Cosmos Hub Approves $1 Million Grant for Dora Factory’s Quadratic Funding Initiative

Singapore, Singapore, May 15, 2024, Chainwire

A major event in Cosmos was the recent passing of Administration Proposal No. 917: Dora Factory and DoraHax's request for a $1 million grant from the Cosmos Hub Community Fund. This grant will support ten rounds of Quadratic funding in the Cosmos Hub ecosystem over the next two years.

As one of the largest applications for Treasury funding, this proposal has sparked extensive discussion and widespread support in the cosmos community. ATOM worth more than $1 billion, including major validators and major cosmos contributors, voted. The approval rate reached 91.9%, making Gov. Proposal 917 the highest approval rating in the history of the Space Hub.

Following the approval of this proposal, Dora Factory in collaboration with DoraHax has officially announced the second AEZ (ATOM Economic Zone) Quadratic Funding Program. This four-tier funding program will last for two years starting May 15, 2024 and ending in May 2026.

Passage of Gov. Proposal 917 will bring Native Quadratic funding to the Cosmos Center for the first time.

What is Public Goods Funding?

Funding for public goods is a frequently discussed concept in the Web3 industry. In general, public goods refer to goods or services that can be used by everyone.

In crypto, public goods can include blockchain infrastructure, storage, developer tools, software middleware, and user-facing applications such as blockchain browsers, data dashboards, and wallets.

Due to its transparency and verifiability, crypto and blockchain are ideal tools for supporting public goods.

However, financing Web3 public goods faces many challenges.

Lack of coordination between the various parties involved in the funding of public goods (foundations, institutions, DAOs, developers and communities). Lack of sustainable and effective funding mechanisms. He realizes that funding public goods is often not fun.

Enter the Dora Factory, which strives to build an infrastructure that enables the widespread adoption of public goods financing.

Dora Factory: Infrastructure born for public goods

DoraFactory is a decentralized management infrastructure and multi-chain public goods financing protocol stack, powered by DoraHax, the industry developer and public goods financing platform. Its products include a public good staking infrastructure designed to empower the global hacker movement, open source communities and DAOs, and Dora Vota, an application for voting and governance.

Multi-chain Quadrilateral Funding: Balancing Communities and Ecosystem Builders

What is Quadratic Funding? With native-token donations, token-holding communities can support high-quality early-stage projects and public goods across ecosystems, creating better collaboration between foundations, communities and developers.

As the first and only group in the industry to develop and support this approach, Dora Factory is a true leader in multi-chain quadratic financing. BNB has successfully deployed native Quadratic funding across many major crypto ecosystems, including Chain, Solana, Polygon, Aptos, Cosmos Hub, Injective, and Avalanche.

Public Good: Provide sustainable funding for public goods

In the year In late 2022, Dora Factory introduced the concept of public good staking. By building basic infrastructure like validators, you earn native rewards that are continuously used to support multi-chain developers and the public goods ecosystem.

Dora Factory has promoted the public good in more than 30 ecosystem networks and testnets, achieving a TVL (Total Value Locked) of over $400 million, and sustaining annual funding of up to $10 million.

Going forward, Dora Factory will explore ways to use cryptocurrency to support cutting-edge technology fields such as space technology, quantum computing, artificial intelligence, and biomedical research.

Community Incentive Funding: Making Public Goods Funding More Fun

Dora Factory launched the Community Incentive Fund to make the public goods funding process more engaging and fun. Top meme and NFT projects like Celestia's Celestine Sloth Collection, Injective Ninja, Aptos Gui Inu, and Aptos Monkeys have partnered with the Community Incentive Fund. By receiving contributions and donations from nearly 100,000 unique addresses in various communities, these projects have brought more excitement to the funding of public goods.

Anonymous Minimal Anti-collusion Infrastructure (aMACI): Bringing Privacy Technology to On-Chain Public Asset Management

MACI is a cryptographic technology designed to identify and remove communications generated during voting. In the year In 2022 and 2023, the Dora Factory team has partnered with ETHDenver, 0x, and OpenSea to introduce Privacy Voice for Crypto hackathons. MACI has greatly improved privacy and reduced collaboration in chain management and voting.

In the year In 2024, Dora Factory launched aMACI, adding voter anonymity to eliminate collaboration between the voice initiator and the operator. This further improves privacy and reduces MACI voice usage levels. This is a significant step forward for future large-scale decentralized voting systems.

Dora Vota: Open Infrastructure Funding for Public Goods

Dora Vota is a multi-chain management and voting infrastructure. Vota and communication protocols such as IBC provide a modular voting and governance infrastructure, such as plug-and-play quadratic funding modules and grant distribution mechanisms. As the first permissionless appchain focused on on-chain voting, Dora Vota provides a valuable playing field for developers, opening up more opportunities for public goods funding and decentralized community management.

Recently, Dora Factory received strategic financing from dao5, Whampoa Digital and angel investors such as EigenLayer co-founder Calvin Liu. This is the first strategic round of the new funding after the Dora plant will generate $17.5 million by 2021.

As Dora's public use grows and the Vota ecosystem develops, the team believes that Dora Factory will continue to find new solutions for traditional funding, governance maturity and public goods funding in a multi-chain ecosystem.

Connect

Community Contribution Chris Ledora Factory[email protected]