In this article we are going to introduce Panther protocol, which is one of the latest solutions to enhance privacy in DeFi world. Recently, this protocol could attract around $8 millions through one of its fundraising programs. More than 140 organizations and companies have invested in this project. Some of the most important ones are Alphabit Fund, Arcanum Capital, Black Dragon, DeepVentures, Defiants, Ellipti, Moonwhale, etc. The funds will be allocated for further developments of the protocol, which has the option of interoperability with various ranges of DeFi apps.
Panther improves DeFi world privacy
Privacy is one of the neglected elements in DeFi world and it needs to get improved along with other DeFi industry features. While DeFi provides permissionless and non-custodial financial system, many are still looking for more privacy as well as anonymity. In fact, these people believe that using DeFis can become somehow troublesome, since users cannot hide their identities as they expect.
DeFi is not a secure place!
When someone owns an address on blockchain, then all transactions made from that address can be observed and traced. For instance, many Uniswap high-net-worth traders are unwilling to complete transactions on Ethereum network and are not satisfied with the current situation. Therefore, many of them may face dangers from other traders and robots.
Panther protocol; a privacy solution
Panther aims to solve these challenges and problems. As planned by its developers, Panther protocol allows users to deposit cryptocurrencies on various blockchains and mint their collateral synthetic assets called zAsset. Each of zAssets is entirely private.
The Panther team stated that everyone can mint the private version of different synthetic tokens. These tokens include zBTC, zETH and zUSDT. Then, they can be used in different DeFi apps.
The Panther founder believes that zAssets are being developed as a class of assets and it is what traders are looking for (privacy). He has noted that through Panther protocol, stablecoins, utility tokens and NFTs will enter a new world of privacy.