Panther Protocol releases ambitious whitepaper for an End-to-End DeFi Privacy Solution
We are delighted to announce the availability of our White Paper for everyone to read.
In our whitepaper, we distil our thinking around on-chain privacy and propose an end-to-end approach that leverages Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zkSNARK) and a game-theoretic model for pricing privacy.
At the core of our privacy solution are what we call zAssets, a new, fully collateralized, privacy-enhancing asset class. Users deposit digital assets such as BTC, ETH and USDT into Panther Vaults, and can use their newly minted zAssets (zBTC, zETH, zUSDT) across DeFi.
The document covers notions of privacy, highlights the importance of on-chain privacy and dissects the privacy vs. compliance dilemma, proposing that privacy and compliance can indeed co-exist. The paper also covers the economics of privacy and showcases the building blocks for enabling privacy preservation in DeFi, as well as implementation options.
Finally, the whitepaper describes the architecture of the protocol, with the actors of the network and its components, design goals and principles, and the project roadmap.
Some of the most interesting points are the description of the minting and burning of zAssets, our take on privacy mining (which rewards network participants who bootstrap the protocol from an anonymity set perspective), the thoughts behind our privacy-centric wallet, and the Panther DAO, which seeks to get community alignment through quadratic voting.
The diagrams provide a picture of what’s being proposed.
Another innovative feature of Panther, detailed in the whitepaper is how we handle disclosures. Panther provides users with a customizable level of privacy at the transaction level, providing end-users with complete control over their privacy settings while allowing Panther to become future-proof from a compliance-friendliness standpoint.
The main goals of our protocol are explicit:
(1) to provide a secure, private transaction ecosystem with a superior user experience
(2) to maintain composability with decentralized finance (DeFi) protocols
(3) to ensure privacy backed by a game-theoretic model
(4) to establish verifiable trust relationships between participants
(5) to develop a novel price discovery mechanism for privacy
CEO Oliver Gale, who is also a CBDC pioneer, commented, “We believe that Panther can offer retail and institutional users the perfect middle ground between privacy and compliance. If we advance society to a level where compliance is verified through zero-knowledge proofs, Panther will have contributed to solving one of the largest challenges around privacy, while protecting users from the prospect of a dystopian surveillance economy. The ultimate goal of the protocol is to provide users with freedom and sovereignty.”
We recently announced successfully raising $8 million in private rounds for our interoperable privacy solution for DeFi. The funds were raised from more than 140 investors demonstrating the breadth and interest in the project, and a community-driven approach to fundraising.
CTO Dr. Anish Mohammed, who is also known for his 20+ years in security and cryptography, for being an early advisor to Ripple, an Ethereum orange paper reviewer and for his work in several projects such as Ocean and Boson, complemented: “One of the transformative technologies to be developed over the past 30 years is Zero-Knowledge Proofs, which allow you to prove that you are telling the truth without revealing the underlying data, or secret. It is exciting to be able to put this powerful technology to work in our project. This is a game-changer.”
To read the white paper, please visit:
https://docsend.com/view/tbz99g285hbnn8ic
About Panther
Panther is a decentralized protocol that enables interoperable privacy in DeFi using zero-knowledge proofs.
Users can mint fully-collateralized, composable tokens called zAssets, which can be used to execute private, trusted DeFi transactions across multiple blockchains.
Panther helps investors protect their personal financial data and trading strategies, and provides financial institutions with a clear path to compliantly participate in DeFi.
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