DoraHacks is a global decentralized developer network and open-source incentive system. Binance Labs has invested $8 million to fund strategic investments in the company. Binance Labs is Binance’s venture capital arm.

DoraHacks is a global hackathon organizer and one of the world’s most active Web3 developer communities. The site provides Web3 on-chain toolskits that help developers worldwide raise capital for their startups. More than 1000 projects from the DoraHacks network have already received more than $12 million in donations and grants worldwide in 2021.

Bill Chin from Binance Labs Fund commented on the investment.

“Backing early-stage startups and developers have always been a strategy for Binance Labs. DoraHacks has great Web3 projects and is the largest multi-chain community of developers. Binance Labs will continue to build crypto communities together with DoraHacks, as part of this investment. This will create an open-source and diverse blockchain world. As one of the initiatives, Binance Labs and DoraHacks are co-organizing Season 3 of Binance Labs Incubation Program.”
DoraHacks is partnering with Binance Labs to help them achieve their long-term goal of the Web3 community’s growth.

Incubation and funding resources, as well as grants to support Web3 startup founders in the early stages

Joint R&D on innovative decentralized governance technologies and DAO infrastructures

Strategic Partnership Between BSC (Binance Smart Chain), and DoraHacks on BSC Grants Hackathons and the integration of Dora DAO infrastructures

Dora’s mission is to create a permanent global hacker movement. The Dora ecosystem includes the decentralized open-source developer community DoraHacks, the open-source developer incentive platform HackerLink.io, the decentralized Hackathon community Hackathon DAO, the “DAO-as-a-Service” infrastructure DoraFactory, as well as dGov middlewares such as Grant Factory, DoraID, privacy voting infrastructure, the Moloch and multisig pallets.

Developers have the ability to create and fund DApps that decentralize governance for open source communities, and other future autonomous organizations (DAOs), using infrastructure from DoraHacks. At present, over 20 mainstream Web3 ecosystems – including BSC, Polygon, , , etc. – are already using Dora’s infrastructure for quadratic governance of their developer communities. DoraHacks is used by approximately 100,000 people each month from 152 nations around the globe.

Eric Zhang, Founder of DoraHacks, said: “Since 2018, DoraHacks has partnered with Binance on 15 global hackathons and grant rounds. Through DoraHacks’ developer events and grant toolkits, Binance has distributed over $2 million in funding to more than 100 teams. This new round of strategic investment will help us accelerate the innovation of developer incentive mechanisms, deliver more effective products to support hackathon organizers and Web3 open source applications, and promote Dora Factory’s infrastructure and ecosystem development. We’re happy to see Binance sharing our vision to support Web3 developers worldwide and help developers innovate freely to change the world.”

Nicole Zhang is the Investment Director at Binance Labs Fund.

“Binance Labs has always been a strong advocate for open-source culture. DoraHacks is a pioneer in the development of infrastructures for decentralized voting and funding. They also support participation in early stages open-source Blockchain projects. We believe DoraHacks’ large blockchain developer community will provide endless support to Binance Labs investment portfolio as well as our greater ecosystem.”

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