Panther Protocol is pleased to announce its new funding raised from over 140 investors. The Gibraltar-based protocol has successfully raised $8 million during its private sale funding round.
The funding saw many investors participate in the financing round. These included DeepVentures, Defiants, Ellipti, Alphabit Fund, Arcanum Capital, Black Dragon, BlockArk, Kosmos VC, Rarestone Capital, A195 Capital, Aquablock, AU21, Moonwhale, Protocol Ventures, and Titans Ventures.
Partner Protocol is an interoperable private solution that seeks to help traders and investors within the decentralized finance (DeFi). The protocol was created to provide privacy for the blockchain community exposed by the technology. Blockchain’s nature, immutable and transparent, has subjected many in the DeFi ecosystem to surveillance and economic espionage. The funds will reportedly be used to develop the protocol, which is interoperable with a range of DeFi applications.
Privacy remains an important topic of discussion among retail traders’, whales, and institutional users who seek to protect their competitive advantages by not allowing adversaries to reverse engineer and front-run their strategies. Notably, Panther also seeks to protect trader’s alpha which is easily lost when trading in DeFi markets.
The Panther Protocol allows users to mint fully collateralized private assets called zAssets. These can be private synthetics of any digital asset, for instance, zBTC, zETH, and zUSD. To access these assets, Users on the platform are required to deposit their cryptocurrencies in a vault. The protocol then sent zAssets to their Panther wallet. Notably, these zAssets can be used across all of DeFi and can confidentially be routed through the Partner network.
The Panther Protocol provides different levels of disclosures. For instance, the protocol has a disclosure called Zero-knowledge. This allows users to prove compliance without providing any underlying data. Zero-Knowledge Proof technology and trust providers take advantage of a novel decentralized architecture for privacy and trust. The disclosure lays the groundwork for institutional players to come into DeFi without worrying about privacy and compliance.
Oliver Gale, the CEO of Panther Protocol and co-founder, explained:
“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.”
Following these successful private rounds, Panther Protocol will soon announce its Public Sale in Q3 2021.