Home Cryptocurrency Panther Protocol Raises $8 Million To Bring Interoperable Privacy To DeFi

Panther Protocol Raises $8 Million To Bring Interoperable Privacy To DeFi

by Serge Shlykov

DeFi is a term that describes a decentralized financial system that allows users to govern their money. In this system, a user doesn’t just control their own money, but also the money of others. A reliable DeFi infrastructure must, therefore, be able to ensure the privacy of all transactions, which is what the Panther Protocol will do.

Privacy and security are critical issues that are rapidly gaining more attention in the cryptocurrency ecosystem. In response to that, the developers of the decentralized privacy protocol, Panther Protocol, have announced a recent raise of $8 million to help enable the privacy-centric service on the Ethereum blockchain.

Midtown, Gibraltar, 1. June 2021, Panther Protocol is proud to announce a successful private sale that raised $8 million from over 140 investors. This underscores the need for data protection solutions in theFi industry. The Panther protocol is an interoperable data protection solution aimed at the needs of decentralized financial traders and investors. Due to the immutable and transparent nature of public blockchains, theFi users are exposed to surveillance and industrial espionage. Transaction protection is in high demand because it allows retailers, wholesalers and institutional users to protect their competitive advantage by preventing their strategies from being imitated by adversaries and staying one step ahead of them. Traders lose alpha very quickly in DeFi, and one of Panther’s strongest value propositions is to help traders protect that alpha. The Panther protocol allows users to mine fully secure private assets called zAssets, private synthetic digital assets – such as zBTC, zETH and zUSD. Users place their digital assets in the vault and receive zAssets in their Panther wallet. These zAssets can be routed confidentially over the Panther network for use in any DeFi. One promising feature of Panther is the selective disclosure of private information, which could be a game changer in the privacy and compliance dilemma. In addition to full private access for users, different levels of disclosure will be available. One of these, called Zero Knowledge Disclosure, allows users to demonstrate compliance without providing the underlying data. It uses Zero Knowledge Proof technology and Trust Providers, a new decentralized architecture for privacy and trust that allows institutional actors to enter DeFi without worrying about privacy and regulatory compliance, two bottlenecks that have hindered institutional engagement with decentralized systems. Oliver Gale, CEO and co-founder of Panther Protocol, explains: We believe zAssets will become a growing asset class for users who want to keep their trades and strategies what they were always intended for: private. Stablecoins, nutstokens and NFTs will be filled with privacy. DeFi and Web3 institutions need data protection to evolve and disrupt existing systems. Our entire team is delighted with the extremely positive response to our value proposition. These successful fundraisers allow us to expand our growing team of crypto, technology and product rock stars. More than 140 venture capitalists and ecosystem participants attended the closed rounds, demonstrating the broad interest in DeFi privacy. Companies from around the world, including Rarestone Capital, Master Ventures, DeepVentures, Moonwhale, Alphabit Fund, Ex Network, MarketAcross, Nextgen, Protocol Ventures, Titans Ventures, Insignious Capital, Kosmos VC, Ellipti, BlockArk, A195 Capital, Aquablock, AU21, Arcanum Capital, LunarStation, DutchCryptoInvestors, EscolaCripto, GenBlock Capital, Defiants, Netzero, Black Dragon, CSP DAO Network, Berezka DAO, Skynet, and BaseTwo were among the first participants. After these successful private rounds, Panther Protocol will hold a public sale in the third quarter. More details about the public sale will be announced on the official social channels. About the PantherProtocol The Panther protocol is an end-to-end privacy protocol focused on DeFi. Panther offersFi users completely secure private digital assets (zAssets) by using zkSNARKs technology and game theory based incentives that provide privacy as a service in accordance with the law. Users can mine zAssets without any knowledge by depositing digital assets from any blockchain into Panther’s vaults, and can use their zAssets on any DeFi. The founders are Oliver Gale, serial entrepreneur and CBDC pioneer, and Dr. Anish Mohammed, cryptographer and zero-knowledge proof guru, protocol architect of several well-known projects, first advisor to Ripple and one of the reviewers of the Ethereum Orange Paper. For more information on Panther, visit https://pantherprotocol.io/. Follow our social media updates, https://twitter.com/ZkPanther, https://www.linkedin.com/company/zkpanther/

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