- Over 2,000 startups have utilized Dora Factory’s infrastructure to secure $20 million in grants since its inception.
- Future developments include expanding multi-chain quadratic funding and enhancing governance through new applications on Dora Vota.
Singapore, May 23, 2024—Dora Factory, a developer of decentralized governance infrastructure, has announced the successful completion of a $10 million strategic funding round. Participants in this round included Nomad Capital, No Limit Holdings, Sky9 Capital, Singapore’s UOB-Signum Blockchain Fund, Interop Ventures, Cai Wensheng’s Longling Capital, along with nine other institutional investors.
This funding aims to enhance the adoption and expansion of Dora Factory’s technologies focused on decentralized governance and the funding of public goods. Among its products are the Public Good Staking infrastructure, which finances ecosystem growth through block incentives, and Dora Vota, a Cosmos SDK appchain for decentralized governance protocols.
It also offers anonymous MACI and general MACI, which are privacy-preserving, collusion-resistant zk voting infrastructures, and a multi-chain Quadratic Governance protocol stack that democratizes funding for public goods.
The Cosmos Hub community recently approved a $1 million grant to AEZ Quadratic Grant to conduct ten rounds of Quadratic Funding over the next 24 months via Dora Factory’s voting appchain, Dora Vota. This grant will support public good builders and startups in the Cosmos Hub and its associated ecosystems.
Earlier in the year, Dora Factory’s first strategic funding round was led by dao5, a venture capital firm founded by former Polychain General Partner Tekin Salimi, and Whampoa Digital, co-founded by Amy Lee, a former senior partner at the Singapore law firm Lee & Lee. Prior to this round, Dora Factory had raised a total of $17.5 million in 2021, with contributions from investors including Binance Labs, HashKey, and The LAO.
Eric Zhang, Architect of Dora Factory, emphasized the importance of developing infrastructure for funding public goods and governance to advance global innovation in technology. Since its founding in 2020, Dora Factory has focused on the research and development of decentralized governance infrastructure and applications, aiding over 2,000 startups to secure $20 million in grants through its platforms.
Over 30 Web3 ecosystems, including Aptos, Celestia, and Injective, have integrated Dora Factory’s protocols as core components of their systems. Erick Zhang, Partner of Nomad Capital, noted the scale of assets under governance in on-chain communities, now valued in the hundreds of billions of dollars.
Dora Factory plans to continue developing its technologies with innovations in multi-chain quadratic funding and Public Good Staking. It also aims to expand the use of anonymous MACI and develop new governance applications on Dora Vota, aiming to improve the infrastructure available to on-chain communities and teams working on advanced technologies.
For more detailed information about Dora Factory and its initiatives, visit research.dorahacks.io or doraFactory.org
