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Cosmos Hub Approves $1 Million Grant to Dora Factory for Quadratic Funding Initiative

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5 months ago

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–News Direct–

A major event in Cosmos is the recent passing of Governance Proposal No.917: a request by Dora Factory and DoraHacks for a $1 million grant from the Cosmos Hub community treasury. This grant will support ten rounds of Quadratic Funding within the Cosmos Hub ecosystem over the next two years.

As one of the largest treasury funding applications, this proposal sparked extensive discussions within the Cosmos community and received overwhelming support. Over $1 billion worth of ATOM, including major validators and core Cosmos contributors, voted in favor. The approval rate reached 91.9%, making Gov Proposal 917 the motion with the highest approval rating in the Cosmos Hub's history.

Following the approval of this proposal, Dora Factory, in collaboration with DoraHacks, has officially announced the second AEZ (ATOM Economic Zone) quadratic funding program, marking the launch of the first long-term funding initiative. This quadratic funding program will span two years, starting May 15, 2024, and ending May 2026.

The passing of Gov Proposal 917 brings native Quadratic Funding to the Cosmos Hub for the first time.

What is Public Goods Funding?

Public goods funding is a frequently discussed concept within the Web3 industry. Generally, public goods refer to goods or services that are available for everyone to use.

In crypto, public goods can include blockchain infrastructure, storage, developer tools, software middleware, and user-facing applications such as block explorers, data dashboards, and wallets.

Due to its inherent transparency and verifiability, crypto and blockchain are ideal tools for funding public goods.

However, web3 public goods funding also faces numerous challenges.

  • Lack of coordination among the various parties involved in public goods funding (foundations, institutions, DAOs, developers, and communities).

  • A shortage of sustainable and effective funding mechanisms.

  • Public goods funding is often perceived as not interesting

Enter Dora Factory, which strives to build infrastructure that enables large-scale adoption of public goods funding.

Dora Factory: Infrastructure Born for Public Goods

Dora Factory is a leading decentralised governance infrastructure and multi-chain public goods funding protocol stack, incubated and supported by DoraHacks, the industry's developer and public goods funding platform. Its products include Public Good Staking infrastructure and Dora Vota, an appchain for voting and governance designed to empower the global Hacker Movement, open-source communities, and DAOs.

Multi-Chain Quadratic Funding: Aligning Communities and Ecosystem Builders

What is Quadratic Funding? Through native-token donations, token-holder communities can support high-quality early-stage projects and public goods within various ecosystems, fostering better collaboration among foundations, communities, and developers.

As the first and only team in the industry to develop and advocate for this approach, Dora Factory is a true leader in multi-chain quadratic funding. It has successfully deployed native quadratic funding in numerous mainstream crypto ecosystems, including BNB Chain, Solana, Polygon, Aptos, Cosmos Hub, Injective, and Avalanche.

Public Good Staking: Providing Sustainable Funding for Public Goods

In late 2022, Dora Factory introduced the concept of Public Good Staking. By operating underlying infrastructure such as validators, they earn native block rewards that are continuously used to fund multi-chain developers and public goods ecosystems.

Dora Factory has promoted public good staking in over 30 ecosystems' mainnets and testnets, achieving a TVL (Total Value Locked) of over $400 million, providing up to $10 million in sustainable annual funding.

In the future, Dora Factory will explore ways to use cryptocurrency to fund cutting-edge technology fields like space technology, quantum computing, artificial intelligence, and biomedical research.

Community Incentive Fund: Making Public Goods Funding More Fun

Dora Factory launched the Community Incentive Fund to make the public goods funding process more engaging and fun. Top meme and NFT projects like Celestias Celestine Sloth Collection, Injective Ninja, Aptos Gui Inu, and Aptos Monkeys have become partners of the Community Incentive Fund. Through retroactive airdrops and gamified donations, these projects have brought more fun to public goods funding, receiving contributions and donations from nearly 100,000 unique addresses across different communities.

Anonymous Minimum Anti-Collusion Infrastructure (aMACI): Bringing Privacy Technology to On-Chain Public Goods Governance

MACI is a cryptographic technology designed to maximize the detection and elimination of collusion in voting. In 2022 and 2023, the Dora Factory team collaborated with ETHDenver, 0x, and OpenSea to introduce privacy voting to crypto hackathons. MACI has significantly improved privacy and reduced collusion in on-chain governance and voting.

In 2024, Dora Factory launched aMACI, adding voter anonymity to eliminate collusion between the vote initiator and the operator. This further enhances privacy and lowers the usage threshold of MACI voting. This is a significant step towards future large-scale decentralized voting systems.

