DoraHacks has completed a $20 million B1 round of financing, co-led by FTX Ventures and Libterty City Ventures

Original source: DoraHacks

Singapore time, May 18, 2022 - Decentralized global geek organization and world-leading Web3 development DoraHacks, a developer incentive platform, announced that it has completed a B1 round of financing of 20 million US dollars. This round of financing was co-led by FTX Ventures and Liberty City Ventures, with participation from Circle Ventures, Gemini Frontier Fund, Sky9 Capital, Crypto.com Capital, Amber Group and others.

DoraHacks announced last year that it has received a strategic investment of 8 million US dollars from Binance Labs, and that Dora Factory has more than $20 million in financing. Dora Factory is a "DAO-as-a-service" decentralized governance infrastructure incubated by DoraHacks. After this round of financing, the total financing amount of Dora ecological core infrastructure including DoraHacks and Dora Factory in the past 18 months exceeded 50 million US dollars (but excluding Dora ecological decentralized organizations such as Dora Grant DAO and Dora Ventures).

DoraHacks is known for advancing the open source and geek movement through global hackathons , and supported many world-class Web3 start-up projects. So far, more than 2,000 startups and developer teams have received more than 25 million dollars in funding on the DoraHacks platform.

40+ Web3 ecology including Solana, Polygon, Avalanche regard DoraHacks as a hacker The core infrastructure of Songhe community-funded projects, through cooperation with DoraHacks to reach global developers and communities.

DoraHacks has been driving key research efforts in funding technology and decentralized governance infrastructure . After launching quadratic voting and decentralized funding to multi-chain ecology and communities, DoraHacks further launched advanced decentralized governance products such as MACI (Minimized Zero-Knowledge Anti-Bribery System) and privacy voting, and it will be held at ETHDenver 2022 and OpenSea Hackathon are used.  

“DoraHacks is providing the best infrastructure for the open source community worldwide. We Our goal is to create a never-ending global geek movement. With the addition of new strategic partners, we will continue to support open source communities around the world and Hackers who focus on cutting-edge technology.” Eric Zhang, founder of DoraHacks said.

“Helping multi-chain ecological innovation has always been one of the missions of FTX”, Adam Jin, A partner of FTX Ventures said, "We believe that DoraHacks will play an important role in the Web3 world. In the future, FTX will work closely with the DoraHacks team to better support future Web3 entrepreneurs."

DoraHacks launched Dora Grant DAO, a decentralized Grant governance treasury earlier this year, and has raised more than $5 million . Dora Grant DAO is a decentralized governance organization completely independent of DoraHacks and Dora Factory, and will continue to support the Web3 open source community and the global geek movement for a long time. In addition, DoraHacks plans to launch Dora Infinite Ventures and Dora Brain Cat NFT Pass.

“At Liberty City Ventures, we have always focused on building The blockchain Web3 protocol for the business world and more industries, and DoraHacks is a key force in advancing the development of Web3 infrastructure." Partner at Liberty City Ventures, co-founder of two well-known blockchain unicorns Paxos and Lukka Emil Woods said.

Since 2017, the DoraHacks community has organized hundreds of hackathons around the world , more than 3,000 Web3 open source teams have emerged, including Ethereum expansion network Matic (2018), zero-knowledge and privacy network infrastructure Zecrey (2019), Web3 tool infrastructure ETHSign (2020), DAO and decentralized governance infrastructure Dora Factory (2021), early P2E MOBA game Theta Arena (2021), etc. DoraHacks is also co-hosting the Binance Labs Incubation Camp with Binance Labs.

“We are excited about our upcoming Dora Infinite Ventures. We will fund more Startups and open source teams in cutting-edge technology fields such as Web3, quantum computing, and space.” said Steve Ngok, partner of DoraHacks.  

About

DoraHacks is the world's leading Web3 developer incentive platform and decentralized geek organization. More than 2,000 projects have received more than $21.5 million in grants and hackathon prizes through the DoraHacks community. The DoraHacks.io platform has more than 250,000 active users worldwide. Hackathons, bounties, quadratic funding, privacy voting, and other community governance and funding toolboxes are available on the platform. In addition, more than 40 mainstream Web3 ecosystems are using Dora's infrastructure to build their open source communities.

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