Panther Protocol, which is building DeFi and Web3 privacy solutions, has closed the public sale, raising more than $22 million, the decentralized finance (DeFi) company announced on Thursday.

“This raise as part of our public sale demonstrates huge demand for an interoperable, compliance compatible privacy protocol,” the Panther Protocol Co-Founder and CEO, Oliver Gale said in a statement.

With the latest fundraise, Panther has raised $32 million in total. Additionally, the company highlighted that the public sale was successfully closed within 90 minutes and is optimistic that this will lead to a wider community engagement and participation.

Gale added: “We are grateful for this overwhelming interest in our project and are confident that this signals the importance of Panther’s mission, enhancing freedom and privacy for DeFi and Web3.”

Prioritizing Privacy

Panther is developing end-to-end privacy solutions on multiple public blockchains: Ethereum, Polygon, Flare, Songbird, NEAR and Elrond. The platform is aiming to create a ‘private-by-default, decentralized ecosystem’, thus unlocking the ‘value currently siloed between blockchains’.

The offerings of the DeFi platform will include APIs, SDKs and custom integrations. Moreover, it will allow blockchain developers to easily deploy privacy solutions within the apps.

Furthermore, the company is growing at a steady pace and has put together a team of 33 people from various fields like cybersecurity, cryptography, blockchain engineering, game theory, DeFi and others.

“As with duality of light, privacy has a dual nature, we are in the history of privacy where we are just reconciling, privacy’s dual nature. Panther protocol has managed to allow both privacy and authenticity, by combining zero-knowledge proof systems and selective disclosures,” said Anish Mohammed, the Co-Founder at Panther Protocol.