Offshift.
A guide to understanding simply the technology, tokenomics, team and vision behind this project.
$XFT #Offshift @OffshiftXFT
/MEGA THREAD 🧵
A guide to understanding simply the technology, tokenomics, team and vision behind this project.
$XFT #Offshift @OffshiftXFT
/MEGA THREAD 🧵
1. Format of the thread
This thread will be broken down into:
-Value Proposition
-Tokenomics
-Vision
-Roadmap
-Price Metrics
Buckle up anon...
This thread will be broken down into:
-Value Proposition
-Tokenomics
-Vision
-Roadmap
-Price Metrics
Buckle up anon...
2. Background
DeFi has opened up a massive pathway in crypto, for individuals to earn a passive source of income based on their risk appetite.
Further to this, privacy has been long forgotten. Often at the expense of individuals.
$XFT aims to solve this tradeoff of privacy.
DeFi has opened up a massive pathway in crypto, for individuals to earn a passive source of income based on their risk appetite.
Further to this, privacy has been long forgotten. Often at the expense of individuals.
$XFT aims to solve this tradeoff of privacy.
3. Vision
The ultimate vision includes a "scalable, interoperable, privacy-centric DeFi ecosystem composed of a diverse range of disruptive platforms and applications".
Termed the #Prifi landscape- "private DeFi".
The ultimate vision includes a "scalable, interoperable, privacy-centric DeFi ecosystem composed of a diverse range of disruptive platforms and applications".
Termed the #Prifi landscape- "private DeFi".
4. Regulation
As most of the individuals in this space are already aware.
Regulation has come with the increasing popularity. There are plans for frameworks to be better integrated into financial infrastructure such as KYC.
This will only increase as TVL in DeFi increases.
As most of the individuals in this space are already aware.
Regulation has come with the increasing popularity. There are plans for frameworks to be better integrated into financial infrastructure such as KYC.
This will only increase as TVL in DeFi increases.
5. Regulation (Part 2)
Monero, Zcash and other privacy coin community bar users from engaging with emerging DeFi.
Further to this, their stand alone nature has led them to being delisted by on/off ramps like exchanges that "cave" into authorities.
Monero, Zcash and other privacy coin community bar users from engaging with emerging DeFi.
Further to this, their stand alone nature has led them to being delisted by on/off ramps like exchanges that "cave" into authorities.
6. Value Proposition
How is this solved?
Using #zkProofs, Offshift mints synthetic, asset-pegged tokens that are intrinsically private.
Users can stake a claim on any asset they like without excessive collateral or liquidation risk.
All in an anonymous fashion.
How is this solved?
Using #zkProofs, Offshift mints synthetic, asset-pegged tokens that are intrinsically private.
Users can stake a claim on any asset they like without excessive collateral or liquidation risk.
All in an anonymous fashion.
7. More on Value (part 1)
-zkAssets minting- using #Ethereum smart contracts and #Chainlink oracle in conjuction.
Users can shift from zkAssets into XFT and vice versa.
-Asset Diversity: all assets with a price feed on one platform.
-zkAssets minting- using #Ethereum smart contracts and #Chainlink oracle in conjuction.
Users can shift from zkAssets into XFT and vice versa.
-Asset Diversity: all assets with a price feed on one platform.
8. More on Value (part 2)
-1:1 Collateral, No slippage, No Margin calls, No liquidations or liquidity risk (burn and mint mechanism).
-Cross Chain: #Polkadot/#Moonbeam, Parity Technologies and PureStake. (low fees)
-Rug Pull Proof DeFi
This is a PRIORITY.
More on this...
-1:1 Collateral, No slippage, No Margin calls, No liquidations or liquidity risk (burn and mint mechanism).
-Cross Chain: #Polkadot/#Moonbeam, Parity Technologies and PureStake. (low fees)
-Rug Pull Proof DeFi
This is a PRIORITY.
9. Rug-Pull-Proof DeFi
Vetting projects for dishonest practice, exploitative tokenomic models, and outright deceit is harder to do nowadays
In response $XFT has employed a Strategic Vesting Model, Lockboxes for On-chain Reserves, and Liquidity Locks.
High Integrity Tokenomics.
Vetting projects for dishonest practice, exploitative tokenomic models, and outright deceit is harder to do nowadays
In response $XFT has employed a Strategic Vesting Model, Lockboxes for On-chain Reserves, and Liquidity Locks.
High Integrity Tokenomics.
10. Tokenomics
-Open source code will be published before Mainnet launch.
-Public Testnet will be experimented with iteratively.
User mints zkAsset- connect ERC 20 wallet- can shift $XFT into synth zkAsset.
