The decentralized finance industry has noted substantial initial success, but there is still room for improvement. The Panther Protocol acknowledges the growing demand for privacy-oriented solutions in this area. By securing $ 8 million in private funding, the team can bring interoperable privacy for DeFi users worldwide.
Enhancing Zero-Knowledge Proof with Panther Protocol
Anyone who has been keeping an eye on the cryptocurrency industry and its privacy-oriented discussions will have encountered the term zero-knowledge proofs. It is a cryptographic way of introducing privacy at the protocol level, yet very few projects embrace it. The Panther protocol is taking zero-knowledge proof to the next level by creating zero-knowledge disclosure. Choosing this method allows protocol users to benefit from privacy while being compliant without having to provide the underlying information.
As an interoperable privacy protocol for the DeFi industry, panther protocol Users and institutional players have to cater. Users are usually subject to surveillance and espionage due to the transparent nature of public blockchains. The demand for transactional confidentiality is substantial, as everyone can protect their competitive advantage by preventing trading strategies from moving forward.
Making all of this functionality accessible is through the casting of private collateral assets. Referred to as zAssets, they are a digital private synthetic representation of any other digital asset. Due to the interoperable nature of the protocol, one can convert bitcoin, ether, or even US dollars into a private synthetic asset and benefit from both privacy and compliance. All zAssets can be routed through the Panther network for use throughout the Defy industry.
Raises $8 million in private round
In the current DIFI scenario, there is no feasible way to achieve privacy and interoperability at the protocol level. Although there is some small competition in space, the Panther protocol appears to be on a very different level altogether. The project has attracted a lot of attention from the Vice Chancellors and other participants, resulting in $ 8 million raised through several private tours.
Oliver Gale, CEO and co-founder of Panther Protocol, says:
“We believe that zAssets will become a constantly expanding asset class for users who want their transactions and strategies as they always are: private. Stable coins, utility tokens and NXT will all be affected by privacy. Institutional. DeFi and Web3 require privacy to enhance and disrupt legacy systems. Our entire team is thrilled with the overwhelmingly positive response to our value proposition. These successful rounds of fundraising allow us to see Rockstar’s growing interest in cryptography, technology and products. Allow the team to expand.
Notable investors include Rarestone Capital, Moonwhale, Cosmos VC, Arcanum Capital, CSP DAO Network, MarketAcross, Bastu among others. More than 140 participants wanted to invest early in this protocol to nurture its development and potential. Panther Protocol will hold a public sale in the third quarter of 2021, with more details to be announced via the team’s official social media channels. A strong balance between confidentiality and compliance will be required to advance the DIFI industry, and the Panther Protocol provides that option.