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

press release

PRESS RELEASE. Blockchain history was made earlier this week. Thanks to more than 2,560 DAO votes in a Snapshot proposal, the Panther Protocol was voted to be launched in a private, decentralized manner. This constitutes the very first event of its kind, a feature that sets Panther a step towards its mission to infuse the DeFi ecosystem with native privacy. It is also the very first Private Governance System ever deployed in the crypto industry.

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 LaunchDAO, a system allowing every user that had completed Know-Your-Customer identity verification for its Public and Private token sales to issue a zero-knowledge proof anonymously verifying their participation. Using this proof, individually-verified users could privately vote on whether 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 team expects will be a positive precedent throughout the industry. Launching in a private, decentralized manner allows the protocol to be governed by a DAO from Day 0, in turn protecting the team from any concerns by lawmakers of the crypto community regarding the control of the project.

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

LaunchDAO represents the first time in crypto history a fully verified user base has been able to vote on the future existence or non-existence of a protocol. The Panther protocol will be deployed and launched privately and trustlessly by the LaunchDAO. Furthermore, decentralized voting systems have applications across both legacy and Web3 systems.

In turn, Anish Mohammed, CTO and co-Founder, as well as former advisor to the Ethereum Foundation and Ripple Labs, adds:

“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. Upon this date, a third vote by the community will take place to trigger this event. This is made possible at zero cost to users thanks to Panther relayers that cover all gas fees and off-chain voting using the zero-knowledge proofs, known as Panther (ZK) Reveals.

What is Panther Protocol

Panther Protocol is an end-to-end privacy protocol connecting blockchains to restore privacy in Web3 and DeFi while providing financial institutions with a clear path to compliantly participate in digital asset markets. Panther provides DeFi users with fully collateralized privacy-enhancing digital assets, leveraging crypto-economic incentives and zkSNARKs technology.

Users can mint zero-knowledge zAssets by depositing digital assets from any blockchain into Panther vaults. zAssets flow across blockchains via a privacy-first interchain DEX and a private metastrate. Panther envisions that zAssets will become an ever-expanding asset class for users who want their transactions and strategies the way they should always have been: private.

Be sure to check out the project’s Website.

Stay connected: Telegram | Twitter | LinkedIn | Medium


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Bitcoin.com Media

Bitcoin.com is the premier source for everything crypto-related.Contact ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Kingdom Karnage Raises $2M From Animoca Brands, Enjin and DFG to Boost GameFi Features

Pakistan's Central Bank Decides to Completely Ban Cryptocurrency: Report

Image Credits: Shutterstock, Pixabay, Wiki Commons

Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here

Related Posts
Northern PR Stars: Corporate Communication Specialists thumbnail

Northern PR Stars: Corporate Communication Specialists

Murtala Bello, Abdulazeez Abdullahi and Hassan Abdul Northern PR Stars: Corporate Communication Specialists By Maryam Na-Allah Umar-Baba In today’s dynamic and interconnected world, Public Relations (PR) has emerged as a formidable force, shaping narratives and influencing public opinion. As the business landscape continues to evolve, the Northern region of Nigeria has also witnessed an impressive
Read More
Limiting methane can be a quick and inexpensive solution to the climate thumbnail

Limiting methane can be a quick and inexpensive solution to the climate

През декември европейските депутати ще дискутират предложенията на ЕК за този замърсител на околната среда Снимка: Архив Ройтерс След като изготвиха стратегия за ограничаването на въглеродните емисии, страните от ЕС ще трябва да се подготвят за лимит на още един опасен за атмосферата газ - метана. Комисията по околна среда към Европейския парламент (ЕП) подкрепи…
Read More
Spritpreise: USA erwägen Aussetzung der Benzinsteuer thumbnail

Spritpreise: USA erwägen Aussetzung der Benzinsteuer

Spritpreise USA erwägen Aussetzung der Benzinsteuer In den USA sind die Benzinpreise zuletzt deutlich gestiegen. Die Aussetzung der Benzinsteuer sei daher „ein ziemlich offensichtlicher“ Schritt. Angesichts der hohen Inflation erwägen die US-Regierung von Präsident Joe Biden und ranghohe demokratische Abgeordnete eine Aussetzung der Benzinsteuer auf Bundesebene. Darüber werde diskutiert, sagte am Dienstag der Mehrheitsführer der…
Read More
gg了_开开实业(600272)股吧_东方财富网股吧 thumbnail

gg了_开开实业(600272)股吧_东方财富网股吧

发表于 2022-01-21 14:53:16 东方财富Android版 郑重声明:用户在财富号/股吧/博客社区发表的所有信息(包括但不限于文字、视频、音频、数据及图表)仅代表个人观点,与本网站立场无关,不对您构成任何投资建议,据此操作风险自担。 郑重声明:用户在社区发表的所有资料、言论等仅代表个人观点,与本网站立场无关,不对您构成任何投资建议。用户应基于自己的独立判断,自行决定证券投资并承担相应风险。《东方财富社区管理规定》
Read More
Norway Surprise Unemployment Drop Cuts Odds of Rate Cut in 2024 thumbnail

Norway Surprise Unemployment Drop Cuts Odds of Rate Cut in 2024

(Bloomberg) -- A decline in Norway’s adjusted unemployment rate that suprised analysts is likely to reduce the already low chance of a reduction in borrowing costs before next year. The seasonally adjusted registered jobless rate for August fell to 2% from the previous month’s 2.1% that was the highest level in more than two years
Read More
IRS updated digital asset tax form ditches wallet address, transaction ID requirements thumbnail

IRS updated digital asset tax form ditches wallet address, transaction ID requirements

The United States Internal Revenue Service (IRS) has posted an early draft of the updated tax Form 1099-DA for digital asset investors, dropping several controversial demands from previous drafts, including a requirement for filers’ to submit their digital asset wallet addresses and transaction IDs. The new tax Form 1099-DA, “Digital Asset Proceeds from Broker Transactions,” is
Read More
Index Of News
Total
0
Share