Pantos Project Update: PAN ERC20 support is here and further steps

We are happy to announce that after extensive internal testing PAN is now available as an ERC20 token. The groundwork for this has been laid by integrating withdraw and deposit functionality for supported tokens running on the ERC20 standard on the Bitpanda platform in mid September 2018.

You can now withdraw PAN to any other ERC20 compatible wallet or platform, send it to other Bitpanda users for free or deposit PAN back to your Bitpanda account.

  • 616 BTC were participated during the Technology ICO phase

The Pantos Technology ICO was announced on the 7th of March 2018 and it started just two weeks later, on March 21st 2018. After 48 hours we reached 20 percent of our hard cap. On the 17th of April 2018 the Pantos Technology ICO ended successfully with 616 BTC contributed. 7,821 unique participants took part in the Pantos Technology ICO. Additionally, over 30,000 users claimed the free Airdrop.

  • Distribution of PAN to Technology ICO participants and Airdrops claimers

The first step was for us to distribute PAN tokens to our community. 7,821 unique participants took part in the Pantos Technology ICO and were credited PAN according to how much in BTC equivalent they participated. 10 Million PAN tokens were overall available for the airdrop.. These PAN tokens were successfully credited to 30,303 users who claimed the free Airdrop, equalling 330 PAN per user. The price of one PAN token was roughly 0,01 Euro at distribution.

  • Growing the Pantos community

During the last six months we were able to substantially grow the community around the Pantos project. The official Pantos Facebook page now has over 3,000 likes and 3,200 subscribers. Already 3,200 followers are interested in the official Pantos Twitter account. On the official Pantos Reddit we were able to attract over 500 subscribers so far. The official Pantos Telegram group now consists of over 3,500 members, with discussions and a regular information exchange with the Pantos team on a daily basis. In addition to our own efforts to grow the community on social media, there are also a couple of unofficial groups and channels on social media and especially Telegram, which are run by enthusiastic users and people interested in Pantos.

  • Two out of four TAST Technical White Papers published

The research phase kicked off immediately after the end of the Pantos Technology ICO. On May 30th we published the first TAST Technical White Paper. In this paper, we explored which blockchains and technologies are suitable for it. In addition we identified the research goals and challenges. On August 30th we published the second TAST Technical White Paper. Its main goal was to solve the cross-chain proof problem. To solve this problem, we described the concept of claim-first transactions. We also highlight various challenges in implementing claim-first transaction and propose mitigation strategies.

  • PXTT protocol for pull-based cross-chain token transfers

While working on the scientific aspect of TAST, the Pantos project also started working on the prototyping of the technology. In accordance to our scientific findings we started working on a pull-based cross-chain token transfer protocol called PXTT. The PXTT protocol will allow the transfer of tokens across blockchains, given certain smart contract capabilities. These transfers are currently decentralized to a high degree, i.e., only certain special cases require a central authority. In the long term goal of TAST, we would like to reduce the requirements of these transfers to the blockchain capabilities, and decentralize this process completely.

We submitted a paper describing the PXTT protocol — our first concrete protocol for cross-chain token transfers — to Ledger journal. The turnaround time is around eight weeks, so we expect hearing back from them some time in October. In the meantime we are already working on an improved and extended version of the PXTT protocol. This next iteration will reduce protocol complexity by removing the requirement for a second token type introduced within PXTT. This will not only ease implementation but reduces overall complexity, thus increasing security.

  • PAN Trading Integration on Bitpanda

PAN trading (buying and selling) successfully started on July 26th 2018 on Bitpanda. Users who participated in the Technology ICO were then able to freely sell their PAN or buy more of them. Users, who missed the Technology ICO, were then able to buy or sell PAN.

The above chart shows that since trading integration started on July 26th PAN was able to hold its value after an initial surge. The ICO price was roughly 0,01 Euro, shortly after trading start an all time high was reached at around 0,0668 Euro. The lowest price so far was 0,0276 Euro. So even if particpants of the ICO sold at this point they would still have a price increase of x2,76.

  • PAN ERC20 integration on Bitpanda

After extensive testing, we are happy to announce that PAN is now an ERC20 token, which can freely be withdrawn or deposited to Bitpanda and any other ERC20 compatible wallet or platform. As described in the first TAST Technical White Paper, we evaluated that Ethereum will be the first blockchain on which PAN will run. Thus, in its first iteration PAN is now an ERC20 token.

The next steps for the Pantos project include:

  • Further Research and Proof of Concept

Work has started on the third out of four TAST Technical White Papers. The core contributiong of the third Technical White Paper will be describing the refinement of the PXTT protocol, removing the necessity for a dedicated reward currency used in cross-blockchain token transfers. The fourth Technical White Paper is planned to provide a proof of concept for these transfers, summarize the findings within TAST to date, and describe the steps necessary for applying the found techniques to live blockchains.

  • Additional Withdrawal Integrations

Based on our scientific findings we will evaluate on which blockchain PAN will be integrated after the Ethereum blockchain. We will communicate updates on this matter in future blog posts.

We are looking for talented developers

Here at Bitpanda and Pantos we are constantly looking for talented people to join our amazing teams. If you are interested, take a look at our career page if you want to work with us as for example Blockchain Developer (m/f) or Python Developer (m/f) and shape the future of the cryptocurrency industry.

About Pantos

As the first multi-blockchain token system, Pantos aims to bring blockchain projects closer together, improve communication between developers, researchers and users, and set innovative standards for cross-chain token transfers.

The goal is to serve as a lighthouse project in an increasingly fragmented blockchain space. With multiple blockchains serving all kinds of different purposes, Pantos is seeking to allow these projects to talk to one another in a standardised way. This will speed up innovation by creating a link between blockchains which then can scale together.

To get the latest news on the progress of the Pantos project you can follow our official channels: