November 18, 2021 – Midtown, Gibraltar
Today, Panther Protocol announced that its partnership with Flare will be extended to Flare’s canary network, Songbird. Flare is the world’s first Turing-complete FBA (Byzantine Federated Agreement) network, and Panther is building the DeFi and Web 3.0 interoperable privacy layer, with the goal of making privacy a standardnot an afterthought.
Flare began its mission to “unlock the value” inherent in the 65% of blockchains that do not have native smart contracts by bringing for the first time true trustless use of these tokens with scalable smart contracts and by integrating the machine. virtual Ethereum in a scalable way.
Blockchain interoperability is undoubtedly a marked trend in our industry, and Flare takes a unique approach by incorporating larger blockchains that require smart contract and interoperability capabilities.
Flare and Songbird started this mission with XRP, Doge, Litecoin, Stellar and Algorand. Both parties said they aim to bring new privacy capabilities and features to these projects with this collaboration.
About the partnership
The Flare and Panther teams shared their excitement about the many areas of opportunity between Panther and Songbird. For this reason, in addition to defining several ways for Flare’s Songbird users to benefit from the privacy features and Panther’s to receive support from both the Flare mainnet and its canary network.
The partnership can propel Panther to its milestones. The partnership agreement also serves to support the development of other privacy projects and features by Panther on Songbird.
Build a privacy ecosystem
Songbird will integrate Panther’s “protected pools” into its Ethereum Virtual Machine (EVM) to allow on-chain privacy for its users. Panther will deploy its privacy preservation infrastructure on Songbird for code testing.
As a result of these efforts, Panther users will be able to benefit from private transactions through Songbird. This is expected to increase the user base and TVL potential of Panther’s screened pools.
Songbird users will be included in Panther staking and governance. They will also be able to benefit from private DeFi within the network, access selective disclosures for both retail users and institutions, and gain early access to Panther’s KYC / AML zero-knowledge solution on the side. Institutional Songbird.
As the deal finalized, Oliver Gale, co-founder and CEO of Panther Protocol, said:
“From day one, there was a clear alignment between the founders of Panther and Flare Network around the need for privacy, compliance, security and scalability in blockchain ecosystems and especially those related to institutional DeFi. In Flare and Songbird, we see great ecosystem partners, innovative technology, and clear action-oriented plans for mass adoption. “
Hugo Philion, co-founder and CEO of Flare and Songbird, said:
“Songbird was launched to be a test bed for Flare and the most revolutionary decentralized technologies. So we’re excited that Panther is leveraging its zkSNARK cryptography and cutting edge asset mixing technologies to deliver the KYC and AML compatible privacy solutions that DeFi needs to take a giant leap forward. Stable coins, utility tokens, and NFTs can now be held and traded confidentially while remaining compliant, returning sovereignty to the user.
Songbird is Flare’s canary network, which is an operational blockchain with a defined token supply, similar to Polkadot’s Kusama network. DApp innovations and new launches will happen first on Songbird and can then be deployed on Flare after testing.
This means that Songbird will often have more advanced features than Flare. After the launch of Flare, Songbird is intended to be a long-term network to test governance changes to Flare, but can follow its own path defined by its own token-mediated governance.
Songbird has shown phenomenal growthonly eight weeks old, it has already processed more than 2.3 million blocks and registered more than 222,000 addresses.
Website | Twitter
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 financial institutions with a clear path to competently participate in digital asset markets.
Panther provides DeFi users with fully secured digital assets enhancing privacy, leveraging crypto-economic incentives and zkSNARKs technology. Users can create zero-knowledge zAssets by depositing digital assets from any blockchain into Panther vaults.
ZAssets flow through blockchains via a privacy-focused cross-chain DEX and private metastrate. Panther envisions zAssets to become an ever-expanding asset class for users who want their trades and strategies to be as they always should have beenprivate.
Website | Explanatory video
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