News

Monthly Update - May 2023

Panther Team

• 6 min read
Monthly Update - May 2023

Table of Contents:

Dear Panthers,

It's the end of the month again. As such, it’s time to reflect on the progress we made in the last month.

Let’s start with our monthly update.

Tech Updates

v1 fees and rewards

Panther v1's fees and rewards are fully developed, now being tested using simulations to replicate real-world product activity cases. This is a milestone that will inform many decisions for Panther's release, as well as critical for the user experience throughout the product.

Furthermore, we have made significant progress on our relayers integration.

Gasless transactions and Relayers

Panther’s relayers are now also developed and interacting with external entities, enabling many testing use cases. Panther is also creating dApp nodes to support our activity in a decentralized way. Acting as intermediaries between Panther's privacy layer and the decentralized network, relayers support our privacy-preserving stack by obfuscating the origin of transactions, making it difficult for third parties to trace them.

Relayers can also be used to pay for gas in users’ name, adding an extra layer of anonymity to transactions. This integration is expected to significantly increase privacy by making it harder to link transactions to specific users.

v1 prototyping

Panther’s v1 is underway!!

v1 is not an MVP for Panther. It is a self-contained, finalized DeFi product that will protect users’ data and open new possibilities for institutional and retail users.

With v1's visual components finalized, just a few features are pending definition. We're nearing a point where prototypes are complete and gearing up towards upcoming releases. Some key parameters are also finalized, and, as mentioned above, we’re completing the fees and rewards schemes that will support the protocol. The main goal is to present a system that balances flexibility with maximum utility for $ZKP.

More work is also focusing on the mechanisms through which users exchange PRPs for $zZKP and their associated rewards. The main goal of this system is to balance on-chain privacy's value with utility, empowering users to make the most out of protocol rewards.

Finally, progress is ongoing with compliance support through third-party Web3 integrations that leverage ZK tech.

Panther’s SNARK: PMONK

Our CTO and Chief Scientist, Anish Mohammed, presented a research paper on Panther’s SNARK: PMONK (Permutations over Monomial-bases for Oecumenical Noninteractive arguments of Knowledge), at the Leading Privacy Alliance’s summit in Istanbul, Turkey.

You can watch his presentation on Youtube:

Keep an eye out for more updates on PMONK and other advancements in the Panther Protocol ecosystem! The published paper by the Panther team can also be found here.

Governance

We are thrilled to announce that the Panther DAO has officially approved PIP-14. This proposal formalizes the project’s Governance Framework and introduces a DAO Council formed by three highly reputable individuals external to Panther’s development.

PIP-14 on Snapshot.

Who is in Panther’s DAO Council?

Santiago Velez, Jillian Godsil, and Debra Farber will serve as the inaugural Panther DAO Council members. They will be responsible for vetting proposals before they reach the community voting stage.

As per their track record…

Santiago Velez is the co-Founder and Division Lead (R&D) at Block Digital Corporation, as well as VP of R&D at Sindric Solutions, LLC. He's also a former Nuclear Engineer, VP of UWUA L590 Engineers Union, and Panther Protocol user.

Jillian Godsil is a journalist, broadcaster, influencer, CEO, writer, former European Parliament candidate and Law Changer. She is also a Panther Protocol user & early contributor.

Debra Farber is host of The Shifting Privacy Left Podcast, as well as CEO, Principled LLC, and Advisor to the PrivacyTech Rise, Privado, the Institute of Operational Privacy Design, and XRSI.

Welcome, Panther DAO Council!

Governance framework

The community’s framework for building a more robust and decentralized Panther Protocol.

A large part of PIP-14 involved the Panther community establishing a new governance framework and formalizing it.

This landmark development follows extensive discussions on our community forum about the need for a decentralized, high-level decision-making process, and accountability for non-team members. The governance framework also formalizes implicit rules and guidelines for the community and technology contributors to collaborate in a decentralized way where every community member can make their voice heard.

We wrote about the significance of PIP-14 here.

Ecosystem

Events

Co-founder Oliver Gale is scheduled to speak at the European Blockchain Convention 2023 in Barcelona!

Oliver will be sharing his perspectives on privacy with the Blockchain Conference's 5000 Web3 ecosystem attendees.

Let us know if you'd like to schedule a meet!

#EBC2023 with Oliver Gale

Oliver also participated in the Global Family Office Summit 2023, organized by GDA Capital & SD - Global Markets. It was an excellent opportunity to share his insights on 'Privacy Solutions for a Digital World.'

We’ll soon be sharing clips and videos from his participation.

Oliver Gale on Privacy Solutions for a Digital World

Following this, co-founder Anish Mohammed joined a panel discussion with experts from ZeroSync, Mystiko Network, and the Fosun Web3 Fund on May 24th. They focused on the potential of Zero-Knowledge Proofs in building the Future of Bitcoin.

Anish Mohammed on ZK-Proofs and the future of Bitcoin.

Finally, Anish will also be speaking about “Data Sovereignty and user identity perspective in DeFi” during the Emerge Conference on May 28th in Dubai, alongside experts from Binance, NFT3com, and Cryptomeria Capital.

😎

Co-Founder Oliver Gale was also at the #Bitcoin Conf this May, connecting with key Bitcoin and Web3 ecosystem contributors.

Did you run into Oliver at the conference? 👀

Panther will also be a partner of the Web3 Privacy Summit. We recognize that sustainable privacy within DeFi is a community effort and are happy to lend our support to an initiative that recognizes the need for privacy literacy.

Clips, Podcasts, and Video

CEO Oliver Gale joined an all-star privacy panel with XX Network. Check it out for great insights on on-chain data:

To leave you with some small-sized nuggets of info, here are some clips of Oliver Gale on the CryptoNewsYes Podcast, where he spoke on crypto regulation and Panther's innovative approach to combining compliance with privacy:

  1. On the possibility of enabling institutions and enterprises to use Panther without risking regulatory violations, and how Panther v1 tackles this issue:

2. On how Panther’s zBridges & DeFi Adaptors tap into existing cross-chain liquidity and access smart contracts. Oliver discussed the potential for DeFi extensibility and privacy staking rewards:

About Panther

Panther is a decentralized protocol that enables interoperable privacy in DeFi using zero-knowledge proofs.

Users can mint fully-collateralized, composable tokens called zAssets, which can be used to execute private, trusted DeFi transactions across multiple blockchains.

Panther helps investors protect their personal financial data and trading strategies, and provides financial institutions with a clear path to compliantly participate in DeFi.

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