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 infusion strengthens Dora Factory’s mission to build more advanced infrastructures for its flagship Public Goods 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 also expanding its partnership roster, including the launch of app chain second-tier financing rounds for Cosmos ecosystem contributors at Dora Vota.
The initiative undertaken by Dora Factory is in sharp 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 the tremendous foundations built over the last 24 months.
Dora Factory distinguishes itself as a model of sustainable growth and long-term sustainability. For over two years, Dora Factory has proven its commitment to delivering tangible results, evidenced by the impressive growth of its public domain validators, expanding into more than 30 ecosystems and reaching over $250 million in total value.
Tekin Salimi, Founder and General Partner of dao5, said the following about 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. “While many long-running projects have been undervalued in the recent bear market, dao5 is excited to inject new capital and hands-on support services to reignite value for the Dora community.”
Peter Huo, Joint CIO of Whampoa Digital, added:
“Dora Factory is like the Y-Combinator of the Web3 universe, but in a decentralized way, powered entirely by Web3 native protocols, ecosystems, communities, and builders. It has consistently proven itself as a vital component and catalyst in facilitating innovation in every ecosystem it is involved in. “In line with our investment thesis for 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 towards the commercialization of 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 reinforces its reputation as a trusted partner with founders and the broader community.
With a view to the future, Dora Factory envisions a scenario in which its shares for the public good are directed to financing pioneering technologies. Leveraging sustainable revenue streams, the protocol aims to support vital research and development in critical areas such as quantum computing, space exploration and longevity research, distinguishing itself as a forward-thinking leader in public goods financing and Web3 in general.
Dora Factory Architect Eric Zhang commented:
“Dora Factory has already begun significant efforts to ‘boundaries’ by bringing Web3 infrastructures and funding mechanisms to support emerging space technology startups and communities. “As Dora Factory continues to expand its influence and increase its revenue, it is committed to deepening its involvement in these sectors and recognizing their vital role in shaping the future of humanity.”
Dora Factory exemplifies a successful model in addressing the inefficiencies of traditional funding 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 landscape of the future of PoS ecosystems through public benefit sharding and decentralization 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, empowering next-generation PoS networks, open source communities, and decentralized organizations through groundbreaking solutions such as Public Domain 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 backed by Whampoa Group, a Singapore-based Whampoa Group. Whampoa Group was co-founded by his father, Lee Kim Yew, and Amy Lee, a former senior partner at Lee & Lee, the 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 who co-founded Southeast Asian bank OCBC (OCBC.SI) and Lee Rubber Group, among other companies.
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