Make Ethereum Safer
Panvala participants produce a registry of safer smart contracts.
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How Panvala 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.
PNV: Panvala Tokens
100 million PNV tokens will be distributed. 40 million PNV tokens will be sold to participants. 10 million PNV tokens will be distributed to the initiating team. The remaining 50 million tokens will be initialized in a token capacitor contract, where they will be distributed over time by token holders.
The Token Capacitor
After launch, Panvala requires ongoing cooperation to improve the system over time. Participants can reward this cooperation using the token capacitor. The token capacitor contract holds 50 million tokens that it releases at a decaying rate over time depending on how many tokens are currently in the capacitor. Token holders who want to increase the rewards for cooperation can donate tokens to the capacitor.
Releasing tokens from the capacitor is automatic, but the destination for those tokens is governed just like the registry itself. Any token holder can propose a destination for the released tokens by placing a deposit, and a challenger can match the deposit to trigger a vote of token holders.
We’re planning to sell tokens to people who want to participate in Panvala in Q1 2019. Stay tuned for more details!
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.