Source : coinquora.com
- Panther Protocol enters into a strategic partnership with Velas.
- The integration will help provide a fast private DeFi experience for users.
Panther Protocol, the end-to-end privacy solution building the privacy layer for Web3 and Decentralized Finance, enters into a strategic partnership with Velas — an EVM/eBPF hybrid chain providing up to 75,000 TPS for decentralized applications (dApps) that require lightning speed and scale.
As a Solana blockchain-based platform, Velas aims to create and integrate world-changing technology products and services to improve people’s lives globally. For this reason, Panther is bringing privacy-preserving infrastructure to that high potential network.
According to the announcement, Panther Protocol will facilitate the cross-chain exchange of private Velas assets through its privacy-preserving interoperability features.
Furthermore, the team highlighted that this will follow the integration of Panther zAssets into the Velas wallet. Thus, it will help provide access to on-chain privacy for any Velas users. As a result, clients and customers will benefit from this additional layer of privacy.
Moreover, Velas is building an open-source blockchain of services and products including Vault, and Wallet, Account, allowing users to have a seamless experience and low-cost transactions. In addition, the Velas platform aims to connect centralized solutions like UX and speed, with the new paradigms of decentralized solutions.
Following this, both companies’ executives expressed their excitement regarding the partnership. Oliver Gale, CEO at Panther Protocol says,
The integration between Velas and Panther Protocol enables the advancement of privacy and data protection tools. We have a big vision for the future of DeFi and Panther fits into that vision as a partner providing decentralized, trustless privacy and interoperability to this burgeoning ecosystem.
Also, Shirly Valge, COO at Velas emphasized that the firm is excited to see how this partnership between the two companies can move privacy and data protection to a whole new level.
“Panther Protocol can be perfectly integrated into the Velas Wallet and cross-chain to make Velas assets private”. — says Shirly Valge.
Note that Panther is placed to bring private transactions over to the Velas network. Meanwhile, Velas’ native assets will be profitable to Panther’s user base and liquidity, increasing Panther’s Multi-Asset Shielded Pools. What’s more, Velas’ users will get the chance to also enter Panther’s staking program and governance to further decentralize the company protocol.