Dora Factory, a leading protocol specializing in decentralized governance and multi-chain financing for public goods, has successfully secured a new strategic investment led by dao5.
This funding round, which also includes contributions from Whampoa Digital and seven other leading investors, marks a significant expansion of Dora Factory’s capabilities. This capital supports Dora Factory’s mission to build more advanced infrastructures for its flagship Public Good Staking products, support foundational public goods financing and pioneering research, and develop Dora Vota, a newly launched private app chain for advanced voting and decentralized governance.
In conjunction with this new investment round, Dora Factory is expanding its list of partnerships, including the launch of app chain quadratic funding rounds for Cosmos ecosystem contributors at Dora Vota. The initiative undertaken by Dora Factory stands in stark contrast to traditional primary investment models prevalent in the crypto space, which are often criticized for their lack of fundamental value. Dora Factory’s new strategic raise round highlights its overwhelming foundations built over the past 24 months.
Dora Factory continues to stand out with its activities
Dora Factory stands out as a model for sustainable growth and long-term viability. For over two years, Dora Factory has proven its commitment to delivering tangible results with impressive growth of public domain validators, expansion into over 30 ecosystems, and total value exceeding $250 million.
Tekin Salimi, Founder and General Partner of dao5, commented on the strategic importance of this investment: “Dora Factory is a critical part of the decentralized governance and public goods financing infrastructure for a long list of crypto ecosystems. “With many long-standing projects remaining undervalued in the recent bear market, dao5 is excited to inject new capital and hands-on support services to revitalize the value of the Dora community.”
Peter Huo, Co-CIO of Whampoa Digital, added: “Dora Factory is like the Y-Combinator of the Web3 universe, but powered by fully Web3-specific protocols, ecosystems, communities, and creators in a decentralized manner. It has consistently proven itself as a vital component and catalyst to facilitate innovation in every ecosystem it interacts with.
“In line with our investment thesis on Web3 applications and mass adoption, Whampoa Digital is excited to support Dora Factory in its mission and future growth.” Dora Factory’s approach to financing public goods across the entire sector is a remedial response to the recent trend of commercializing public goods and their financing, which often disproportionately impacts communities.
Instead, Dora Factory emphasizes the intrinsic value of public goods and prioritizes sustainable financing mechanisms. Its commitment to community engagement and proven impact solidify its reputation as a trusted partner for founders and the broader community.
With a view to the future, Dora Factory envisions a scenario in which public interest shares are directed to finance pioneering technologies. The protocol aims to support vital research and development in critical areas such as quantum computing, space exploration and longevity research by leveraging sustainable revenue streams, positioning itself as a forward-thinking leader in public goods financing and Web3 in general.
Eric Zhang, architect of Dora Factory, commented: “Dora Factory has initiated significant efforts towards ‘frontier staking’ by introducing Web3 infrastructures and financing mechanisms to support emerging space technology startups and communities. As Dora Factory continues to expand its impact and increase its revenue, it is committed to deepening its involvement in these sectors, recognizing their critical role in shaping the future of humanity.
Dora Factory exemplifies a successful model in addressing the inefficiencies of traditional financing models and pioneering a sustainable and effective approach to supporting public goods. With its proven track record, commitment to community engagement, and visionary goals, Dora Factory is uniquely positioned to significantly impact the future landscape of PoS ecosystems through public domain staking and decentralized governance in the coming years.
This strategic increase, which follows Dora Factory’s $17.5 million increase in 2021, will accelerate the process of infrastructure development and public goods financing in the multi-chain world.
About Dora Factory
Dora Factory builds protocols and technology stacks for decentralized governance, powering next-generation PoS networks, open-source communities and decentralized organizations with groundbreaking solutions such as Public Interest Staking infrastructure and Dora Vota, a special-purpose blockchain for voting and governance. To learn more about Dora Factory, please visit dorafactory.org.
About Dao5
Founded by former Polychain General Partner Tekin Salimi, dao5 is a $125 million experimental cryptocurrency investment fund that will evolve into a decentralized autonomous organization.
About Whampoa Digital
Whampoa Digital is a Web3 VC Fund founded by Singapore-based Whampoa Group. Whampoa Group was founded by her father, Lee Kim Yew, and Amy Lee, a former senior partner at Lee & Lee, a Singapore law firm founded by Singapore’s first prime minister, Lee Kuan Yew, and his wife. The investment group’s other co-founder is Lee Han Shih, a member of the business family that founded Southeast Asian bank OCBC (OCBC.SI) and Lee Rubber Group, among other companies
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