Dora Factory Secures $10 Million in Strategic Funding – Blockchain News, Opinion, TV & Careers

adminMay 24, 2024

Singapore, Singapore, May 23, 2024, Chainwire

Dora Factory, a leading decentralized governance infrastructure, announced that it has closed an additional $10 million strategic investment round. Nomad Capital, No Limit Holdings, Sky9 Capital, Singapore’s UOB-Signum Blockchain Fund, Interop Ventures, Cai Wensheng’s Longling Capital and nine other well-known institutional investors participated in this round.

This raise will accelerate the adoption and strategic expansion of Dora Factory’s decentralized governance and public goods financing technology stack.

Dora Factory is a leading infrastructure focused on decentralized governance and public goods technology. Core products include: Representative public goods staking infrastructureEnables block incentive-based ecosystem financing. dora voteCosmos SDK AppChain, which hosts the dGov protocol; Anonymous MACI and plain MACIzk voting infrastructure that protects personal information and prevents collusion, and Multi-chain secondary governance protocol stackAn on-chain mechanism that democratizes the financing of public goods.

Last week, the Cosmos Hub community approved Governance Proposal No.917 and a $1 million AEZ Quadratic Grant to implement 10 rounds of Quadratic Funding over the next 24 months through Dora Vota, Dora Factory’s voting app chain. All funds will be distributed to public interest builders and startups in the Cosmos Hub and associated ecosystem, building a thriving ATOM economy.

Earlier this year, Dora Factory launched the first round led by dao5, a new venture capital firm founded by former Polychain general partner Tekin Salimi, and Whampoa Digital, co-founded by former senior partner Amy Lee. announced a strategic round. The Singapore Law Firm was founded by Lee Kim Yew and Lee Kuan Yew, Singapore’s first Prime Minister. Prior to this, Dora Factory raised a total of $17.5 million in 2021, with investors including Binance Labs, HashKey, and The LAO.

“Building a leading public goods financing and governance infrastructure is an important step for the Dora team to advance the global hacker movement and drive cutting-edge technological innovation,” said Eric Zhang, architect at Dora Factory. “We are honored to receive so much support from our ecosystem partners and the Web3 community. In fact, decentralized governance has a deep and interesting technology stack that is still in its very early stages. There are many exciting developments ahead. Dora Factory’s work over the past three years has laid a solid foundation.”

Dora Factory has been dedicated to the research and development of decentralized governance infrastructure and applications since its founding in 2020. Over 2,000 startups have secured $20 million in on-chain grants through Dora Factory’s infrastructure.

Over 30 Web3 ecosystems, including Aptos, Celestia, Injective, Klaytn, and Akash, have worked closely with Dora Factory as core ecosystem partners and adopted Dora Factory’s protocol stack. Public Good Stake, an innovative initiative created by the Dora Factory team in 2022 to provide long-term, block-based, sustainable funding to public good builders and early-stage developer teams.

“The assets governed by the on-chain community have grown to hundreds of billions of dollars. This is the golden age of governance technology,” said Erick Zhang, Partner at Nomad Capital. “After four years of dedicated development and iteration, Dora Factory has become a public good infrastructure that is a cornerstone of the industry. We are excited to make this investment to support the Dora team’s mission to empower developers, drive innovation in the Web3 space, and expand adoption of new technologies, including aMACI.”

“Dora Factory’s development of Dora Vota and anonymous privacy voting technology demonstrates leadership in Web3 governance and public interest financing. This is an important part of blockchain’s value proposition, and we recognize its impact through millions of votes cast and over 2000 projects funded through QF. “Our investment is the first step in continuing to support their efforts.” said Gin Chao, founding partner of No Limit Holdings.

“We are excited to further grow the Dora Factory ecosystem with the support of our new investors. Our plans include innovation in multi-chain secondary funding and public goods staking, encouraging developers to expand use cases for anonymous MACI, and building new governance apps on Dora Vota. Our goal is to provide a suite of products that provides an exceptional experience for the on-chain community and teams working on cutting-edge technologies,” said Steve Ngok, core contributor at Dora Factory.

Introduction to Dora Factory

Dora Factory builds protocols and infrastructure to enable decentralized governance and efficient financing of global hacker movements, open source communities, and Web3 public goods. Dora Factory’s flagship Public Good Stake is one of the fastest-growing multi-chain staking infrastructures, providing block-based incentives to grow next-generation blockchains. Dora Vota is a purpose-built blockchain for decentralized governance that supports a plain MACI interface, anonymous MACI, and secondary governance rounds.

To use Dora Factory products, go to DoraFactory.org.

For more information, visit research.dorahacks.io.