What's #TVO?
Offshift Momiji launched 2 weeks ago, and it's different than the #DeFi protocols you're used to.
In fact, a few years ago we coined the term #PriFi to better describe it.
Momiji allows users to ๐๐ฉ๐ช๐ง๐ต $XFT into completely private #zkAssets on #ETH L1 ๐งต
While most #DeFi protocols & dApps use #TVL to measure use, that metric doesn't really suit what Offshift does.
So we created a new metric, "Total Value Obfuscated," or #TVO, to measure protocol use.
#TVO is the total real-time value of user assets made private through Momiji.
These private assets aren't locked - their owners are in complete control of them - they're just invisible ๐ฅท
It's easy to know the #TVO now, as $zkXFT is the only available #zkAsset, but you can expect new metrics to gauge protocol use once $zkBTC, $zkETH & $zkUSD are live ๐
You can view Offshift Momiji's #TVO on our Analytics page, along with a lot of other metrics that show protocol use and ecosystem health in real time.
Check it out ๐
https://t.co/BgvfxNNGJ9
Offshift #Momiji has been live for < 48h๐
๐Some stats:
- 10 batches published
- 50k+ $XFT burned
- 50k+ $zkXFT created
What's $zkXFT?
> A completely private version of $XFT on Ethereum L1
๐ What's next?
> Completely private $zkXFT transfers between #ETH wallets
Join us๐
https://t.co/GS5ySo6cLG
Four years to the day after the Offshift project was launched, with our core principles of privacy, decentralization and censorship resistance still intact -
We present Offshift Momiji.
Confidential assets on Ethereum L1 are now live.
https://t.co/su6aYmvft1
Nearly 4 years in the making, Phase 1 of the Offshift Momiji rollout is now complete, with the core protocol live on Ethereum Mainnet.
In addition, the first ever PureL1Rollup batch has been proven and published - in which a wallet with no ETH submitted an $XFT deposit to a batch which was rolled up by an anonymous prover and published by a brand new wallet with no ETH ๐
https://t.co/G6sJ3bjV0R