Offshift January Community Call & PriFi AMA Recap
Never a dull moment at Offshift. Catch up with all that’s happened in the first month of 2022.
Welcome PriFi Pioneers! Our January community call took place on the 27th. As always, we kicked off with some community updates:
- Offshift will be at ETHDenver 2022, February 11-20! Our CSO Alex Shipp will be on the ground for panels, workshops, PriFi demos, and more. Check out our full rundown of the week, and see you there!
- In early January, we published our most extensive tokenomics review of Offshift and XFT — specifically, the novel ‘Burn and Mint’ mechanism. The TL;DR is that Offshift users can burn their Ethereum XFT and mint private, zkAssets on Offshift. They can then burn those zkAssets and receive the same amount of Ethereum XFT, even if prices have fluctuated. Trust us, it’s a lot more interesting. So check out the full tokenomics overview.
- Speaking of zkAssets, our development partner Zokyo has been working with us towards mainnet launch. Our most recent dev update mentions the team working to enable BTC, ETH, XAU, and USD as zkAssets come mainnet launch.
- We know Offshift can seem complicated. Zero knowledge, mint and burn, PriFi, pilot programs, and more — there’s a lot to learn, and a lot to keep up with. In January, we announced the Offshift Academy. The Academy is the community’s home for educational content and resources for all that’s to come in the Offshift ecosystem.
Tuning in to our recaps for the first time? Catch up with our December community call and PriFi AMA recap.* Check it out!
We opened up the floor to our community members and got a host of great questions, including:
1. How should the community feel that there’s no VC involvement in XFT?
2. Once zkAssets are minted and they are deposited in a wallet, can I send them over to another wallet without converting back to XFT?
3. When converting XFT into zkAssets, what are the associated fees? Are they comparable to swapping on Ethereum DeFi protocols like Uniswap?
4. In the recent Offshift Academy video you pointed out that in the long run the Offshift ecosystem aims to incorporate several DeFi applications. Who decides which applications will be deployed on the ecosystem?
5. Is XFT inflationary, deflationary or both? Also, how to mitigate specifically the risk of not finding enough liquidity in the market to sell XFT tokens minted after burning zkAssets?
6. What’s the best way for someone like me (not too savvy with DeFi) to earn passive income for the long term with my XFT?
7. Will there be an official Offshift TVL counter/chart, or any other indication of burned/minted token?
8. What are the plans to market the platform after mainnet launch?
9. Are there any more plans to collaborate with other privacy sector coins like we did with xxp on the spaces earlier this month?
10. What makes XFT better than other similar projects like Secret Network and why do you think the project will survive?
11. How will the team secure liquidity on the platform itself during the first months of the platform being live?
12. Is Zokyo also addressing the possibility to “game” the protocol as part of the audit?
Thank you to everyone who joined us this month! And especially 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 25 XFT to 3 community members who submitted questions prior to our call.
January winners are Offshift Discord members:
@Gomu Gomu no Mi
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