San Francisco, United States, November 8th, 2023, Chainwire

Dora Ventures is announcing the first closing of its Appchain Thesis Fund - Dora Ventures[2]. This fund dedicates its capital towards cutting-edge Appchains and related infrastructures with a primary-secondary hybrid mandate. It also emphasizes support for its portfolio on decentralization, governance and global open source developer community engagement.

Dora Ventures[2] is also the first Dora Venture fund that includes external Limited Partners (LPs), who offer strategic alliances and are committed to the long-term development of appchain innovations.

Zooming In: Focus on Appchain Infras and Appchain Ecosystems

Dora Ventures’ dedication to the Appchain sector is two-fold:

Appchain Infrastructure (Appchain Infras): Recognizing the foundational importance of robust and scalable infrastructure for Appchains, Dora Ventures[2] places a strong emphasis on investments in this area. Strong infrastructural backbones pave the way for limitless innovation.

The Appchain Ecosystem: Beyond infrastructure, Dora Ventures actively engage with and invest in the broader Appchain ecosystem, identifying the game-changers and industry-shapers of tomorrow.

Steve Ngok, Partner of DoraHacks and Managing Director of Dora Ventures, commented, "Appchains are not just inevitable; they're unfolding at an unprecedented pace. The launch of Dydx, the soaring success stories of Injective and Akash, and the highly anticipated Makerchain and Fraxchain are testaments to this. Our vision is to be at the epicentre of this acceleration."

Eric Zhang, Founder of DoraHacks, emphasized the importance of a holistic approach, stating, "While Appchains are transformative, their potential can only be fully realized with a solid infrastructure. This is why our hybrid mandate, focusing on Appchain infrastructure, is so crucial. This particular Dora Venture fund’s portfolio, which includes core assets like CosmosHub and Osmosis, echoes this commitment."

Looking Forward:

As Dora Ventures bask in this moment of achievement, its also brimming with anticipation for the future. Dora Ventures looks forward to rigorously deploying capital into more exciting Appchain opportunities in the upcoming years, further solidifying its position at the forefront of Appchain innovation.

About DoraHacks:

DoraHacks is a global hackathon organizer and one of the world's most active multi-chain Web3 developer platforms. It creates a global hacker movement and provides crypto native toolkits to help developers around the world team up and fund their ideas and BUIDLs via hackathons, bounties, grants, grant DAOs, and public good staking. By far, more than 4000 projects from the DoraHacks community have received over $40 million in grants and other forms of contributions from supporters worldwide. A large number of open source communities, DAOs, and more than 100 major blockchain ecosystems are actively using Dora's infrastructure (DoraHacks.io) for open source funding and community governance.

ContactPartnerSteve NgokDora Venturessteve@dorahacks.com+1 7373360775

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

• Arbitrum’s volumes soared over the last week.
• Revenue collected by the network grew even as overall activity fell.

Arbitrum [ARB], despite facing uncertainty over the last few months, has managed to get back on its feet. Markedly, the L2 solution’s volume rose over the last week.

Volume spikes

Recent statistics analyzed by AMBCrypto revealed a significant shift in favor of Arbitrum. The protocol crossed $2.66 billion in trading volume, surpassing Binance Smart Chain [BSC].

Notably, RamsesExchange, a decentralized exchange (DEX) operating on Arbitrum, generated a volume close to Camelot, despite having significantly lower liquidity.

But it wasn’t just Ramses Exchange that was doing well. AMBCrypto found that as per Artemis’ data, the overall DEX volumes of Arbitrum were high, due to which the L2’s TVL (Total Value Locked) also increased.

The rise Arbitrum’s TVL indicated that more assets were being stored and utilized within the network at press time.

As TVL grows, it becomes an attractive environment for more DeFi projects and users. This, in turn, can lead to a reinforcing cycle of network growth and development.

Source: Artemis

Additionally, the revenue generated on Arbitrum had also grown by 34.8% over the last month. However, the number of daily active users on the protocol had fallen by 33.4%.

Realistic or not, here’s ARB’s market cap in BTC’s terms

The increase in revenue was a positive sign for Arbitrum, indicating that the protocol was generating more income. This could attract more users and investors, thus boosting the platform’s growth. It may also signal that users were finding value in the protocol’s services.

However, the decrease in daily active users was a concerning signal. It’s important for a blockchain network to have an engaged user base for its long-term success. Only time will tell whether the drop is an anomaly, or if it is a signal of something more worrisome.

Source: Token Terminal