Cosmos Hub Approves $1 Million Grant for Quadratic Funding
Major Milestone for Cosmos Hub
A significant development in the Cosmos ecosystem is the approval of Governance Proposal No.917, granting $1 million to Dora Factory and DoraHacks. This funding will support ten rounds of Quadratic Funding in the Cosmos Hub over the next two years, marking a major milestone in the community's commitment to fostering innovation and collaboration.
Unprecedented Support and Approval
The proposal received overwhelming support, with over $1 billion worth of ATOM, including endorsements from major validators and core contributors, voting in favor. With an approval rate of 91.9%, it stands as the most endorsed proposal in Cosmos Hub's history. This funding initiative aims to launch the second AEZ (ATOM Economic Zone) quadratic funding program, running from May 2024 to May 2026.
Introducing Quadratic Funding
Quadratic Funding is a mechanism that allows token-holder communities to support early-stage projects and public goods. This approach fosters collaboration among foundations, communities, and developers. Dora Factory is at the forefront of this initiative, having successfully implemented it across multiple ecosystems, including Cosmos Hub, BNB Chain, and Solana.
Public Good Staking and Sustainable Support
Dora Factory's Public Good Staking concept provides a continuous funding stream for public goods by leveraging underlying infrastructure like validators. This mechanism has generated significant financial support, achieving a Total Value Locked (TVL) of over $400 million and providing substantial annual funding for developers.
Enhancing Engagement and Privacy
To make public goods funding more engaging, Dora Factory launched the Community Incentive Fund, partnering with top NFT projects. Additionally, they introduced aMACI, a privacy-enhancing technology to improve transparency and reduce collusion in on-chain governance and voting.
Future Directions and Strategic Growth
Dora Factory plans to explore funding opportunities in advanced technology fields, supported by strategic financing from notable investors. With the growth of Public Good Staking and the maturation of the Dora Vota ecosystem, Dora Factory is set to redefine funding solutions and governance in the multi-chain ecosystem.
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