Panther and Shyft Network establish partnership to advance privacy tech
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Dear Panther community,
We’re delighted to announce a new strategic partnership between Panther Protocol, and Shyft Network, a public ecosystem for building trust and compliance into blockchain data. The goal is to accelerate the development of privacy-enhancing technologies, data protection tooling, and mission-critical data attestation services.
As we advance our efforts in creating a truly private DeFi ecosystem for users and institutions, the importance of data sovereignty when making protocol design choices becomes even more clear. Privacy by default, absolute autonomy, and decision power over own data are all part of Panther’s value proposition.
Through this partnership and integrations, we will advance privacy tech and collectively raise the bar on the state of data protection tools.
For those familiar with Shyft Network’s unique propositions, you can clearly see the similarities between both projects. What could be perceived as competition in traditional models and paradigms is welcomed by both teams as a way to accelerate the arrival at the ultimate goal — to protect users from a rampant surveillance society and restore privacy in DeFi and Web3.
Through the partnership, Panther will enable on-chain privacy of Shyft Network’s native assets, allowing them to flow across public blockchains privately integrated by Panther, such as Ethereum, NEAR, Elrond, and Polygon.
Shyft Network will provide value to Panther Protocol through enterprise and government compliance and data attestation services, a result of deploying Panther to Shyft Network’s Layer 1.
This update is a direct solution for ensuring that institutional dark pools remain compliant while also private — a significant win for addressing issues of front running and algorithm obfuscation amidst mass adoption in DeFi.
Additionally, the teams will also be heavily involved in technical collaboration and research for technology development and deployment related to privacy schemes using zero-knowledge proof systems.
“Shyft brings to the Panther ecosystem, the realisation of trust providers, and combined with selective disclosures, which Panther brings to the Shyft ecosystem, the duality of authenticity and privacy is achieved, which is currently non-existent,” said Panther CTO and Co-Founder, Anish Mohammed.
“At our core, Shyft Network is committed to building bridges and solutions across chains and protocols that integrate innovative technology to make our interactions and transactions private and authentic. Through utilizing Panther’s next-generation dark pool technology for private assets and Shyft Network’s attestation and compliant asset infrastructure, we’re offering a one-two punch that will accelerate these essential services to ensure privacy, decentralization, and openness in DeFi. In doing so, we’ll provide anonymous solutions for growing issues like blinded trade front-running in DEXs,” said Joseph Weinberg, Co-Founder of Shyft Network.
Privacy and sovereignty back in the hands of users
Panther and Shyft Network are actively involved in developing technologies that, with a consent-based framework, efficiently put users in control of their disclosures. This mindset is key to the mission Panther espouses and the ongoing pursuit to create secure, decentralized mechanisms that can positively impact finance and every sphere of society in which a person’s data might be under scrutiny.
Oliver Gale, CEO and Co-Founder, Panther Protocol, said “Our goal is to not increment compliance technologies but enable their wholesale transformation. By separating the act of verifying compliance data from the need to store it, the costs and risks of data storage and security are removed. Shyft + Panther enables this duality.”
In a growingly interconnected world, such efforts are critical to pushing back on the privacy erosion experienced (albeit unknowingly) by users in Web2 and Web3 alike.
Onwards!
About Shyft Network
Shyft Network is a public protocol designed to aggregate and embed trust, validation, and discoverability into data stored on public and private ecosystems, and facilitate information transfer between permissioned and permissionless networks. By incentivizing individuals and enterprises to work together, Shyft Network allows for the layering of context on top of data, turning raw data into meaningful information.
Want to learn more about Shyft Network?
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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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