This article comes from Dora Factory

Dora Factory, a decentralized governance infrastructure and multi-chain public goods funding protocol stack, announced the completion of a new round of strategic financing. Institutions participating in this round of financing include dao 5, Whampoa Digital and 7 other well-known strategic investors, marking a major expansion of Dora Factory’s new phase of strategy.

This capital infusion will accelerate Dora Factory’s mission to build its flagship Public Good Staking infrastructure, as well as Dora Vota — the new application chain pioneered by the Dora Factory team specifically for MACI and decentralized governance. After this financing, Dora Factory’s cutting-edge technology-related infrastructure (Frontier Staking) and funding work will also start simultaneously.

In parallel with this new financing round, Dora Factory is also expanding its partner lineup, including the groundbreaking launch of Long-term Quadratic Funding for the Application Chain Ecosystem for Cosmos ecosystem developers on Dora Vota.

As a project that has already been listed, Dora Factory’s current round of financing is in sharp contrast to the traditional primary market investment model popular in the encryption industry, which is often criticized for the lack of fundamentals and overvaluation of invested projects. Dora Factory’s new strategic financing round reflects professional investors’ recognition of the strong ecosystem and impact that its team and community have built over the past 24 months.

Dora Factory differentiates itself from other crypto projects as a representative of sustainable, long-term, developer-friendly crypto protocols. In more than two years, Dora Factory has achieved rapid growth in new infrastructure for public asset staking and ecological funding, fulfilling its commitment to providing high-quality products to developers and the crypto ecosystem, including Aptos, Cosmos Hub, Osmosis , Injective, dYdX and more than 40 crypto ecosystems provide security, with a total ecological pledge value of up to $250 million.

Tekin Salimi, founder of dao 5 and former Polychain partner, commented on the strategic significance of this round of investment: “Dora Factory is a key link in the decentralized governance and public goods funding infrastructure of many crypto ecosystems. Many of the recent bear markets have Long-termist teams are undervalued, but dao 5 is excited to inject new capital into Dora Factory and provide first-hand support and service to revitalize value for the Dora community.

Peter Huo, co-chief investment officer of Whampoa Digital, added: “Dora Factory is similar to the Y-Combinator of the Web3 space, but the difference is that it is completely driven by Web3 native protocols, ecology and community builders in a decentralized manner. It It continues to prove to be a catalyst for Web3 innovation, generating significant value for every ecosystem it supports. Dora Factory fits our investment thesis for Web3 applications and large-scale adoption, and we at Whampoa Digital are pleased to support and help its rapid development and realize its vision .”

The public goods funding infrastructure built by Dora Factory is an effective response to the current trend of commercialization and woolization of public goods in the industry. Under this trend, many institutions or projects, in the name of supporting and funding public goods, actually obtain a large amount of benefits, but community members ultimately bear the relevant costs. This approach not only harms the interests of the community, but also destroys the true value of public goods.

In contrast, Dora Factory has built a blockchain-native infrastructure and prioritized a fair, transparent, and sustainable funding mechanism, which is not only conducive to the development of public goods themselves, but also more in line with the long-term interests of the community. Dora Factory’s commitment to community-engaged governance and its track record of achievements further cement its reputation as a reliable partner among founders and the wider community. If this model is widely adopted, it could have a profound positive impact on the entire industry.

Focusing on the future, Dora Factory envisions this scenario, using the proceeds from pledging public goods to fund research and development of cutting-edge technologies. Dora Factory aims to support important research in key areas such as quantum computing and space exploration research, and to become a leader in changing the cutting-edge technology community in the Web3 field.

Eric Zhang, Architect of Dora Factory, commented: “In the next year, Dora Factory will expand from public goods staking to Frontier Staking, and bring the best funding and governance experience in the Web3 field to the future of human productivity. Areas of significant impact.”

The Dora Factory is a successful example of solving the inefficiencies of traditional funding, pioneering a sustainable and impactful approach to supporting public goods. With its proven track record, commitment to community engagement, and ambitious goals, Dora Factory is poised to significantly impact the entire PoS ecosystem and decentralized governance landscape in the coming years.

This financing, as Dora Factory’s first round of strategic financing after raising US$17.5 million in 2021, will accelerate the process of infrastructure construction and public goods funding in the multi-chain world.

About Dora Factory:

Dora Factory is an infrastructure and protocol stack focused on decentralized governance. Its products include groundbreaking solutions such as the flagship Public Good Staking and Dora Vota, a special purpose blockchain dedicated to voting and governance. , empowering the global geek movement, open source communities and decentralized organizations. For more information about Dora Factory, visit dorafactory.org.

About dao 5:

dao 5 is an experimental cryptocurrency investment fund founded by former Polychain partner Tekin Salimi. Its initial management scale is US$125 million, with the goal of gradually transforming it into a decentralized investment fund.

About Whampoa Digital:

Whampoa Digital is a venture capital fund led by Singapores Whampoa Group. Whampoa Group is a venture capital group co-founded by Amy Lee, a former senior partner at Lee Lee, the law firm founded by her father, Lee Kim Yew, and Singapores first prime minister, Lee Kuan Yew, and his wife, Kwa Yu Chi. The investment groups other co-founder, Lee Han Sze, comes from the same family that founded Oversea-Chinese Banking Corp (OCBC.SI), Lee Rubber Group and other business companies.