Thursday, December 7, 2023

Binance Labs invests $8 million in DoraHacks to help create a more open-source blockchain environment.

DoraHacks is a decentralized worldwide community of developers. Binance Labs, a startup incubator and venture capital part of Binance, recently provided it strategic funding worth $8 million.

Global Footprint

DoraHack organizes hackathons on a global scale. It is a community of prolific Web 3 developers. It helps developers raise funds for startups by using its on-chain tool kits. DoraHacks developers have received donations and grants worth $12 million from supporters all over the world. The donations were made for 1000 projects of its community members. Binance Labs has been supporting early-stage startup companies. It has a large multi-chain community of developers. It keeps coming up with new Web 3 projects. The company plans to build crypto groups at DoraHacks.

Diversified and Open Source Blockchain World

The goal of Binance Labs is to diversify the blockchain world with open source solutions. Its incubation program season 3 is being organized jointly with Dora. Both companies will work on a wide range of projects covering several blockchain fields. Their focus will be early-stage startups developing projects for Web 3. The startup founders will receive funding, incubation resources and grants. The projects that receive funds will develop decentralized technology solutions for governance, autonomous organization infrastructure and others.

Dora plans to develop a long-term hacker movement at a global level. Its portfolio includes DoraHacks, which is a community of developers. is its open-source incentive platform for developers. DoraFactory offers DAO infrastructure as a service. Hackathon DAO is a decentralized community promoting Hackathons. Its middleware portfolio includes privacy voting setup, DoraID, Grant Factory, multi-signature pallets, and the Moloch.

Cryptured Team
Cryptured Team
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