I’d like to give an update surrounding DXdao’s involvement in the Panvala Caucus this quarter.
To summarize the Panvala round:
This quarter, 78 donors donated 362,777 PAN to over 100 projects on Gitcoin Grants. Those projects will receive a total of 1,424,551 PAN, which is 4x times those donations.
This quarter, our stakers and other token holders were diluted by 1,899,401 PAN, including 1,061,774 PAN that will be used to match Gitcoin donations. The matching tokens are 3x the donations from individuals on Gitcoin.
At the end of the round on July 3, 1 PAN was worth 3.9 cents USD, so the total 1,424,551 PAN allocated was worth $55,557, up 65% from the $33,450 allocated last quarter. Commons Stack and MetaCartel slightly exceeded the capacity of their staking clusters, so their matching multipliers are slightly lower.
Gitcoin Grant donations in PAN to the DXdao cluster totaled PAN 19.7k with Black Girls CODE leading the way with 7,099 PAN.
In total, at the PAN price of $0.039/PAN, that’s $770 in donations with $3,576 of matching PAN.
DXdao is now established as one of the five key Clusters for Ethereum in the PAN ecosystem. DXdao is the only cluster that is focused on DeFi. This is a prime position to be in.
Over this next quarter, Panvala Caucus has a goal to establish Awards and Fellowships within communities.
Awards: Give money to different people/projects each time to recognize their work.
Fellowships: Give money to the same person/project each time to support their work.
This is something that DXdao has discussed in parallel. How do we provide awards for smaller achievements on a regular basis?
There will be another Fall DAO Rush Week, with details:
Open house events for any DAO
The more tight knit communities there are in the crypto world, the easier it is for Panvala to subsidize them
Last quarter’s event hosted by MetaCartel went well, and people are excited to do it again
This quarter, DAO Rush Week is hosted by the DAO Rush Council, an organization of invited DAOs
Dates are August 31 - September 5
If you would like to get involved in any of this, please feel free to reach out.