Panther Protocol Expands Its Partnership With Flare To Include Songbird — Flare’s Canary Network

Reading Time: 3 minutes

Panther Protocol expands its partnership with Flare to include Songbird – Flare’s Canary network.

Flare is the world’s first Turing-complete FBA (Federated Byzantine Agreement) network. Built 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 usage of those tokens with scalable smart contracts and integrating Ethereum’s Virtual Machine in a scalable way.

Blockchain interoperability is a hot topic right now, and Flare is taking a unique approach by going straight for the older, bigger blockchains that need smart contracting and interoperability capabilities. Flare and Songbird are kicking things off with Ripple, Litecoin, Stellar and Doge. Bringing new capabilities (and privacy features!) to these projects is big, and we’re thrilled to be working with Flare / Songbird.

Songbird will integrate Panther’s Shielded Pools into its Ethereum Virtual Machine (EVM) to enable on-chain privacy for its users. The team at Panther will deploy its privacy-preserving infrastructure on Songbird for code testing.

Thanks to these efforts, Panther users will be able to benefit from private transactions over Songbird. In turn, this will dramatically increase the user base and TVL potential of Panther’s Shielded Pools.

Songbird users will be included in Panther’s staking and governance. They’ll also be able to benefit from private DeFi within the network, access selective disclosures both for retail users and institutions, and enjoy early access to Panther’s KYC/AML zero-knowledge solution on Songbird’s Institutional side.

Overall, a major win-win scenario for privacy and interoperability in DeFi and Web3

Upon finalizing the agreement, Co-Founder and CEO Oliver Gale said: “From the first day, there was 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 to mass adoption.”

Hugo Philion, Co-Founder and CEO at Flare and Songbird added, “Songbird has launched to be a thriving testbed for the most ground-breaking decentralised technologies. So we are thrilled that Panther are leveraging their zkSNARK cryptography and state of the art asset mixing technologies to deliver the privacy solutions that DeFi radically requires to make a giant leap forward. Stablecoins, utility tokens and NFTs can now become infused with privacy, giving sovereignty back to the user.”

Songbird is the Canary network for Flare, which is an operational blockchain with a defined token supply, similar to Polkadot’s Kusama network. Innovations and new dApp launches will happen first on Songbird and can then be rolled out on Flare after testing. This means that Songbird will often have more advanced features than Flare. Post Flare launch, Songbird is intended to be a long term network for testing governance led changes to Flare but can take its own path set by its own token holder mediated governance. Songbird has demonstrated phenomenal growth, having only existed for 8 weeks, it has already processed over 2.3M blocks and registered over 222K addresses.

Want to learn more about Songbird and Flare?

Panther is an end-to-end privacy protocol connecting blockchains to restore privacy in Web3 and DeFi while providing financial institutions with a clear path to compliantly participate in digital asset markets.

Panther provides DeFi users with fully collateralized privacy-enhancing digital assets, leveraging crypto-economic incentives and zkSNARKs technology. Users can mint zero-knowledge zAssets by depositing digital assets from any blockchain into Panther vaults. zAssets flow across blockchains via a privacy-first interchain DEX and a private metastrate. Panther envisions that zAssets will become an ever-expanding asset class for users who want their transactions and strategies the way they should always have been: private.

Want to learn more about Panther?

Source: https://www.blockleaders.io/panther-protocol-expands-its-partnership-with-flare-to-include-songbird-flares-canary-network/