Privacy-Preserving Panther Protocol Joins Forces with Multi-Chain AMM Vegaswap

by
Altcoins
Privacy-Preserving Panther Protocol Joins Forces with Multi-Chain AMM Vegaswap

Privacy-preserving Panther Protocol recently inked a partnership with Vegaswap, an automated market maker (AMM) protocol with multi-chain support.

Panther Partners with Multi-Chain AMM Vegaswap

For the uninitiated, Vegaswap is an intuitive, easy-to-use AMM that benefits from its multi-chain support to provide users with a wide variety of DeFi and cross-chain applications. In addition, Vegaswap enables seamless token earnings via customizable liquidity pools (LPs), dynamic pricing, and other innovative features.

Vegaswap places focus on capital efficiency and makes life easier for liquidity providers by creating provisions for unique smart pools, providing analytics, and mitigating impermanent loss with adaptive spread. This way, LPs are ensured they get the maximum profit on the liquidity they provide with minimal risk.

Commenting on the development, Oliver Gale, CEO, and co-founder of Panther Protocol said:

“Vegaswap solves the issue of being able to trade assets from different blockchains in a DEX. It offers a global DeFi marketplace supporting cross-chain transactions. It is a necessary development in the DeFi space.”

He added:

“The DeFi ecosystem ($71t USD) provides transaction audit capabilities but is limited when it comes to protecting user confidentiality – DeFi cannot survive without confidentiality – Privacy enables confidentiality. The integration and partnership with VegaSwap, its attributes and other technology areas as well having Vegaswap as a Privacy Miner will lead to the modification of data to mask sensitive information of all its users.”

A Mutually Beneficial Partnership

As alluded by Gale, Panther Protocol enables end-to-end privacy for DeFi-based applications by providing users with fully collateralized privacy-enhancing digital assets, leveraging crypto-economic incentives, and using the zkSNARKs technology.

Further, Panther Protocol allows users to mint zero-knowledge zAssets by depositing digital assets from any blockchain into Panther vaults.

Vegaswap CEO, Ben Cortes, said about the partnership:

“We are very keen to work with Panther to guarantee privacy in our AMM marketplace. We have big ambitions and recognise that privacy will be a key part of the DeFI sector going forward. With Panther we will be able to transact across chains with privacy.”

Notably, the partnership will see Vegaswap list the Panther Token $ZKP on the exchange while Panther will add Vegaswap into its Treasury Management. Besides integrating into the Vegaswap platform and MetaMask API, Vegaswap will function as a Privacy Miner for Panther.

“We see ourselves working very closely with Panther and look forward to the opportunity,” Ben concluded.

Aisshwarya Tiwari

Aisshwarya is currently working as the Chief Editor at crypto.news and holds more than 4 years of experience in the digital assets industry. He holds an undergraduate degree in Commerce with Honours and a post-graduate diploma in Liberal Studies. Before entering the crypto industry, Aisshwarya worked as an SAP Consultant for a global IT firm. He also cleared the CFA Level 1 exam before pivoting to the crypto industry due to its novel and exciting propositions.