DeFi Platform Offshift Undergoes Makeover With New ‘PriFi’ Slogan

New DeFi platforms are popping up like there’s no tomorrow. And with a crowded market, it can be difficult to get people on board. 

One Ethereum platform is revamping nearly everything — except for its actual mission — in an effort to gain more attention. 

DeFi platform Offshift, which runs on Ethereum and Polkadot, today said in a Medium blog post that a revamp will take place ahead of its mainnet launch. 

The revamp will include a new interface and website, more engagement on social media, regular blog posts and even an updated whitepaper — but the company will still do what it says on the tin: to allow users to convert ERC-20 tokens into private zkAssets. 

“It goes without saying that our purpose, our platform, and our core principles remain unchanged; we are a like-minded team of individuals dedicated to protecting privacy rights in the digital space, and we will continue to develop our application on that accord,” the company said in a statement. 

The revamp includes a new interface and website, more engagement on social media, regular blog posts and even an updated whitepaper. 

“Thus, as we continue toward a highly anticipated Mainnet release, we will be dedicating increased attention to our presentation and community-facing channels,” the company added. 

New branding incoming…$XFT #PriFi #Crypto #ETH #DOThttps://t.co/T4q60rNUux

— Offshift (@OffshiftXFT) February 8, 2021

Who is OffShift and What is PriFi?

What does Offshift do though? Well, built on a permissionless chain (the first of its kind), it is a cryptographically private offshore storage & DeFi protocol on Ethereum and Polkadot. Its anonymous founders understand the demand for privacy-first financial instruments and see Offshift as the clear solution. While DeFi is a scorching hot industry at the moment, the need to separate themselves from the pack led to the coining of the term ‘PriFi’ aka private finance. 

It has integrated Chainlink’s market-leading decentralised oracle network to securely and reliably bring accurate, transparent, real-time price data from the off-chain world to the Offshift ecosystem on Ethereum. 

Users can mint, burn, and trade zkAssets based on a fair market price of the underlying collateral at the time of the shift, leading to private digital assets within the DeFi world. Its native token, XFT was trading $1.91 at the time of this writing according to data from Coingecko.