1Hive has joined the Panvala League!

🔥Swarms
#1

1Hive is the newest member of the Panvala League!

panvala league
panvala league770Ă—468 206 KB

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:

21 Likes
Commons Swarm: How are we doing?
#2

Well played!

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

3 Likes
#3

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.

4 Likes
#4

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?

#5

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.

1 Like
#6

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?

#7

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

#8

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.

1 Like
#9

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

#10

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

2 Likes
#11

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

#13

Next staking round opens first week of January!

2 Likes
#16

Panvala staking is open!

If you have PAN, go to https://panvala.com/staking/ and stake your tokens with 1Hive! Even though you have to connect your wallet on Mainnet to stake, you don’t need to pay any transaction fee since it just needs a signature, and also it will work even if your PAN is on xDai.

If you don’t have PAN you can buy on Uniswap on Mainnet, or Honeyswap on xDai, although liquidity on Honeyswap is very low (we’re working on building shared PAN liquidity on Honeyswap by the next staking round). Then you can stake here: https://panvala.com/staking/

The more PAN that gets staked for 1Hive, the more PAN 1Hive gets from inflation :honeybee: Just staked ~10k of my own PAN for 1Hive :slightly_smiling_face:

2 Likes
#17

Hello, brother @paul , can you bet with panvala on the Gnosis chain? According to what I read, if it is possible I will try it and I will consult you if I have any questions! :honeybee:

#18

Yep! You can, but the interface was broken for me so when I staked with my PAN on xDai it showed my staking power as 0. Just stake it anyways, and you’ll see the stake pop up in the “Stakers” tab of this Google Sheet:

Message me in Discord if you have any issues :+1:

#19

@paul won’t let me do it with Gnosis! when trying to connect it asked me to be on the eth mainnet!

#20

this is great news!!! congrats to the teams once again !! lml

#21

You gotta connect on mainnet and stake from there. The interface won’t show that you have PAN tokens, but behind the scenes it is checking for PAN on xDai network and counting it for staking.

Not a great user experience I know… I’ll be helping Panvala get a better xDai/Gnosis chain presence by next staking period.

Thanks for staking!

1 Like
#22

thanks for the explanation! :pray: :honeybee: