Highlighting the growing demand for security solutions in the DeFi industry – Panther Protocol, an interoperable, fully collateralized privacy-enhancing solution for DeFi – has completed a private sale worth $8 million. More than 140 investors participated in the sale.
Ensuring Transactional Privacy and Protecting the Alpha: Panther Protocol Solutions
Public blockchains, intrinsically, are immutable and transparent. Inadvertently, these features subject DeFi users to surveillance and economic espionage. Both retail and large institutional investors seek avenues that negate this anomaly and ensure transactional privacy. Otherwise, they fall prey to their competitors’ reverse engineering and front running their strategies. Eventually, it results in traders quickly losing their alpha, the degree to which a trader has managed to ‘beat’ the market over a while.
Panther offers a solution to this problem. Leveraging the protocol, users can mint Zero-knowledge zAssets by depositing digital assets from any blockchain into Panther vaults. zAssets can be fully collateralized private synthetics of any digital asset, like zBTC, zETH, and zUSD. Panther utilizes the zkSNARK technology and offers a novel price discovery mechanism to offer this provision.
The larger vision of Panther is to restore the right to privacy and offer protection against a surveillance economy. To achieve its goal, Panther equips its users with transactional privacy when interacting with all of DeFi, without compromising on their competitive advantages and individual freedoms.
Once users have managed to create zAssets, they can confidentially route them through the Panther network for use across all of DeFi.
According to Oliver Gates, the CEO, and co-founder of the protocol, “zAssets will become an ever-expanding asset class for users who want their transactions and strategies the way they should always 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 an experienced professional in cryptography and zero-knowledge proofs. He has served as the protocol architect of various notable projects and an early advisor to Ripple. He was also one of the reviewers 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, NFTs – all asset classes will explore and infuse them in their operational structure.
Selective Privacy Disclosures: Panther Protocol’s Game-Changing Feature
Adding more to what Panther already has to offer, in terms of helping to create zAssets, the protocol will also solve the privacy and compliance dilemma through selective private disclosures. Users can either choose to go fully private or may select from the different levels of disclosures available. The zero-knowledge disclosure, for instance, empowers users to prove compliance without providing any underlying data.
Privacy is something that has often dissuaded institutional players from coming into DeFi. Panther believes its selective privacy disclosure mechanisms will help in that regard. More and more institutional traders and investors will find it comfortable with DeFi when they would be freed from the compulsions of disclosing the sender, receiver, amounts, metadata, or anything about the transaction.
Looking at the potential that Panther carries within, more than 140 venture capitalists and ecosystem participants have expressed their interest to become a part of it by investing. These investors are spread all 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.
Reacting to the success of the private sale, Oliver Gale said, “these successful fundraising rounds allow us to expand a growing team of rockstars in cryptography, technology, and product.”
Panther has decided to follow up the success of the private sale with a public sale in Q3. It will announce those details via the protocol’s official social channels.