Dora Vota: Open Infrastructure for Public Goods Funding

Dora Vota is a multi-chain governance and voting infrastructure. Vota and interoperability protocols like IBC will provide modular voting and governance infrastructure, such as plug-and-play quadratic funding modules and grant distribution mechanisms. As the first permissionless appchain focused on scaling on-chain voting, Dora Vota will offer developers a valuable playground, unlocking more possibilities for public goods funding and decentralized community governance.

Recently, Dora Factory secured strategic financing from dao5, Whampoa Digital, and angel investors like EigenLayer co-founder Calvin Liu. This is the first strategic round of a new funding series since Dora Factorys $17.5M raise in 2021.

As Doras Public Good Staking grows and Votas ecosystem matures, the team believes Dora Factory will continue exploring new solutions to traditional funding inefficiencies, accelerating the maturity of governance and public goods funding in the multi-chain ecosystem.

Contact Details

Dora Factory

Chris Lee

winniedrinkwater@gmail.com

View source version on newsdirect.com: https://newsdirect.com/news/cosmos-hub-approves-1-million-grant-to-dora-factory-for-quadratic-funding-initiative-570783498

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Press Release

TycheTools Advances at the Extreme Tech SemiAI Cup

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48 mins ago

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October 25, 2024

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TycheTools is thrilled to announce that we have advanced in evaluations for the Extreme Tech Challenge Semiconductors and AI Startup Cup, sponsored by ARM and Hon Hai Technology Group (“Foxconn”). Competing in the special category for advances in Data Center Efficiency, TycheTools is driving crucial innovations to reduce the environmental impact of data centers.  

“The Extreme Tech Challenge is an incredible opportunity to connect with tech leaders and venture capitalists,” says Cristina Chu, CEO of TycheTools. “I’m excited to return to San Francisco to be part of an event that celebrates innovations in AI and sustainability. We believe in the power of technology to create a better future. Advancing in this competition is a major milestone on our journey.”

Michael O’Keeffe, Senior Vice President of Global Services at Vertiv, highlighted their collaboration with TycheTools: “Our pilot at a major telecommunications provider’s data center in Madrid demonstrated the power of TycheTools’ hybrid AI cooling control. During the peak of the Madrid summer, their solution delivered significant energy savings, improved thermal stability, and gave operators greater control—all within hours of deployment.”

TycheTools CTO and founder, Jose Manuel Moya, will be attending the announcement of finalists with Cristina at Salesforce Tower on October 28th. “Tyche,” adds Cristina, “is taking the lead on machine learning to optimize thermal environments and control cooling holistically in data centers. We’re ready to scale these solutions globally and help shape the future of sustainable data center operations.” 

About Extreme Tech Challenge (XTC) 

Founded by legendary Silicon Valley venture capitalists Young Sohn and Bill Tai, XTC is the world’s largest platform to accelerate startups addressing the UN Sustainable Development Goals. XTC provides exceptional founders the potential for global visibility, venture investment, corporate collaborations, and world-class mentorship. Since 2015, XTC finalists have raised $4.4B+ in investment capital. For more information, and for the latest news and content from XTC, visit extremetechchallenge.org 

About Vertiv 

Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to enable its customers’ vital applications to run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today’s data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries. For more information, and for the latest news and content from Vertiv, visit Vertiv.com. 

About TycheTools 

TycheTools brings together hardware, software, analytics and artificial intelligence to enable customers to automate their cooling systems, saving energy while optimizing performance. TycheTools solves the most important challenges facing today’s data center operators, whether they run a colocation, enterprise or hyperscale facility.  Our smart software manages cooling systems, so operators can deliver the tightest control to their customers and get their weekends back.  For more information, visit TycheTools.com 

Media Contact:
Company Name: TycheTools
Contact Person: Ken Dubin
Email: ken.dubin@tychetools.com
Country: Spain
Website: https://tychetools.com/

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Press Release

GS Holdings to Acquire Integrated Beverage Solutions Group, Octopus Distribution Networks, for S$11.8 Million

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48 mins ago

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October 25, 2024

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Accretive acquisition that is synergistic to the Group’s business model and expected to yield significant opportunities and additional financial benefits. Bringing a wealth of expertise and talent that enhances the Group’s leadership and experience in the F&B industry. The Group recently completed a rights issue that was oversubscribed with net proceeds of S$8.4 million raised for future expansion and working capital.

On the left: Independent and Non-Executive Chairman of GS Holdings Limited, Mr Irwin Lim

On the right: Founder and Chairman of Octopus Distribution Networks Pte. Ltd., Dato Elaine Teh

SINGAPORE, 23 October 2024 – GS Holdings Limited (“GS Holdings” or the “Company” or “伟盛有限公司” and together with its subsidiaries, the “Group”), is pleased to announce that the Group has signed a binding agreement to acquire Octopus Distribution Networks Pte. Ltd. (“Octopus Distribution Networks”), a Singapore-based integrated beverage solutions group, for a purchase consideration of S$11.8 million.

