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Panther Protocol Announces Partnership with Elrond to Enable Privacy Preserving DeFi Products and Interchain Swaps For Elrond Assets By DailyCoin

by Mike Robinson

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Panther Protocol announces partnership with Elrond in order to enable privacy preservation of DeFi Products, and interchain swaps for Elrond assets

Panther Protocol, who’s building scalable private infrastructure for the internet of blockchains, and Elrond, the internet-scale blockchain designed to bring a 1000x improvement in throughput and execution speed over existing decentralized networks, are proud to announce a new partnership that aims to bring interoperable privacy and compliance-friendly selective disclosure mechanisms to the Elrond Network.

Panther Protocol leverages zkSNARKs technology to allow Elrond DeFi user’s to deposit EGLD tokens, ESDT tokens, and other assets in Panther vaults. In return, they can mint fully collateralized private assets, or zAssets. This allows you to use these zAssets across DeFi applications.

ZAssets preserve the value of non-private counterparts but offer owners an extra layer which will protect their DeFi strategies and transactions. These privacy enhanced digital assets will also be able to flow between multiple blockchains through Panther’s privacy-first interchain DEX.

They will start with a feasibility analysis to create the infrastructure necessary for privacy on Elrond. Also, joint research is being done to provide private interchain swaps to Elrond.

“Our partnership with Panther is part of our ongoing goal to provide financial institutions and market actors with additional options for engaging with Elrond DeFi products in a fully compliant manner.”
Beniamin Mincu is the CEO of Elrond Network.

“Panther is on a mission to provide all Web 3.0 users with the complete set of data ownership, sovereignty and privacy options that encrypted decentralized networks can offer. We’re excited to bring end-to-end privacy to the Elrond Network and make it a part of the interoperable, private and compliance-compatible blockchain future we envision.”
Oliver Gale is co-founder of Panther and its CEO.

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