2021-11-2 21:29 |
Panther network, an end-to-end privacy protocol, and SupraOracles cross-chain oracle have partnered to bring cross-chain and privacy solutions to the decentralized finance (DeFi) industry. The two will jointly promote DeFi and bring in infrastructural developments necessary for a global audience. The collaboration will also empower users in addition to driving innovation and competition among developers.
Notably, SupraOracles was suitable for this initiative since its unique technology gives developers a suite of tools for creating, deploying, and managing real-time data applications. On top of that, the technology underpinning the oracle offers unrivaled performance, with great flexibility and vastness.
Furthermore, the visions of Panther Protocol and SupraOracles align since both venture into cross-chain operations. Blending privacy and interoperability in the DeFi ecosystem shifts users and developers into a new and revolutionized DeFi model.
As Panther co-founder and CEO Oliver Gale states,
“The SupraOracles partnership is one grounded in the need for low latency, flexible and cross-chain oracle services. As DeFi scales into high-value retail user and institutional use cases privacy, speed, security, and compliance will become the keywords of successful teams.”
SupraOracles will have the role of generating data feeds that specifically cater to Panther’s Prover-Verifier mechanism, a significant part in the zero-knowledge attestations system. Additionally, the Multi-Helix Ledger (MHL) is highly efficient in moving and getting hold of value between chains without compromising authenticity, security, and speed.
Moreover, Panther will use the trusted data provider’s capabilities in the InterChain DEX for cross-chain alignment and data consistency. Oracles provide valuable pieces of information including price fees, and complex financial information among many others.
SupraOracles Co-founder and CEO Joshua D. Tobkin add:
“Panther Protocol’s unique value proposition is its ability to appeal to legacy financial institutions that want to protect user privacy while still abiding by regulatory requirements. SupraOracles is also built to bridge the gap between DeFi and traditional financial institutions. So, our projects are not only compatible from a technical perspective, but also agree on the importance of welcoming TradFi into DeFi.”
Panther’s main role is to promote privacy in Web3 and DeFi while providing ways for financial institutions to remain compliant in digital assets market participation. The protocol leverages crypto-economic incentives and zkSNARKS technology to provide users with privacy-enhancing digital assets known as zAssets. These assets can be minted by moving digital assets from any blockchain to Panther vaults. Users can then move their zAssets across blockchains with privacy ensured through a first Interchain DEX and private metastrate.
SupraOracles, on the other hand, provides real-world data to public and private blockchains. This automates, eases, and secures the future of financial markets through interoperable smart contracts. The oracle’s goal is to bridge traditional capital markets and the Web 3 ecosystem.
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