Update Offshift anon Litepaper.md

2957a5af · Johnny · 52922d57 · 2957a5af
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Offshift anon Litepaper.md Offshift anon Litepaper.md +9 -13

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--- a/Offshift anon Litepaper.md
+++ b/Offshift anon Litepaper.md
@@ -2,7 +2,7 @@

 *An On-Chain Synthetics Platform for Anonymous Yield Generation*

-*NOTE: The Offshift anon Litepaper is a living document whose contents may be modifed by Offshift Core in response to ongoing research.*
+*NOTE: The Offshift anon Litepaper is a living document whose contents may be modified by Offshift Core in response to ongoing research.*

 ## Table of Contents

@@ -57,13 +57,12 @@ Offshift anon is a fully on-chain, non-custodial platform designed to provide pr

 ## A. Capital Dynamics

-On Offshift anon, users may perform three different capital transfers.
+On Offshift anon, users may perform two different capital transfers.

 | Offshift anon Capital Transfers |
 | ------ |
 | **1. From XFT to anonAssets** |
-| **2. From anonAssets to anonAssets** |
-| **3. From anonAssets to XFT** |
+| **2. From anonAssets to XFT** |



@@ -71,11 +70,11 @@ Offshift also facilitates two different Shifting types.

 #### 1. Anonymizing Shift (anonShift)

-An Anonymizing Shift, (herein referred to as an anonShift) both (a) dissociates sender of funds from receiver of funds, and (b) may change the form in which the Shifted value is stored. An anonShift with input XFT will always output one of several anonAssets. An anonShift with input anonAsset will always output one of several anonAssets, whether the same as or different to corresponding input.
+An Anonymizing Shift, (herein referred to as an anonShift) both (a) dissociates sender of funds from receiver of funds, and (b) may change the form in which the Shifted value is stored. An anonShift with input XFT will always output one of several anonAssets.

 #### 2. Simple Shift

-A Simple Shift is transparent and confers no anonymity; it simply shifts value from one asset type to another. A Simple Shift with input anonAsset will always output XFT. A Simple Shift with input XFT will always output anonAsset. A Simple Shift is less computationally intensive than an anonShift, and thus cheaper and more conducive to arbitrage operations that support price parity for anonAssets in public markets.
+A Simple Shift is transparent and confers no anonymity; it simply shifts value from one asset type to another. A Simple Shift with input anonAsset will always output XFT. A Simple Shift with input XFT will always output anonAsset.



@@ -84,17 +83,14 @@ A Simple Shift is transparent and confers no anonymity; it simply shifts value f

 ||**Anonymizing Shift**|**Simple Shift**|
 | :-- | :-: | :-: |
-|**XFT to anonAssets**|**✓**|**\***|
-|**anonAssets to anonAssets**|**✓**||
+|**XFT to anonAssets**|**✓**|
 |**anonAssets to XFT**||**✓**|

-**Simple Shifts are only activated in response to conditions whereupon one or more anonAssets exceed price parity due to incremental buy-side pressure. Under these circumstances, Offshift anon's Simple Shifts allow arbitrageurs to restore price parity efficiently by Shifting from XFT to anonAssets at the lowest cost possible. When price parity is restored, the Offshift anon protocol deactivates Simple Shifts.*

 ---



-
 ## B. Shifting Circuit

 In executing an anonShift, Offshift’s Shifting Circuit functions as follows.
@@ -103,7 +99,7 @@ In executing an anonShift, Offshift’s Shifting Circuit functions as follows.

 #### 1. Fetch Price Feed

-As a prerequisite to beginning an anonShift, a user must hold and approve an amount of the input asset (XFT or anonAsset) that is greater than or equal to the output amount specified in the deposit contract. Since the input and output are different assets, a price feed is fetched to ensure a depositor has a sufficient balance. If so, the user must then grant the spender (the deposit contract) an allowance of the input asset greater than or equal to the required input amount.
+As a prerequisite to beginning an anonShift, a user must hold and approve an amount of the input asset (XFT) that is greater than or equal to the output amount specified in the deposit contract. Since the input and output are different assets, a price feed is fetched to ensure a depositor has a sufficient balance. If so, the user must then grant the spender (the deposit contract) an allowance of the input asset greater than or equal to the required input amount.



@@ -160,13 +156,13 @@ Offshift anon’s platform tokenomics incorporate various tools and incentives t

 Like all PriFi Applications in the Offshift Ecosystem, Offshift anon employs Burn-and-Mint Tokenomics to facilitate seamless capital flows between XFT and anonAssets.

-The **Burn-and-Mint Mechanism** burns a user’s XFT and mints an anonAsset of equal value. At any point, a user may also **Shift** from an anonAsset back into XFT, and the process reverses: the **Burn-and-Mint Mechanism** burns the anonAsset, and mints new XFT of equal value to the user’s designated ERC20 wallet address. Via the Burn-and-Mint Mechanism, users may also Shift between different anonAssets, or Shift into the same anonAsset for the purposes of achieving anonymity. Such a model enables users to mint, store, and exchange anonAssets free from collateral requirements and the margin calls and liquidations that come with them, making for a simplified and cost-efficient trading experience. It should be noted that although such a tokenomic model demands an elastic supply model for XFT, it does not imply or require any propensity toward long-term inflationary or deflationary monetary attributes.
+The **Burn-and-Mint Mechanism** burns a user’s XFT and mints an anonAsset of equal value. At any point, a user may also **Shift** from an anonAsset back into XFT, and the process reverses: the **Burn-and-Mint Mechanism** burns the anonAsset, and mints new XFT of equal value to the user’s designated ERC20 wallet address. Such a model enables users to mint, store, and exchange anonAssets free from collateral requirements and the margin calls and liquidations that come with them, making for a simplified and cost-efficient trading experience. It should be noted that although such a tokenomic model demands an elastic supply model for XFT, it does not imply or require any propensity toward long-term inflationary or deflationary monetary attributes.



 ## B. Market Making via LP Rewards

-As fully composable, standard ERC20 tokens, anonAssets can be Shifted through Offshift’s Shifting Circuit, and may be integrated into various Ethereum DeFi applications as well. To support demand for anonAssets in public markets, Offshift Core will deploy XFT from the Offshift Ecosystem's Staking Rewards Wallet to incentivize anonAsset LPs and ensure adequate liquidity levels in anonAsset markets. Quantitative metrics will be announced at the proper juncture.
+As fully composable, standard ERC20 tokens, anonAssets can be Shifted through Offshift’s Shifting Circuit, and may be integrated into various Ethereum DeFi applications as well. To support demand for anonAssets in public markets, Offshift Core will deploy XFT to incentivize anonAsset LPs and ensure adequate liquidity levels in anonAsset markets. Quantitative metrics will be announced at the proper juncture.