Thread by @MStiive

1/ Microcap megathread; Offshift $XFT.

@OffshiftXFT is a cross-chain privacy-as-a-service by use of zero knowledge synthetic assets (zkAssets) on $ETH and $DOT/ $KSM (via moonbeam) networks.

zkAssets will be the first to allow for privacy in DeFi = #PriFi.

This will be huge!

2/
Through 1:1 value exchange of $XFT, any synthetic asset with a $LINK price feed can be minted as a zkAsset.

For example, mint zkBTC, zkXAU (gold), zkUSD, etc.

The value and type of the asset is then encrypted and private. You are now free to trade/invest this asset privately

3/
To mint zkAssets, 100% collateral of $XFT is burned.

On reverse, zkAsset is burned and equivalent $XFT is minted at the new value ratio.

Therefore $XFT supply is elastic to the net value of assets being minted/burned.

No lending interest %, no margin calls, no liquidations

4/ In true privacy fashion, the team is anon, but with public wallets addys, gradual vesting until 2026, and anti-rug lockboxes.

Private sale was limited to $5k per investor, with a total of $200k raised = no VC dumps.
Token has been trading since Aug, so all weak hands are out!

/5
Code is not yet open source (apparently so they don't get forked) until mainnet launch in April.. yes mainnet just days/weeks away!

However, the Ethereum and moonbeam testnets are live and can be played around with - so we know they have working tech.

Audit planned by Zokyo

6/ zkAssets are fully private, and do not show up in ethplorer or etherscan.
Even if one sees the token, they won't know the asset type (zkBtc, zkXAU, etc) or it's value without the zkProof. It's a blank note.

All zkAssets are however fully fungible and can be traded like ERC20

7/ As demand for privacy increases, more zkAssets will need to be minted.
As there is no interest attached, there is no incentive to ever burn the assets, so they can remain in privacy land forever. This leads to fewer $XFT supply, perpetual deflation, and ever higher $XFT price.

8/ If a whale wants to mint private zkAssets, the price of $XFT is irrelevant.

For example, a $50k zkBTC can be minted via 10,000x $5 $XFT, or 10x $5,000 $XFT.

In each case, $50k worth of $XFT will be burned 🔥

Only the circulating MC of XFT matters (which reduces with burn).

9/
The total $$ market cap of $XFT limits how many zkAssets can be minted. Currently just $15M of zkAssets would burn the entire $XFT supply!

It's never been required or expected to publicly declare private bank balances, so expect big money to want to keep status quo = $B+ TAM

10/ The cost of service (minting zkAssets) does not increase with price of XFT, so no force function to supress $XFT price.

+ Demand is limited only by marketcap, with potential $BILLIONS of TAM = $B+ MC

+ Once mainnet is live in a few weeks, XFT will be hella deflationary

=?

11/ And this is just the start!
Future plans include creating a whole privacy-centric ecosystem around these private synth zkAssets

This includes #PriFi & yield farming, DEX, borrowing and lending, insurance, and NFT exchange.. all fully anonymous & powered by $XFT = MORE demand

12/ TLDR;
1. Burn XFT to mint privacy assets
2. Number of privacy assets limited by XFT marketcap
3. Billions of $ of TAM for privacy

= high demand for zkAssets which necessarily requires increasing $XFT market cap, while simultaneously necessarily decreasing it’s supply = MOON

/13
contract: 0xabe580e7ee158da464b51ee1a83ac0289622e6be

website: offshift.io

Pitchdeck: offshift.io/content/offshi…

whitepaper: offshift.io/content/offshi…

Dex: dextools.io/app/uniswap/pa…

uniswap: app.uniswap.org/#/swap?inputCu…

glhf.