Neo Global Development has invested in Dora Factory, which will build a DAO-based voting mechanism for Neo3. Dora Factory’s DAO-as-a-Service infrastructure enables developers to build on-chain governance features.
Dora Factory is an open source, Substrate-based layer two solution seeking to build alongside various blockchains. Examples of the DAO management infrastructure it offers includes quadratic voting, grants, bounties, funding management, and fundraising support. Dora Factory is a subsidiary of Dora Hacks, a global development community that hosts hackathons for different blockchain networks.
Since 2019, Neo and Dora Hacks have collaborated in several ways. At the Dora Hacks 4th Industrial Revolution Hackathon, Neo co-founder Erik Zhang and other developers offered technical expertise at one of the sessions. Last month, Dora Factory held its first round of private sales, where Neo Global Capital, Neo’s for-profit venture capital branch, participated as an investor.
Recently, Dora Factory secured its second round of private funding with more than 25 investors, including BlackRock Capital. NGD’s investment was made via the Neo EcoFund.
The EcoFund launched in 2017, designed to assist the development and growth of projects in the Neo ecosystem. It is the funding mechanism of Neo’s EcoBoost initiative managed by NGD’s ecosystem growth department.
The full announcement can be found at the link below:
https://dorafactory.medium.com/dora-factory-closes-second-round-of-private-sale-57e44e31c038
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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