Panther Protocol Closes Public Sale in 90 Minutes, Secures $22M

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 Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term 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 Cryptography Cryptography is the mathematical field that was used to develop the protocol for the Bitcoin network. It has since been utilized in the formation of other blockchain-based cryptocurrency networks. In its most basic form, cryptography allows for the creations of mathematical proofs that can be used to provide high levels of digital security. More specifically, this entails the practice and study of techniques for secure communication in the presence of third parties. Cryptography helps analyze an Cryptography is the mathematical field that was used to develop the protocol for the Bitcoin network. It has since been utilized in the formation of other blockchain-based cryptocurrency networks. In its most basic form, cryptography allows for the creations of mathematical proofs that can be used to provide high levels of digital security. More specifically, this entails the practice and study of techniques for secure communication in the presence of third parties. Cryptography helps analyze an Read this Term, 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.