Burn and Mint mechanism takes place under the surface.
-Open source code will be published before Mainnet launch.
-Public Testnet will be experimented with iteratively.
User mints zkAsset- connect ERC 20 wallet- can shift $XFT into synth zkAsset.
Burn and Mint mechanism takes place under the surface.
11. Burn and Mint
Offshift’s Burn-and-Mint mechanism burns the user’s XFT and mints a new zkAsset in equal.
At any point, the user may Shift from his zkAsset into XFT, and the process reverses:
The Burn-and-Mint mechanism burns the zkAsset, and mints new XFT of equal value.
Offshift’s Burn-and-Mint mechanism burns the user’s XFT and mints a new zkAsset in equal.
At any point, the user may Shift from his zkAsset into XFT, and the process reverses:
The Burn-and-Mint mechanism burns the zkAsset, and mints new XFT of equal value.
12. Staking Rewards
To both incentivize users to hold zkAssets and to incorporate another DeFi function into $XFT platform.
Offshift has allocated 15% of their Genesis Total
Supply (1,500,000 $XFT) to Staking Rewards.
Staking rewards went live in Q3 2021, so it is still early.
To both incentivize users to hold zkAssets and to incorporate another DeFi function into $XFT platform.
Offshift has allocated 15% of their Genesis Total
Supply (1,500,000 $XFT) to Staking Rewards.
Staking rewards went live in Q3 2021, so it is still early.
13. Fundraising
As an investor, you don't want to be subject to heavy token unlocks.
This is one of the beauties of $XFT.
Offshift raised capital through one round of seed investment and one round of private
investment.
In the interests of decentralizing token ownership...
As an investor, you don't want to be subject to heavy token unlocks.
This is one of the beauties of $XFT.
Offshift raised capital through one round of seed investment and one round of private
investment.
In the interests of decentralizing token ownership...
14. Fundraising (Part 2)
Individual investment contributions were capped at $5,000 in USD-equivalents in both rounds.
Token Allocation
1,500,000 XFT were sold between the seed and private investment rounds.
250,000 XFT were deployed in the Uniswap liquidity pool
Individual investment contributions were capped at $5,000 in USD-equivalents in both rounds.
Token Allocation
1,500,000 XFT were sold between the seed and private investment rounds.
250,000 XFT were deployed in the Uniswap liquidity pool
15. Tokenomics Resources
1,750,000 XFT comprised Offshift’s Circulating Supply as of their August 3, 2020 launch.
Team cannot modify token metrics or vesting- due to "lockbox" smart contracts.
A link to the distribution and wallet vesting schedules:
offshift.io/content/offshi…
1,750,000 XFT comprised Offshift’s Circulating Supply as of their August 3, 2020 launch.
Team cannot modify token metrics or vesting- due to "lockbox" smart contracts.
A link to the distribution and wallet vesting schedules:
offshift.io/content/offshi…
16. Recent Events
Offshift Pilot went live alongside their partnership with Zokyo.
They are focusing on building an interactive User Interface, which will be crucial to their asset centric platform.
Resources:
@OffshiftXFT
offshift.io/public/blog/
Offshift Pilot went live alongside their partnership with Zokyo.
They are focusing on building an interactive User Interface, which will be crucial to their asset centric platform.
Resources:
@OffshiftXFT
offshift.io/public/blog/
17. Price Metrics
Whilst price should never be the main focus, it is important for us as investors.
Current Market Cap is $77,000,000
Fully Diluted Market Cap is $172,000,000
Token Price low (24 hours): $14.76
Whilst price should never be the main focus, it is important for us as investors.
Current Market Cap is $77,000,000
Fully Diluted Market Cap is $172,000,000
Token Price low (24 hours): $14.76
Conclusion
I am excited for the numerous possibilities that $XFT will bring as it deploys UI.
The tokenomics are excellent and second to none. I will be DCAing into a position in the coming week.
zkProof holds a strong narratives this year thus far and I am excited for $XFT.
I am excited for the numerous possibilities that $XFT will bring as it deploys UI.
The tokenomics are excellent and second to none. I will be DCAing into a position in the coming week.
zkProof holds a strong narratives this year thus far and I am excited for $XFT.
If you want to learn more about promising DeFi and Altcoin projects.
I post every day about different projects, breaking down the tech and fundamentals for you to understand easily.
I also drop some important alpha on Medium for you, linked below:
medium.com/@crypto8fi
I post every day about different projects, breaking down the tech and fundamentals for you to understand easily.
I also drop some important alpha on Medium for you, linked below:
medium.com/@crypto8fi
Thanks for reading!
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