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January 17, 2022
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Panther DAO Votes to Launch Private DeFi Protocol End of January – Press release Bitcoin News

PRESS RELEASE. Blockchain historical past was made earlier this week. Thanks to greater than 2,560 DAO votes in a Snapshot proposal, the Panther Protocol was voted to be launched in a non-public, decentralized method. This constitutes the very first occasion of its sort, a function that units Panther a step in the direction of its mission to infuse the DeFi ecosystem with native privateness. It can also be the very first Private Governance System ever deployed within the crypto business.

Panther’s decentralized, personal launch

To obtain a completely decentralized, personal launch, Panther Protocol’s sturdy neighborhood of fans used a singular, state-of-the-art tech stack. Panther deployed LaunchDAO, a system permitting each person that had accomplished Know-Your-Customer id verification for its Public and Private token gross sales to challenge a zero-knowledge proof anonymously verifying their participation. Using this proof, individually-verified customers might privately vote on whether or not or not to launch the protocol on the Ethereum and Polygon blockchains.

With over 99% of the votes in favor of launching the protocol, Panther has set what the crew expects will probably be a constructive precedent all through the business. Launching in a non-public, decentralized method permits the protocol to be ruled by a DAO from Day 0, in flip defending the crew from any issues by lawmakers of the crypto neighborhood relating to the management of the undertaking.

LaunchDAO as a system might be used and carried out by any blockchain or crypto-related undertaking pursuing decentralization from Day 0. About this achievement and its influence upon the blockchain ecosystem, Panther’s CEO and Co-Founder, Oliver Gale, has mentioned:

LaunchDAO represents the primary time in crypto historical past a completely verified person base has been ready to vote on the long run existence or non-existence of a protocol. The Panther protocol will probably be deployed and launched privately and trustlessly by the LaunchDAO. Furthermore, decentralized voting techniques have functions throughout each legacy and Web3 techniques.

In flip, Anish Mohammed, CTO and co-Founder, in addition to former advisor to the Ethereum Foundation and Ripple Labs, provides:

“LaunchDAO also represents the official debut of Panther ZK Reveals. ZK Reveals protect the identity of each voter, yet use zero-knowledge proofs to validate that they are both qualified to vote whilst also enabling them to do so without leaking confidential information, such as their selected outcome.”

It can also be value stating that the vote to release the Panther Protocol hasn’t been the one resolution of the DAO. The Panther neighborhood has additionally elected to postpone the Token Generation Event for the undertaking’s native token, $ZKP, till January thirty first, to permit the crew to prolong its preparation stage. Upon this date, a 3rd vote by the neighborhood will happen to set off this occasion. This is made doable at zero value to customers thanks to Panther relayers that cowl all gasoline charges and off-chain voting utilizing the zero-knowledge proofs, generally known as Panther (ZK) Reveals.

What is Panther Protocol

Panther Protocol is an end-to-end privateness protocol connecting blockchains to restore privateness in Web3 and DeFi whereas offering monetary establishments with a transparent path to compliantly take part in digital asset markets. Panther offers DeFi customers with absolutely collateralized privacy-enhancing digital belongings, leveraging crypto-economic incentives and zkSNARKs expertise.

Users can mint zero-knowledge zAssets by depositing digital belongings from any blockchain into Panther vaults. zAssets movement throughout blockchains by way of a privacy-first interchain DEX and a non-public metastrate. Panther envisions that zAssets will grow to be 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: personal.

Be positive to take a look at the undertaking’s Website.

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