DeFi Platform Offshift Undergoes Makeover With New ‘PriFi’ Slogan

By Casper Brown
Published February 9, 2021 Updated February 9, 2021
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DeFi Platform Offshift Undergoes Makeover With New ‘PriFi’ Slogan

By Casper Brown
Published February 9, 2021 Updated February 9, 2021

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. 

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.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Casper Brown
382 Articles
I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.

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