- An end to end privacy solution, Panther Protocol, which protects in Web3.0 and decentralized finance, recently declares stationing of its handful of solutions on Polygon.
- Panther Protocol’s deployment will have its own perks like staking of all king of ZKP holders, dispersion of vested tokens and reward issuance.
- As per Panther Protocol’s roadmap, staking will ultimately transit to Private Staking, a modality alone in protocol’s multi-asset shielded pools.
The MVP Release
Panther protocol, an end-to-end privacy solution securing privacy in Web3 and DeFi, recently made an announcement that it has stationed a handful of solutions on Polygon Network, which includes private staking and voting.
Folks are now able to stake ZKP tokens on both Polygon and Ethereum mainnet, allowing governance to ZKP holders while making the token scarce.
Additionally, Panther Protocol’s ZKP token is majorly a governance token for the protocol itself, which eyes to blend decentralized finance with default privacy, using a distinct system presenting shielded assets and cutting-edge cryptography to allow entirely compliant disclosures.
As Panther Protocol takes more steps towards releasing its MVP, it will roll out Polygon Multi-Asset Shielded Pools or MASPs, which will allow private asset transfers.
As per the Chief Tech Officer and Co-founder of Panther Protocol, Anish Mohammed, the team sees this stationing as a perfect intermediate move to guarantee the protocol’s utility and cost-efficiency.
He added that, via this initiative to disperse vesting alternatives on Polygon Network and stationing of Polygon bridge, Panther Protocol also guarantees a fast transition among both networks.
This deployment will have its own perks. It will ensure the reward issuance for members of its community which privately released the protocol using LaunchDAO, a privacy-preserving primitive in the blockchain sector.
It will make sure that the dispersion of tokens for open sale acquirers via Polygon network, targeting for maximum cost efficiency. It also includes staking of all kinds of ZKP holders, enabling them to compound their perks, owing to reduced transaction fees.
As per the protocol’s roadmap, staking will ultimately transit to Private Staking, a modality only in Panther’s polygon-based Multi-Asset Shielded Pools. Private Staking makes use of wrapped ZKP, zZKP, a privacy-preserving zAsset featuring private voting rights inside the protocol.
Finally, Panther Protocol is eyeing to build a handful of security concentrated, audited bridges to enable users to fetch assets from different chains into the protocol.
Polygon Network has a vital part to play in protocol development, as it will assist in increasing cost efficiency in EV compatibility and bridging.
What Is Panther Protocol?
Because of the crystal clear and immutable nature of open blockchains, DeFi users can be monitored easily.
Panther Protocol offers users transactional privacy during interaction with DeFi and prevents their sovereignty and trading plans. At the heart of this protocol’s solutions are zAssets — completely collateralized privacy intensifying virtual assets, interoperable — leveraging zkSNARK technology.
Users can mint zero-knowledge zAssets through depositing virtual assets from any blockchain into vaults of Panther Protocol and utilizing these zAssets across a complete range of DeFi apps.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2022/03/08/panther-protocol-will-intensify-defi-privacy-via-latest-solutions-on-polygon/