Blockchain

Dora Factory Announces Historic $DORA Airdrop to Over 1 Million ATOM Stakers in Largest MACI Voting Round Ever

on

    More in Blockchain:

    Singapore, SIngapore, June 6th, 2024, Chainwire

     

    Dora Factory, the pioneering infrastructure of decentralized governance technology and public good funding, announces the gas fee airdrop of its native token, $DORA, to all ATOM stakers on June 5, 2024. Over one million addresses are eligible to receive $DORA token, with the airdrop campaign inviting the Cosmos community to participate in the governance of its democratic public goods funding program, the ATOM Economic Zone Quadratic Funding, on DoraHacks.io. With 1.04 million addresses whitelisted, the privacy voting round implemented by the Dora team will be the largest MACI (Minimum Anti Collusion Infrastructure) voting round ever.

    1.04 million ATOM stakers are eligible for the airdrop

    On June 5, all ATOM stakers have received $DORA tokens in their wallets. $DORA is the native token of Dora Vota, a decentralized governance application chain developed by the Dora Factory using the Cosmos SDK.

    This airdrop is one of the largest in history. With over one million addresses, Dora Factory aims to mobilize the Cosmos community, known for its passion for decentralized governance, to participate in a crucial public goods governance experiment for the community.

    Empowering Community with AEZ Funding and MACI Voting

    After receiving the airdrop, Cosmos communities can participate in the ATOM Economic Zone (AEZ) quadratic funding initiative jointly launched by DoraHacks, Dora Factory, and ATOM Accelerator DAO. They can use ATOM to vote for and donate to public goods teams they value, support early-stage developers, and determine the distribution of an 80,000 ATOM and $200,000 USDC matching pool across 10 rounds of AEZ Quadratic Funding and MACI voting. The smart contracts for this quadratic voting round are deployed on the Dora Vota network, and the community can use $DORA to cover gas fees.

    This campaign goes beyond merely distributing the reward pool to early-stage projects and essential public goods in AEZ in the first round; it is a democratic governance experiment designed to mobilize community power in supporting public goods and promising early-stage developers. The quadratic funding mechanism ensures that even small donations from community members have a substantial impact.

    MACI Voting With Enshrined Privacy

    Dora Factory invites community members to participate in MACI (Minimal Anti-Collusion Infrastructure) privacy voting, distributing a $20,000 USDC prize pool to selected teams. Unlike traditional quadratic voting, this method allows voters to express their opinions on public goods without revealing their identity (address). Addresses with more ATOM staked will receive more Voice Credits (voting power).

    Through MACI voting, Dora Factory aims to introduce cutting-edge privacy-enabled voting technology to the Cosmos community. This initiative marks the beginning of integrating secure, private, and anti-collusion technologies into a wider range of governance use cases in the future.

    Dora Factory’s Dedication

    To ensure every community member can participate in MACI voting without concerns, Dora Factory will implement Dora Vota’s native Gas Station feature to cover all voting fees for the MACI voting round. This fee subsidy represents Dora Factory’s commitment to the community outlined in Cosmos Governance Proposal 917.

    A Historical Community Governance Ceremony

    With the quadratic funding module now natively implemented on Dora Vota for the Cosmos Hub, Cosmos has the potential to become one of the largest on-chain communities that supports public goods. The first round of the two-year quadratic funding plan for the ATOM Economic Zone commencing in June 2024 has attracted numerous outstanding projects and awaits the attention and support of community members.

    The Largest Privacy-Preserving Governance Experiment

    MACI implementation is a groundbreaking step for the Cosmos community, as its first privacy voting attempt. Dora Factory has whitelisted over 1 million addresses, setting a new record for the largest whitelist, and marking the largest voting experiment in MACI’s history. The Dora Factory team is excited to invite the Cosmos community to create a historic moment collectively.

    About Dora Factory

    Dora Factory is at the forefront of decentralized governance protocol stacks, providing governance and long-term incentives for the global hacker movement, open-source communities, and decentralized organizations through Public Good Staking and Dora Vota. The platform has pioneered the development of public good staking infrastructure, revolutionizing the way developers are funded long-term in the PoS ecosystem. Additionally, Dora Vota offers a comprehensive decentralized governance platform, enabling users to create programmable governance mechanisms such as MACI and quadratic voting through its open platform. This reduces the cost of decentralized governance, laying a solid foundation for its widespread adoption.

    To better understand and try the products of Dora Factory, users can visit DoraFactory.org.

    Users can visit Dora Research Blog for more details: research.dorahacks.io

     

    Contact

    Contributor
    Chris Lee
    Dora Factory
    [email protected]

    PostAd_coinrule_banner728x90

    Comments are closed.

    Fanhua Announces Changes to the Board of Directors and Management Team

    2024-10-01T20:35:00Z

    GUANGZHOU, China, Oct. 01, 2024 (GLOBE NEWSWIRE) -- The board of directors (the “Board”) of Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today announces that Ms. Hang Suong Nguyen has been appointed as the new Chairperson of the Board, effective September 30, 2024..

    Ms. Hang Suong Nguyen, Chairperson of the Board

    Ms. Nguyen has over 10 years of investment management experience. Since October 2019, she has been serving as Deputy Director of International Investment Strategy at Voyager Labs Limited, a global leader in advanced AI-based survey solutions, enabling global organizations to gain in-depth investigative insights on entities, individuals, groups and topics. She also served as vice president of Doji group (formerly TTD Technology Development and Trading Company) from 2016 to 2019. Previously, Ms.Nguyen served as head of investment at VNG Corporation from 2013 to 2016. VNG Corporation is Vietnam's leading local digital AI ecosystem, providing diverse products and services through four key business units: gaming, communications and media, fintech and digital services. From 2010 to 2013, she served in management roles for the Empower Consulting Group. Ms. Nguyen obtained her bachelor’s degree in international business from Vietnam National University in 2008 and her MBA degree from Hanoi University of Science and Technology (“HUST”) in 2009.

