Offshift

Within the crypto space, the 2020s have quickly proven to be the decade of DeFi (Decentralized Finance). However, growing interest in DeFi has relegated cryptocurrency’s privacy-centric origins to the sidelines. Users now must choose between cutting-edge platforms designed to maximize yields and standalone privacy applications whose infrastructure and assets permit limited integration potential in other protocols, thereby limiting yield generation. Others still incorporate elements of centralization by relying on rollups and other Layer 2s for obfuscation and off-chain computation. In short, protecting privacy now comes at the expense of either putting capital to work, or critical infrastructure components that are needed to support decentralized systems. There exists substantial, untapped demand in Ethereum’s DeFi ecosystem for a technology solution that eliminates the financial tradeoffs between privacy and DeFi while remaining true to cryptocurrency’s founding principle of decentralization.

The Offshift Ecosystem is a fully on-chain, non-custodial ecosystem of PriFi Applications designed to provide protections for user privacy without compromising yield potential or decentralization. The Offshift Ecosystem is developed by Offshift Core, the ecosystem's core development team, and powered by XFT, a public ERC20 token that confers access to ecosystem applications via Burn-and-Mint Tokenomics. Users interact with applications through a process called Shifting, whereby XFT is burned to mint synthetics in various protocols, and vice versa.

Offshift dissolves the existing tradeoff between privacy and everything-else-crypto using zero-knowledge (zk) proofs to mint synthetic, asset-pegged tokens that are intrinsically private. On Offshift, users can stake a claim on any asset they like, without dealing with slippage, excessive collateral requirements, or liquidation risk, and all while maintaining personal privacy. Essentially, Offshift enables individuals to anonymize their crypto holdings, so they can invest in the technologies they believe in without the drawbacks related to exposure and public profiling. Privacy is a right - not a crime; as all individuals are innocent until proven guilty, they ought to be treated as such.

Offshift’s Private Derivatives Platform enables the minting of zkAssets, a proprietary line of private synthetics. Leveraging zero-knowledge proofs, Ethereum’s turing-complete smart contracts, and Chainlink’s decentralized oracle network in conjunction, Offshift enables users to mint a wide array of zkAssets using its native token, XFT. Users can Shift from XFT into zkAssets, and from zkAssets back into XFT with ease. Simply put, zkAssets fuse privacy-as-a-service with existing DeFi tools to provision a revolutionary line of derivative instruments that accessorize privacy.

Offshift does not make privacy a universal, augmentable feature per se, as the platform never interacts directly with any assets beyond XFT and the zk-varieties it generates; zkAssets are synthetic by default. Consequently, there is virtually no limit to the expanse of assets Offshift’s protocol is capable of tokenizing; Offshift is fully capable of supporting any asset as long as there exists a market and a price feed - that means not only all tradeable cryptocurrencies and fiat currencies, but gold, silver, other commodities, and virtually anything with a price feed. Offshift stands to offer one of the most versatile and diverse trading environments in the global financial industry, and all while providing complete privacy for each and every one of its users.

Unlike other DeFi platforms that allow users to mint synthetic assets, Offshift’s Private Derivatives Platform does not impose excessive collateral requirements of any kind; over-collateralization is an outdated mechanism that is not capital-efficient. With Offshift’s proprietary Burn-and-Mint mechanism and corresponding elastic supply model, users are afforded a seamless and stress-free trading experience, completely void of slippage and related liquidity risks. Accordingly, when users mint zkAssets, they never have to worry about margin calls, liquidations, or periodic fees to maintain their positions.