Panther, a cross-chain application creating a privacy-preserving gateway to DeFi, just released the version 0.5 of its protocol. This development, led by the Panther DAO, is the last step before the full protocol goes live in 2023. Version 1 will enable ordinary individuals and enterprises to utilize DeFi anonymously while remaining compliant with applicable laws.
The deployment of Panther’s v0.5, led by the Panther Foundation, Panther Ventures Limited, and the Panther DAO, showcases the decentralization of a protocol that will enable DeFi protocols to communicate with one another in a private and interoperable manner. Panther’s v0.5 debuts a key functionality of the protocol, the ability to “shield” regular tokens, by minting private versions of them called zAssets. Panther users will be able to use zAssets to conduct safe and private transactions in decentralized finance across multiple blockchains.
Due to the BUSL license (the same used by Uniswap) used for Panther’s v0.5 deployment, users are permitted to create copies, modifications, derivative works, disseminate, and utilize the Licensed Work for purposes unrelated to production. The Licensed Work will eventually be available in an open-source form.
The development of the protocol’s smart contracts and front-end used for the protocol was led by Panther Ventures Limited and deployed by the Panther community.Partner Venture Limited is a for-profit organization in charge of developing Web3 technology and zero-knowledge components that centerpiece to Panther. The Panther DAO voted on the terms for the release, rewards, and creation of v0.5.Additionally, the Panther Foundation backs Panther’s efforts to protect user data and contributes to expanding the ecosystem that supports the platform.
An Important Milestone Solving DeFi’s Greatest Problem
Panther’s decentralization is enforced by users of its Snapshot.org space. Within it, $ZKP holders cast their votes to accept or reject proposals based on pre-agreed criteria. The terms for proposals are discussed in Panther’s online forums. This process was key to v0.5’s recent release.
Panther v0.5 will provide the Panther contributor community with the opportunity to test out the fundamental technologies utilized by the protocol in a real-world setting. As such, v0.5 users will be able to mint “shielded” assets and earn rewards through Privacy Rewards Points (PRPs) and shielded $ZKP tokens ($zZKP, as zAssets). This development will later serve to enable the Panther Protocol’s ability to reward users for providing assets to Multi-Asset Shielded Pools, protecting their privacy while deploying assets to DeFi protocols.
Panther is tackling one of the most critical challenges now facing DeFi: properly and lawfully incorporating traditional financial institutions, legacy players, and FinTechs into the Web3 financial paradigm. It does so by creating a compliance-friendly path for users to access DeFi without being surveilled, copied, or arbitraged. Additionally, it assists crypto users in protecting the privacy of their personal financial information and trading strategies.
Visit the project’s website and go through its documentation to access Panther version 0.5 and to learn more about Panther’s technical aspects. In contrast, a comprehensive product overview may be found on Panther’s blog.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
