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
guess we will have to let time decide who is right on this one fren
Nathaniel Perry
go back to r****t you dense faggot
Aaron Gray
fucking refreshed dextools and it said 'Pair Error'
thought they rug pulled holy shit my heart is beating 500 times a minute
Owen Morales
am I too late shifties? 300 at $1.50
Josiah Ward
just on time
Christian Russell
happens quite frequently on uniswap too "insufficient liquidity". Nothing to be worried about with XFT though, they locked the liquidity. Don't take my word for it, look at the smart contract: >etherscan.io/address/0x6e159c0084e60ab396a6298258b266d6e8ee5f10
Nathan Diaz
Still better than my buy-in price. Anything under $2 is a good bet for the next few days I think, if the market bounces back we'll undoubtedly see 2x minimum considering its competitors have multiples of its market cap
