Panvala is a donor-driven platform that helps fund the work that the whole Ethereum community depends on. You can think of it as a decentralized version of the Ethereum Foundation that runs on its own token. Details of Panvala’s goals and design are available in the Panvala Whitepaper.
In Panvala’s first batch of grants released on February 1, Aragon One earned 300,000 PAN for their work on the Voting Relay Protocol, a layer 2 protocol to scale token voting on Ethereum. Those tokens will be included in the initial token distribution when Panvala launches on the mainnet in August.
10,000,000 PAN have been set aside for Panvala Launch Partners, selected grant recipients who have committed to donate pan they earn or purchase from other grantees over the first two years of Panvala. Launch Partners receive voting power for fulfilling their pledge. This AGP proposes giving the Aragon Association permission to donate up to 2 million USD over two years to Panvala on behalf of Aragon One. The final amount will be chosen by the Aragon Association as they see fit.
Donations can be made by purchasing PAN from grant recipients, or by earning PAN for doing work that benefits the whole Ethereum ecosystem. Since Aragon and its associated teams already do significant work on Ethereum public goods, they can apply for grants for that work and donate the tokens they earn to fulfill the pledge. It is possible to fulfill Aragon’s Launch Partner pledge without spending any money from the Aragon Association’s treasury.
Voting tokens are released as the pledge is fulfilled. Either Aragon or the Aragon Association can decide to stop fulfilling the pledge at any point. The remaining token allocation will be forfeited at that point, but all tokens earned thus far will be retained.
In Panvala, token holders decide which grants are issued. It’s important for Aragon to be able to influence these decisions to ensure that the scaling and security work the Aragon Network depends on for its success can be prioritized. Putting these decisions as close to the teams building on Ethereum is what will set us on a path towards establishing Ethereum as the settlement layer for the world’s open financial system, with Aragon as one of its premier applications.
We look forward to continued cooperation between the Aragon and Panvala communities.
Founder of Panvala