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Panther Protocol deploys new solution on Polygon to enhance privacy for DeFi » CryptoNinjas

Written by James Smith

Panther Protocol, an end-to-end privacy solution that protects privacy in DeFi and Web3, recently announced its deployment of a number of solutions on Polygon, including private voting and staking.

Users can now stake ZKP tokens on both Ethereum’s mainnet and Polygon, enabling ZKP holders to govern the protocol while increasing their tokens’ scarcity.

In addition to staking, Panther’s ZKP token is primarily a governance token for the Panther protocol, which aims to infuse DeFi with default privacy, utilizing a unique system featuring shielded assets and state-of-the-art cryptography to enable fully compliant disclosures.

Launch of MVP

As Panther moves towards launching its MVP, it will debut Polygon Multi-Asset Shielded Pools (MASPs) which will enable private asset transactions.

“We see this deployment as a perfect intermediate step to guarantee the protocol’s cost efficiency and utility. Through this initiative to distribute vesting options using the Polygon network and the deployment of a Polygon bridge, Panther also guarantees a swift transition between both networks.”
– Anish Mohammed, Co-Founder & CTO of Panther Protocol

Panther’s deployment on Polygon will ensure:

  • The issuance of rewards for the community members that privately launched the protocol through LaunchDAO, a privacy-preserving primitive for the blockchain industry.

  • The distribution of vested tokens for public sale purchasers through the Polygon network, aiming for maximum cost-efficiency.

  • Staking for all types of ZKP holders, allowing them to compound their benefits thanks to lower transaction fees.

According to the protocol’s roadmap, staking will eventually transition to Private Staking, a modality solely within Panther’s Multi-Asset Shielded Pools in the Polygon network. Private Staking takes advantage of wrapped ZKP, zZKP, a privacy-preserving zAsset representing a private right to vote within the protocol.

Lastly, Panther will develop a number of security-focused, audited bridges to allow users to bring assets from multiple chains into Panther. Polygon plays a crucial part in the development of the protocol, as it facilitates cost-efficiency in bridging and EVM (Ethereum Virtual Machine) compatibility.

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James Smith

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