Pantos AMA Session With BeInCrypto

Hi Everyone! Welcome to another BeInCrypto AMA Session!

Today we welcome Marsel Nenaj (@max_pantos) who is Head of Communications at Pantos.

COMMUNITY: Here is how things will work. I’ll have 10 questions for him. After that, our chat will be open for you to drop your questions so that he can pick up 5 out of all the questions you asked. Good luck to you all!

Let’s get started >>

I would like to ask you something general to kick things off, so please provide some personal background as well as some references you guys looked at before creating Pantos.

Hey everyone, thanks for having me today. Let me quickly introduce myself; I joined Bitpanda in 2020 after being part of the community for over two years and being active as a moderator. Initially, I was responsible for the community management at Bitpanda and built up the community team from scratch. Last year I joined the Pantos team full-time to help with the go-to-market. 
Now, a quick introduction to Pantos. The project started in 2018 as R&D in collaboration with TU Wien and later TU Hamburg, two of the best universities in Europe. In the last few years, we have worked on several approaches to achieve blockchain interoperability and released various prototypes demonstrating our resaltfinsults. The product is refined based on all our research insights and is highly optimized to be as secure as possible.

Is Pantos suitable for all levels of crypto enthusiasts (from newbies to expert guys)? 

Yes, the web app has been designed to be intuitive and easy to use. Our website also provides detailed user documentation in case there are any open questions. However, the feedback we have received so far has been overwhelmingly positive. We are currently working on more advanced features and tools for more advanced users and developers, like the Multichain Token Creator, which will be as easy to use as our web app and enable anyone to create multichain assets within minutes. The release is planned for Q2 this year.

Amazing. On top of that, you call yourselves a ‘multi-blockchain token system’. Can you please briefly describe how you plan to establish the first true token system like that?

With our Public Beta, we also announced PANDAS, our Multichain Token Standard. (Pantos Digital Asset Standard) It is one of our initiatives to promote blockchain interoperability, making adopting blockchain technology tremendously easier. We eliminate the need to decide on a single blockchain or depend on a bridge. With Pantos, you can get easy-to-implement multi chain capabilities for any token. 

Would you mind talking a little bit more about some killer features we can see in the Pantos ecosystem? Maybe those resources that really make you stand out!

I personally think what makes Pantos really special can be described in just one word: Security. We have been around since 2018 and our research efforts have been tremendous, we have published dozens of research papers on interoperability and closely followed the progress of the industry. Last year it became clear that, many projects rushed into the market without properly testing their solution, which resulted in massive hacks. We never wanted to make the same mistake and have put our efforts into going through many approaches and test them for feasibility. But Security alone is not enough, of course it needs to be convenient for users and even more importantly it needs to empower developers to build on it. So this is what we have been focusing a lot. What we have today, is a refined and sophisticated solution, that is reliable and solid. Furthermore, we are challenging today’s dapps by introducing a vastly more user friendly interface than most bridges out there. But don’t take my word, try it yourself and let us know you think. 

Fine! I think we can already try the BETA, right? What are some of the available options at this moment (in terms of in-app activities)?

The beta already offers all the core functions of the protocol, in a highly optimized and super easy to use webapp. So of course you can send PAN, and other supported tokens across any of the seven supported chains with easy. We have worked with a specialized UX agency to create a next-level experience for users. We also offer the possibility to wrap existing tokens to a multichain asset, so that you can enjoy the same flexibility also for your ETH or BNB. And in the near future we will enable this option for any arbitrary token, so you will be able to wrap any token to a multichain token.

Great. Now it’s time to learn about partnerships since they are an essential part of the whole strategy for any project. Can you please name some of the latest partnerships you guys made? What about the importance of them and what do you expect to get from them aiming for Pantos’ growth?

Of course, strong strategic partnerships are essential for the success of the project. We are really lucky to have two strong academic partners on board, namely the TU Wien and TU Hamburg, which provide our team with some invaluable resources. For example, Matteo Maffei who is one of the most renown blockchain security researchers worldwide and part of the Pantos team. However, we are also expanding to new partners in the DeFi space, especially crypto projects which want to utilize the benefits of standardized and native multichain tokens, as well as institutional customers who want to tokenize real world assets.

That’s right. It’s time to introduce your native token to our community! What do you have to say about $PAN in terms of tokenomics and how does it fit your strategy?

PAN plays a vital role in the ecosystem. It acts as a universal gas token for all chains so that you can pay for on-chain and cross-chain transactions with PAN. Furthermore, it is required to deploy multichain tokens using Pantos. Service and Validator Nodes also need to provide PAN to ensure safe transfers. The PAN token has various use cases within the network. However, not all tokenomics are set in stone yet, as we are still refining the system for the mainnet launch together with our research teams.

I bet some of our members are curious about how to get some $PAN now 🙂So where can our community buy such tokens?

PAN can currently be traded on Bitpanda, Bitpanda Pro, HitBTC and since a couple of days there is also a new Uniswap v3 pool (although it is still quite small and community-driven). 

What do enthusiasts/investors can expect when it comes to future plans? What do you have in mind for Pantos in the next few weeks or months?

For this year, we will release the Multichain Token Generator and publish the service node software for everyone interested in running an instance, alongside new features and chains. We are also working on extending our reach by joining forces with industry partners.

Awesome, that’s it. I’m quite sure we’ve covered all the main topics today. Could you please share all the links to your Social Media channels so that our community can get to know Pantos a bit better?

AUDIT and security are important for trust and reliability for users and investors. Did your project audited? Can you share your results?

We haven’t had our audits yet, but several are planned before the mainnet launch. As I mentioned earlier, we also have Blockchain Security experts in our research team who help us improve the codebase and ensure there are no vulnerabilities in the protocol. Our future audit results will be available on the website.

How many blockchains does your project support? What plans exist for integrating additional blockchains?

We are currently supporting seven chains: Ethereum (Goerli), BNB Chain, Avalanche, Polygon, Fantom, Celo and Cronos. We will soon integrate Aurora and our team is also working on other non-evm chains which will likely be integrated later this year.

Which region do you primarily focus on? Do you have a global expansion plan, do you intend to create strong communities?

Pantos is built around core crypto values. It aims to be decentralized, permissionless and open. As such, we want Pantos to be available to anyone worldwide. Through our efforts to create a more seamless experience for users and developers across many chains, we think we can make the whole space more accessible. We have many plans for the upcoming weeks and months, so stay tuned you will hear a lot from us! 🙂