Panther Protocol raises more than $22 million in public token sale

Panther Protocol, the developer of a privacy-preserving DeFi protocol for users, raised more than $22 million in a public token sale.

According to the press release, the token sale closed in 90 minutes. The total funding raised by the project reached $32 million.

In a blog post, the team said it is currently focused on ZKP token-distribution events and on listing the asset on exchanges. This is expected to occur in early December.

The Panther Protocol solution uses zkSNARK technology and operates on Ethereum, Polygon, Flare, Songbird, NEAR and Elrond blockchains.

“We are at a point in the history of privacy where we reconcile its dual nature. The Panther Protocol has managed to provide both privacy and authenticity by combining zero-knowledge proof systems with selective disclosure,” said Panther co-founder Anish Mohammed.

The startup’s offering for developers includes an API, SDK and customizable integrations. This will allow DeFi projects to implement privacy features in their applications without needing a specialized engineering team, Panther says.

“The idea is to create by default a private decentralised ecosystem that unlocks value currently fragmented across blockchains,” the company said.

Earlier, Neon Labs—the blockchain startup behind the Ethereum Virtual Machine (EVM) on Solana—raised $40 million in a private token sale.

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