Cosmos Hub (ATOM) Approves $1 Million Grant for Dora Factory to Boost Blockchain Innovation

“`Bitcoin

  • The recent approval of Governance Proposal No. 917, involving a $1 million grant request from the Cosmos Hub community treasury by Dora Factory and DoraHacks, marks a significant event in the Cosmos ecosystem.
  • This grant will support ten rounds of quadratic funding within the Cosmos Hub ecosystem over the next two years.
  • “This proposal received one of the highest approval rates in Cosmos Hub history, with a 91.9% approval rate, showcasing the community’s strong support,” noted a key Cosmos validator.

Explore the implications of Governance Proposal No. 917 in the Cosmos ecosystem, highlighting its impact on quadratic funding and community engagement.

What is Public Goods Funding?

Public goods funding, a frequently discussed concept in the Web3 industry, refers to services or goods that are accessible to all without exclusive ownership. In crypto, this includes blockchain infrastructure, storage, developer tools, middleware, block explorers, dashboards, and user-facing applications.

Challenges in Web3 Public Goods Funding

Despite its ideal fit for blockchain’s transparency and verifiability, funding for crypto public goods faces numerous challenges, including coordination among various stakeholders like foundations, institutions, DAOs, developers, and communities, and the lack of sustainable and effective funding mechanisms.

Dora Factory: Infrastructure Targeting Public Assets

Dora Factory, incubated and supported by DoraHacks, is a leading decentralized governance infrastructure and multi-chain public goods funding protocol stack, featuring Public Good Staking infrastructure and Dora Vota, a voting and governance application chain designed to empower global hacker movements, open-source communities, and DAOs.

Conclusion

The approval of Governance Proposal No. 917 not only advances quadratic funding within the Cosmos Hub but also sets a precedent for future funding initiatives, potentially accelerating the maturity of governance and public goods financing in the multi-chain ecosystem.

“`

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Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
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