GS Holdings’ Independent and Non-Executive Chairman, Mr Irwin Lim Kee Way, said, “We are pleased to announce the acquisition of Octopus Distribution Networks, which provides the Group with immediate access to new customer base and operating scale within the beverage sector in Singapore’s F&B industry.

Led by Dato’ Elaine Teh, the team at Octopus Distribution Networks has built an exceptional business enterprise that is dedicated to operational excellence and customers satisfaction for over 13 years.

With fully in-place infrastructure, including personnel and distribution networks, Octopus Distribution Networks has differentiated itself with unique value propositions and a strong base of customers, and we believe that there are significant opportunities for growth in existing and new markets.

I trust this next step in our journey together will be incredibly positive for the Group.”

Octopus Distribution Networks’ Founder and Chairman, Dato’ Elaine Teh, added, “Today’s announcement marks a major step forward in our growth ambitions within the region’s F&B industry.

With the combined expertise, experience and resources, we will continue to build strong relationships with our customers and delivering value that consistently exceed expectations.

Together with GS Holdings, we are excited about accelerating the growth of our businesses and delivering results for years to come.”

Accretive acquisition that is synergistic to the Group’s business model and expected to yield significant opportunities and additional financial benefits

Founded in 2011 by serial entrepreneur Dato’ Elaine Teh Chooi Peng (“Dato’ Elaine Teh”), Octopus Distribution Networks has grown to become one of the leading integrated beverage solutions group in Singapore, providing a “one-stop” solutions hub, in the area of brand management, import, export, distribution, logistics and warehousing of alcoholic and non-alcoholic beverages and liquor, for both customers and beverage brand owners.

For customers, Octopus Distribution Networks represents an extensive portfolio of globally recognised beverage brands with various exclusive distribution rights. Currently, Octopus Distribution Networks has a product portfolio of more than 1,500 SKUs across approximately 200 beverage brands from 50 global brand owners. Octopus Distribution Networks also provides customised services that cater to the demands of both corporate and individual clients.

For beverage brand owners, Octopus Distribution Networks has become a trusted partner and a preferred beverage distributor in Singapore with a comprehensive distribution network comprising strategic distribution centres and third-party wholesalers in Singapore. With a deep understanding of the Singapore market, Octopus Distribution Networks also provides other value-added services, including market expansion strategies and customer engagement solutions, that aims to enable brand owners to quickly build brand loyalty and market share in Singapore.

Bringing a wealth of expertise and talent that enhances the Group’s leadership and experience in the F&B industry

Under the acquisition agreement, Dato’ Elaine Teh will become a controlling shareholder of GS Holdings and it will also bring on a professional management team with 80 years of collective experience in the beverage distribution industry to the Group.

Dato’ Elaine Teh is a serial entrepreneur with an accomplished business track record in various business ventures in Singapore, Malaysia and Australia.

Besides her current role as Founder and Executive Chairman of Octopus Distribution Networks, Dato’ Elaine Teh also holds multiple executive-level roles in various companies in different countries.

She is a Non-Executive Director of ASX-listed Australian Vintage Ltd, a leading Australian wine and drinks company, where their diversity of regions, broad portfolio of global brands, production capabilities and established winemaking pedigree have resulted in its brands being recognised and available in over 40 countries. Dato’ Elaine Teh is also the Founder & Executive Chairman of Etagreen Group in Malaysia, which is the owner and operator of a zero-waste biomass power plant in Perak, Malaysia, with assets of more than RM140 million.

In addition to her business roles, Dato’ Elaine Teh is actively involved in various business councils that nurture women entrepreneurs, promote gender diversity and inclusion, develop greater business collaborations and engagement with government agencies. Philanthropy is also something Dato’ Elaine Teh holds close to her heart, and she has generously facilitated several community building causes and initiatives across Southeast Asia with her time and resources.

Supporting Dato’ Elaine Teh as part her management team at Octopus Distribution Networks is Managing Director, Mr Matthew Ruscoe, who has been a trailblazer in Asia’s F&B and marketing industry for more than 12 years. With deep industry experience and strong regional network from his previous roles as the Regional Sales Director of Kerry Group and the Sales Director of Carlsberg Myanmar, Matthew undertakes a pivotal role in managing Octopus Distribution Networks’ marketing activities, supply chain operations and driving its strategic initiatives forward.

