Panther Protocol, which focuses on privacy in smart contract platforms, has announced a new partnership with Polygon. The partnership will see the two join projects leveraging Polygon to develop privacy features that empower their end users.

Partnership

Polygon, the Layer-2 scaling solution on Ethereum, has announced a partnership with the Panther protocol. The partnership will focus on privacy in the world of decentralized finance, with both entities working on projects leveraging Polygon to develop privacy features that empower their end users.

Panther Protocol is an end-to-end privacy protocol connecting blockchains. It focuses on restoring the privacy of the Web3 and DeFi platforms while providing a clear path for institutions to competently participate in digital asset markets.

Panther builds its MVP on Polygon. However, it will launch its ZKP token on Ethereum and use Polygon’s interoperable capabilities to link the tokens together. In its press release, the project revealed that it chose Polygon because it demonstrated its incredible technical capabilities and low costs.

Oliver Gale, CEO of Panther Protocol, said, “Polygon’s approach brings scalable, low-cost 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.

The MVP on Polygon will benefit from features such as shielding and unshielding assets, private transfer of assets, the ability to interact with the protocol through the web wallet, Panther vaults and voluntary full disclosure of selected transactions and their link.

By partnering with Polygon, Panther will now be able to benefit from selective disclosure mechanisms that are interoperable and respectful of compliance with the Polygon network. Polygon will in turn provide technical support to the project and help it collaborate with other startups relying on its ecosystem.

Panther targets privacy in DeFi

Polygon and Panther both recognize the value of privacy as a basic human right. The latter uses zkSNARK technology to enable its users to create guaranteed zero-knowledge assets that enhance privacy, better known as zAssets. To do this, users need to deposit their digital assets from any blockchain into Panther vaults. Once they get the zAssets, they can use them in the DeFi ecosystem.

The MVP on Polygon will give users the opportunity to familiarize themselves with zAssets, “which offer privacy by default while retaining DeFi composability”.

“Mitting zAssets can effectively be thought of as an armor mechanism and etching as an armor. It will be implemented through a small number of protected privacy pools on Polygon, keeping zAssets balances continuously backed 1: 1 by native guarantees in Panther vaults, ”the project said in its press release.