Dora Factory releases the second phase roadmap, exploring and practicing new civilizations
Original Author: Obama
"Recently, Dora Factory released the second phase of the roadmap and clarified the development direction, including decentralized venture capital funds, public goods pledge, and the interstellar digital currency settlement network (Dear Doge), which is building for our exploration into a new civilization. "Early Foundations"
Dora Factory is a DAO-driven digital infrastructure for Web3 hackers. The ecology aims to help open source communities and frontier technology builders to develop more vigorously in the form of creating protocols, tools and public welfare infrastructure.
We have seen that following the launch of the Alpha version of the public goods pledge on ETH 2.0, the ecology has further clarified the roadmap for ecological development in the near future. The new roadmap of Dora Factory includes three parts, namely, decentralization risk Investment funds, public goods pledge and interstellar digital currency settlement network.
Among them, the decentralized venture capital fund and the pledge of public goods belong to the development infrastructure category of the Web3 field, and the two can form linkages and link more industry roles to participate in industry construction. The interstellar digital currency settlement network (Dear Doge) belongs to the early exploration of blockchain technology in the field of space communication. It is a very advanced frontier field that is closely related to the development of human civilization. The application potential and prospect of blockchain technology.
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Dora Factory: a more extensive and hierarchical Web3 development infrastructure
The two sections of decentralized venture capital funds and public goods pledge belong to the category of Web3 infrastructure, and promote the development of the Web3 field in different ways:
The decentralized venture capital fund (the new form of Venture DAO) is iterated by the venture capital community Dora Grant DAO governed by vcDORA. It is oriented to various Web3 projects and is funded through community user voting. Its main purpose is to , to help more high-quality Web3 projects obtain funds for better development and sustainability, it allows anyone to apply for funding, and all community users can participate in voting.
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1. Decentralized venture capital funds
Dora Factory's decentralized venture capital fund belongs to a new form of Venture DAO, and has more advanced features and advantages in the Venture DAO track, including a high degree of openness, broadness, and fairness (reasonable anti-cheating, witch , conspiracy, etc.).
From the perspective of the Venture DAO track, the purpose of such facilities is usually in the form of "DAO", to make the fundraising more extensive, decentralized, and used for specific target events. In fact, the Venture DAO track can be traced back to The DAO, the DAO organization on Ethereum in 2016 (although it caused a series of historical problems after being stolen, it is still a good attempt). After 2018, Venture DAO projects represented by MetaCartel, LAO, Flamingo DAO, Stacker Ventures, Angel DAO, Honey DAO, etc. continue to emerge.
However, we have seen that due to the lack of universality, they have not become the "startup infrastructure" that can play a certain role in the Web3 field. For example, MetaCartel Ventures is currently not open to new members, and members of Flamingo DAO must be qualified investors stipulated by US law , new members of LAO must contribute at least 310 ETH to obtain 1% of LAO member units, while Honey DAO and Komorebi Collective are relatively lacking in decentralization.
Although Gitcoin on Ethereum itself does not belong to the category of Venture DAO, it is a good demonstration of Web3 start-up infrastructure. It is highly open, but participating donors do not guarantee that they will be rewarded. Governance issues, such as witches, scoring, cheating, etc.
Dora Factory's decentralized venture capital fund is iterated from Dora Grant DAO, a venture capital community governed by vcDORA. Any Web3 developer (they call them Hacker) can access the fund without permission, and then pass The Dora Factory community decides the final list of funded projects in the form of DAO voting.
Dora Factory allows community users to participate in voting in a permissionless manner, which means preventing voter witchcraft and collusion. Therefore, in terms of the fairness of governance voting, Dora Grant DAO has previously built corresponding mechanisms, including quadratic voting based on vcDORA, and the anti-collusion solution MACI based on zero-knowledge proof.
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Source: Dora Factory Blog
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Source: DoraHacks (DORA token pledge)
In addition, MACI, which is based on cryptography and has zero-knowledge proof features, prevents collusion between voters and voters during the voting and review stages. Its process includes:
Voters need to be registered to vote.
All votes will be encrypted with the operator's private key and cast to the smart contract. Voters can vote multiple times.
