Hacking has many benefits for projects looking to innovate. DoraHacks, a global hacker movement and Web3 developer incentive platform is one such “good” hacker-oriented initiative. The team raised $20 million to expand its platform and incentivize more people to participate.
A Big Step For DoraHacks
на DoraHacks initiative has gained strong momentum since its inception. Its primary purpose is to aid Web3 initiatives through hackathons and grant programs. So far, the team has curated the world’s biggest Web3 startups, spanning over 2,000 partners and developer teams. Those efforts have raised $25 million in grants through the DoraHaks platform, further solidifying the project’s market position.
Furthermore, several dozen Web3 ecosystems have embraced DoraHacks as a core partner in hackathons and community grant programs. Partners include Solana, Polgon, Avalanche, etc. These are all top-tier blockchain and crypto projects today, thanks to a forward-thinking approach to accessing a global community of developers and builders.
The decentralized web, or Web3, will only be as powerful as the technology it runs on. Moreover, it puts a substantial emphasis on decentralized governance, which requires robust infrastructure. DoraHacks has introduced quadratic voting and decentralized grants to multi-chain communities and zero-knowledge collusion-resistant voting. Those latter developments were showcased during the ETHDenver 2022 and OpenSea hackathons this year.
Furthermore, the DoraHacks initiative received a boost through the launch of Dora Grant DAO. The Decentralized Autonomous Organization secured $5 million from over 30 partners to provide grants to post-hackathon-pre-investment stage projects. Later this year, the team will add the Dora Infinite Fund to its arsenal.
Raising An Extra $20 Million
The DoraHacks initiative has been successful at raising funds. It secured close to $50 million in the past 18 months, including $8 million in strategic funding in 2021 and $20 million through Dora Factory, the DAO-as-a-service incubation venture. This week, the team secured $20 million in Series B1 funding from FTX Ventures, Liberty City Ventures, Gemini Frontier Fund, Sky9 Capital, etc.
FTX Ventures Partner Adam Jin comments:
„Зајакнувањето на иновациите со повеќе синџири отсекогаш бил наш мандат во FTX. Веруваме дека DoraHacks ќе продолжи да игра клучна улога во Web3, а FTX тесно ќе соработува со тимот на Dora за да ги поддржи основачите на стартапи“.
Similar sentiment is echoed by Liberty Ventures Partner Emil Woods:
„DoraHacks е клучен за унапредување на развојот на инфраструктурата за Web3. Во Liberty City Ventures, фокусот отсекогаш бил на групи кои се градат врз ветувањето за блокчејн протокол и Web3 за вистински бизниси и традиционални индустрии. Очекуваме зголемен ангажман со нашите портфолио компании како што расте екосистемот“.
Through these multiple rounds of funding, DoraHacks was able to incubate 20 different projects. That list includes Zecrey, Thetan Arena, ETHSign, and others. Additionally, DoraHacks is the co-host of the Binance Labs incubation program, which recently welcomed its fourth class of participants.
Одрекување: Овој напис е даден само за информативни цели. Не е понуден или наменет да се користи како правен, даночен, инвестициски, финансиски или друг совет.
Source: https://cryptodaily.co.uk/2022/05/dorahacks-secures-20-million-funding-from-ftx-ventures-and-others