Weekly Update | Panther Protocol

Weekly Update | Panther Protocol

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Fellow Panthers,

As the week draws to a close, we’re excited to share the latest developments and progress with our community. This update covers a range of key advancements in both our ecosystem and product development:

Ecosystem updates

Panther integrates Kyber Network to revolutionize private access to DEXs

We are thrilled to announce our integration with the Kyber Network to revolutionize private access to DEXs while minimizing slippage. With the integration, Panther users can execute trades through the Kyber Network aggregator, which sources liquidity from multiple DEXs. These trades are wrapped in Panther’s privacy-enhancing technology, ensuring that the details of the transactions remain confidential.

Blog: how Panther zAssets enhance user privacy in DeFi

Our latest blog examines how Panther’s multi-chain privacy-preserving protocol intends to offer users access to public ledger liquidity while providing transactional anonymity. 

Panther’s CTO, Anish Mohammed, joins ZK Demo Day as a judge 

Our Co-Founder and CTO, Anish Mohammed, recently participated as a judge at ZK Demo Day, where he shared the stage with notable leaders from Blackrock, top venture capital firms, Web3 protocols, and other industry leaders. In addition, Anish was also recently invited as a guest on the Epicenter Podcast. The podcast focused on discussing on-chain privacy, the vision and progress of Panther Protocol, and our milestones ahead.

Panther Protocol testnet and rewards update

We’re glad to share that we’ve debuted on Airdrops.io to promote Panther testnet rewards and welcome more participants to Panther community. The testnet currently has over 1500 participants, and we’ve distributed over 500,000 $ZKP as rewards.

The team is planning to launch a Zealy-based incentivized ambassador program next week to further improve community participation and promote Panther.  

Our testnet rewards pot is 2 million $ZKP — have you signed up for our test dApp yet to earn your share? Grab the latest link from Panther’s docs to join our testing group and receive your $ZKP rewards.

Product updates

Stage 5 developments

Stage 5 includes using a third party Relayer service and supports gasless transactions via an Account Abstraction Paymaster contract. The team is currently performing integration testing with the second Relayer. Overall, the team is pleased with how well the end-to-end Relayer integration process is working. The team is still working on Stage 5 in parallel with other stages and expects to release it next week for community testing.

As you might be aware, Oshiya (previously known as Miner) optimizes gas usage by processing batches of newly created UTXOs and updating a Zero-Knowledge proof in a Merkle tree, which introduces a slight delay in batch creation. This process takes place in what’s called the Bus Tree, likened to the communal efficiency of a bus ride.

For users seeking immediate UTXO updates in the Merkle tree, we offer the Taxi Tree option, which promises faster processing, similar to taking a taxi. Last week, our team successfully deployed the Taxi Tree contract on the Mumbai testnet. The user interface has been updated to allow users to choose between Regular Processing (using the Bus) and Fast Processing (using a Taxi). In Stage 6, users will also be able to compare the network costs associated with these two processing options.

In addition, we have developed an exchange contract to facilitate the payment of Relayers in native tokens. This contract enables the conversion of $ZKP to $Matic via UniswapV3 on the Polygon network, streamlining transactions and enhancing our ecosystem’s functionality.

Stage 6 developments

Stage 6 of the testnet dApp includes fee management, basic disclosures, and zAccount renewal. The FeeMaster contract has been upgraded and is currently being reviewed. We anticipate that the Fee Master review will be complete this week and ready for deployment. 

Smart Contracts for Stage 6 is completed with final rounds of internal testing ongoing. The next two weeks will be utilized to get the dApp development close to completion and launch stage 6 for community testing by the end of the month however, we will know precise dates after a week.

About Panther

Panther Protocol is a cross-protocol layer that uses Zero-Knowledge technology to build DeFi solutions that aim to meet ever-evolving regulatory standards while satisfying users’ on-chain data privacy needs. Panther’s goal is to enable seamless access to DeFi via a cross-chain-supported ZK compliance protocol. Panther Protocol offers confidentiality across transactions in Shielded Pools; zSwap for DeFi integrations — enabling private swaps on third-party DEXs; and zTrade for internal OTC book for trading assets privately. Furthermore, Panther Protocol’s Zero-Knowledge primitives are generalizable to KYC, selective disclosures between trusted parties, private ID, voting, and data verification services.

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