Thursday, January 27, 2022

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

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PRESS RELEASE. Blockchain historical past was made earlier this week. Thanks to greater than 2,560 DAO votes in a Snapshot proposal, the Panther Protocol was voted to be launched in a personal, decentralized method. This constitutes the very first occasion of its type, a function that units Panther a step in direction of its mission to infuse the DeFi ecosystem with native privateness. It can be the very first Private Governance System ever deployed within the crypto trade.

Panther’s decentralized, non-public launch

To obtain a totally decentralized, non-public launch, Panther Protocol’s robust group of fans used a novel, state-of-the-art tech stack. Panther deployed LaunchDAO, a system permitting each consumer that had accomplished Know-Your-Customer identification verification for its Public and Private token gross sales to concern a zero-knowledge proof anonymously verifying their participation. Using this proof, individually-verified customers might privately vote on whether or not or not to launch the protocol on the Ethereum and Polygon blockchains.

With over 99% of the votes in favor of launching the protocol, Panther has set what the crew expects shall be a constructive precedent all through the trade. Launching in a personal, decentralized method permits the protocol to be ruled by a DAO from Day 0, in flip defending the crew from any considerations by lawmakers of the crypto group relating to the management of the venture.

LaunchDAO as a system could possibly be used and applied by any blockchain or crypto-related venture pursuing decentralization from Day 0. About this achievement and its influence upon the blockchain ecosystem, Panther’s CEO and Co-Founder, Oliver Gale, has mentioned:

LaunchDAO represents the primary time in crypto historical past a totally verified consumer base has been ready to vote on the longer term existence or non-existence of a protocol. The Panther protocol shall be deployed and launched privately and trustlessly by the LaunchDAO. Furthermore, decentralized voting programs have functions throughout each legacy and Web3 programs.

In flip, Anish Mohammed, CTO and co-Founder, in addition to former advisor to the Ethereum Foundation and Ripple Labs, provides:

“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 can be value declaring that the vote to release the Panther Protocol hasn’t been the one resolution of the DAO. The Panther group has additionally elected to postpone the Token Generation Event for the venture’s native token, $ZKP, till January thirty first, to permit the crew to prolong its preparation stage. Upon this date, a 3rd vote by the group will happen to set off this occasion. This is made doable at zero price to customers thanks to Panther relayers that cowl all fuel charges and off-chain voting utilizing the zero-knowledge proofs, often called Panther (ZK) Reveals.

What is Panther Protocol

Panther Protocol is an end-to-end privateness protocol connecting blockchains to restore privateness in Web3 and DeFi whereas offering monetary establishments with a transparent path to compliantly take part in digital asset markets. Panther gives DeFi customers with absolutely collateralized privacy-enhancing digital belongings, leveraging crypto-economic incentives and zkSNARKs know-how.

Users can mint zero-knowledge zAssets by depositing digital belongings from any blockchain into Panther vaults. zAssets movement throughout blockchains by way of a privacy-first interchain DEX and a personal metastrate. Panther envisions that zAssets will change into an ever-expanding asset class for customers who need their transactions and methods the way in which they need to all the time have been: non-public.

Be positive to take a look at the venture’s Website.

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