When the voting period ends, the operator collects all messages and counts the votes in reverse order, then publishes the final results without revealing any individual votes.
The operator uses zero-knowledge proof (ZKP) to publish the result to prove that the result is correct, and finally completes the counting of votes and the distribution of funds
The result of the voting is finally uploaded to the chain to be announced to the community and cannot be tampered with.
Therefore, Dora Factory's decentralized venture capital fund can ensure that everyone can participate in it "legally", and the potential risks can be weighed and avoided to the greatest extent. The system itself can achieve self-sustainment for a long time. In addition, the launch of the public goods pledge platform for users in the form of LSD products will bring more hierarchical incentives to voting users to promote their enthusiasm for voting, so in addition to financial support, it will also provide more high-quality Projects bring attention.
And ideally, the DAO fund's reserve funds reach a certain level, relying solely on the risk-free or risk-adjusted returns of the reserve capital to fund all venture projects in the geek community every year, just like a university endowment fund.
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2. Pledge of public goods
The "Public Goods Pledge" launched by Dora Factory is a decentralized and DAO-driven PoS pledge standard based on "block incentives". Licensing and free participation in staking, you can also participate in the development of ecological public goods (the Alpha version currently launched has been deployed in the ETH 2.0 system).
From the perspective of PoS blockchain networks represented by ETH 2.0, the system encourages currency holders to participate in the operation of the network in the form of staking to ensure the security of the network, but there is no incentive mechanism to promote ecological development. In fact, the blockchain should take application as the main keynote of ecological development, and the prosperity of application ecological development can determine the future development height of the ecology. But the reality is that more and more retail investors are not interested in participating due to insufficient network incentives (APR is too low). At the same time, the head LSD protocol is forming a monopoly and threatening the security of the blockchain system.
Dora Factory believes that further development of its own infrastructure through ecosystem public goods funds is expected to better continue to create value and promote Ming blockchain network to better maintain itself (ecological development).
Dora Factory has built a new block incentive mechanism in the public goods pledge section, which is based on block formation to further "separate" new incentives for funding ecological development. Block incentives come from two parts, one of which is that a small amount of tokens are issued in each block and added to theDecentralized venture capital fund poolIn , another method is to impose a block reward tax on the validator income, that is, each validator "pays" a small part of the income after completing the verification as an incentive fund to be used forDecentralized Venture Capital FundIn order to promote the development of this ecological public utility, to build a new form of Web3 start-up infrastructure.
Dora Factory's public goods pledge builds a dynamic ratio model to measure the effectiveness of funds. For example, if the net expenditure of a quarter is negative, it means that the actual need for funds is less, and the blockchain protocol will subsequently reduce the use of funds. The pool's block reward contribution. If the net payout is positive, the blockchain protocol can increase, so more tokens enter the pool. This kind of output regulation from the source will avoid the low utilization rate of funds.
From the perspective of consumers, they can obtain more flexible and multi-level income incentives through the pledge of public goods, including Staking income similar to LSD products, and token airdrops for Dora Factory-funded projects to increase more User C The enthusiasm of users participating in node pledge. At the same time, it is also expected to help encryption investment institutions and node users explore more Web3 business scenarios through public non-material pledges, and jointly promote the development of Dora Factory ecological sectors such as public goods pledges and decentralized venture capital funds. Prepare for funding more potential projects. And this emerging infrastructure with a new ideology is also reshaping the LSD track.
In fact, Dora Factory started building the basic technology and capabilities in early 2022. Now, public interest staking has been adopted by several ecosystems and is rapidly gaining further adoption. For example, in the initial attempt of Aptos Grant DAO public goods pledge launched at the end of last year, it achieved good results. In the first round of activities, 14,241.8 APTs were funded. As of February this year, the total locked value (TVL) of Dora Factory's public interest pledge has reached 300 million US dollars, which is composed of validators from various ecosystems. Through public interest pledge, Dora Factory can fund multi-chain innovation and enable more Hackers are able to build their own ideas and start their own ventures.
According to Dora Factory's second-stage roadmap plan, Dora Factory is further increasing the ability to pledge public goods, including the deployment to more blockchain systems. In addition to Aptos and ETH 2.0, it will also be in the form of public goods pledge Support the world's largest social protocol Nostr and deploy multiple relay nodes.
Additionally, infrastructure was built to allow consumers to become public good staking validators (currently supported in alpha on ETH 2.0), as well as the creation of a protocol suite to decentralize PoS network staking and governance.
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A New Exploration of Space Payment: Interstellar Digital Currency Settlement Network
Although humans are always exploring space, Tesla founder Elon Musk has actually said that he hopes to build 100 interstellar spacecraft every year and send 1 million people to Mars by 2050, although this sounds incredible , but as its commercial aerospace company SpaceX continues to achieve technological breakthroughs, it may be possible for humans to emigrate to Mars.
In addition to Elon Musk and his SpaceX, Dora Factory is also exploring the introduction of blockchain assets into space. In its second-stage roadmap, Dora Factory mentioned the "Interstellar Digital Currency Settlement Network (Dear Doge)", which is a blockchain-based multi-planet settlement layer.
Dora Factory believes that in the next 20 years, human beings are expected to realize the concept of permanent space settlement, and be able to create space factories, space orbital power stations, mines, scientific experiments, large buildings, moon bases, space troops, space hotels, tourism and other activities. When it is carried out across Odaily, for example, the earth and Mars are separated by 402 million kilometers, it is difficult for any communication method to be realized within 22 minutes (higher delay). For example, people living on Mars pay and shop through payment tools such as PayPal When , it is difficult to achieve real-time settlement, which means that traditional communication methods will no longer be satisfied with interstellar communication.
The idea of Dora Factory is that establishing a blockchain-based communication and settlement network between the stars, that is, "Dear Doge", may be able to solve the problem of interstellar settlement. Although Dogecoin, which is very close to Elon Musk, had high hopes, in fact its Nakamoto consensus (which can be understood as PoW) solves the limitations of multi-planetary blockchain asset transactions that rely too much on the physical level. It meets the economic requirements, and the launch cost and communication cost are too high.
Although Dora Factory did not disclose too many specific technical details and plans for this part, we guess that as an ecology with very experience in PoS, it may be expected to combine with its interstellar digital currency settlement network with an updated PoS paradigm.
Although it seems to us that this is just an idea, in fact Dora Factory has been working towards this goal last year. For example, in March last year, Dora Factory began to conduct zk-SNARK credible startup in space orbit. Research, and explore interstellar immigration, quantum computing, etc. with senior people in the related field. At the same time, Dora Factory has used Cryptosat's second satellite Crypto-2 and subsequent satellites to conduct multiple trusted computing experiments, including the zkSNARK trusted launch of Dora Grant DAO, and the initialization of zero-knowledge voted by the vcDORA community in a space environment proof system. And Dora Ventures was one of the earliest supporters of Cryptosat's satellite trusted computing infrastructure plan during 2021-early 2022. Cryptosat has successfully launched Crypto-1 for the first time in May 2022 through the SpaceX Falcon 9 rocket. satellite.
Summarize
Summarize
The second phase of the roadmap launched by Dora Factory clarifies its purpose as a development infrastructure in multiple fields.
In the Web3 industry, it aims to create a license-free and fair Venture DAO by launching a decentralized venture capital fund, so that more high-quality Web3 projects can obtain funding opportunities in a fairer way to further promote the Web3 industry development and fall.
Through the introduction of public goods pledge, in the form of LSD products, more roles can participate in the construction of the blockchain network, and obtain hierarchical benefits. While creating a more novel Web3 business model, it can promote the PoS blockchain network while taking into account Network security while avoiding the effect of ecological development imbalance, and on this basis, it will further feed back the centralized venture capital fund it launched.
In the field of interstellar communication, it aims to contribute to the development of human civilization and accumulate experience through the research, exploration, practice, and verification of the "Interstellar Digital Currency Settlement Network (Dear Doge)".
As Dora Factory puts it: "Not all of the following initiatives will be successful, especially the Dear Doge initiative. However, we will make sure to explore all roadmaps as much as possible and do our best to increase the level of innovation in each attempt. If If we succeed in any one of these, we will add something of value to human society. If we fail (one or all three), we will contribute some knowledge."
