May 15, 2024
In a landmark decision, the Cosmos community has approved Governance Proposal No.917, allocating a substantial $1 million grant to Dora Factory. This funding will drive the pioneering Quadratic Funding Initiative within the Cosmos Hub ecosystem over the next two years.
A Resounding Endorsement
The proposal, spearheaded by Dora Factory and DoraHacks, garnered widespread support from Cosmos stakeholders, including major validators and core contributors. With over $1 billion worth of ATOM backing the proposal, it achieved an impressive approval rate of 91.9%, making it the most widely endorsed motion in the Cosmos Hub's history.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
DoraHacks | May 15, 2024 | $1m | Seed | $28m | Bing Ventures | Blockchain Infrastructure |
Introducing the Second AEZ Quadratic Funding Program
Following the community's green light, Dora Factory and DoraHacks have launched the eagerly anticipated second AEZ (ATOM Economic Zone) quadratic funding program. This ambitious initiative marks the beginning of the first long-term funding program, spanning from May 15, 2024, to May 2026.
Revolutionizing Public Goods Financing
At its core, this initiative introduces native Quadratic Funding to the Cosmos Hub for the first time, promising a paradigm shift in public goods financing within the Web3 landscape. Dora Factory, nurtured under the auspices of DoraHacks, emerges as a vanguard in decentralized governance infrastructure and multi-chain public goods funding protocols.
Empowering the Hacker Movement
With a suite of offerings, including Public Good Staking infrastructure and Dora Vota, an appchain tailored for voting and governance, Dora Factory sets the stage for empowering the global Hacker Movement, open-source communities, and DAOs. Quadratic Funding enables token-holder communities to bolster early-stage projects and public goods through native-token donations.
Sustainable Funding for Public Goods
Dora Factory's introduction of Public Good Staking ushers in a new era of sustainable funding for public goods. With over $400 million locked across 30 ecosystems, this initiative promises up to $10 million in annual funding, paving the way for sustained growth and innovation.
Catalyzing Advancements
Looking ahead, Dora Factory aims to leverage cryptocurrency to catalyze advancements in cutting-edge fields such as space technology, quantum computing, artificial intelligence, and biomedical research.
On-Chain Public Goods Governance
The unveiling of aMACI heralds a new era of on-chain public goods governance, bolstering privacy and mitigating collusion in voting processes. Coupled with Dora Vota, an open infrastructure for multi-chain governance and voting, Dora Factory is at the forefront of fortifying decentralized governance mechanisms.
Community Engagement
The Community Incentive Fund injects excitement into public goods funding, attracting participation from meme and NFT projects while fostering community engagement and collaboration.
Strategic Financing
Dora Factory's strategic financing from dao5, Whampoa Digital, and prominent angel investors underscores confidence in its vision. This capital infusion sets the stage for further innovation and expansion within the public goods funding ecosystem.
Unlocking the Future
The DoraHacks $1m funding marks a significant milestone in the evolution of Web3. As Dora Factory continues to push boundaries, we can expect groundbreaking innovations that will shape the future of decentralized governance, public goods financing, and the global Hacker Movement.
About DoraHacks
DoraHacks is a pioneering organization dedicated to fostering the global Hacker Movement, open-source communities, and DAOs. As a driving force behind the Dora Factory, DoraHacks plays a crucial role in shaping the future of Web3.
DoraHacks' mission is to empower hackers, developers, and innovators to build and fund public goods, decentralized infrastructure, and open-source projects. By providing resources, funding, and support, DoraHacks aims to create a sustainable ecosystem for the Hacker Movement, promoting collaboration, innovation, and decentralization.
Website: | |
X Account: | @DoraHacks |
X Followers today: | 39.6K |
X Followers 30 days ago: | 39.7K |
X Follower change: | -100 (-0.25%) |
About Investor
Investor: | Bing Ventures |
Description: | Bing Ventures is a pioneering venture capital firm specializing in Web3 and blockchain innovations. Founded in 2021 by former J.P. Morgan and Standard Chartered bankers, the firm supports early-stage startups and entrepreneurs. Bing Ventures takes a sector-agnostic approach, leveraging its deep industry roots and networks to make thoughtful and responsible investments. With a team of crypto veterans, the firm is dedicated to accelerating the growth of promising Web3 projects. Headquartered in Singapore, Bing Ventures has a decentralized team across Asia, the UK, and the US. |
Location: | Singapore, Central Region, Singapore |
Website: | |
LinkedIn: |
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
Comments