DeFi privacy project Panther raised $22 million in a 1.5-hour public sale

Panther Protocol, a privacy enhancement technology provider in the decentralized finance (DeFi) industry, has completed a public sale to continue to build privacy solutions for DeFi and Web3.

Panter announced to Cointelegraph on November 25 that it had raised $22 million in the recent public sale of ZKP tokens, bringing the total amount raised to $32 million.

Starting on November 23, the Panther Protocol public sale ended successfully in less than 90 minutes. The previous Panther project Announce.

roll out In the third quarter of 2020, the Panther agreement was constructed using zk-SNARKs, which is a A new form of zero-knowledge cipher Implemented for popular privacy-centric cryptocurrencies, such as Zcash (Jersey). The acronym “zk-SNARK” stands for “zero-knowledge succinct non-interactive knowledge argumentation” and refers to the situation where it can be proved that the possession of certain information is not disclosed.

Based on multiple blockchains such as Ethereum, Polygon, Flare, Near and Avalanche, Panther is developing an interoperable privacy layer for DeFi and Web3. The agreement uses zAssets, and the 1:1 support of the underlying assets means that it provides users with the benefits of private transactions in new asset types.

As before Announce According to Panther, the public sale of the agreement involves 5% of the total supply of ZKP and has a “different unlocking schedule.” 15% of the total supply is sold through pre-seed, seed and subsequent three rounds of private sales. According to Panther, the agreement has raised $10 million through private funding.

Some hypothetical investors willing to participate in the Panther’s $22 million public sale complained that they could not continue to make payments.

“Shocking support on Discord. I stayed on the site for 90 minutes because the button didn’t work and I didn’t let me pay. Then no one in the discord responded within an hour,” a hypothetical investor Report.

The Panther project did not immediately respond to Cointelegraph’s request for comment.

related: Manta Network, a privacy project based on Polkadot, raised $5.5 million

In the context of a sharp rebound in the broader cryptocurrency market, the DeFi industry has already Continue to be hot this year, The total value locked in all DeFi agreements hit a record higher than US$270 billion At the beginning of November.

Source: DeFi Alpaca

With the increasing popularity of DeFi, industry projects have Increasingly committed to privacy solutionsAccording to Paolo Guida, Head of Investment at Blockchain Valley Ventures, privacy is maximum The challenge to stop DeFi from taking off.