Coming Soon: Panther Protocol’s MVP Launch on Polygon
Panther Protocol is proud to announce the launch and scope of their Minimum Viable Product!
Why decided to build it on Polygon, and how this fits into the further development of the Protocol and the creation of a Private DeFi ecosystem.
Software development is often conceptualized as the fruit of ambitious and backbreaking labor, with a product idea going from a Eureka-moment into a Big Bang of a launch. However, in today’s tech environment, processes are radically different.
We understand progress as a continuous, dynamic journey, and so we focus on releasing products that can be tested and used by the market as soon as possible.
This philosophy is accompanied by a Minimum Viable Product (MVP) that derives benefits immediately while the development team concentrates on incorporating real-world feedback while reaching new milestones towards a grand vision. And, as you may imagine, these ideas and philosophy lend themselves surprisingly well to the composable nature of the Web3 and DeFi ecosystems.
The MVP will allow the first Panther users to get acquainted with zAssets, which provide privacy by default, whilst retaining DeFi interoperability.
Their launch will be implemented via a few shielding pools on Polygon, keeping the balance of zAssets permanently backed 1:1 by their native collateral counterparts in Panther Vaults.
At the MVP stage, you can expect to see and use:
- Shielding and deshielding of assets to create zAssets.
- Private transfer of assets.
- Voluntary, full disclosures of selected transactions and their linkage.
- Panther’s web wallet.
- Panther Vaults.
- A flavor of Panther’s DAO.
- Rewards mechanisms for users and providers of assets to Shielded Pools.
Why launching the MVP on Polygon?
We will launch our MVP on Polygon (formerly known as Matic) while launching the $ZKP token on the Ethereum network. We’ll, therefore, take advantage of Polygon’s interoperable capabilities to bridge $ZKP over.
We chose Polygon because it has demonstrated incredible technical capabilities and has extremely low fees compared to Ethereum.
This helps make the initial launch faster, enables our users and community to start using Panther, and is cheaper to use. They aim to make the protocol safer, allowing the proper shielding (mixing) of assets in Pools by giving users better incentives to add tokens to Panther Pools.
About Panther Protocol
Panther Protocol is an end-to-end privacy protocol for DeFi. Panther provides DeFi users with fully collateralized privacy-enhancing digital assets, leveraging crypto-economic incentives and zkSNARKs technology. Users are able to mint zero-knowledge zAssets by depositing digital assets from any blockchain into Panther vaults. zAssets will become an ever-expanding asset class for users who want their transactions and strategies the way they should always have been: private.
Panther is fully compatible with AML regulations globally through the use of the Panther Metastrate — a zero-knowledge data layer that enables users to disclose all or some of their transaction histories to parties of their choosing, either fully or through the use of zk attestations.
Want to learn more about it?
Check out our Whitepaper
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SOURCE: https://blog.pantherprotocol.io/coming-soon-panther-protocols-mvp-launch-on-polygon-6d9390e10028
