Cosmos Hub Approves $1 Million Grant to Dora Factory Through Quadratic Funding Initiative

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Singapore, Singapore, May 15, 2024, Chainwire

A significant development at Cosmos is the recent adoption of Stewardship Proposal No. 917: Dora Factory and DoraHacks’ application for a $1 million grant from the Cosmos Hub community treasury. This grant will support ten rounds of square funding in the Cosmos Hub ecosystem over the next two years.

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As one of the largest requests for state funding, this proposal sparked widespread discussion within the Cosmos community and was met with overwhelming support. More than $1 billion of ATOM, including Cosmos’ core validators and core contributors, voted in favor. The approval rate reached 91.9%, making Governor’s Proposal 917 the proposal with the highest approval rating in Cosmos Hub history.

Following the approval of this proposal, Dora Factory, in partnership with DoraHacks, has officially announced its second AEZ (ATOM Economic Zone) square financing program, launching its first long-term financing initiative. This square funding program will run for two years, starting May 15, 2024 and ending in May 2026.

The passage of Governor’s Proposal 917 brings square native funding to Cosmos Hub for the first time.

What is public goods financing?

Financing public goods is a concept often discussed in the Web3 industry. Generally speaking, public goods refer to goods or services that are available to everyone.

In cryptography, public goods may include blockchain infrastructure, storage, development tools, middleware, and user-facing applications such as block explorers, data dashboards, and wallets.

Due to their inherent transparency and verifiability, cryptocurrencies and blockchain are ideal tools for financing public goods.

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However, web3 financing of public goods also faces many challenges.

  • Lack of coordination between the different parties involved in financing public goods (foundations, institutions, DAOs, developers and communities).
  • Lack of sustainable and effective financing mechanisms.
  • Financing public goods is often perceived as uninteresting.

Dora Factory: Infrastructure born for public goods

Dora Factory is the leading decentralized governance infrastructure and multi-chain public goods finance protocol stack, incubated and powered by DoraHacks, an industry-specific development and public goods finance platform. Its products include the Public Good Staking infrastructure and Dora Vota, a voting and governance application chain designed to empower the global hacker movement, open source and DAO communities.

Cross-chain square finance: Connecting communities and ecosystem builders

What is square financing? With native token donations, communities of token holders can support high-quality early-stage projects and public goods across ecosystems, fostering greater collaboration between foundations, communities and developers.

As the first and only team in the industry to develop and champion this approach, Dora Factory is a true leader in multi-chain square finance. He has successfully implemented native square funding across many major crypto ecosystems, including BNB Chain, , Polygon, Aptos, Cosmos Hub, Injective, and .

Prioritizing the public good: ensuring sustainable financing for public goods

At the end of 2022, Dora Factory introduced the concept of Public Good Staking. By operating core infrastructure such as validators, they earn native block rewards that are continually used to fund developers supporting multiple networks and public goods ecosystems.

Dora Factory promoted public good investment across core and test networks of over 30 ecosystems, achieving a TVL (Total Value Locked) of over $400 million, providing up to $10 million in ongoing annual funding.

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In the future, Dora Factory will explore ways to exploit cryptocurrency to finance cutting-edge technology fields such as space technology, quantum computing, artificial intelligence and biomedical research.

Social incentive fund: Making financing public goods more enjoyable

Dora Factory has launched a Social Motivation Fund to make the process of financing public goods more engaging and enjoyable. Top meme designs and NFTs such as Celestia’s Celestine Sloth Collection, Injective Ninja, Aptos Gui Inu, and Aptos Monkeys have become Community Incentive Fund partners. Through retroactive drops and gamified donations, these projects have brought more fun to public goods financing, receiving contributions and donations from nearly 100,000 unique addresses across communities.

Anonymous Minimum Anti-Collusion Infrastructure (aMACI): Bringing privacy technology to the on-chain management of public goods

MACI is a cryptographic technology designed to maximize the detection and elimination of voting collusion. In 2022 and 2023, the Dora Factory team collaborated with ETHDenver, 0x and OpenSea to introduce privacy voting in cryptocurrency hackathons. MACI has significantly improved privacy and reduced collusion in on-chain governance and voting.

In 2024, Dora Factory launched aMACI, adding voter anonymity to eliminate collusion between the vote initiator and the operator. This further increases privacy and lowers the threshold for using MACI voting. This is a significant step towards future large-scale decentralized voting systems.

Dora Vota: Open infrastructure for financing public goods

Dora Vota is a multi-chain management and voting infrastructure. Vota and interoperability protocols such as IBC will provide modular voting and management infrastructure such as plug-and-play square funding modules and grant distribution mechanisms. As the first permissionless application chain focused on scaling on-chain voting, Dora Vota will offer developers a valuable playground, unlocking more opportunities for public goods financing and decentralized community management.

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Dora Factory recently secured strategic funding from dao5, Whampoa Digital and angel investors such as EigenLayer co-founder Calvin Liu. This is the first strategic round of a modern series of financing since Dora Factory’s $17.5 million raise in 2021.

The team believes that as Dora’s Public Good Staking evolves and the Vota ecosystem matures, Dora Factory will continue to pursue modern solutions to classic financing inefficiencies, accelerating the maturity of public good management and financing in the multi-chain ecosystem.

contactCommunity co-creatorChris LeeDora’s Factorywinniedrinkwater@gmail.com

This article was originally published on Chainwire

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