Dora Factory has completed a new round of strategic financing and announced new ecosystem partners

Decentralized governance infrastructure and multi-chain public goods funding protocol stack Dora Factory announced the completion of a new round of strategic financing. Institutions participating in this round of financing include dao5, Whampoa Digital, and seven other well-known strategic investors, marking a significant expansion of Dora Factory's new strategic phase.

This funding injection will accelerate Dora Factory's mission to build its flagship Public Good Staking infrastructure, as well as Dora Vota — a newly launched application chain specifically for MACI and decentralized governance by the Dora Factory team. Following this financing, Dora Factory's frontier technology-related infrastructure (Frontier Staking) and funding efforts will also be initiated simultaneously.

In conjunction with this new financing round, Dora Factory is also expanding its partner lineup, including the pioneering launch of "long-term quadratic funding for application chain ecosystems" for Cosmos ecosystem developers on Dora Vota.

As a publicly listed project, Dora Factory's current round of financing stands in stark contrast to the traditional primary market investment model prevalent in the crypto industry, which is often criticized for investing in projects lacking fundamentals and being overvalued. Dora Factory's new strategic financing round reflects professional investors' recognition of the strong ecosystem and influence built by its team and community over the past 24 months.

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

Tekin Salimi, founder of dao5 and former partner at Polychain, commented on the strategic significance of this investment: "Dora Factory is a key component of decentralized governance and public goods funding infrastructure for many crypto ecosystems. Many long-term teams have been undervalued during the recent bear market, but dao5 is pleased to inject new capital into Dora Factory and provide first-hand support and services to revitalize value for the Dora community."

Peter Huo, co-CIO of Whampoa Digital, added: "Dora Factory is akin to Y-Combinator in the Web3 space, but it is entirely driven by Web3 native protocols, ecosystems, and community builders in a decentralized manner. It continually proves to be a catalyst for Web3 innovation, generating significant value for every ecosystem it supports. Dora Factory aligns with our investment thesis for Web3 applications and mass adoption, and we at Whampoa Digital are excited to support and help it grow rapidly to realize its vision."

The public goods funding infrastructure built by Dora Factory is an effective response to the current trend of commercialization and exploitation of public goods within the industry. Under this trend, many institutions or projects claim to support and fund public goods, but in reality, they gain substantial benefits while the costs are ultimately 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 blockchain-native infrastructure that prioritizes fair, transparent, and sustainable funding mechanisms, which not only benefits the development of public goods themselves but also aligns more closely with the long-term interests of the community. Dora Factory's commitment to community participation in governance and its past achievements further solidify its reputation as a reliable partner among founders and the broader community. If this model can be widely adopted, it may have a profound positive impact on the entire industry.

Looking to the future, Dora Factory envisions a scenario where the profits from public good staking are used to fund research and development in cutting-edge technology fields. Dora Factory aims to support important research in key areas such as quantum computing and space exploration, becoming a leader in transforming the frontier technology community within the Web3 space.

Dora Factory's Architect Eric Zhang commented: "In the coming year, Dora Factory will expand from public good staking to the frontier technology community (Frontier Staking), bringing the best funding and governance experiences in the Web3 space to areas that significantly impact future human productivity."

As a successful example of addressing the inefficiencies of traditional funding, Dora Factory has pioneered a sustainable and impactful method of supporting public goods. With its proven track record, commitment to community engagement, and ambitious goals, Dora Factory is poised to significantly influence the entire PoS ecosystem and the landscape of decentralized governance in the coming years.

This financing, as the first round of strategic financing following Dora Factory's $17.5 million fundraising in 2021, will accelerate the infrastructure development and public goods funding process in a multi-chain world.

About Dora Factory:

Dora Factory is focused on decentralized governance infrastructure and protocol stack, with products including the flagship Public Good Staking and Dora Vota, a special-purpose blockchain designed for voting and governance, empowering the global geek movement, open-source communities, and decentralized organizations. For more information about Dora Factory, please visit dorafactory.org.

About dao5:

dao5 is an experimental cryptocurrency investment fund founded by former Polychain partner Tekin Salimi. Its initial management scale is $125 million, with the goal of gradually transforming into a decentralized investment fund.

About Whampoa Digital:

Whampoa Digital is a venture capital fund led by Singapore's Whampoa Group. Whampoa Group is a venture capital group co-founded by former Lee & Lee senior partner Amy Lee, with Lee & Lee being the law firm established by her father, Lee Kuan Yew, Singapore's first Prime Minister, and his wife, Kwa Geok Choo. Another co-founder of this investment group, Lee Han Shi, comes from a family that founded OCBC Bank, Lee Rubber Group, and other commercial companies.