Panther announces the implementation of its Polygon package

 Panther is proud to announce that their protocol is deploying a number of solutions in Polygon, introducing Private voting and Staking package.

Taking a step forwards.

After finalizing their TGE and launching $ZKP Staking on Ethereum’s Mainnet, the Panther core team quickly started examining ideas to optimize:

• The issuance of rewards for the community members that privately launched our protocol through LaunchDAO, a fascinating primitive for the blockchain industry.
• The distribution of vested tokens for Public Sale purchasers, aiming for the maximum immediate utility.
• Staking for all types of $ZKP holders, allowing them to compound their benefits thanks to lower transaction fees.

As Panther moves towards launching its v1, with Polygon Multi-Asset Shielded Pools enabling private asset transactions, they see this deployment as a perfect intermediate step to guarantee the protocol’s cost efficiency and utility. Through this initiative to distribute vesting options using the Polygon network and the deployment of a Polygon bridge, Panther also guarantees a swift transition between both networks for all of its users.

Governance and staking in Polygon, a winning, soon-to-be-private combination.

$ZKP is primarily a governance token for the Panther protocol, which aims to infuse DeFi with default privacy, utilizing a unique system including shielded assets and state-of-the-art cryptography to enable fully compliant disclosures.

By staking their tokens in Ethereum’s Mainnet, and now in Polygon, $ZKP holders will be able to govern the protocol while increasing their token’s scarcity. Panther has allocated a sizeable pool of rewards for stakers to incentivize user participation in protocol governance. According to the protocol’s roadmap, staking will also eventually transition to Private Staking, a modality solely within Panther’s Multi-Asset Shielded Pools in the Polygon network thanks to wrapped $ZKP, b$zZKP, a privacy-preserving zAsset representing a private right to vote within the protocol.

Why Multi-Asset Shielded Pools?

Panther’s move to Polygon follows an integration roadmap building up to the launch of MASPs on Polygon, which are crucial to Panther’s v1.

Thanks to Multi-Asset Shielded Pools, Panther will facilitate users the minting of zAssets, fully private, 1:1 collateralized versions of regular assets. zAssets, held in MASPs, facilitate fully private transactions which, thanks to Panther Reveals, can be disclosed by users at will. Since a high number of transactions is crucial for MASPs to provide a high grade of privacy, Polygon’s cost-efficiency is vital for Panther’s capability to bring its users compliant-ready privacy, the core vision of the protocol. For more information about MASPs, please read the corresponding article on this blog.

It’s important to note that, along with MASPs, Panther will develop a number of security-focused, audited bridges to allow users to bring assets from multiple chains into Panther. In this regard, Polygon also plays a crucial part in the development of the protocol, as it facilitates cost-efficiency in bridging and EVM (Ethereum Virtual Machine) compatibility.

The community shall decide.

Panther is (and thanks to its innovative decentralized launch, has always been) a fully decentralized autonomous organization. The Panther DAO has voted and decided through every major milestone of the protocol development, which will continue to be at the heart of Panther’s operations.

The Panther team has confirmed a positive reception of this initial idea (over 80% of Panther users approved this initiative through the protocol’s Discord, Telegram, and Twitter). As such, Panther will introduce a formal proposal to deploy the Polygon package in the coming weeks. Voting will happen completely off-chain and without cost to users within the Snapshot platform.

SOURCE: https://blog.pantherprotocol.io/moving-to-polygon-1cf95ddb1aa6