Panther and Bumper are happy to announce their strategic partnership that seeks to benefit retail and institutional users.
As per the announcement, the partnership will provide DeFi users with a safe, seamless, and private DeFi user experience, valued propositions at Panther. Through the partnership, Bumper users will enjoy a private by default experience. These users will also be able to disclose transactional data with third parties whenever they wish selectively.
Commenting on the partnership, Oliver Gale, CEO at Panther Protocol, stated:
“Bumper provides downside protection to crypto-assets, Panther provides privacy – this partnership simply makes sense from a composable DeFi world view. We are excited to enhance and prepare Bumper for institutional capital seeking price protection and confidentiality.”
In addition, Panther hopes to create workflows that will allow users to get the most from the DeFi marketplace while also enjoying Bumper protocol’s volatility protection system. Notably, this will be done while staying compliant with the Know Your Client (KYC) and Anti Money Laundering regulations (AML).
The partnership has opened up the two to various possibilities, including protecting Panther’s privacy miners from market crashes. By doing so, Panther miners will reap more rewards and suffer fewer risks for their works in providing assets to Panther shielded pools.
Gareth Ward, COO at Bumper, added:
“We see Panther as a key building block for the future of crypto, a game-changer in bringing privacy and compliance together, much in the same way Bumper will change the way people manage risk in the future.”
Panther is an end-to-end privacy protocol connecting blockchains to restore privacy in web 3.0 and DeFi while providing financial institutions with a clear path to participate in digital asset markets compliantly.
Panther was created to provide users within the DeFi space with fully collateralized privacy-enhancing digital assets while at the same time leveraging crypto-economic incentives and zkSNARKs technology.
Panther’s mission is to accelerate the development of the DeFi and Web3 ecosystems. The project also seeks to provide dApp builders and end-users with privacy and risk reduction features that can open the floodgates for mainstream adoption of decentralized applications.
On the other hand, Bumper is a DeFi protocol, a decentralized market for on-chain asset price volatility. The protocol was created to protect users against market crashes by allowing users to set a floor price to protect their assets despite the market’s direction.