Offshift is a privacy layer on Ethereum mainnet; its second-generation product Momiji went live in August 2024. Users burn XFT to mint privacy-preserving synthetic assets called zkAssets at 1:1 value, and burn zkAssets to mint XFT back, hiding holdings and transfers on the public chain. zkAssets track a range of on-chain and real-world assets through Chainlink oracle pricing and behave like standard ERC-20 tokens in wallets and DeFi apps.
In privacy-DeFi narratives its shifting mechanism avoids over-collateralization: minting needs no margin and carries no liquidation line, XFT supply self-adjusts as value flows in and out, and entries and exits execute at spot 1:1 with two-way conversion between private and base assets. The cryptography relies on zero-knowledge proofs and Merkle trees to prove ownership without revealing positions; XFT trades near 0.064 dollars with about 1.78 million in circulation.
XFT