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

PRICE RELEASE The first blockchain history record was established earlier in the week. With more than 2,560 DAO vote in a Snapshot of the proposalIn a decentralized, private manner, the Panther Protocol launched was approved by its members. Panther is now a step closer to its goal of infusing the DeFi ecosystem’s native privacy with this first-of-its kind event. The first Private Governance System in the cryptocurrency industry has also been deployed.

Panther’s decentralized, private launch

To achieve a fully decentralized, private launch, Panther Protocol’s strong community of enthusiasts used a unique, state-of-the-art tech stack. Panther deployed LaunchDAOThis system allows every user to receive a proof of participation anonymously verifying that they have completed Know Your Customer identification verification. Using this proof, individually-verified users could privately vote on whether or not to launch the protocol on the Ethereum and Polygon blockchains.

Panther received over 99% support for launching the protocol. The team believes this will set a good precedent across the industry. Decentralized, private launch allows for the protocol’s governance to begin from Day 1. This will protect the team and prevent any potential concerns from lawmakers in the crypto world about its control.

LaunchDAO, a blockchain- or crypto-related project that aims at decentralization starting Day 0, could use it to implement LaunchDAO. About this achievement and its impact upon the blockchain ecosystem, Panther’s CEO and Co-Founder, Oliver Gale, has said:

LaunchDAO is the first time that a verified user base can vote for the existence or demise of a protocol in crypto history. LaunchDAO will deploy and launch the Panther protocol in private and anonymous manner. Decentralized voting systems can be used in legacy as well as Web3 systems.

Anish Mohammed, the CTO and cofounder of Ethereum Foundation, RippleLabs and Co-Founder of Ripple, added:

“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 is also worth pointing out that the vote to release the Panther Protocol hasn’t been the only decision of the DAO. The Panther community has also elected to postpone the Token Generation Event for the project’s native token, $ZKP, until January 31st, to allow the team to extend its preparation stage. A third vote will be held by the community to activate this event. Thanks to Panther relayers, which cover gas and other costs as well as off-chain voting with the Zero-Knowledge Proofs (ZK), Reveals, this is possible for users at no cost.

What is Panther Protocol?

Panther Protocol, an end-to–end privacy protocol that connects blockchains in order to restore privacy in Web3 or DeFi and provide financial institutions with clear pathways to legally participate in digital asset market. Panther offers DeFi users fully-collateralized privacy-enhancing digital assets that are secured using crypto-economic incentives as well as zkSNARKs tech.

By depositing digital assets on any blockchain to Panther vaults, users can create zero-knowledge ZAssets. Private metastrate and an interchain privacy DEX allow for zAssets transfer across all blockchains. Panther sees zAssets as an asset class that will continue to grow for users who wish their transactions and strategies to be private.

Be sure to check out the project’s Website.

Stay connected Telegram | Twitter | LinkedIn | Medium

 


This press release is for informational purposes only. The promoted company and any affiliates are to be vetted by readers before they take any action. Bitcoin.com cannot be held responsible for any loss or damage caused, directly or indirectly by, the use or reliance of any content, goods and services mentioned in the press releases.

Bitcoin.com Media

Bitcoin.com is your best source for all things crypto-related.
For press releases, sponsorship posts, podcasts, and other opportunities, contact ads@bitcoin.com

Image creditShutterstock. Pixabay. Wiki Commons

Get more Crypto News at CFX Magazine