Cosmos Hub Approves $1M Grant to Dora Factory for Quadratic Funding Initiative by Chainwire

Singapore, Singapore, May 15, 2024, Chainwire

A major event at Cosmos is the recent approval of Governance Proposal No.917: a request from Dora Factory and DoraHacks for a $1 million grant from the Cosmos Hub community treasury. This grant will support ten quadratic funding rounds within the Cosmos Hub ecosystem over the next two years.

As one of the largest treasury funding requests, this proposal sparked extensive discussions within the Cosmos community and received overwhelming support. Over $1 billion worth of ATOM, including Cosmos' top validators and core contributors, voted in favor. The approval rate reached 91.9%, making Governor's Proposal 917 the motion with the highest approval rating in the history of the Cosmos Hub.

Following the approval of this proposal, Dora Factory, in collaboration with DoraHacks, officially announced the second AEZ (ATOM Economic Zone) quadratic financing program, marking the launch of the first long-term financing initiative. This quadratic funding program will run for two years, beginning May 15, 2024 and ending in May 2026.

The passage of Governor's Bill 917 brings native quadratic funding to the Cosmos Hub for the first time.

What is the financing of public goods?

Financing public goods is a concept that is frequently discussed within the Web3 industry. Generally, public goods refer to goods or services that are available for everyone to use.

In cryptography, public goods can include blockchain infrastructure, storage, development tools, software 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.

However, web3 public goods financing also faces numerous challenges.

• Lack of coordination between the different parties involved in the financing of 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 a leading decentralized governance infrastructure and multi-chain public goods financing protocol stack, incubated and supported by DoraHacks, the public goods financing platform and industry developer. Its products include the Public Good Stake infrastructure and Dora Vota, a voting and governance application chain designed to power the global hacker movement, open source communities, and DAOs.

Quadratic Multi-Chain Finance: Aligning Communities and Ecosystem Builders

What is quadratic financing? Through native token donations, token-holding communities can support high-quality early-stage projects and public goods within diverse ecosystems, fostering better 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 quadratic multi-chain financing. It has successfully implemented native quadratic financing in numerous mainstream crypto ecosystems including BNB Chain, Polygon, Aptos, Cosmos Hub, Injective and.

Going for the public good: providing sustainable financing for public goods

In late 2022, Dora Factory introduced the concept of Public Good Stake. By operating underlying infrastructure, as validators, they earn native block rewards that are continually used to fund multi-chain developers and public goods ecosystems.

Dora Factory has promoted public good participation on over 30 major networks and ecosystem testnets, achieving a TVL (total value locked) of over $400 million, providing up to $10 million in sustainable annual funding.

In the future, Dora Factory will explore ways to use cryptocurrencies to fund cutting-edge technological fields such as space technology, quantum computing, artificial intelligence, and biomedical research.

Community Incentive Fund: Making public goods financing more fun

Dora Factory launched the Community Incentive Fund to make the process of financing public goods more attractive and fun. Major meme and NFT projects such as Celestine Sloth Collection by Celestia, Injective Ninja, Aptos Gui Inu, and Aptos Monkeys have become partners of the Community Incentive Fund. Through retroactive airdrops and gamified donations, these projects have brought more fun to financing public goods, receiving contributions and donations from nearly 100,000 unique addresses in different communities.

Anonymous Minimum Anti-Collusion Infrastructure (aMACI): Bringing Privacy Technology to On-Chain Public Goods Governance

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 at crypto 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 voter and the operator. This further improves privacy and lowers the threshold of using MACI voting. This is a significant step towards future large-scale decentralized voting systems.

Dora Vota: open infrastructure for the financing of public goods

Dora Vota is a multi-chain voting and governance infrastructure. Vote and interoperability protocols like IBC will provide modular voting and governance infrastructure, such as plug-and-play quadratic funding modules and grant distribution mechanisms. As the first permissionless app chain focused on expanding on-chain voting, Dora Vota will offer developers a valuable playing field, unlocking more possibilities for public goods financing and decentralized community governance.

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

As Dora's public good engagement grows and Vota's ecosystem matures, the team believes Dora Factory will continue to explore new solutions to the inefficiencies of traditional financing, accelerating the maturity of public goods governance and financing. in the multi-chain ecosystem.

ContactCommunity ContributorChris Leedora factory[email protected]

This article was originally published on Chainwire.