A detailed explanation of the roadmap for the second phase of Dora Factory
Original author: 0x55
Most users who are familiar with Dora Factory will not be unfamiliar with DoraHacks, which is a developer incentive platform and Hackathon organization established in 2014. It is also the most influential geek and developer community in China. In the form of second-party voting Grant, it provides financial support for many blockchain start-up teams.
In 2021, the core team of DoraHacks incubated the Dora Factory protocol layer, with the original intention of building a multi-chain DAO-as-a-service infrastructure platform. Dora Factory initially focused on governance issues in the blockchain world. Later, with the development of time, projects continued to change, and infrastructure such as the open community Grant DAO protocol was launched. The team believes that the infrastructure at the current stage is relatively complete, and it is time to clarify the development plan for the next few years.
Therefore, on March 1, the Dora Factory team announced the development roadmap of the second phase in the form of a blog post, focusing on the core content of the project's development in the next few years, including the following three parts:
Decentralized Venture Capital FundDecentralized Venture Capital Fund, to fund hacker ideas indefinitely.
2) Build all necessary infrastructure to supportMortgage of public goods。
3) By establishingMulti-Planet Settlement Networkfirst level title
Realize a permissionless, decentralized venture capital community governed by vcDORA
In the past two years, Dora has been committed to providing financial support for early blockchain entrepreneurial teams in the ecosystem. Initially, the community selected the candidate list through quadratic voting, although the quadratic funding mechanism can avoid huge Whales manipulate voting results, but there are also risks such as Sybil attacks, identity attacks, unfair fund distribution, and voter privacy. In order to solve the above problems, the 2022 Dora team proposed the open community Grant DAOs governance based on the vcDORA economic model.
Grant DAOs is a fund allocation framework launched by Dora Factory, and the community controls and manages the decision-making power of fund allocation. Different types of Grant DAO can adopt different funding forms according to the existing community size, funds, and access thresholds. For example, an elite Grant DAO with small members can conduct internal meetings, similar to high-level meetings of traditional companies, so that the company can complete efficient decision-making. But the ultimate goal of Dora is to realize the Grant DAO of the open community. Taking Dora Grant DAO as an example, it is managed by the community with vcDORA tokens. In theory, anyone who participates in community governance does not need permission.
The design of the vcDORA economic model follows Curve's veToken model. Users pledge DORA tokens to generate a corresponding amount of vcDORA. As a kind of "credit governance", vcDORA represents the voting weight of users when they participate in governance. The number of DORA tokens is related to the time period.
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Source: Dora Factory Blog
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DORA’s token pledge as of press time, source: https://dao.dorahacks.io/#/
At present, Dora Factory has launched the pledge function of DORA tokens. More than 100,000 DORA tokens have been pledged (accounting for 1% of the total number of DORA tokens), and about 52,000 vcDORA tokens have been created. The average time period About 2.11 years.
Judging from the information disclosed on the official website, the governance function will be launched in the future, and the decision-making in the Dora Grant DAO will be governed through vcDORA. The DAO community will also gradually realize decentralized venture capital.
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Public Good Staking (PGS)
In addition to decentralized venture capital funds, the second core content mentioned in the Dora official blog roadmap is Public Good Staking (PGS). It is reported that as early as 2022, the Dora team began to build the infrastructure for the Public Good Staking (PGS) protocol. As of February this year, the TVL of the Dora Factory Public Good Staking (Public Good Staking -PGS) has reached It raised 300 million US dollars, including validators from multiple ecosystems such as Aptos, Cosmos, Injective, and EVMOS.
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Source Dora Factory official blog
As shown in the figure above, in the three-step system for implementing Public Good Staking (PGS), each process is:
1) New block reward mechanism:In the existing market, block rewards are usually given to miners or verifier nodes. Dora Factory proposed a new part of tokens as block rewards in the Public Good Staking (PGS) protocol, and to miners or verifiers. Validator nodes charge a certain percentage of fees as a source of funding for ecosystem development. Funds are stored in smart contracts, and the size of funds is dynamically adjusted according to past expenditures to avoid large amounts of funds being left idle.
2) DAO manages the capital pool for ecosystem development:The control of the smart contract that stores the development funds of the ecosystem is in the Grant DAO smart contract, and community governance voting is required to determine the use and distribution of funds. That is, in each phase of the ecosystem funding plan, the DAO community is required to vote to determine the teams that can receive financial support and the specific amount.
3) Fund allocation plan:In order to ensure a fairer way of distributing funds, the governance system of Grant DAO adopts the scheme of counting votes off-chain and uploading the final results to the chain.
The Public Good Staking (PGS) protocol can not only achieve a stable source of funds for the development of the ecosystem, but also build a system that is fully governed by the community to fund early potential projects and public goods in the ecosystem, promoting more Many c-end users and early project parties participated in the ecology.
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Build an interstellar digital currency settlement network and introduce blockchain assets into space
The third content in the roadmap is to build a multi-planetary settlement layer to bring blockchain assets into space. This sounds very unconstrained. Unlike Musk's "bringing Dogecoin to the moon", the Dora Factory team believes that in the future, humans will live in other Odaily, and it will also be an era of multi-planetary economy. Therefore, it is necessary to bring open financial Ecosystems into space. However, the distances between different planets in the solar system are very long, which requires a certain amount of time for communication to spread. Taking the distance between the Earth and Mars as an example, the fastest communication time is 22 minutes. In the era of multi-planetary economy, excessive communication time will inevitably lead to serious congestion of transactions. At that time, a new protocol will be needed to deal with the problem of communication delay, so as to realize multi-planet transactions.
The Dora team did not disclose more detailed content and plans regarding the construction of an interstellar digital currency settlement network. It may be that life in space is too early for now. This project plan may not be launched until decades or even a hundred years later. , now it looks more like a good expectation.
The second-stage roadmap of Dora Factory clearly shows two future development directions, one is a decentralized venture capital fund, and the other is the current hot LSD market. Decentralized venture capital funds can not only provide unlicensed access to many early entrepreneurial projects in the community, but for its ecological community, early grassroots projects can survive with financial support, and there are more opportunities for explosions in the ecology project. The governance model based on vcDORA is an attempt to empower DORA tokens.
The Public Good Staking (PGS) agreement means that Dora Factory is entering the LSD market. At present, the LSD market share is almost monopolized by Lido. With the entry of Dora Factory and its new PoS Staking mechanism, Whether it will change the competitive landscape of the LSD market in the future remains to be seen.
Original link:Dora Factory Phase-II
