DeFi privacy project Panther raises $22M in 1.5-hour public sale

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Panther's nationalist merchantability progressive 5% of the full ZKP supply, with 15% being sold via seed, pre-seed and backstage funding.

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DeFi privateness  task  Panther raises $22M successful  1.5-hour nationalist   sale

Panther Protocol, a privacy-enhancing exertion supplier for the decentralized concern (DeFi) industry, has completed its nationalist merchantability to proceed gathering privateness solutions for DeFi and Web3.

Panter announced to Cointelegraph connected Nov. 25 that it raised $22 cardinal successful its caller nationalist merchantability of ZKP tokens, bringing the full magnitude raised to $32 million.

Starting connected Nov. 23, the Panther Protocol nationalist merchantability successfully closed successful conscionable nether 90 minutes, the Panther task antecedently announced.

Launched successful Q3 2020, the Panther Protocol is built utilizing zk-SNARKs, a new signifier of zero-knowledge cryptography implemented for fashionable privacy-focused cryptocurrencies similar Zcash (ZEC). The acronym “zk-SNARK” stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” referring to a concern wherever 1 tin beryllium possession of definite accusation without revealing that information.

Building connected aggregate blockchains including Ethereum, Polygon, Flare, Near and Avalanche, Panther is processing an interoperable privateness furniture for DeFi and Web3. The protocol uses zAssets, 1:1 backed representations of the underlying assets offering users benefits of backstage transactions successful the caller plus type.

As antecedently announced by Panther, the protocol’s nationalist merchantability involvea 5% of the full ZKP proviso with “varying unlocking schedules.” 15% of the full proviso was sold via pre-seed, effect and 3 consequent backstage merchantability rounds. According to Panther, the protocol has raised $10 cardinal done backstage funding.

Related: Polkadot-based privateness task Manta Network raises $5.5M

Some of the expected investors that were consenting to enactment successful Panther’s $22 cardinal nationalist merchantability person complained astir not being capable to proceed with payment.

“Shocking enactment connected the Discord, was connected the tract for 90 minutes and wouldn’t fto maine marque a azygous outgo due to the fact that the buttons didn’t work, past nary effect for an hr from anybody successful the discord,” 1 expected capitalist reported.

Button did not enactment but everything other erstwhile you nonstop your details ID and pictures works good done your mobile phone. So wherever is the justness present erstwhile we hold successful line, registered KYC and each that things and present we person nary accidental to bargain it!

— Maro Pagi (@MaroPagi) November 23, 2021

The Panther task did not instantly respond to Cointelegraph’s petition for comment.

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