[PRESS RELEASE – Midtown, Gibraltar, 18th November, 2021]
At the moment, Panther Protocol has introduced that it’s partnership Flare, will probably be expanded into Flare’s Canary community, Songbird. Flare is the world’s first Turing-complete FBA (Federated Byzantine Settlement) community, and Panther is constructing the interoperable privateness layer DeFi and Web3, aiming to make privateness a typical, not an afterthought.
Flare began its mission to “Unlock the Worth” inherent within the 65% of blockchains that shouldn’t have native good contracts by bringing, for the primary time, true trustless utilization of these tokens with scalable good contracts and integrating Ethereum’s Digital Machine in a scalable means.
Blockchain interoperability is for sure a marked pattern in our business, and Flare is taking a singular method by incorporating greater blockchains that want good contracting and interoperability capabilities.
Flare and Songbird began this mission with XRP, Doge, Litecoin, Stellar and Algorand. Each events have said that they intention to convey new capabilities and privateness options to those initiatives with this collaboration.
Concerning the Partnership
Each Flare’s and Panther’s groups shared their enthusiasm in regards to the many areas of alternative between Panther and Songbird. Due to this, other than defining a number of methods for Flare’s Songbird customers to learn from privateness options and Panther’s to obtain help each from the Flare Mainnet and its Canary Community. The partnership might propel Panther in the direction of its milestones. The partnership settlement additionally serves to help the event of additional initiatives and privateness options by Panther on Songbird.
Constructing a Privateness Ecosystem
Songbird will combine Panther’s Shielded Swimming pools into its Ethereum Digital Machine (EVM) to allow on-chain privateness for its customers. Panther will deploy its privacy-preserving infrastructure on Songbird for code testing.
Thanks to those efforts, Panther customers will be capable to profit from non-public transactions over Songbird. That is anticipated to extend the consumer base and TVL potential of Panther’s Shielded Swimming pools.
Songbird customers will probably be included in Panther’s staking and governance. They’ll additionally be capable to profit from non-public DeFi throughout the community, entry selective disclosures each for retail customers and establishments, and luxuriate in early entry to Panther’s KYC/AML zero-knowledge answer on Songbird’s Institutional facet.
Upon finalizing the settlement, Co-Founder and CEO Oliver Gale mentioned: “From the primary day, there was clear alignment between the founders of Panther and Flare Community across the want for privateness, compliance, safety and scalability in blockchain ecosystems, and particularly these referring to institutional DeFi. In Flare and Songbird we see nice ecosystem companions, progressive know-how and clear action-oriented plans to mass adoption.”
Hugo Philion, Co-Founder and CEO at Flare and Songbird added “Songbird has launched to be a testbed for Flare and essentially the most ground-breaking decentralised applied sciences. So we’re thrilled that Panther are leveraging their zkSNARK cryptography and state-of-the-art asset mixing applied sciences to ship KYC and AML enabled privateness options that DeFi requires to make an enormous leap ahead. Stablecoins, utility tokens and NFTs can now be owned and traded with privateness while remaining compliant, giving sovereignty again to the consumer.”
Songbird is the Canary community for Flare, which is an operational blockchain with an outlined token provide, much like Polkadot’s Kusama community. Improvements and new dApp launches will occur first on Songbird and may then be rolled out on Flare after testing. Because of this Songbird will typically have extra superior options than Flare. Submit Flare launch, Songbird is meant to be a long run community for testing governance led adjustments to Flare however can take it’s personal path set by its personal token holder mediated governance. Songbird has demonstrated phenomenal progress, having solely existed for 8 weeks, it has already processed over 2.3M blocks and registered over 222K addresses.
About Panther Protocol
Panther is an end-to-end privateness protocol connecting blockchains to revive privateness in Web3 and DeFi whereas offering monetary establishments with a transparent path to competently 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. Customers 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 non-public metastrate. Panther envisions that zAssets will turn out to be an ever-expanding asset class for customers who need their transactions and techniques the way in which they need to all the time have been, non-public.
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