You are here
Home > All Crypto > DeFi privateness undertaking Panther raises $22M in 1.5-hour public sale

DeFi privateness undertaking Panther raises $22M in 1.5-hour public sale

Panther Protocol, a privacy-enhancing expertise supplier for the decentralized finance (DeFi) business, has accomplished its public sale to proceed constructing privateness options for DeFi and Web3.

Panter introduced to Cointelegraph on Nov. 25 that it raised $22 million in its latest public sale of ZKP tokens, bringing the whole quantity raised to $32 million.

Beginning on Nov. 23, the Panther Protocol public sale efficiently closed in slightly below 90 minutes, the Panther undertaking beforehand introduced.

Launched in Q3 2020, the Panther Protocol is constructed utilizing zk-SNARKs, a new type of zero-knowledge cryptography applied for fashionable privacy-focused cryptocurrencies like Zcash (ZEC). The acronym “zk-SNARK” stands for “Zero-Information Succinct Non-Interactive Argument of Information,” referring to a scenario the place one can show possession of sure data with out revealing that data.

Constructing on a number of blockchains together with Ethereum, Polygon, Flare, Close to and Avalanche, Panther is creating an interoperable privateness layer for DeFi and Web3. The protocol makes use of zAssets, 1:1 backed representations of the underlying belongings providing customers advantages of personal transactions within the new asset kind.

As beforehand introduced by Panther, the protocol’s public sale involvea 5% of the whole ZKP provide with “various unlocking schedules.” 15% of the whole provide was bought through pre-seed, seed and three subsequent personal sale rounds. In response to Panther, the protocol has raised $10 million by means of personal funding.

Associated: Polkadot-based privateness undertaking Manta Community raises $5.5M

Among the supposed traders that have been keen to take part in Panther’s $22 million public sale have complained about not having the ability to proceed with fee.

“Stunning help on the Discord, was on the location for 90 minutes and wouldn’t let me make a single fee as a result of the buttons didn’t work, then no response for an hour from anyone within the discord,” one supposed investor reported.

The Panther undertaking didn’t instantly reply to Cointelegraph’s request for remark.

Supply hyperlink

Leave a Reply