Panther and Polygon are Taking Privacy to New Heights in DeFi

Disclaimer: The textual content beneath is a press launch that was not written by Cryptonews.com.

Midtown, Gibraltar, twenty first September, 2021,

Panther Protocol creates personal scalable infrastructure for sensible contract platforms, DeFi and Web3, and is delighted to announce a strategic partnership with Polygon, the Layer-2 scaling answer usually referred to as “the Ethereum’s Internet of Blockchains.”

Panther Protocol, who’s constructing their MVP on Polygon, goals to carry interoperable privateness and compliance pleasant selective disclosure mechanisms to the Polygon community. Besides offering technical assist, Polygon will assist Panther collaborate with tasks inside its ecosystem in the event efforts of privateness options that empower finish customers. It can even assist our mission in giving establishments and fintechs a transparent path into personal and compliant DeFi. 

Polygon and Panther each acknowledge the worth of privateness as a primary human proper. Panther leverages the zkSNARK know-how to let customers mint fully-collateralized, privateness enhancing zero-knowledge property (zAssets) by depositing their digital property from any blockchain into Panther vaults. They can then use zAssets throughout the DeFi ecosystem. 

The MVP will permit the primary Panther customers to get acquainted with zAssets, which offer privateness by default while retaining DeFi composability. Minting zAssets can successfully be seen as a shielding mechanism, and burning as unshielding. It shall be applied by way of a small variety of shielded privateness swimming pools on Polygon, maintaining balances of zAssets completely backed 1:1 by native collateral in Panther vaults. 

Expect to see in the Panther MVP:

  • Shielding and Deshielding of property – the muse for zAssets to perform
  • Private switch of property
  • Voluntary Full disclosure of chosen transactions and their linkage
  • Ability to work together with Panther by way of internet pockets
  • Panther Vaults

Why launch the MVP on Polygon?

Panther determined to launch our MVP on Polygon (previously referred to as Matic) whereas the $ZKP token shall be launched on Ethereum and use Polygon’s interoperable capabilities to bridge tokens over. The mission selected Polygon as a result of it has demonstrated its unimaginable technical capabilities, it has very low charges, which can permit the correct shielding of zAssets, and in fact, due to its thriving and quickly increasing DeFi ecosystem. 

Polygon’s strategy brings scalable, low value transactions to the Ethereum community in addition to a burgeoning ecosystem of DeFi protocols already utilizing their know-how. Panther’s partnership will allow zAsset utility between all Panther customers in a privateness preserving, scalable and regulatory suitable trend – opening the doorways for true institutional adoption and retail utilization,” stated Panther Protocol CEO Oliver Gale.

About Polygon

Polygon is a protocol and a framework for constructing and connecting Ethereum-compatible blockchain networks. Polygon aggregates scalable options on Ethereum, supporting a multi-chain Ethereum ecosystem and combines the very best of Ethereum and sovereign blockchains right into a full-fledged multi-chain system. Polygon solves ache factors related to Blockchains, like excessive fuel charges and sluggish speeds, with out sacrificing on safety.

About Panther Protocol

Panther is an end-to-end privateness protocol connecting blockchains to restore privateness in Web3 and DeFi whereas offering monetary establishments a transparent path to compliantly take part in digital asset markets. 

Panther supplies DeFi customers with absolutely collateralized privacy-enhancing digital property, leveraging crypto-economic incentives and zkSNARKs know-how. Users can mint zero-knowledge zAssets by depositing digital property from any blockchain into Panther vaults. zAssets circulation throughout blockchains by way of a privateness first interchain DEX and a non-public metastrate. Panther envisions that zAssets will turn into an ever-expanding asset class for customers who need their transactions and methods the best way they need to at all times have been: personal.

Want to study extra about Panther?

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About the Author: Daniel