Panther Protocol Partners with Songbird – Flare’s Canary Network – to Accelerate Privacy Adoption in DeFi
Today, Panther Protocol announced that its Flare partnership will be extended to Flare Canary’s network, Songbird. Flare is the world’s first full-fledged Turing FBA (Byzantine Federated Agreement) network, and Panther is building the interoperable DeFi and Web3 privacy layer, with the goal of making privacy a standard, not an afterthought.
Flare began its mission to ‘Unlock the Value’ inherent in the 65% of blockchains that do not have native smart contracts by bringing, for the first time, true trustless use of those tokens with scalable smart contracts and by integrating the Ethereum virtual machine in a scalable environment. manner.
Blockchain interoperability is undoubtedly a marked trend in our industry, and Flare takes a unique approach by incorporating larger blockchains that require smart contract and interoperability capabilities.
Flare and Songbird started this mission with, Doge,, Stellar and Algorand. Both parties said they aim to bring new privacy capabilities and features to these projects with this collaboration.
About the Partnership The Flare and Panther teams shared their enthusiasm for the many areas of opportunity between Panther and Songbird. For this reason, in addition to defining several ways for Flare’s Songbird users to benefit from the privacy features and Panther’s to receive support from Flare Mainnet and its Canary network. The partnership can propel Panther to its milestones. The partnership agreement also serves to support the development of other privacy projects and features by Panther on Songbird.
Building a Privacy Ecosystem Songbird will integrate Panther’s shielded pools into its Virtual Machine (EVM) to enable on-chain privacy for its users. Panther will deploy its privacy preservation infrastructure on Songbird for code testing.
As a result of these efforts, Panther users will be able to benefit from private transactions through Songbird. This is expected to increase the user base and TVL potential of Panther’s protected pools.
Songbird users will be included in Panther staking and governance. They will also be able to benefit from private DeFi within the network, access selective disclosures for both retail users and institutions, and gain early access to Panther’s KYC / AML zero-knowledge solution on the side. Institutional Songbird.
Upon finalizing the deal, co-founder and CEO Oliver Gale said, “From day one, there was a clear alignment between the founders of Panther and Flare Network around the need for privacy, compliance, security and scalability in blockchain ecosystems, and in particular those relating to institutional DeFi. In Flare and Songbird, we see great ecosystem partners, innovative technology, and clear action-oriented plans for mass adoption. “
Hugo Philion, co-founder and CEO of Flare and Songbird added
“Songbird was launched to be a test bed for Flare and the most revolutionary decentralized technologies. So we’re excited that Panther is leveraging its zkSNARK crypto and cutting edge asset blending technologies to deliver the KYC and AML compatible privacy solutions that DeFi needs to take a giant leap forward. Stable coins, utility tokens, and NFTs can now be held and traded confidentially while remaining compliant, returning sovereignty to the user.
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