Make Ethereum Scale: Panvala Token Grants for Scaling Projects
Panvala Token Grants are available for teams doing work to scale Ethereum at its core on Layer 1, or above on Layer 2.
Ethereum is the hub of the world’s decentralized, open financial system. Ether is its reserve currency. Since 2014, more and more people have been inspired by the vision of a world computer we can all trust, and it’s been incredible to see the community of builders and believers grow.
That growth has been facilitated by new incentives to cooperate. At their core, each of these new incentive systems shares the idea that tokens can powerfully coordinate cooperation in communities that share a vision of what the future looks like.
This model has been incredibly successful for launching brand new systems that solve new problems. But when the time comes for us to improve existing systems, things fall apart. We’ve watched as Bitcoin, the decentralized network with the largest community of supporters, struggles to implement improvements that keep its vision alive. And today, Ethereum is at a crossroads. Reasonable doubts that Ethereum can fulfill its mission are now widespread, and competing systems grow closer to production each day.
The teams behind Polkadot and Cosmos are great members of the Ethereum community, just like the teams behind Prysmatic Labs and Connext. They’ve built systems to address the clear need for scalable blockchain systems that developers across our ecosystem are begging for. But because we lacked an economic system to incentivize them to cooperate and build on Ethereum, they’ve funded their work by launching separate blockchains with their own tokens instead. Systems with overlapping visions but separate tokens will ultimately divide our community. If we allow poorly defined property rights to lead us astray, we will make less progress as separate communities than we would make together as one.
The Ethereum community will not go down that path. Instead, we will solve the incentive problems that lead teams to compete rather than cooperate. We will unite our community instead of watching it divide. With your help, Panvala will organize the people who believe in the vision of Ethereum so we can support the workers who are bringing that vision to life.
Today, we’re opening applications for Panvala Token Grants to teams doing work to scale Ethereum at its core on Layer 1, or above on Layer 2. Email us for assistance with your application, and submit your application by April 5. Batch One of token grants was released on February 1 to teams including Gnosis, Aragon One, and Status. Batch Two has 2,034,798 PAN tokens available for grant recipients. These tokens can be used to vote on future batches of token grants or stake on Panvala Mark applications to show that you’re willing to lose tokens if security flaws are found in your smart contracts. But the primary use of Panvala tokens is for donors to buy tokens from workers and deposit them back into the system as donations for future grants.
We want Panvala Allies who believe in the vision of Ethereum to donate tokens to support our incentives to cooperate. But we don’t need your money—we need your power. Panvala Allies make donations happen by being loyal to the companies, merchants, and individuals who donate to the system. These donors replenish the limited tokens in Panvala’s token grant system to earn your loyalty.
Ethereum does not fund workers by inflating ether, the way networks like Decred and EOS do. This is a strength, not a weakness. Ethereum’s strongest asset is not our code: it’s the community of people who have been drawn together from all corners of the globe to build systems that return power from middlemen and rentiers to as many people as we can reach. When we organize our community, we will discover that there is more value in our cooperation than we could ever harness with inflation.
Together, we will fulfill the vision that brought us all together in the first place. We will make the Ethereum vision safer by scaling the network to perform its role as the hub of the world’s decentralized, open financial system. We will continue to support that vision by making sure the code that runs this new financial system is secure, and does what developers say it does. Our work will not stop when the vision of Ethereum becomes real—there are more problems facing the world that can only be solved by organized communities.
Let’s make Ethereum safer, then find out what we’re capable of.