In its public sale, Panther Protocol, an end-to-end privacy solution for DeFi and Web3, raised over 22 million in its first 90 minutes. Panther has amassed a total of $32 million in assets. The public sale is a step for the firm to extend its involvement in an end-to-end privacy protocol for DeFi and Web3 users. It will also open its doors to broader community engagement.
Panther Protocol
Panther is an end-to-end privacy mechanism for digital assets with a private implementation on any public blockchain. It allows you to create interoperable and zero-knowledge assets (zAssets). The original counterparts of zAssets collateralize them at 1:1.
The Panther vaults store the crypto assets, and the exchange issues the zAssets. The new zAsset is a private, collateralized synthetic of the underlying asset, whether it is a zUSDC, zETH, or zBTC.
Panther Protocol Key Features
· Every digital asset needs privacy. Layer 1, or type of asset, will not constrain Panther. Its privacy characteristics extend to any digital asset on any public layer 1 network (we call them peer chains). Panther wants zAssets to follow DeFi wherever it goes.
· Because it is doubtful that one chain will be able to dominate them all, the need for cross-chain transactions will always be there. To help with these cross-chain transactions, Panther will provide a private interchain DEX module.
· Panther allows users to choose the amount of privacy they desire at the transaction level. One of their methods is the ability to disclose any of their transactions to fulfil the needs of the counterparty.
· To conceal the relationship between the input and output of a transaction, mixing services necessitates a vast number of inputs. Panther will guarantee a certain level of secrecy satisfaction before allowing transactions involving a certain zAsset to proceed. Tokenomics would improve liquidity availability to secure a big enough pool of assets to offer users a robust privacy barrier.
· Even though privacy has a cost for the user, most privacy protocols do not price it. Panther will charge for privacy through dynamic transaction fees paid in ZKP. In other words, the more privacy people have, the less it will cost, resulting in huge effects on on-chain privacy.
Panther Protocol as well as DeFi
Panther has proved its commitment to DeFi expansion by investing $500 million. In essence, Panther is valuable to DeFi customers who want to enjoy secure cryptocurrency transactions and personal financial data security. Additionally, Panther Protocol CEO and co-founder Oliver Gale expressed his delight over investors’ confidence in their project-
“This raise as part of our public sale demonstrates a huge demand for an interoperable, compliance-compatible privacy protocol. We are grateful for this overwhelming interest in our project and are confident that this signals the importance of Panther’s mission — enhancing freedom and privacy for DeFi and Web3.”
Panther is currently based on Ethereum, Polygon, NEAR, Elrond, Flare, and Songbird. Panther will enable developers to include privacy features in their apps. It will not need a technical staff of cryptographers and privacy tech experts. It will allow the development of a robust set of APIs, SDKs, and bespoke integrations.
The Panther Protocol claims to build a decentralised environment that releases value that is currently locked up across blockchains. Panther has grown since its start, with over 33 teams of expertise spanning from cybersecurity leaders to blockchain engineers. Also, their team’s expertise in game theory, DeFi, cryptography, ecosystem development, technology commercialization, and marketing is going to grow in the coming months.
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