This past Monday, the Panvala Awards Committee met to recommend a slate of grants for the first batch of Panvala Token Grants. Today at noon EST, the first batch ends and the recommended token grants will be awarded. This milestone is cause for celebration, but we will quickly get to work to prepare for Batch Two, which will release 2,029,962 more tokens from the token capacitor.
Twelve applications were received for Panvala Token Grants. Initially, the token requests totaled 2,665,000 PAN, which exceeds the 2,119,836 PAN available in Batch One. We updated the applicants on the status of the competing grant applications, and they agreed to lower their requests to allow all grant applications to receive their tokens.
The application process attracted a wide range of efforts to make Ethereum safer. Gnosis is working on Gnosis Safe Recovery to build user friendly account recovery systems for contract-based wallets. Aragon One and Level K are solving common problems for Ethereum developers to make it easier to innovate on Ethereum without taking on the burden of securing a custom codebase. Asseth and Hashing It Out are spreading knowledge about security throughout our ecosystem. Bounties Network is taking on an interesting experiment to let the public drive the distribution of smaller security-related bounties.
There are also grant applications from the teams that have been helping to govern Panvala so far. The Panvala Mark Council helped demonstrate our governance process by issuing a demo Panvala Mark, and they’ll keep working to advise the Panvala Launch Team and the broader community as we iterate on our processes and start reviewing the first Panvala Mark applications. The Panvala Awards Committee has been by our side helping to make sure that the token grants that get issued can rally the support of the broader Ethereum ecosystem.
Together, these grant recipients will demonstrate that it’s possible to build sustainable incentives to cooperate from scratch. We aim to earn the support of everyone who wants to make Ethereum safer. Some of those supporters will donate tokens back into Panvala to keep the grant system going. Other supporters won’t touch tokens at all, but as Panvala Allies, they’ll bring their business to merchants and companies that make donations to earn their loyalty.
Applications for Batch Two of Panvala Token Grants are now open until April 5. The Panvala Awards Committee will review these grant applications before May 3, the end of Batch Two. Grants awarded in these batches will be included in the initial distribution of tokens when Panvala launches on mainnet in mid-2019.
View the grant review packet provided to the Panvala Awards Committee. You can watch the video recording of their meeting below.
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