Panther Protocol Raises $8 Million To Bring Interoperable Privacy to DeFi
June 1, 2021 – Midtown, Gibraltar
Panther Protocol is proud to announce the successful completion of its private sale to the tune of $8 million from over 140 investors. This emphasizes the need for privacy solutions in the DeFi industry.
Panther Protocol is an interoperable privacy solution focused on the needs of decentralized finance traders and investors. Due to the immutable and transparent nature of public blockchains, DeFi users are subject to surveillance and economic espionage. Transactional privacy is in high demand, as it allows retail, whales and institutional users to protect their competitive advantages by not allowing adversaries to reverse engineer and front-run their strategies. Traders lose their alpha very quickly in DeFi, and one of Panther’s strongest value propositions is to help traders protect that alpha.
Panther Protocol allows users to mint fully collateralized private assets called zAssets, private synthetics of any digital assetthink zBTC, zETH and zUSD. Users deposit their digital assets in a vault and receive zAssets in their Panther wallet. Such zAssets can be confidentially routed through the Panther network for use across all of DeFi.
A promising feature of Panther is selective private disclosures, which could be a game changer that solves the privacy and compliance dilemma. In addition to giving the users the ability to go fully private, there will be different levels of disclosures available.
One of them, called ‘zero-knowledge disclosures,’ allows users to prove compliance without providing any underlying data, taking advantage of zero-knowledge proof technology and trust providersa novel decentralized architecture for privacy and trust. This lays the groundwork for institutional players to come into DeFi without having to worry about privacy and compliance two bottlenecks that stunt institutional exposure to decentralized finance ithout having to disclose anything about the transaction itself (sender, receiver, amounts, metadata, etc.) all of that remains private.
Oliver Gale, CEO and co-founder of Panther Protocol, said,
“We believe zAssets will become an ever-expanding asset class for users who want their transactions and strategies the way they should always have beenprivate. Stablecoins, utility tokens and NFTs will all become infused with privacy. Institutional DeFi and Web3 require privacy to scale and disrupt legacy systems. Our entire team is thrilled with the overwhelmingly positive response to our value proposition. These successful fundraising rounds allow us to expand a growing team of rockstars in cryptography, technology and product.”
There were more than 140 VCs and ecosystem participants involved in the private rounds, a number that speaks to the breadth of interest in DeFi privacy. Some of the early contributors included firms from around the world.
- Rarestone Capital
- Master Ventures
- Alphabit Fund
- Ex Network
- Protocol Ventures
- Titans Ventures
- Insignious Capital
- Kosmos VC
- A195 Capital
- Arcanum Capital
- GenBlock Capital
- Black Dragon
- CSP DAO Network
- Berezka DAO
Following these successful private rounds, Panther Protocol will offer a public sale in Q3. More details regarding the public sale will be announced via the official social channels.
About Panther Protocol
Panther Protocol is an end-to-end privacy protocol focused on DeFi. Panther provides DeFi users with fully collateralized, private digital assets (zAssets), leveraging zkSNARKs technology and game theoretic incentives that enable privacy as a service in a compliance-friendly manner. Users are able to mint zero-knowledge zAssets by depositing digital assets from any blockchain into Panther vaults and can use their zAssets across all of DeFi.
Its founders are Oliver Gale, serial entrepreneur and CBDC pioneer, and Dr. Anish Mohammed, cryptographer and zero-knowledge proof guru, protocol architect of various notable projects, early advisor to Ripple and one of the reviewers of the Ethereum orange paper.
For more information about Panther, please visit here.
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