Panther Protocol, a complete privacy solution that enables improved privacy for the DeFi and Web 3.0 economy across public blockchain or distributed ledger tech (DLT) networks, has acquired over $22 million as part of their Public Sale. This recent raise brings the total amount secured by the firm to a sizable $32 million.
Oliver Gale, CEO and Co-founder at Panther Protocol, said that this fundraising event, as part of their public sale, demonstrates a significant demand for an interoperable, compliance compatible privacy protocol for DeFi.
Gale added that they are grateful for this solid interest in their initiative and are confident that this confirms the importance of Panther's mission and goal - which aims to enhance freedom and privacy for DeFi and the Web 3.0 economy. Via the Public Sale, the firm is providing the opportunity for increased community engagement and participation in an end-to-end privacy protocol for DeFi, Gale added.
The DeFi market has experienced tremendous growth with Panther showcasing more than $500M worth of interest. Panther is of relevance to nearly all DeFi users interested in benefiting from personal financial data protection and confidential virtual currency transfers.
At present, Panther is developing on Ethereum, Polygon, Flare, Songbird, NEAR and Elrond. In addition to creating a set of APIs, SDKs and seamless integrations, Panther will enable app developers to offer privacy-enhancing features within their apps without requiring a dedicated team of cryptography experts and privacy tech professionals to get the job done. The idea or main goal is to establish a private-by-default, decentralized solution that taps into the value that is siloed between blockchain or DLT platforms.
Panther Protocol co-founder Anish Mohammed noted that as with duality of light, privacy also tends to have a dual nature. According to Anish, we are currently in the history of privacy where we are reconciling, privacy’s dual nature. Panther protocol has been able to enable privacy and authenticity, by leveraging zero knowledge proof systems as well as selective disclosures.
Since the platform introduced its services, they have been expanding their team of workers, now consisting of more than 33 workers focused on cybersecurity, cryptography, blockchain/DLT engineering, game theory, DeFi, ecosystem development, tech commercialization.
As noted in the announcement, Panther Protocol is an end-to-end privacy protocol developed specifically for the nascent DeFi sector. As explained in the update, Panther offers DeFi users with completely collateralized privacy-preserving crypto-assets, effectively utilizing crypto-economic incentives and innovative zkSNARK tech.
Platform users are able to issue zero-knowledge zAssets by depositing crypto-assets from any blockchain or DLT network into Panther vaults. As noted in the update, zAssets could potentially become an ever-growing asset class for users who would like their transactions and strategies the way they should always have been: private. More information on tokenomics, exchange volumes and release schedule may be reviewed via this link.