Singapore, Singapore, May 15, 2024, Chainwire
A major event in Cosmos is the recently passed Governance Proposal No. 917. This is his request for a $1 million grant from the Cosmos Hub Community Treasury by Dora Factory and DoraHacks. This grant will support 10 rounds of Quadratic Funding within the Cosmos Hub ecosystem over the next two years.
As one of the largest applications for state funding, this proposal sparked widespread discussion within the Cosmos community and received overwhelming support. Over $1 billion of his ATOM, including major validators and major Cosmos contributors, voted upvoted. With an approval rating of 91.9%, Government Proposition 917 became the motion with the highest approval rating in the history of Cosmos Hub.
Following the approval of this proposal, Dora Factory, in collaboration with DoraHacks, officially announced the 2nd AEZ (ATOM Economic Area) Secondary Financing Program, marking the launch of the first long-term financing initiative. This secondary funding program will span his two years, starting on May 15, 2024 and ending in May 2026.
The passage of Government Proposition 917 brings native Quadratic Funding to Cosmos Hub for the first time.
What is public goods financing?
Financing public goods is a frequently discussed concept within the Web3 industry. Public goods generally refer to goods and services that are available to everyone.
In cryptocurrencies, public goods include blockchain infrastructure, storage, developer tools, software middleware, and user-facing applications such as block explorers, data dashboards, and wallets.
Cryptocurrency and blockchain are ideal tools for financing public goods due to their inherent transparency and verifiability.
However, financing web3 public goods also faces many challenges.
- Lack of coordination between the various actors (foundations, institutions, DAOs, developers, communities) involved in funding public goods.
- lack of sustainable and effective financing mechanisms;
- It’s easy to think that funding public goods is uninteresting.
Enter Dora Factory, which strives to build the infrastructure that enables the deployment of public goods funding at scale.
Dora Factory: Infrastructure created for the public good
Dora Factory is the leading decentralized governance infrastructure and multi-chain public goods financing protocol stack, cultivated and supported by industry developers and public goods financing platform DoraHacks. Its products include Dora Vota, a public good staking infrastructure and app chain for voting and governance designed to power the global hacker movement, open source communities, and DAOs.
Multi-chain secondary funding: Coordinating communities and ecosystem builders
What is secondary funding? Through native token donations, a community of token holders supports high-quality early-stage projects and public goods within a variety of ecosystems, and supports collaboration between foundations, communities, and developers. Facilitate better collaboration.
As the first and only team in the industry to develop and advocate this approach, Dora Factory is a true leader in multi-chain secondary financing. We have successfully introduced native secondary funding to numerous mainstream crypto ecosystems, including BNB Chain, Solana, Polygon, Aptos, Cosmos Hub, Injective, and Avalanche.
Staking public goods: providing sustainable financing for public goods
In late 2022, Dora Factory introduced the concept of public goods staking. By operating the underlying infrastructure such as validators, native block rewards are earned and used to continually fund multi-chain developers and the public goods ecosystem.
Dora Factory powers public goods staking on mainnet and testnet in over 30 ecosystems, achieving over $400 million in total value locked (TVL) and up to $10 million in sustainable annual funding provided.
In the future, Dora Factory plans to explore ways to use cryptocurrencies to fund cutting-edge technology areas such as space technology, quantum computing, artificial intelligence, and biomedical research.
Community Incentive Funds: Making funding public goods more fun
Dora Factory launched the Community Incentives Fund to make the process of financing public goods more engaging and fun. Top memes and her NFT projects such as Celestia’s Celestine Sloth Collection, Injective Ninja, Aptos Gui Inu, and Aptos Monkeys are now partners in the Community Incentive Fund. These projects brought added fun to public goods funding through retrospective airdrops and gamified donations, receiving contributions and contributions from approximately 100,000 unique addresses across various communities.
Anonymous Minimum Collusion Prevention Infrastructure (aMACI): Bringing privacy technology to on-chain public goods governance
MACI is an encryption technology designed to maximize the detection and elimination of collusion in voting. In 2022 and 2023, the Dora Factory team collaborated with his ETHDenver, 0x and OpenSea to introduce privacy voting to crypto hackathons. MACI has significantly improved privacy and reduced collusion in on-chain governance and voting.
In 2024, Dora Factory launched aMACI to add voter anonymity and eliminate collusion between poll initiators and operators. This further enhances privacy and lowers the usage threshold for MACI voting. This is an important step towards future large-scale distributed voting systems.
Dora Vota: Open Infrastructure for Public Goods Financing
Dora Vota is a multi-chain governance and voting infrastructure. Interoperability protocols like Vota and IBC provide modular voting and governance infrastructure, including plug-and-play secondary funding modules and grant distribution mechanisms. As the first permissionless app chain focused on scaling on-chain voting, Dora Vota provides a valuable playground for developers, further unlocking the potential for funding public goods and governance of decentralized communities. Spread it out.
Recently, Dora Factory secured strategic funding from dao5, Whampoa Digital, and angel investors like AigenLayer co-founder Calvin Liu. This is the first strategic round in a series of new funds since Dora Factory raised $17.5 million in 2021.
As Dora’s public goods staking grows and Vota’s ecosystem matures, the team continues to explore new solutions to the inefficiencies of traditional funding and improve governance and public interest in multi-chain ecosystems. We believe that accelerating the maturity of financial financing.
contact
community contributor
chris lee
dora factory
winnie Drinkwater@gmail.com
Source: www.the-blockchain.com
