As a Lecturer
Panopto allows you to set up video assignment folders for your students. This will allow them to have a place to upload a video for an assignment.
You can learn more at Panopto's guide on video assignment folders.
You may also enable Panopto to use Canvas' built in Assignment tool.
As a Student
If your lecturer has created a video assignment folder you can record and upload videos with Panopto to that folder.
You can learn more about how to submit videos to an assignment folder in Panopto.
If you lecturer is using the assignment tool in Canvas you can learn more about how to submit Panopto videos using Canvas here.