Midtown, Gibraltar, September 21, 2021 – Panther Protocol Creates Private Scalable Infrastructure for Smart Contract Platforms, Decentralized Finance and Web 3.0, and is delighted to announce a strategic partnership with Polygon, the often Layer Two scaling solution referred to as the “Internet of Ethereum Blockchains”.
Panther Protocol builds its minimum viable product on Polygon and also aims to provide the Polygon network with interoperable and compliance-friendly selective disclosure mechanisms. In addition to providing technical support, Polygon will help Panther collaborate with projects within its ecosystem in efforts to develop privacy features that empower end users. It will also help our mission to give institutions and fintechs a clear path to private and compliant DeFi.
Polygon and Panther both recognize the value of privacy as a basic human right. Panther takes advantage of zk-SNARK technology to enable users to create fully secured, privacy enhancing zero-knowledge assets (zAssets) by depositing their digital assets from any blockchain into Panther vaults. They can then use zAssets in the DeFi ecosystem.
The MVP will allow early Panther users to familiarize themselves with zAssets, which provides privacy by default while retaining DeFi composability. The strike of zAssets can effectively be viewed as an armor mechanism and the etch as a non-armor. It will be implemented through a small number of protected privacy pools on Polygon, keeping zAssets balances sustained at all times at a one-to-one ratio through native guarantees in Panther vaults.
Expect to see in the Panther MVP:
- Shielding and de-shielding assets – the basis of how zAssets works.
- Private transfer of assets.
- Voluntary full disclosure of selected transactions and their link.
- Ability to interact with Panther through a web wallet.
- Panther vaults.
Why launch the MVP on Polygon?
Panther has decided to launch our MVP on Polygon (formerly known as Matic) while the Panther Protocol (ZKP) token will be launched on Ethereum and will use Polygon’s interoperable capabilities to link tokens. The project chose Polygon because it demonstrated its incredible technical capabilities and very low costs, which will allow zAssets to be properly shielded, as well as, of course, its thriving and expanding DeFi ecosystem.
Oliver Gale, CEO of Panther Protocol, said:
“Polygon’s approach brings low-cost, scalable transactions to the Ethereum network as well as a growing ecosystem of DeFi protocols already using their technology. Panther’s partnership will enable zAsset to be used among all Panther users in a privacy-friendly, scalable, and regulatory-compliant manner, opening the door to true institutional adoption and retail use.
About the polygon
Polygon is a protocol and framework for creating and connecting blockchain networks compatible with Ethereum. Polygon brings together scalable solutions on Ethereum, supporting a multi-chain Ethereum ecosystem and combines the best of Ethereum and sovereign blockchains into a full-fledged multi-chain system. Polygon solves problems associated with blockchains such as high gas costs and slow speeds, without sacrificing security.
About the Panther protocol
Panther is an end-to-end privacy protocol connecting blockchains to restore privacy in Web 3.0 and DeFi while providing a clear path for financial institutions to participate compliantly in digital asset markets.
Panther provides DeFi users with fully secured digital assets enhancing privacy, leveraging crypto-economic incentives and zk-SNARKs technology. Users can create zero-knowledge zAssets by depositing digital assets from any blockchain into Panther vaults and zAssets flow through blockchains via a decentralized, privacy-focused inter-chain exchange and private metastrata. Panther envisions that zAssets will become an ever-expanding asset class for users who want their transactions and strategies to be as they always should have been: private.
Want to learn more about Panther? Check out the website.
Stay Connected with Panther: Telegram | Twitter | Average | LinkedIn | Website
This is a paid press release Cointelegraph does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other elements of this page. Readers should do their own research before taking any business related action. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in the press release.