The Offshift (XFT) project that addresses the segment of privacy-focused derivatives trading has announced a major rebranding on the eve of its mainnet iteration release. Which elements of the Offshift (XFT) ecosystem are set to be reconsidered?
New documents, PR channels and whitepaper for Offshift (XFT)
According to a recent press release shared with U.Today, the Offshift project decided to reconsider its documentation and PR strategy as its system approaches mainnet launch. As per the Offshift (XFT) roadmap, the mainnet build will be unveiled as soon as April 2021.
The Offshift rebrand will bring a completely new whitepaper, a revamped pitch-deck and new technical documentation to cover all of the project's mechanisms. Meanwhile, the core concept behind the project—a proprietary private derivatives platform, on-chain Private Finance (PriFi)—remains untouched.
The new website and new public communications strategy will be laser-focused on creating a refreshed image of Offshift, making it more understandable and recognizable for all members of the global cryptocurrency trading community.
The major revamp goes hand-in-hand with a solid technological background. The project team underlines that they are way ahead of schedule in terms of progress both on Ethereum (ETH) and Moonbeam, an EVM-compatible parachain of Polkadot (DOT).
Bringing zk-proofs to derivatives trading
Advancing the privacy level of derivatives trading is a backbone concept behind Offshift's (XFT) progress. Once its mainnet launches in April 2021, it will offer zkBTC and zkXAU zkassets, synthetics of Bitcoin (BTC) and Gold (XAU).
Utilizing zkERC20 Confidential Token Standard, Offshift (XFT) brilliantly increases the level of privacy for the Ethereum (ETH) and Polkadot (DOT) ecosystems. The project harnesses the potential of zero-knowledge proofs. Zk-proofs allow transactions to be included into blockchain without disclosing their details, i.e., time and the amount and wallets involved.
Besides using zkBTC and zkXAU in crypto derivatives trading, Offshift (XFT) clients can earn rewards in zkAssets and utilize them as a currency for peer-to-peer transactions and even implement them in point-of-sale machines.