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Panther Protocol has introduced a strategic partnership with the main Layer 2 scaling resolution Polygon.
Panther and Polygon Sort out Privateness
Panther Protocol, who’s constructing their MVP on Polygon, goals to deliver interoperable privateness and compliance pleasant disclosure mechanisms to the Polygon community. Moreover offering technical help, Polygon will assist Panther collaborate with tasks inside its ecosystem within the improvement efforts of privateness options that empower finish customers. It should additionally help our mission in giving establishments and fintechs a transparent path into non-public and compliant DeFi.
Polygon and Panther each acknowledge the worth of privateness as a primary human proper. Panther leverages the zkSNARK expertise to let customers mint fully-collateralized, privateness enhancing zero-knowledge property (zAssets) by depositing their digital property from any blockchain into vaults. They’ll then use zAssets throughout the DeFi ecosystem.
The MVP will enable the primary Panther customers to get acquainted with zAssets, which give privateness by default while retaining DeFi composability. Minting zAssets can successfully be seen as a shielding mechanism, and burning as unshielding. It is going to be applied through a small variety of shielded privateness swimming pools on Polygon, conserving balances of zAssets completely backed 1:1 by native collateral in Panther vaults.
Customers can look forward to finding a variety of options within the MVP, Together with:
- Shielding and Deshielding of property – the muse for zAssets to operate
- Non-public switch of property
- Voluntary Full disclosure of chosen transactions and their linkage
- Means to work together with Panther through net pockets
- Panther Vaults
The undertaking selected Polygon as a result of it has demonstrated unimaginable technical capabilities, it has very low charges, permitting for the correct shielding of zAssets, and naturally, due to its thriving and quickly increasing DeFi ecosystem. Whereas the $ZKP token can be launched on Ethereum, customers can make the most of Polygon’s interoperable capabilities to bridge tokens over.
Talking on the partnership, Panther Protocol CEO Oliver Gale stated:
“Polygon’s strategy brings scalable, low value transactions to the Ethereum community in addition to a burgeoning ecosystem of DeFi protocols already utilizing their expertise. 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,”
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 gasoline charges and gradual speeds, with out sacrificing on safety.
Panther is an end-to-end privateness protocol connecting blockchains to revive 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 totally collateralized privacy-enhancing digital property, leveraging crypto-economic incentives and zkSNARKs expertise. Customers can mint zero-knowledge zAssets by depositing digital property from any blockchain into Panther vaults. zAssets circulate throughout blockchains through a privateness first interchain DEX and a personal metastrate. The protocol envisions that zAssets will turn into an ever-expanding asset class for customers who need their transactions and methods the way in which they need to all the time have been: non-public.
For extra info on Panther check out the website.
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