As more smart contract platforms launch, it’s becoming clear that it can be more profitable to compete with #Ethereum than to cooperate. There’s a path forward that can keep our community working together to fulfill the Ethereum vision instead of splintering apart. #consensus /1 
This photo is from Nigeria, where people put up signs on their property to make it harder for scammers to sell property they don’t actually own. If you have to write “this property is not for sale,” you’re missing some key institutions that could make that obvious instead. /2
Property rights built the Ethereum ecosystem. People bought into the crowdsale in exchange for property: buyers received ether on this new ledger. Since then, many ether holders have built on top of the network to make Ethereum more useful. /3
That increased utility is its own reward, and this new phenomenon has driven the explosion of developer activity on Ethereum. But that incentive doesn’t seem to be enough to get us where we’re going. /4
With each “Ethereum killer” announcement, Twitter erupts with people saying how Ethereum’s untouchable. It’s our version of a “this property is not for sale” sign on our house. If we have to say it, we’re missing institutions that make it obvious that Ethereum’s here to stay. /5
Money flows to teams that compete with Ethereum because it’s easy to reward the people who contribute work or funds to start something new: just give them tokens. But it’s really hard to be rewarded for improving a system that already exists. /6
To avoid watching our community be torn apart by each new system that claims to be better than Ethereum, we need a credible story that makes it clear how people who improve Ethereum over time will be rewarded. /7
There’s nothing wrong with launching new blockchain networks. As research in our community continues, we might need to launch new networks to make progress. But launching a new network doesn’t mean you have to launch a new token. /8
Ethereum 2.0 is a whole new network, but it uses ETH from the existing chain instead of its own token. That’s the right model for advancing the state of the art for scalable blockchains, and every team out there that is launching their own network could take the same approach. /9
We’d have one clear token for Layer 1, and only have new tokens on top for dapps that don’t compete with ETH. Rather than being seen as Ethereum competitors, these new networks would be seen as parallel efforts to advance Ethereum. /10
New Layer 1 teams don’t choose to compete because they’re bad people who don’t like us. They compete because it’s more rewarding, and that’s something we can change. Panvala’s goal is to make cooperating with Ethereum more rewarding than competing. (Follow us: @PanvalaMark) /11
If you’re building a hub for independent blockchains to swap tokens, cool! If you want a blockchain where each shard can have its own protocol instead of Ethereum’s, that’s great! We should make sure you can get rewarded for building it using ETH. That’s what Panvala does. /12
Panvala is a donor-driven platform that helps fund the work that the whole Ethereum community depends on, like a decentralized Ethereum Foundation or a decentralized Joe Lubin. /13 consensys-17.wistia.com/medias/ulgqndh…
We designed Panvala to give the whole #Ethereum community an incentive to raise funds to support these rewards. Panvala runs on its own token, but not its own blockchain. It’s designed to support the community we already have, not to create a new one and compete. /14
Panvala has issued two rounds of token grants so far. Eth 2.0 teams like @prylabs and @sigp_io were awarded 800,000 PAN. @ethstatus was awarded 200,000 PAN to help monitor the security of live dapps. @statechannels was awarded 850,000 tokens to scale Ethereum on Layer 2. /15
Panvala patrons donate by buying tokens from grant recipients and donating them back to the contract they came from so we can keep issuing grants. Panvala never touches dollars or ether. It runs on its own currency instead. /16
Just like land ownership gives people an incentive to build buildings and holding ether gives people an incentive to make Ethereum more useful, Panvala tokens give people an incentive to raise funds and distribute grants well to attract more patrons. /17
Instead of running like a normal nonprofit where only the staff gets rewarded for increasing donations, in Panvala, any token holder can benefit from recruiting more patrons. /18
Property rights for land gave us our bustling cities and the buildings that fill them. Property rights for ideas gave us the Industrial Revolution and the continued progress that put supercomputers in our pockets. With Panvala, we now have property rights for cooperation. /19
People who grow the strongest communities who do the most work together can now be rewarded for it. We won’t have to say “this property is not for sale” anymore. We won’t have to reassure people that competing projects don’t have a chance to unseat Ethereum. It’ll be obvious. /20
We got where we are today by improving the network we’re all loyal to. But being loyal to a technology doesn’t make any sense. Technology can let you down. I’d rather be loyal to something that will never let me down. I’d rather be loyal to this community. /21
Ethereum isn’t destined for success because it has the best code. It’s destined for success because it has the best people. It’s because of people like you. /22
I’ve met so many of you and talked to you about why you’re here. Some of you got involved for the obvious reason—the price went up—but you found other reasons to stay. /23
Some of you have watched an economy that once lifted up a broad middle class turn into an economy that funnels wealth to the top, and you’re looking for a way to fix it. You see a chance to do that with Ethereum. /24
Some of you are tired of having our online lives steered and directed by giant corporations that share our *data*, but don’t share our *interests*, and you want to use Ethereum to give people control of the networks they use. /25
New blockchains that launch with their own tokens might attract speculators looking for the next pump and dump, but there’s so many of us who are here for something else, and we’re here to stay. /26
We’ve seen how blockchain technology can coordinate miners to cooperate to maintain a ledger. Now it’s time to use this technology to coordinate this community to cooperate, rather than sitting back and watching us splinter into new factions as each new blockchain launches. /27
You can get started today at Panvala.com. Become a Founding Patron of Panvala by June 30. Let’s sustain Ethereum together, then find out what else we’re capable of. /28
Want to earn a Panvala grant and join teams like @prylabs, @gnosisPM and @AragonOneTeam? Apply for Batch Three by June 7. Email us at info@panvala.com to get started. /29
Thanks to @owocki for the inspiration for tweeting this presentation from #EtherealNY last Friday. Check out his take on sustaining open source with Gitcoin.
