Decentralized Protocol Launch: Panther DAO Votes to Launch Private DeFi Protocol End of January

PRESS RELEASE. Blockchain past was made earlier this week. Thanks to much than 2,560 DAO votes successful a Snapshot proposal, the Panther Protocol was voted to beryllium launched successful a private, decentralized manner. This constitutes the precise archetypal lawsuit of its kind, a diagnostic that sets Panther a measurement towards its ngo to infuse the DeFi ecosystem with autochthonal privacy. It is besides the precise archetypal Private Governance System ever deployed successful the crypto industry.

Panther’s decentralized, backstage launch

To execute a afloat decentralized, backstage launch, Panther Protocol’s beardown assemblage of enthusiasts utilized a unique, state-of-the-art tech stack. Panther deployed LaunchDAO, a strategy allowing each idiosyncratic that had completed Know-Your-Customer individuality verification for its Public and Private token income to contented a zero-knowledge impervious anonymously verifying their participation. Using this proof, individually-verified users could privately ballot connected whether oregon not to motorboat the protocol connected the Ethereum and Polygon blockchains.

With implicit 99% of the votes successful favour of launching the protocol, Panther has acceptable what the squad expects volition beryllium a affirmative precedent passim the industry. Launching successful a private, decentralized mode allows the protocol to beryllium governed by a DAO from Day 0, successful crook protecting the squad from immoderate concerns by lawmakers of the crypto assemblage regarding the power of the project.

LaunchDAO arsenic a strategy could beryllium utilized and implemented by immoderate blockchain oregon crypto-related task pursuing decentralization from Day 0. About this accomplishment and its interaction upon the blockchain ecosystem, Panther’s CEO and Co-Founder, Oliver Gale, has said:

“LaunchDAO represents the archetypal clip successful crypto past a afloat verified idiosyncratic basal has been capable to ballot connected the aboriginal beingness oregon non-existence of a protocol. The Panther protocol volition beryllium deployed and launched privately and trustlessly by the LaunchDAO. Furthermore, decentralized voting systems person applications crossed some bequest and Web3 systems.“

In turn, Anish Mohammed, CTO and co-Founder, arsenic good arsenic erstwhile advisor to the Ethereum Foundation and Ripple Labs, adds:

“LaunchDAO besides represents the authoritative debut of Panther ZK Reveals. ZK Reveals support the individuality of each voter, yet usage zero-knowledge proofs to validate that they are some qualified to ballot whilst besides enabling them to bash truthful without leaking confidential information, specified arsenic their selected outcome.”

It is besides worthy pointing retired that the ballot to merchandise the Panther Protocol hasn’t been the lone determination of the DAO. The Panther assemblage has besides elected to postpone the Token Generation Event for the project’s autochthonal token, $ZKP, until January 31st, to let the squad to widen its mentation stage. Upon this date, a 3rd ballot by the assemblage volition instrumentality spot to trigger this event. This is made imaginable astatine zero outgo to users acknowledgment to Panther relayers that screen each state fees and off-chain voting utilizing the zero-knowledge proofs, known arsenic Panther (ZK) Reveals.

What is Panther Protocol

Panther Protocol is an end-to-end privateness protocol connecting blockchains to reconstruct privateness successful Web3 and DeFi portion providing fiscal institutions with a wide way to compliantly enactment successful integer plus markets. Panther provides DeFi users with afloat collateralized privacy-enhancing integer assets, leveraging crypto-economic incentives and zkSNARKs technology.

Users tin mint zero-knowledge zAssets by depositing integer assets from immoderate blockchain into Panther vaults. zAssets travel crossed blockchains via a privacy-first interchain DEX and a backstage metastrate. Panther envisions that zAssets volition go an ever-expanding plus people for users who privation their transactions and strategies the mode they should ever person been: private.

Be definite to cheque retired the project’s Website.

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