Panther DAO voted to launch a private DeFi protocol at the end of January – Press Release Bitcoin News

Press release. The history of blockchain was created earlier this week.Thanks to more than 2,560 DAO votes Snapshot proposal, The Panther protocol was voted to start in a non-public and decentralized manner. This is the first time of its kind, and this feature allows Panther to take a step towards its mission of injecting local privacy into the DeFi ecosystem. It is also the first private governance system ever deployed in the crypto industry.

Panther’s decentralized, private release

In order to achieve a completely decentralized private release, Panther Protocol’s powerful community of enthusiasts uses a unique and state-of-the-art technology stack.Panther deployment Start DAO, The system allows every user who has completed the “know your customer” identity verification of their public and private token sales to issue a zero-knowledge proof that anonymously verifies their participation. Using this proof, individually verified users can privately vote to decide whether to initiate an agreement on the Ethereum and Polygon blockchains.

With more than 99% of votes in favor of launching the agreement, Panther set a positive precedent that the team expected to be the industry as a whole. Starting in a private and decentralized manner allows the agreement to be managed by the DAO from day 0, thereby protecting the team from any concerns about project control by the crypto community lawmakers.

LaunchDAO as a system can be used and decentralized by any blockchain or encryption-related project from day 0. Regarding this achievement and its impact on the blockchain ecosystem, Oliver Gale, CEO and co-founder of Panther said:

LaunchDAO represents the first time in the history of encryption that a fully verified user group can vote on the future existence or nonexistence of the protocol. The Panther protocol will be deployed and initiated by LaunchDAO in a private and trustless manner. In addition, the decentralized voting system has applications in both the legacy system and the Web3 system.

In turn, Anish Mohammed, CTO and co-founder and former advisor to the Ethereum Foundation and Ripple Labs, added:

“LaunchDAO also represents the official appearance of Panther ZK Reveals. ZK Reveals protects the identity of each voter, but uses zero-knowledge proof to verify that they are eligible to vote, while also enabling them to do so without revealing confidential information, such as their The result of the selection.”

It is also worth pointing out that voting for the Black Panther agreement is not the only decision of the DAO. The Panther community also chose to postpone the token generation of the project’s native token, $ZKP, to January 31, to allow the team to extend its preparation phase. On this date, the community will vote for the third time to trigger this event. Since Panther repeaters use zero-knowledge proofs (called Panther (ZK) Reveals) to pay all gas fees and off-chain voting, users can achieve this at zero cost.

What is the Black Panther Agreement

The Panther protocol is an end-to-end privacy protocol that connects the blockchain to restore privacy in Web3 and DeFi, while providing financial institutions with a clear way to participate in the digital asset market in compliance. Panther uses encrypted economic incentives and zkSNARKs technology to provide DeFi users with fully mortgaged digital assets with enhanced privacy.

Users can mint zero-knowledge zAsset by depositing any digital assets in the blockchain into the Panther vault. zAssets flows across blockchains through a privacy-first cross-chain DEX and a private metastrate. Panther anticipates that zAssets will become an ever-expanding asset class for users who want their transactions and strategies to stay the way they should be: private users.

Be sure to check the project website.

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