What is Dora Factory Coin (DORA) token, crypto project?

Dora Factory describes itself as an “open source, community-driven enterprise builder” that empowers users to create and manage powerful, decentralized business organizations. Read on to find out how the Dora Factory project works and if it’s worth it.

What is the Dora Factory (DORA)?

Dora Factory is an open, programmable, multi-threaded DAO-as-a-Service framework on Substrate. Crucial schemes like quadratic voting, bond curve fundraising, all the cool features that upgrade on-chain governance can be built by developers on this infrastructure as palettes and can be rewarded in a SaaS model when the DAO launch on Dora Factories implements them.

Developed by HackerLink (hackerlink.io/en), the blockchain development platform for DoraHacks, Dora Factory’s first batch of key palettes provides blockchain-based tools such as quadratic funding, rewards, BUIDL, and online hackathons to drive open source blockchain innovation. .

Highlights of the Dora factory:

  • Dao-as-a-service: At Dora Factory, curators are free to launch the DAO and add different palettes in special ways depending on their specific needs.
  • Programmable infrastructure: To implement new features, developers can create useful palettes and add them via governance to the Dora Factory parachain runtime or Dora Factory Ethereum layer 2. DAOs manage the functionality by adding palettes as needed.
  • Powered by the developer community: Dora Factory is supported by the DoraHacks Global Hackathon series and Hackerlink scholarships and attracts hackers, cypherpunks and open source developers from all over the world.
  • On-Chain Governance Framework: Dora Factory specializes in community governance and prioritizes functionality to optimize key day-to-day processes in DAO management, including quadratic voting, sponsorship, bonuses, sponsor management, fundraising planning.

How does Dora Factory (DORA) work?

The Dora Factory consists of three parts: Dot Factory, Ethereum Factory and Virtual Bridge. Each DAO has a chest of assets. Dao stakeholders can deposit, withdraw and manage DAO assets. In Polkadot, DAO functions can be added via palettes. On Ethereum, DAO’s will deploy smart contracts for private governance through Dora Factory contracts. Dora Factory allows developers to ship custom factory pallets and contracts.

Dora Factory is set to set up a sub-factory on Ethereum and Binance Smart Chain. A sub-factory will be a series of factory contracts that produce smart contracts for individual DAOs. Before Polkadot was fully operational, the project encouraged smart contract developers to build DAO palettes on Ethereum and BDC as proof of concept. With Dora Factory Virtual Bridge. DAOs will have to choose early on which infrastructure to rely on: Polkadot, Ethereum or BSC. Depending on its relevance to these public networks.

Finally, there will be bridges connecting Polkadot replay chains to major public chains such as Ethereum and Bitcoin. Therefore, the cross chain problem is solved automatically. However, Dora Factory will build a simplified virtual bridge to bring external eco-friendly polkadot tokens for the Dora Factory parachain, allowing DAO’s to store token assets in cross vaults.

DORA token

DORA is a unit token that connects the network. DORA users and holders can wager, mine and pay DORA tokens. Developers who create are rewarded with DORA tokens. DORA’s total initial stock is 10,000,000.

Use case:

  • DAO Bet: Each DAO is created by staking 100 DORA tokens in the chain. When the DAO is completed, the DORA token placed will be issued.
  • Validator Bet, Mining and Inflation: Of the tokens generated with annual inflation, 2% will go to the Dora Factory Treasury. The rest of the DORA generated by inflation is divided between the nominator and the validator.
  • Network Fees: Pallets may be charged. DAOs must burn tokens (or pay a fee) to use the (possibly free) palettes. The network fee paid by DAO is taxed by the Dora factory. The tax is calculated pro rata for all locations.
  • Network Reward: Network Reward for Validator, Palette Developer, and Risk Generator.
  • Transaction costs: the collected transaction costs are divided between the validator and the nominator
  • Governance: The Dora Factory is run by a community of people who own DORA rather than a company.

Where can I buy the DORA token?

The DORA token can be purchased on several major cryptocurrency exchanges, including the main ones: Deepcoin, OKX, BingX, and MEXC.

Dora Factory Price Forecast (DORA)

Dora Factory price is likely to hit a high of $6.0752022 in 2023. According to our Crypto Price Prediction Index at 11,691, the price of Dora Factory (DORA) could reach a maximum level of $8,6942025, with an average trading price of $14,094. According to our Crypto Price Prediction Index, DORA is expected to break through an average price level of $20,000 in 2019.

The minimum expected value of the Dora Factory price at the end of the current year should be $13,014-14,364. In addition, DORA can reach a maximum price level of $12,474. The price of Dora Factory is expected to hit its lowest possible level of $23,004 in 17,334. According to our Crypto Price Prediction Index, DORA’s price could reach a maximum possible level of $10,000, with an expected average price of $1,000.

Conclusion

Dora Factory is one of the first open-source blockchain projects to build an open infrastructure for decentralized self-operating organizations (DAOs) on Substrate. Dora Factory’s vision is to build a DAO-as-a-Service infrastructure, equip each DAO with the right toolkits to better interact with each other, and encourage developers and hackers to make connections.

More information about DORA

* PortalCripto appreciates the quality of the information and attests to the verification of all the content produced by its team, but emphasizes that it does not make any kind of investment recommendation and is not responsible for losses, damages (direct, indirect and accessories ), costs and loss of profit.

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