Panther, an end-to-end privacy protocol pursuing privacy restoration to Web3 and DeFi, and Shyft Network, a public protocol that builds trust and compliance into blockchain data, have announced a strategic partnership. The two will jointly work to advance privacy-enhancing technologies, mission-critical data attestations services, and data protection tooling.
As Panther strives to develop a truly private DeFi ecosystem, data sovereignty becomes increasingly necessary when designing the protocol’s features. The project places high value on privacy by default, and in user absolute autonomy and ultimate decision-making power in personal data disclosures.
Shyft Network, on the other hand, comes with special propositions that relate to those of Panther. From a traditional perspective, the two would be viewed as competitors. In this case, however, the pair are joining forces for the ultimate goal of protecting users from widespread surveillance and advancing privacy tech.
With the partnership, Panther Protocol will promote on-chain privacy of native assets on the Shyft Network. Essentially, the assets will be integrated with Panther as they move through various blockchains including Ethereum, NEAR, Polygon, and Elrond. This transforms them into privacy-enhancing digital assets known as zAssets.
“Shyft brings to the Panther ecosystem, the realization of trust providers, and combined with selective disclosures, which Panther brings to the Shyft ecosystem, the duality of authenticity and privacy is achieved, which is currently non-existent,” said Panther CTO and Co-Founder, Anish Mohammed.
Additionally, Panther will be deployed on Shyft Network’s Layer-one. In this way, Panther will benefit from the protocol’s business and government compliance alongside data attestation services. The collaboration, therefore, ensures institutional dark pools are both private and compliant. This significantly solves the challenges of front running and algorithm obfuscation to promote DeFi’s mainstream adoption.
Furthermore, the teams will collectively take part in technical collaborations and research on privacy-related technologies utilizing zero-knowledge proof systems.
“At our core, Shyft Network is committed to building bridges and solutions across chains and protocols that integrate innovative technology to make our interactions and transactions private and authentic. Through utilizing Panther’s next-generation dark pool technology for private assets and Shyft Network’s attestation and compliant asset infrastructure, we’re offering a one-two punch that will accelerate these essential services to ensure privacy, decentralization, and openness in DeFi. In doing so, we’ll provide anonymous solutions for growing issues like blinded trade front-running in DEXs,” said Joseph Weinberg, Co-Founder of Shyft Network.