Highlighting the growing demand for security solutions in the DeFi industry – Panther Protocol, an interoperable, fully guaranteed privacy-enhancing solution for DeFi – closed a private sale worth $ 8 million. Over 140 investors participated in the sale.
Guarantee transaction confidentiality and protect alpha: Panther protocol solutions
Public blockchains, inherently, are immutable and transparent. These features inadvertently subject DeFi users to economic surveillance and espionage. Retail investors and large institutional investors are looking for solutions that reverse this anomaly and ensure the confidentiality of transactions. Otherwise, they fall prey to the reverse engineering of their competitors and their forward thinking strategies. Eventually, the result is that traders quickly lose their alpha, the degree to which a trader has managed to “beat” the market for a period of time.
Panther offers a solution to this problem. By leveraging the protocol, users can create zero-knowledge zAssets by depositing digital assets from any blockchain into Panther vaults. ZAssets can be fully collateralized private synthetics of any digital asset, such as zBTC, zETH, and zUSD. Panther uses zkSNARK technology and offers a new price discovery mechanism to provide this provision.
Panther’s larger vision is to restore the right to privacy and provide protection against a surveillance economy. To achieve its goal, Panther provides its users with transactional privacy when interacting with all of DeFi, without compromising their competitive advantages and individual freedoms.
Once users have successfully created zAssets, they can route them confidentially through the Panther network for use across DeFi.
According to Oliver Gates, CEO and co-founder of the protocol, âzAssets will become an ever-expanding asset class for users who want their transactions and strategies to be as they always should have been: private.
It would be relevant to note here that Panther was founded by Oliver Gale and Dr Anish Mohammed. While Gale is a serial entrepreneur, Mohammed is a seasoned crypto and zero-knowledge proofs professional. He was the protocol architect of various notable projects and one of Ripple’s first advisers. He was also one of the critics of the Ethereum Orange Paper.
Oliver believes that such privacy features are something that every asset class will have in them, in the days to come. Stablecoins, utility tokens, NFT – all asset classes will explore them and infuse them into their operational structure.
Selective Privacy Disclosures: The Game-Changing Feature of Panther Protocol
Add more to what Panther already has to offer, in terms of helping the creation of zAssets, the protocol will also solve the privacy and compliance dilemma through selective private disclosures. Users can either choose to go completely private or choose from the different levels of disclosure available. Zero knowledge disclosure, for example, allows users to prove compliance without providing underlying data.
Confidentiality is something that has often dissuaded institutional players from entering DeFi. Panther believes his selective privacy disclosure mechanisms will help in this regard. More and more merchants and institutional investors will find themselves comfortable with DeFi when they are released from the obligation to disclose the sender, recipient, amounts, metadata or anything related to the transaction.
Looking at Panther’s potential, over 140 venture capitalists and ecosystem participants have expressed an interest in being a part of it by investing. These investors are spread across the globe and include names like Rarestone Capital, Moonwhale, MarketAcross, Alphabit Fund, Titans Ventures, Insignious Capital, Kosmos VC, BlockArk, AU21, Arcanum Capital, LunarStation, GenBlock Capital, Defiants, Netzero, Black Dragon , CSP DAO Network, Berezka DAO, and more.
Responding to the success of the private sale, Oliver Gale said, “These successful fundraisers allow us to expand a growing team of rockstars in crypto, technology and commodities.”
Panther has decided to continue the success of the private sale with a public sale in the third quarter. He will announce these details through the protocol’s official social channels.