 community members who submitted questions prior to our call. November winners are Offshift Discord members:
Become a PriFi Pioneer & join us on: