DoraHacks Receives $8 Million Strategic Investment from Binance Labs
November 19, 2021, Singapore. DoraHacks announced that it has received a strategic investment of US$8 million from Binance Labs. DoraHacks is a decentralized global developer community and a leading open source developer incentive platform, and Binance Labs is the venture capital arm and incubator of Binance.
DoraHacks is the world's most active Web3 developer platform, Hackathon organizer, and one of the decentralized open source developer communities. DoraHacks provides a series of tools such as quadratic funding, Grant, Hackathon, developer Bounty, BUIDL NFT, Continuous Funding, etc. for the multi-chain Web3 ecosystem to support the development of the global open source community. In 2021, more than 1,000 developer projects in the DoraHacks community will receive nearly US$12 million in funding.
Regarding this investment, Bill Chin, head of Binance Labs, commented: "Supporting early-stage startups and developers has always been Binance Labs' strategy. DoraHacks is one of the largest multi-chain developer communities, where many excellent Web3 projects have emerged .As part of this strategic cooperation, Binance Labs will work with DoraHacks to further build the encryption community and build a more open-source friendly and diverse blockchain world. As one of the new cooperation measures, Binance Labs and DoraHacks are jointly organizing Binance Labs’ first 3-season incubation program.
To support the long-term vision of growing the Web3 developer community, DoraHacks and Binance Labs plan to work closely in the following areas:
Continue to provide funding, incubation and follow-up financing support for potential Web3 start-up projects;
Jointly study innovative decentralized governance mechanisms and build DAO infrastructure;
DoraHacks and BSC (Binance Smart Chain) have established a strategic partnership to carry out long-term cooperation in Grant, Hackathon and DAO infrastructure integration.
Dora's mission is to create a sustainable global Hacker Movement. The Dora ecosystem includes the decentralized open source developer community DoraHacks, the open source developer incentive platform HackerLink, the decentralized Hackathon community HackathonDAO, the "DAO-as-a-service" infrastructure DoraFactory, and Grant Factory, DoraID, privacy voting, Moloch Pallet, Multisig Pallet, etc. middleware. Developers can develop governance applications for open source communities and future decentralized organizations (DAOs) based on the infrastructure provided by DoraHacks and Dora Factory. At present, 20 mainstream Web3 ecosystems such as BSC, Polygon, Filecoin, and Solana have used Dora's infrastructure for developer community governance. DoraHacks has more than 100,000 monthly active users, and its developers and users cover 152 countries around the world.
For this cooperation, Eric Zhang, the founder of DoraHacks, said: "Since 2018, DoraHacks has cooperated with Binance to carry out 15 global Hackathon and Grant activities. Through the Hackathon and Grant of the DoraHacks community, Binance has provided more than 100 The developer team provided more than $2 million in funding. Through this strategic financing, DoraHacks will further accelerate developer incentive mechanism innovation and product iteration, support hackathon organizers and important Web3 open source software on a global scale, and promote the foundation of DoraFactory Facilities and ecological development, providing better services for global Web3 developers, helping developers innovate freely and change the world.”
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DoraHacks is the world's most active Web3 developer platform, Hackathon organizer, and one of the decentralized open source developer communities. DoraHacks provides a series of tools such as quadratic funding, Grant, Hackathon, developer Bounty, BUIDLNFT, ContinuousFunding, etc. for the multi-chain Web3 ecosystem to support the development of the global open source community. In 2021, more than 1,000 developer projects in the DoraHacks community will receive nearly US$12 million in funding. DoraFactory is the decentralized governance (DAO-as-a-Service) infrastructure of the Dora ecosystem. It provides multi-chain governance services for decentralized organizations and open source communities through core components such as Grant Factory, privacy voting, and DoraID.
first level titlehttps://www.dorahacks.com
Twitter: https://twitter.com/DoraHacks
Medium：https://hidorahacks.medium.com
About Binance Labs
Binance Labs aims to discover, invest in, and empower promising blockchain entrepreneurs, startups, and communities, and provide financing for industry projects that help grow the larger blockchain ecosystem. Binance Labs is committed to supporting high-execution teams that positively impact the crypto space.
