DoraHacks secures strategic investment of $8M from Binance Labs

DoraHacks, an open source incentive platform and decentralized global developer community, has secured $8 million in strategic investment from Binance (BNB/USD) Labs, Invezz learned from a press release. Binance Labs is Binance’s venture capital arm and innovation incubator.

One of the most active Web3 dev communities in the world

DoraHacks is one of the world's most active Web3 developer communities and a global hackathon organizer. It helps developers around the world raise funding for their startups by providing Web3 native on-chain toolkits. This year, over 1,000 DoraHacks projects have received a total of around $12 million in grants and donations from worldwide supporters.

Bill Chin, Head of Binance Labs Fund, stated:

Nicole Zhang, Investment Director of Binance Labs Fund, said:

Eric Zhang, Founder of DoraHacks, added:

DoraHacks and Binance Labs will cooperate in the following areas in support of their long-term vision for the growth of the Web3 developer community:

Tens of mainstream Web3 ecosystems use Dora’s infrastructure

More than 20 mainstream Web3 ecosystems are currently using Dora's infrastructure for quadratic community governance, including Filecoin (FIL/USD), Solana (SOL/USD), BSC, and Polygon (MATIC/USD). DoraHacks’ 100,000 monthly active users come from 152 countries.