Panther Protocol, a privacy protocol that connects blockchains to ensure privacy in smart contracts, Web3 and Defi has announced a partnership with Polygon (MATIC) on which it would be building its MVP.
Panther is a decentralized privacy meta-protocol enabling confidential, trusted transactions and interoperability with DeFi.
Panther is an end-to-end privacy protocol for digital assets, which can be deployed in a compliant way on any public blockchain.
The protocol aims to bring interoperable privacy and compliance-friendly selective disclosure methods onto Polygon. On the other hand, Polygon would be actively hand-holding the development of the MVP, provide client and technical support and also help Panther to work with applications and projects on the Polygon network and help in the transition towards a private and compliant DeFi ecosystem.
Privacy for any digital asset. Panther is not going to be limited by layer 1 or type of asset. Panthers’ privacy features can expand to any digital asset on any public layer 1 (they call them to peer coins). They want zAsset to go wherever DeFi goes.
Interoperability. It’s unlikely that one chain will rule them all, so there will always be a need for cross-chain transactions. Panther will provide a private interchain DEX module to enable these cross-chain transactions.
Confidentiality. Panther provides users with the ability to select the level of privacy they want at the transaction level. One of our most interesting approaches is to enable selective disclosure of any of their transactions to meet the requirements of the counterparty or regulator.
Strong privacy threshold. Mixing services require a large set of inputs to effectively obfuscate the link between the input and output of a transaction. Panther will ensure that a certain privacy threshold is met to allow transactions of a particular zAsset to go through. The tokenomics will incentivize liquidity provision for mixing to ensure there is a large enough pool of assets to provide a strong privacy threshold for users.
Price discovery for privacy. In most privacy protocols, privacy is not explicitly priced, even if it bears a cost for the user. With Panther, privacy will be priced explicitly through dynamic transaction fees and paid in ZKP rather than as a fee applied to the transacted digital assets. They will write more about this novel pricing mechanism in future articles. In short, the more privacy is provided to users, the cheaper it will become to enjoy privacy, resulting in powerful network effects for on-chain privacy
The Panther Token ($ZKP) is a finite supply privacy-preserving governance token that represents a right to vote on governance proposals on the Panther Protocol. It is designed to support the function of the protocol and provide incentives for its maintenance.
PERIOD ISN’T SET
$ZKP could be bought on Uniswap.
In the next phases, they will continue our journey to fulfill their vision. Panther Protocol will be developed to enhance the level of decentralization, and to become an industry-leading Layer 1 inter-chain DEX with privacy features
This week they announced the end of their private funding rounds having raised $8 million to work on bringing privacy in the Decentralised Finance world. More than 140 individuals and VCs have joined the Panthers’ mission.
The Panther Foundation, later the Panther DAO, will provide development grants to incentivize development teams to participate in and develop the Panther Protocol. The goal of Panther Protocol is to ensure collaboration, exchange of ideas, and foster the growth of the developer community around the project. The project will have a developer-friendly and fully documented open interface, making it easy to integrate projects and teams.
Though the ZKP token of Panther would be launched only on Polygon and the tokens would then be bridged over through the interoperable capabilities of Polygon, the company would be building the MVP only on Polygon due to its high technical capabilities, very low gas fees, and also due to the thriving dApp ecosystem within the network. This is indeed a shot in the arm for Polygon which has always been viewed as a substitute for Ethereum but is slowly beginning to make a name for itself so much so that many developers and users are now beginning to choose Polygon over Ethereum for their transactions and project due to its low gas fees but also due to the reliability that the underlying Ethereum network offers.
Find more information about Panther:
Website: https://www.pantherprotocol.io/
Telegram: https://t.co/knM3UHUAN5?amp=1
Twitter: https://twitter.com/ZkPanther
Elise
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