Make Ethereum Safer
Panvala uses tokens to organize people who want to make Ethereum safer.
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How Panvala Mark Works
- Contract authors find a champion for their application who can demonstrate to token holders why the contracts are safer.
- Contract authors place a deposit and submit an application that includes their champion’s case for why the contracts should earn a Panvala mark.
- A challenger can trigger a token vote by matching the applicant’s deposit.
- Voters support the application if they support both the champion and the contracts. Voters oppose the application if they feel the contracts are unsafe or the champion’s recommendations haven’t earned their trust.
- Successful applications earn a Panvala mark.
Panvala Rating System
Authors who have already earned a Panvala mark can apply for a second mark if they can demonstrate that their contracts are safer than most contracts with one mark.
Apps throughout the Ethereum ecosystem can read from the Panvala registry. Displaying Panvala marks on apps and websites gives users the information they need to make safer choices.
Panvala Token Grants
Panvala wraps the existing ecosystem of grant funders, corporate open source projects, and volunteers with a token that gives them all a shared incentive to find sustainable funding together.
Batch 1 on February 1 has 2,119,836 tokens, Batch 2 on May 3 has 2,029,962 tokens, and the last batch with just one token will be awarded on January 15, 2106.
But our goal isn't to watch the tokens run out, it's to issue grants that are so compelling that it's easy to get donors to buy tokens from grantees and deposit them to recharge the token capacitor.
Instead of running out of our 50 million initial tokens for grants, we intend to keep issuing grants forever.
The Token Capacitor
The token capacitor smart contract starts with 50 million PAN. Releases can occur every 13 weeks. Every four years, half of the initial tokens will remain.
Donors buy tokens from grant recipients and deposit them in the token capacitor to keep it charged up and rewarding work far past the initial 50 million tokens.
Our goal is to reach equilibrium: the flow of tokens going into the capacitor as donations should equal the flow coming out as grants to ensure that our cooperation can be sustained forever.
Panvala is being initiated by ConsenSys Diligence. We actively audit smart contracts and publish smart contract security best practices to advance the level of care we take as a community of smart contract developers. Our mission is to solve smart contract security so people can safely use this groundbreaking technology.
For users to be able to use smart contracts safely, they need trusted, human opinions about which contracts are safer to use. But we don’t want ConsenSys Diligence to become a single source of truth about what’s safe and what isn’t—rebuilding a centralized world is a waste of time. Panvala lets us build a decentralized source of truth so the entire community can cooperate to make Ethereum safer.