What is Dora Factory (DORA)?
DORA is the native token of the Dora Factory crypto project, which is an open-source DAO-as-a-Service infrastructure. The platform was developed on Substrate by HackerLink. It aims to empower and secure future organizations or ventures by creating tools to support hackers who can help these ventures thrive.
At the Dora Factory, you can easily launch DAOs based on your individual needs. The platform provides its users with all the tools they need to incentivize hackers and developers to take an interest in their projects. In essence, it aims to optimize and prioritize daily processes in DAO management.
Check out the Dora Factory price chart above to see the live DORA price.
There are three components on the Dora Factory – a Polkadot factory, an Ethereum factory, and a virtual bridge. Pallets on Polkadot are used to add DAO functionalities. Similarly, individual governance smart contracts on Ethereum are used for that as well. The virtual bridge, though, is meant to connect Polkadot with other public chains like Bitcoin or BSC, and to solve cross-chain issues.
Concerning the aforementioned Polkadot pallets, DAOs can apply these pallets based on their individual needs. They can choose from voting pallets, fundraising pallets, incentive protocol pallets, and dispute resolution pallets. Each of these pallets also breakdown into subcategories of more pallets. In order to motivate users to create pallets, the Dora Factory rewards developers with DORA tokens.
Dora Factory Token
The initial use case of DORA tokens is governance. Though, besides that, DORA coins can also be utilized for staking, mining, paying for services, and rewarding network participants.
While most crypto tokens are created to act as a method of transaction in the public network or physical world, this is not the case with DORA. The Dora Factory token was created for convenient transactions within Dora Factory itself.
Interested in purchasing Dora Factory coins? Before doing that it would be wise to analyze the main trends of the DORA price changes. You can use the Dora Factory price chart above to do that.
Dora Factory Governance
The Dora Factory is entirely driven by the community. However, there are two governing bodies in the Dora Factory – Governance DAO and the Council. Holders of DORA tokens make up the Governance DAO. The Council, on the other hand, is made up of the core development team that is responsible for the development of the project.
Anyone who is a holder of the DORA token is eligible for voting rights, meaning they can vote to make changes to the network.