DAppNode has to decide which projects it wants to support for them to receive matching funding in PAN tokens during Gitcoin Grants. Read how it works in this panvala post
First: what is Panvala and how does it work?
Quick recap: Panvala is a project incubated by Consensys that tries to fund public goods by emulating the Bitcoin issuance model:
- Bitcoin rewards with magical internet money to those who contribute to its security by mining.
- This internet magical money (BTC) has value because some people want to HODL it - they sustain the price.
What if, instead of rewarding people for mining, we rewarded people to work on public goods and we gave them ANOTHER kind of internet magical money (PAN)?
- People receive PAN tokens for their work.
- People who want to fund public goods buy and HODL these tokens - sustaining the price as well.
Now we just need to figure out how to decide what is a public good and needs to receive money. Who gets to decide?
- If you HODL tokens… yourself. Aaaand the circle closes.
The governance of who decides who gets PAN
DAppNode holds PAN. We could sell them and and get a small injection of capital (wouldn’t make much of a difference to the life of the project at this point) or we can use them to decide which projects will receive matching donations.
@alexvinyas and @JordiMorris proposed to use these tokens to ensure DAppNode is “whitelisted” to receive matching donations in PAN, but also to “whitelist” projects that are doing great work in decentralizing infrastructure or projects that DAppNode users find useful and consider public goods.
So, considering DAppNode as the first project that the DAppNode pool will support… which other projects would you like to see receiving matching funds from PAN donations?
YEAH! Thanks so much for this @alexvinyas.
As we discussed in parallel, for this round we had to select some projects because we had no time to discuss. I would really love for the community to be able to decide and govern this particular allocation and this is definitely what we will do for next time.
For this particular round, though, we decided to “whitelist” for the matching in PAN:
- DAppNode (for obvious reasons )
- Prysm: Because they have been doing excellent job in advancing ETH2.0 and have been tremendously responsive and helpful in the adaptation work for DAppNode - And is probably one of the most used DAppNode packages (remember, we have no way to know and track metrics: your DAppNode is yours, local and private!)
- Rotki: Because it’s so deliciously complementary to DAppNode that it would be really awesome to see it in DAppNode.
good choices, thank you alex and pol!
@alexvinyas just told me that we can “whitelist” another project. I think Trueblocks could be great - a lot of DAppNode users could use the index function (@kem ?) and it would be awesome to have a DNP for it!
Does anyone have another suggestion? I’d like to get some people chipping in with their comments!
trueblock would be good but will they get it done? i checked and they been around much longer than prysm. worried they will not deliver. prysm has already had DNP for topaz, witti, onyx at least.
Aaaaaand it’s over!
You guys staked 463,398.69 PAN tokens, which is MINDBLOWING (that would be around 13k USD, but because there’s no liquid enough markets it would be really hard for someone to acquire so much PAN without drastically shifting the price)
Moreover, you donated 35,469 PAN to the projects supported by the DAppNode Panvala Cluster, through Gitcoin Grants…
… and thanks to that 35K PAN donation, the DAppNode-supported projects will receive a total of 170k $PAN (that’s a multiplier of 4.64x!), the distribution of which you can see in the table below:
Big congrats to The Commons Stack, who managed to stake a shitload of PAN and donated bucketsfull of the stuff! (Next time we can organize ourselves better and get that shiet rollin’)
Would it motivate people if, since the amount of PAN DAppNode receives is more than the amount donated, we gave people back their donated PAN, so DAppNode keeps the surplus and they can decide to sell their PAN o repeat the process next time?