    The Board also announces that incumbent independent directors Mr. Yunxiang Tang and Mr. Allen Lueth, along with incumbent executive director Mr. Ben Lin, have tendered their resignations from the Board due to personal reasons, effective September 30, 2024. Additionally, Mr. Lin has resigned from the position of Chief Strategy Officer.

    The Board has appointed Ms. Jiaxing Shi as Independent Director and the Chair of the Audit Committee and Mr. Changfu Li as Independent Director and the Chair of the Compensation Committee to fill the vacancies left by the departure of Mr. Tang and Mr. Lueth, effective September 30, 2024.

    Ms. Jiaxing Shi, Independent Director and the Chair of Audit Committee

    Ms. Jiaxing Shi has served as the Investment Operations Manager at YD Network Technology Co Ltd. since March 2024, overseeing the company’s investment strategy, and financial due diligence to optimize long-term returns. Prior to this role, she served as senior audit professionals at UHY LLP and Marcum LLP from 2022 to 2024. Prior to that, she served as senior manager position in financial reporting and investor relations role at Aurora Mobile Ltd. from 2018 to 2022. She received an MBA Degree in Financial Management from Goldey-Beacom College in 2018 and a Master Degree in Accounting from St. John’s University in 2015. She received Bachelor’s Degree in Inner Mongolia University of Finance and Economics in 2013.

    Mr. Changfu Li, Independent Director and the Chair of Compensation Committee

    Mr. Changfu Li has over a decade of experience in senior management, with a focus on strategic operations and cost management across various industries. Mr. Li has served as a consulting advisor at Beijing Shanying Legal Consulting Co., Ltd since November 2023. Prior to this, he served as a procurement supervisor at Shanghai Sanqing Industrial Development Co., Ltd. from June 2010 to March 2020, where he managed procurement operations and contributed to sales strategy planning. And later he was promoted to Vice President of Administration and Purchasing Manager at the company’s Guangzhou branch in March 2020. Before that, from 2006 to 2010, Mr. Li held the position of procurement associate at Zhejiang Shalangsi Craft Co., Ltd. Mr. Li earned his bachelor’s degree in International Economics and Trade from Yanbian University in 2006.

    With the appointment and departure of these directors, the composition of the Board will be adjusted accordingly. Below is the updated list of board members:

    Ms. Hang Suong Nguyen, Chairperson of Fanhua Inc.

    Mr. Yinan Hu, Vice Chairperson and Chief Executive Officer of Fanhua Inc.

    Mr. Peng Ge, Executive Director and Chief Financial Officer of Fanhua Inc.

    Mr. Mengbo Yin, Independent Director and Chair of Nominating and Governance Committee of Fanhua Inc.

    Ms. Jiaxing Shi, Independent Director and Chair of Audit Committee of Fanhua Inc.

    Mr. Changfu Li, Independent Director and Chair of Compensation Committee of Fanhua Inc.

    Mr. Yinan Hu, Vice Chairperson and Chief Executive Officer of Fanhua, commented: “We are thrilled to announce that Ms. Nguyen has been appointed as our new Chairperson, a decision that signifies a major milestone for the Company’s strategic upgrade towards pursuing growth by harnessing the power of artificial intelligence. At the same time, we deeply appreciate the significant contributions that Mr. Yunxiang Tang, Mr. Allen Lueth, and Mr. Ben Lin have made during their tenure. As we look ahead, our commitment to our strategic goals and growth remains unwavering. With Ms. Nguyen at the helm as Chairperson, we are poised to build upon our momentum and achieve even greater heights.”

    Ms. Hang Suong Nguyen, Chairperson of Fanhua, stated: “It is my pleasure to join the Board and take on the role of Fanhua’s Chairperson. I understand the significant responsibility that comes with this position and I am confident in our Company’s future. And I look forward to working with all of Fanhua’s team members to meet challenges and achieve great success together.”

    About Fanhua Inc.

    Driven by its digital technologies and professional expertise in the insurance industry, Fanhua Inc. is the leading independent financial service provider in China, focusing on providing insurance-oriented family asset allocation services that covers customers’ full lifecycle and a one-stop service platform for individual sales agents and independent insurance intermediaries.

    With strategic focus on long-term life insurance products, we offer a broad range of insurance products, claims adjusting services and various value-added services to meet customers’ diverse needs, through an extensive network of digitally empowered sales agents and professional claims adjusters. We also operate Baowang (www.baoxian.com), an online insurance platform that provides customers with a one-stop insurance shopping experience.

    For more information about Fanhua Inc., please visit https://ir.fanhgroup.com

    Forward-looking Statements

    This press release contains statements of a forward-looking nature. These statements, including the statements relating to the Company’s future financial and operating results, are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Fanhua and the industry. Potential risks and uncertainties include, but are not limited to, those relating to its ability to attract and retain productive agents, especially entrepreneurial agents, its ability to maintain existing and develop new business relationships with insurance companies, its ability to execute its growth strategy, its ability to adapt to the evolving regulatory environment in the Chinese insurance industry, its ability to compete effectively against its competitors, quarterly variations in its operating results caused by factors beyond its control including macroeconomic conditions in China. Except as otherwise indicated, all information provided in this press release speaks as of the date hereof, and Fanhua undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although Fanhua believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by Fanhua is included in Fanhua’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F.

    CONTACT: For more information, please contact:
Fanhua Inc.
Investor Relations
Tel: +86 (20) 8388-3191
Email: [email protected]

    GlobeNewsWire News

    Recent Comments