NEAR Foundation Awards Panther Protocol Grant To Improve Privacy
Panther, the end-to-end privacy protocol helping to make DeFi regulation compliant has been awarded a grant by the NEAR Foundation.
Panther will receive $40,000 to help develop and deploy the protocol’s privacy solutions on NEAR’s Ethereum Virtual Machine.
“We are thrilled to support Panther Protocol’s mission to provide zero-knowledge assets to the NEAR ecosystem and beyond,” says Josh Daniels, part of the ecosystem grants team. “The NEAR Foundation embraces the reality of a multi-chain future and recognizes the importance of privacy to ensure retail and institutional trading strategies stay confidential yet compliant.”
Panther Protocol was created to enhance DeFi by making privacy available in dApps and protocols by default.
“We are pleased to partner with the NEAR foundation to establish shielded pools and other components of Panther’s privacy-preserving infrastructure on the NEAR blockchain, taking one more step towards an interoperable, private, and compliance compatible blockchain future,” says Oliver Gale, co-founder, and CEO of Panther, about the partnership.
NEAR and Panther agree that privacy is an essential human right. Panther has received a grant from NEAR to explore the development of open-source privacy infrastructure (Rust libraries, APIs, and tooling) needed for a native Panther deployment on NEAR. This includes the deployment of Panther’s privacy solutions on NEAR’s EVM, Aurora.
Due to the current architecture and high volume of Ethereum transactions that pushed gas fees to all-time highs, Near’s Aurora is becoming an intelligent choice for developers that are looking for 1,000x lower gas fees, 50x higher transactions per second, and 2 seconds finality.
Aurora solves the current issues plaguing Ethereum while preserving the development ecosystem value Ethereum has. These factors were critical for Panther to prioritize the development of its scalable privacy infrastructure on NEAR’s blockchain.
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