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
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