Panvala Launches Mainnet For Ethereum-Based Donor-Driven Platform

Blockchain, News | August 29, 2019 By:

Decentralized foundation Panvala has launched its smart contracts on the Ethereum mainnet.

Built by ethereum developer studio ConsenSys, Panvala helps fund the work the entire Ethereum community depends on. The platform is used by PAN token holders to determine which grant applications should be funded. Panvala Patrons pledge to make monthly donations to Panvala to support the grants that Panvala awards.

During Berlin Blockchain Week’s DappCon event on August 22, Panvala announced the launch of its smart contracts on the mainnet, allowing the Ethereum community to now help decide which projects receive funding through Panvala.

According to a press release, Panvala has awarded three batches of grants to over 20 reputable projects ranging in scope from enhancing security and scalability to developing infrastructure on the Ethereum blockchain, including: Prysmatic Labs, Sigma Prime, and the Nimbus team at Status for their work on Ethereum 2.0 clients.

“PAN token grants are funded by corporate sponsors, and by Panvala Patrons, notable members of the Ethereum community who make personal donations to further advancements within the ecosystem,” Panvala said. “A few Panvala launch sponsors include: MythX, Gnosis, Status, Tenderly, LevelK and Sigma Prime. In return for donations, Panvala’s donors earn the loyalty of the Ethereum community they are supporting.”

Panvala Founder Niran Babalola said that countless projects and people depend upon the Ethereum blockchain for their success.

“Problems like security and scalability span the entire ecosystem, but there aren’t reliable business models to solve these problems that will affect millions (and even billions) of people’s lives,” Babalola said. “Contributing to Panvala rewards the teams who solve those problems.”