Overview >Offshift is a cryptographically private offshore storage & DeFi protocol on Ethereum >The first token to utilize the new EIP for encrypted token transfers using zero-knowledge proofs >Will allow you to send and receive zkTokens (e.g. zkUSD, zkETH) which completely privatizes number of tokens transferred and held >XFT tokens are burned in order to mint zkAssets >Extremely early stage project, literally the ground floor, only listed on uniswap currently: uniswap.info/token/0xabe580e7ee158da464b51ee1a83ac0289622e6be
The Tech This standard defines a way of interacting with a confidential token contract. Confidential tokens do not have traditional balances - value is represented by notes, which are composed of a public owner and an encrypted value. Value is transferred by splitting a note into multiple notes with different owners. Similarly notes can be combined into a larger note. Note splitting is analogous to the behaviour of Bitcoin UTXOs, which is a good mental model to follow. More info here: >github.com/ethereum/EIPs/issues/1724 Test transactions on zkDAI >etherscan.io/address/0xc5c0b2e7a265c96d29ae1e4e70cd542dedc87aee
Tokenomics >$2mil marketcap >$1mil volume >$150k liquidity locked, here's the smart contract before anons start saying "rug pull": etherscan.io/address/0x6e159c0084e60ab396a6298258b266d6e8ee5f10 >total supply: 10mil >circulating supply: 1.75m >rest is all locked with vesting plans, none released until 6 months after listing >most is dedicated towards staking and rewarding users for using the ecosystem, which begins late Q4
Competitors >Monero $1.7bil marketcap >Zcash $920mil marketcap >Haven $22mil marketcap >Offshift $2mil marketcap Each of those are their own blockchain, where as Offshift is utilizing Ethereum giving it much more value and usecases, allowing zkAssets to interact with other defi protocols etc. Very unique value proposition
Right now the volume is increasing, whales are getting in 20ETH at a time and the number of addresses is growing pretty fast. Currently 700 addresses, was only 400 yesterday. Short term I'm expecting this to 5x before going into consolidation whilst development is happening
Only 10 million XFT. This can easily hit 100mm in the short term given that it's scarce as fuck. I got a 10K sui
Christopher Diaz
thanks for ruining my post order faggot
Jose Turner
Was about to get my stack up to 10k at $1 today but something came up and when I checked back it was already $1.2.
At least it’s going up again and also what I can make with XFT is tiny compared to my STA stack.
Nathan Sanders
>what I can make with XFT is tiny compared to my STA stack Wrong. Xft is way more scarce and useful
Aiden Clark
current circulating is 1.75m and wont start going up until october :^)
Aiden Brown
it will take years to reach total supply
Adam Cooper
Investing in Johnny feels like investing in a vitalik or Sergey that nobody knows about
Caleb Clark
>yfw this becomes the XMR of deFi
Charles Reyes
I have never been this early in my entire life
Evan Hall
This requires you to put a lot of faith in the devs doing what most people consider impossible. While I support people that try to achieve the impossible, it is hard to do if it means I could lose a lot of money if they fail.
Also, how will this work with ETH 2.0?
Jason Phillips
This is far from impossible. It's a couple weekends of coding if you're good
Sebastian Barnes
What I’m saying is that I cannot possibly have an XFT stack large enough for it to be worth more than my STA will be.
Currently XFT should be over $20 for that to happen and as STA is mooning that won’t be enough tomorrow.
Aiden Nguyen
understandable user, STA is a solid coin long term, wouldn't sell your whole stack. If you do start to slowly take profit, should definitely siphon it into XFT
Noah Cooper
wasn't there already some success shown recently on a test net or something? ill try to find it, user was posting about it earlier
Isaiah Watson
I am seriously considering flipping my profits from all my other coins into this for the long haul I'm not even fucking kidding, this could pay off big time
Jonathan Hill
but it's not impossible user, it's already working tech. They're just building the protocol to allow you to bridge into zkAssets with Offshift
yeah here user >github.com/ethereum/EIPs/issues/1724 Test transactions on zkDAI >etherscan.io/address/0xc5c0b2e7a265c96d29ae1e4e70cd542dedc87aee
Jason Robinson
depends on your risk tolerance and what you're holding desu, would pay off big time if you're willing to wait. Short term it's really starting to gain a lot of traction, we're at 732 holders now and climbing fast
Kevin Walker
Dumped this shitcoin Trash Pajeeet shit
Anthony Jackson
bye faggot
Cameron Nguyen
seriously, if this works it will be a DeFi flavored XMR
Jeremiah Ward
huge potential, hopefully biz hops on board before it takes off, could be our coin
Benjamin Howard
shitcoin that never moves past 1.50 lmao. waste of eth to buy into. Get statera instead.
Isaiah Ward
>never moves past 1.50 its brand new you shit head
Ryan Morgan
>shitcoin that never moves past 1.50 it's only been there for a few hours user, the absolute state
Aiden Campbell
yet no one cares. other brand new coins are pumping and no one literally cares about this project. Youre welcome for the bump.