None of the Directors or substantial shareholders of the Company, as well as their respective associates, has any direct or indirect interest in the transaction stated here, other than through their respective shareholdings (if any) in the Company.

About GS Holdings Limited

(Bloomberg Code: GSHL:SP / Reuters Code: GSHO.SI / SGX Code: 43A)

GS Holdings Limited (“GS Holdings”) was incorporated in Singapore on 19 September 2014 and listed on Catalist on 18 January 2016.

With an aim to diversify its business model and create additional streams of income, GS Holdings has expanded into various business ventures in the food and beverage (“F&B”) industry. To harness its growth opportunities, GS Holdings is looking to further expand its brand presence across Asia and beyond via new franchising, licensing and distribution models.

For more information, please visit https://gsholdings.com.sg/.

This press release is to be read in conjunction with the Company’s announcement released on 23 October 2024, which can be downloaded via www.sgx.com.

Issued on behalf of GS Holdings Limited by 8PR Asia Pte Ltd.

Media Contact:
Company Name: 8PR
Contact Person: Alex Tan
Email: alex.tan@8prasia.com
Country: Singapore
Website: https://gsholdings.com.sg/

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Press Release

Shared Pets LLC Launches Revolutionary High-Tech Products to Enhance Pet Care Experience

Published

8 hours ago

on

October 24, 2024

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United States, 24th Oct 2024 – Shared Pets LLC, a leading innovator in the pet care industry, is excited to announce the launch of its latest line of smart, high-tech products designed to improve the lives of pets and their owners. Focused on merging advanced technology with pet care, Shared Pets LLC is committed to creating solutions that offer convenience, entertainment, and health benefits for pets and their families.

The company’s mission is clear: to enrich the bond between pets and their owners by offering innovative products that simplify daily care routines and enhance the quality of life for both. Each product in Shared Pets LLC’s collection is designed with the modern pet parent in mind, combining technology and functionality to make pet ownership more enjoyable and hassle-free.

A Vision for Enriching Pet Lives

Shared Pets LLC strives to bring the latest advancements in technology to the pet care sector, ensuring pets receive the best care possible while strengthening the connection between pets and their families. The company meticulously designs and selects its product range to meet the highest standards of quality, innovation, and usability. From smart feeders to health monitoring devices, Shared Pets LLC aims to make every moment spent with pets more rewarding.

“Our mission is to provide pet owners with high-tech solutions that improve their daily interactions with their pets,” a spokesperson for Shared Pets LLC shared. “We recognize the deep bond between pets and their families, and we want to support that relationship with products that offer both practical benefits and joy.”

Innovative Product Offerings for Modern Pet Owners

Shared Pets LLC’s product line includes an impressive range of high-tech pet care tools, such as smart feeders, interactive toys, GPS trackers, and health monitoring devices. These products are designed not only to improve pet well-being but also to provide peace of mind and convenience for pet owners.

  • Smart Feeders: These innovative feeders allow pet owners to manage and monitor their pet’s meals remotely, ensuring proper portioning and timely feeding, even when they are away from home.
  • Interactive Toys: Designed to keep pets mentally stimulated and entertained, these toys offer interactive features that engage pets, helping reduce boredom and anxiety.
  • GPS Trackers: These devices provide pet owners with real-time location tracking, ensuring the safety and security of their pets wherever they may roam.
  • Health Monitoring Devices: Shared Pets LLC’s health-focused devices help pet parents keep track of their pet’s physical activity and well-being, allowing for early detection of health issues and promoting overall fitness.

Crafted with Premium Materials

All Shared Pets LLC products are handmade using high-quality materials to ensure durability, comfort, and safety. The company places a strong emphasis on creating products that meet the highest standards of reliability while maintaining an aesthetic appeal that suits both pets and their owners.

Bringing the Future of Pet Care Today

Shared Pets LLC is dedicated to pushing the boundaries of pet care by leveraging cutting-edge technology to simplify pet ownership and create more interactive experiences. The company invites pet owners to explore its innovative products and discover how technology can enhance the care, safety, and happiness of their pets.

For more Information visit https://sharedpets.com 

About Shared Pets LLC

Shared Pets LLC is a technology-driven company that specializes in creating high-quality, innovative pet care products. Focused on merging the latest advancements in technology with practical pet care solutions, Shared Pets LLC aims to enhance the bond between pets and their owners while providing products that are both functional and enjoyable.

Media Contact

Organization: Shared Pets LLC

Contact Person: PR Contact

Website: https://sharedpets.com/

Email: Send Email

Country: United States

Release Id: 24102418970

The post Shared Pets LLC Launches Revolutionary High-Tech Products to Enhance Pet Care Experience appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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