I came across A wonderful community Called Panvala which is highly motivated to spread their community funding model wide and far, as more people and communities benefit when they do…
" If BTC is digital gold and ETH is digital oil, PAN is a digital endowment for your community."
Yesterday I met with Niran (Rad Founder) & Steff (Rad Community Engineer) and we jammed on the intersections of Sourcecred and Panvala. While Panvala was new to me, Sourcecred was not new to them.
@s_ben had greeted Niran back in summer20’ in our server. Both beings and a few community members were excited about the idea of our communities collaborating but the timing wasn’t right…at the time sourcecred was not resourced to lean into this opportunity. (I do believe the time is right now, as in we have the maturity and capacity and motivation to lean into, that we didn’t before, despite the desires of interested parties.)
It is my understanding that it is quite easy to stake PAN with Panvala and see returns / achieve multipliers for matching donations as gitcoin grants allow us to potentially receive matching funds. The metrics that they set don’t appear to be a challenge at all, I think they have made this very simple for people to plug in despite all the math that follows lol
I overhead (and this could be mildly dramatic i have been wandering the web at wild hours) an example of a community staking 300$ and getting $3000 back, cant remember where my ears or eyes caught this but it made me wanna dig into finding out more about Panvala community.
There’s a lot of data on this page so I will be calling in Narim to help answer any questions folx might have about the following information. (He’s not on discourse yet, He’s happy to answer questions in the server as well.)
(imagery and text describing Panvala came from their handbook, resources located at documents end.)
The circulating supply consists of the tokens that have already been allocated (48,581,501 PAN as of November 1).
The decaying supply consists of the tokens that are locked and released with a half-life of four years, the same half-life as Bitcoin uses (41,418,499 PAN as of November 1).
The reserved supply consists of 10 million PAN that the token holders can allocate as needed. This is intended for exceptional opportunities to expand Panvala that cannot be achieved with the quarterly inflation. (10,000,000 PAN as of November 1)
When the price of PAN rises faster than the flow of donations, the net inflation rises as well. Similarly, when the price of PAN falls faster than the flow of donations, the net inflation decreases. As the market decides how to value PAN, we expect that sort of volatility to decrease, and the trajectory of Panvala’s inflation will stabilize, as will its multiplier.
A key difference from Bitcoin’s model is that in Panvala, all donations go back into the decaying supply . That means the supply curve doesn’t project the actual circulating supply in the future, it projects the maximum supply. In reality, every donation reduces the actual circulating supply.
The model in the chart above reaches equilibrium at an annual budget around 1,000,000 PAN that can be sustained indefinitely. In the long run, the flow of donations puts downward pressure on the circulating supply that fluctuates based on economic conditions. Those fluctuations are a result of changes in the value of PAN, and changes in the flow of donations.
Once the circulating supply reaches equilibrium in a decade or two, there are no inflation subsidies available: for every token going into the token supply as a donation, there’s one token coming out as inflation. This is similar to the end goal for the Bitcoin network to rely only on transaction fees instead of block rewards.
Over time, Panvala will approach its maximum supply, and the inflation subsidies will decrease. Our hypothesis is that we could have a decade or two of healthy inflation subsidies before they taper off. That’s why Panvala doesn’t just pursue inflation subsidies for communities: we pursue all possible subsidies for communities. As the inflation subsidies taper off, we aim to build up corporate sponsorships to keep funding flowing to Panvala League communities. That’s what makes Panvala the sustainable treasury for communities to share: our approach can keep subsidies flowing in perpetuity.
As a result, the share of PAN you hold is the share of Panvala’s subsidies that your communities will be able to enjoy in perpetuity. If BTC is digital gold and ETH is digital oil, PAN is a digital endowment for your community.
- I send an email and say we wanna do this… (I believe there would be mutual celebration)
- I get feedback on the desire to have Panvala do an AMA with us.
- Panvala will need to determine the size of our active community and set a number for the matching multiplier accordingly on their end - This should be easy to get a number on based on the meeting bot and github for tracking contributor participation.
- We will need a wallet to hold PAN for the community.
- Folx interested in staking PAN will need a wallet should they wish to participate.
ERC 20 Address
The address of the PAN token contract is
- Then we will want to publish a gitcoin grant to increase our chances of donor matching (I’m learning as I go, pretty sure gitcoin responds to the current round of grants soon.)
A requirement by any means for anyone in the community to purchase PAN, or do any work around this if they do not want to.
- An opportunity to fold into a liquidity model that is being stewarded in our web3 ecosystem.
- An opportunity to be eligible for additional grants for things like food, events or even to pay for a workshop.
- An opportunity to secure funding autonomously while helping our co-communities grow equity.
- Freaking awesome!
- Panvala - whitepaper
- Panvala - website
- Panvala - handbook
- Panvala - youtube
- Gitcoin - active grants - Infra Tech - “The backbone of the open web”
Spotify MetaView #3 - Past & Future of the Self-Organizing Societies with Niran Babalola (Jun 2020)
“Huge fan of SourceCred, and looking forward to getting some SourceCred-powered communities in to the Panvala league so we can subsidize them!” -Niran Babalola (Found this in our server after my meeting with the Panvala team)