Dora Factory closes a new round of strategic funding and announces new ecosystem partners

Dora Factory, a decentralized governance infrastructure and multi-chain public goods funding protocol stack, has announced the completion of a new round of strategic funding. The round included DAO 5, Whampoa Digital, and 7 other well-known strategic investors, marking a significant expansion of the next phase of Dora Factory’s strategy.

This infusion will accelerate Dora Factory’s mission to build its flagship Public Good Staking infrastructure, as well as Dora Vota, the first new appchain dedicated to MACI and decentralized governance pioneered by the Dora Factory team. After this financing, Dora Factory’s Frontier Staking and funding work will also be launched at the same time.

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

As an already listed project, Dora Factory’s funding round stands in stark contrast to the traditional primary market investment model prevalent in the crypto industry, which is often criticized for its lack of fundamentals and overvaluations. Dora Factory’s new strategic funding round is a testament to the strong ecosystem and impact that its team and community have built over the past 24 months.

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

Commenting on the strategic significance of this round of investment, Tekin Salimi, founder of dao 5 and former Polychain partner, said: "The Dora Factory is a key part of many crypto ecosystems’ decentralized governance and public goods funding infrastructure. Many long-term teams have been undervalued in the recent bear market, but dao 5 is excited to inject new capital into the Dora Factory and provide first-hand support and services to reinvigorate value for the Dora community. ”

Peter Huo, Co-Chief Investment Officer at Whampoa Digital, added: “Dora Factory is similar to Y-Combinator in the Web3 space, but with the difference that it is entirely driven in a decentralized manner by Web3-native protocols, ecosystems, and community builders. It continues to prove that it is a catalyst for Web3 innovation, generating significant value for every ecosystem it supports. Dora Factory aligns with our investment narrative for Web3 adoption and mass adoption, and we at Whampoa Digital are excited to support and help accelerate its growth and realize its vision.” ”

The public goods funding infrastructure built by Dora Factory is an effective response to the current trend of commercialization and woollenization of public goods in the industry. In this trend, many institutions or projects reap significant benefits in the name of supporting and financing public goods, only to be borne by community members. This practice not only harms the interests of the community, but also undermines the true value of public goods.

In contrast, Dora Factory has built a blockchain-native infrastructure that prioritizes 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 engagement in governance and its track record further solidify its reputation as a reliable partner among its founders and the wider community. If widely adopted, this model could have a profound positive impact on the industry as a whole.

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

Eric Zhang, Architect of Dora Factory, commented: "In the coming year, Dora Factory will expand from public goods staking to the Frontier Staking community and bring the best of Web3 funding and governance to areas that will have a significant impact on the future of human productivity. ”

As a successful example of how to address the inefficiencies of traditional funding, the Dora Factory pioneered a sustainable and impactful approach to public goods support. 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 is Dora Factory’s first strategic funding round after raising $17.5 million in 2021, and will accelerate the process of infrastructure construction and public goods funding in a multi-chain world.

About Dora Factory:

Dora Factory is a decentralized governance-focused infrastructure and protocol stack that includes the flagship Public Good Staking and groundbreaking solutions such as 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 the Dora Factory, please visit dorafactory.org.

About DAO 5:

DAO 5 is an experimental cryptocurrency investment fund founded by former Polychain partner Tekin Salimi. With an initial AUM size of $125 million, it aims to gradually transform into a decentralized investment fund.

About Whampoa Digital:

Whampoa Digital is a venture capital fund led by Singapore-based Whampoa Group. Whampoa Group is a venture capital group co-founded by former Lee & Lee senior partner Amy Lee, a law firm founded by her father, Lee Kim Yew, and Singapore’s first Prime Minister, Lee Kuan Yew, and his wife Ko Yuk. The investment group’s other co-founder, John Lee, comes from the family that founded OCBC Bank (OCBC.SI), Lee’s Rubber Group and other commercial companies.