DeFi privateness mission Panther raises $22M in 1.5-hour public sale
Panther Protocol, a privacy-enhancing know-how supplier for the decentralized finance (DeFi) business, has accomplished its public sale to proceed constructing privateness options for DeFi and Web3.
Panter introduced to Cointelegraph on Nov. 25 that it raised $22 million in its latest public sale of ZKP tokens, bringing the entire quantity raised to $32 million.
Starting on Nov. 23, the Panther Protocol public sale efficiently closed in just below 90 minutes, the Panther mission beforehand announced.
Launched in Q3 2020, the Panther Protocol is constructed utilizing zk-SNARKs, a brand new type of zero-knowledge cryptography applied for standard privacy-focused cryptocurrencies like Zcash (ZEC). The acronym “zk-SNARK” stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” referring to a state of affairs the place one can show possession of sure data with out revealing that data.
Building on a number of blockchains together with Ethereum, Polygon, Flare, Near and Avalanche, Panther is creating an interoperable privateness layer for DeFi and Web3. The protocol makes use of zAsunits, 1:1 backed representations of the underlying property providing customers advantages of personal transactions within the new asset sort.
As beforehand announced by Panther, the protocol’s public sale involvea 5% of the entire ZKP provide with “varying unlocking schedules.” 15% of the entire provide was bought by way of pre-seed, seed and three subsequent non-public sale rounds. According to Panther, the protocol has raised $10 million via non-public funding.
Some of the supposed traders that had been prepared to take part in Panther’s $22 million public sale have complained about not with the ability to proceed with fee.
“Shocking support on the Discord, was on the site for 90 minutes and wouldn’t let me make a single payment because the buttons didn’t work, then no response for an hour from anybody in the discord,” one supposed investor reported.
Button didn’t work however every thing else if you ship your particulars ID and footage works nicely via your cell phone. So the place is the justice now after we wait in line, registered KYC and all that issues and now we’ve no probability to purchase it! pic.twitter.com/b4IWR42eMk
— Maro Pagi (@MaroPagi) November 23, 2021
The Panther mission didn’t instantly reply to Cointelegraph’s request for remark.
Related: Polkadot-based privateness mission Manta Network raises $5.5M
Amid a serious rally on wider cryptocurrency markets, the DeFi business has continued booming this yr, with the entire worth locked throughout all DeFi protocols hitting a brand new file excessive above $270 billion in early November.
In line with DeFi’s rising recognition, business tasks have been more and more engaged on privateness options. According to Paolo Guida, head of investments for Blockchain Valley Ventures, privateness is the biggest problem stopping DeFi lift-off.