1Hive has joined the Panvala League!

1Hive is the newest member of the Panvala League!

What does this mean?
From Panvala’s website: “Panvala is a network of communities who cooperate and earn perks from Panvala’s shared endowment.” The League is powered by the $PAN token where inflation is distributed to member communities. Panvala suggests to use $PAN for community-building expenses like meetups, merchandise, and events, but members are free to spend their $PAN however they’d like.

Panvala’s long term goal is to serve real world communities. Current members are mostly crypto-native since we still have work to do to get crypto adoption for normies :slightly_smiling_face:

Nice! How do $PAN distributions work?
$PAN allocation is based on how much $PAN is staked for 1Hive, which is capped at a maximum % based on our community’s size. Staked $PAN remains in your wallet - no transactions are needed. There are a couple ways we can get our initial $PAN to stake:

  • Buy $PAN using Honey through a funding proposal to stake with
  • Individuals can stake on behalf of 1Hive using their own $PAN.

I plan on personally staking some $PAN myself, and I encourage anyone else with $PAN to do the same. I may work on getting a funding proposal together too closer to Panvala’s next staking round, if there’s interest.

Where will our $PAN go?
As 1Hive starts to earn $PAN distributions, we’ll need to decide as a community how to use it. I suggest to start we hold $PAN allocation in the Gnosis Safe being used for our treasury management program with Hedgey. Currently this is a basic multi-signature wallet, but based on the progress being made by the Gardens swarm on integrating Gardens with Gnosis, we should someday have better options for DAO management of non-HNY tokens. Ideally we’d eventually be able to select $PAN as the payout token from a funding proposal in the Honeypot.

How did we get in?
Membership to Panvala is free - new members are approved by existing members. Luckily the members are some of our best DAO friends, like Commons Stack, BrightID, Giveth, Gitcoin, and MetaCartel, so they were happy to have us on board.

Nice! What next?
Panvala’s next staking round starts the first week of January, 2022. Until then, check out Panvala’s Event Calendar and feel free to join in on Town Hall meetings, Book Club, or Poker :face_with_monocle:

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Well played!

That reminds me I need to find out if there’s a DAO rush week happening any time soon.

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Great news!
You can find more info about Panvala on the handbook.
I think 1Hive and bees might want to join a coalition within Panvala, run community events sponsored by the activities fund or contribute to Panvala as fellows.

I am part of another Panvala community, happy to help as needed.

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glad to read this, 1hive in Panvala is great, congratulations @paul , a question to contribute some bread should be asked in the eth network, at the moment the donation rounds begin or how would it be? on the xdai network?

Hey Rohek!

$PAN is on mainnet and xDai. Either network it will work for staking, but you won’t be able to stake until it opens in January.

By the way “staking” really just means pointing the Panvala site to your wallet to prove you have $PAN - you don’t lock any tokens up and no transactions are happening, so it’s free on either network.

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Thank you for your timely response and great work!
Excellent, so we will start the New Year on the right foot :), I think we could make a banner and create a tweet by making Hear this incorporation, how do you think?

Looking forward to $PAN. and the staking aspect of it makes it really enticing.

Funding public goods in a quadratic system is interresting idea… Panvala is always good in creating DAO events and this is very logical move we are doing here, getting closer with other DAOs.

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totally according to your point of view the approach to other Dao is great, and panvala hosts a diversity of projects there! :honeybee:

oh so good I thought that you could only staking the PAN that I had on the Mainnet, but I will buy PAN in xdai to bet on the projects of the Panvala league

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Wow didn’t know we joined the panvala… It’s time to stake my $PAN for 1hive… when’s the next panvala staking round ?..

Next staking round opens first week of January!

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