Cosmos Hub Greenlights $1 Million Grant for Dora Factory’s Quadratic Funding Initiative

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

Singapore, Singapore, May 15th, 2024, Chainwire

A significant development in Cosmos has occurred with the passing of Governance Proposal No.917. This proposal, put forward by Dora Factory and DoraHacks, requested a $1 million grant from the Cosmos Hub community treasury. The funds will be used to support ten rounds of Quadratic Funding within the Cosmos Hub ecosystem over the next two years.

This proposal generated extensive discussions within the Cosmos community and received overwhelming support, with over $1 billion worth of ATOM, including major validators and core Cosmos contributors, voting in favor. With an approval rate of 91.9%, Gov Proposal 917 has become the motion with the highest approval rating in the history of the Cosmos Hub.

Following the approval of the proposal, Dora Factory and DoraHacks have announced the launch of the second AEZ (ATOM Economic Zone) quadratic funding program. This marks the beginning of a long-term funding initiative that will run from May 15, 2024, to May 2026.

The passing of Gov Proposal 917 introduces native Quadratic Funding to the Cosmos Hub for the first time.

Public goods funding is a widely discussed concept in the Web3 industry, referring to goods or services that are available for everyone to use. In the crypto space, public goods can include various elements such as blockchain infrastructure, storage, developer tools, and user-facing applications like block explorers and wallets.

Dora Factory aims to enable the large-scale adoption of public goods funding by building infrastructure to support it. Through initiatives like multi-chain quadratic funding and Public Good Staking, Dora Factory is paving the way for better collaboration among ecosystem builders and communities within the crypto space. With successful deployments in mainstream crypto ecosystems like BNB Chain, Solana, and Cosmos Hub, Dora Factory is recognized as a leader in this field.

Additionally, initiatives like the Community Incentive Fund and Anonymous Minimum Anti-Collusion Infrastructure (aMACI) are enhancing the public goods funding process and bringing more privacy and security to on-chain governance.

With strategic financing secured from dao5, Whampoa Digital, and angel investors like EigenLayer co-founder Calvin Liu, Dora Factory is well-positioned to continue innovating and addressing traditional funding challenges in the multi-chain ecosystem.

For more information, please contact Community contributor Chris Lee at Dora Factory. [email protected]

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