Yeah I read a bit further and realized it's tied to Ethereum. But there seems to be an on-chain and off-chain design that I don't get.

Either way I'm staying away from anything that's tied to a crypto coin. I know Ethereum is also contracts, but I just feel that crypto is tainted with scams. If a technology wants to use a block chain, fine, but why tie it to a monetary value? That's when you start stepping over the line of tech and into people's life savings.