Panther Protocol announced a merger with Polygon
Panther Protocol that builds a private scalable infrastructure for smart contract platforms, decentralized finance and Web 3.0, announced a partnership with Polygon, Ethereum’s second-tier scaling solution.
The Panther Protocol builds a product (MVP) based on Polygon and will provide the Polygon network with compliant privacy and compliance-friendly mechanisms. In addition to technical support, Polygon will help Panther collaborate with projects within its ecosystem.
Panther uses zk-SNARK technology to enable users to mint fully secured, privacy-enhancing zero-knowledge assets (zAssets) by depositing their digital assets from any blockchain into Panther’s vaults. They can then use zAsset in the DeFi ecosystem.
The product will allow early adopters of Panther to become familiar with zAsset, which provides privacy by default while maintaining DeFi build capability. In addition, there are private asset transfers, voluntary full disclosure of selected transactions and their relationships, and the ability to interact with Panther via a web wallet.
Panther decided to launch an MVP on Polygon because the network has demonstrated its high technical capabilities and low fees, which will help protect zAsset and the DeFi ecosystem.
Panther Protocol CEO Oliver Gale said the partnership with Polygon will allow zAsset to be used among all Panther users while maintaining privacy, scalability and regulatory compliance.