Singapore, Singapore, May 23, 2024, Chainwire
Dora Factory, a leader in decentralized governance infrastructure, announced that it has closed an additional $10 million in strategic funding. Nomad Capital, No Limit Holdings, Sky9 Capital, Singapore’s UOB-Signum Blockchain Fund, Interop Ventures, Cai Wensheng’s Longling Capital, and nine other prominent institutional investors participated in this funding round.
This funding 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. Its main products include: Flagship public goods staking infrastructure enabling block incentive-driven ecosystem funding. Dora Vota Cosmos SDK AppChain hosting the dGov Protocol. Anonymous MACI and Public MACI, A privacy-preserving and collusion-proof zk voting infrastructure, and Multi-Chain Quadratic Governance Protocol Stack an on-chain mechanism to democratize funding for public goods.
Last week, the Cosmos Hub community Governance Bill No. 917 And a $1 million grant AEZ Secondary Grant Over the next 24 months, we will conduct 10 quadratic funding rounds through Dorafactory’s voting app chain, Doravota, with all funds being distributed to public goods builders and startups in the Cosmos Hub and related ecosystems building a thriving ATOM economy.
Earlier this year, Dora Factory announced its first strategic round led by dao5, a new venture capital firm founded by former Polychain general partner Tekin Salimi. Huangpu Digital was co-founded by Lee Kim Yew and Amy Lee, a former senior partner at Lee & Lee, a Singapore law firm established by Lee Kuan Yew and his wife, Singapore’s first prime minister. Prior to this, Dora Factory had raised a total of $17.5 million in 2021 from investors including Binance Labs, HashKey, and The LAO.
“Building a funding and governance infrastructure for a major public good is an important step for the Dora team to advance the global hacker movement and drive frontier technology innovation,” said Dora Factory Architect Eric Zhang. “We are humbled by the amount of support we’ve received from our ecosystem partners and the Web3 community. Indeed, decentralized governance has a deep and interesting technology stack, and we’re still in the very early stages. There are many exciting developments to come. Dora Factory’s work over the past three years has laid a solid foundation for them.”
Since its founding in 2020, Dora Factory has been dedicated to research and development of decentralized governance infrastructure and applications. Over 2,000 startups are on-chain using Dora Factory’s infrastructure. He secured $20 million in grants.
More than 30 Web3 ecosystems, including Aptos, Celestia, Injective, Klaytn, and Akash, work closely with Dora Factory as a core ecosystem partner and have adopted Dora Factory’s protocol stack. Through Public Good Staking, an innovative initiative created by the Dora Factory team in 2022, they have provided long-term, block-native, and sustainable funding to public goods builders and early-stage development teams.
“Assets under on-chain community governance have grown to $100 billion. 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 the foundational public goods infrastructure for the industry. Through this investment, we are excited to support the Dora team’s mission to empower developers, spur 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 the company’s leadership in Web3 governance and public goods financing. We recognize their impact with over 2,000 projects funded through Vote and QF, and our investment is the first step in continuing to support their efforts.” said Jing Chao, founding partner of Holdings.
“We are excited to further grow the Dora Factory ecosystem with the backing of our new investors. Our plans include innovating in multi-chain secondary fundraising and public goods staking, encouraging developers to expand use cases for anonymous MACI, and building a new governance app with Dora Vota. Our goal is to deliver a suite of products that provide a great experience for the on-chain community and teams working on frontier technologies,” commented Steve Ngok, core contributor at Dora Factory.
About Dora Factory
Dora Factory builds protocols and infrastructure that enable decentralized governance and efficient financing for the global hacker movement, open source communities, and Web3 public goods. Dora Factory’s flagship product, Public Good Staking, is one of his fastest growing multi-chain staking infrastructures that provides block-native incentives to grow the next generation of blockchains. Dora Vota is a blockchain dedicated to decentralized governance, supporting the general his MACI interface, anonymous MACI, and secondary governance rounds.
To use Dora Factory products, please visit: Dorafactory.org.
For more information, Laboratory
contact
community contributor
chris lee
Dora Factory
winniedrinkwater@gmail.com
Source: www.the-blockchain.com
