The privacy proposition in the world of DeFi is heating up, as Gibraltar-based Panther Protocol has raised $8 million in a private sale that saw over 140 investors jump on board.
Much like we reported about Sienna Network a few weeks back, Panther’s offer is to keep things on the down-low and avoid the not cool tactic of front running. As a reminder, due to the transparency present in public blockchains, normally a good thing, Decentralised Finance users can be watched, and ultimately have competitors reverse engineer their strategies and competitive advantages. Once done, front-running a trade isn’t exactly rocket science.
Panther Protocol’s solution is to provide users with the ability to mint private assets, which they refer to as zAssets. Digital assets are then deposited into a vault and receive zAssets in their Panther wallet. These zAssets may then be routed through the Panter network and used in any DeFi transaction.
Panther is also targeting one of the biggest hurdles to institutional investments in DeFi, namely compliance. The platform reports that they will offer various levels of disclosure, one being of the Zero-knowledge variant. This allows users to prove compliance, but without giving away the secret sauce, i.e. sender, receiver, amounts, and metadata.
“We believe zAssets will become an ever-expanding asset class for users who want their transactions and strategies the way they should always have been: private. Stablecoins, utility tokens and NFTs will all become infused with privacy. Institutional DeFi and Web3 require privacy to scale and disrupt legacy systems,” comments CEO and co-founder Oliver Gale.
Named investors of the platform include: Rarestone Capital, Master Ventures, DeepVentures, Moonwhale, Alphabit Fund, Ex Network, MarketAcross, Nextgen, Protocol Ventures, Titans Ventures, Insignious Capital, Kosmos VC, Ellipti, BlockArk, A195 Capital, Aquablock, AU21, Arcanum Capital, LunarStation, DutchCryptoInvestors, EscolaCripto, GenBlock Capital, Defiants, Netzero, Black Dragon, CSP, DAO Network, Berezka DAO, Skynet and BaseTwo.