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What Is Dora Factory?

Feb 7, 2023
4 min read

This blog post will cover:

  • About Dora Factory (DORA
  • Where did Dora Factory (DORA) come from?
  • What are the advantages of Dora Factory (DORA)?
  • What are the disadvantages of Dora Factory (DORA)?
  • How to buy Dora Factory (DORA) on SimpleSwap?

About Dora Factory (DORA

It’s a project which aims to create an available infrastructure for DAOs on the basis of Polkadot Substrate. Dora gives an opportunity to build DAOs and meet the needs of administration, governance, collaboration etc. 

Dora Factory is a special infrastructure made for issuing protocols, instruments to support the open source communities and help devs to improve their work. Dora’s point’s to give talented people a chance to have enough freedom to launch their own products that will change the world. 

DORA is an official token of the project. Made to serve as the utility token, it drives the entire ecosystem, which, in turn, is managed by its holders. Those who own DORA can also stake, mine and even pay for various services inside the Dora Factory. The primary supply of DORA is ten million. 

Where did Dora Factory (DORA) come from?

As we check on LinkedIn, we could see that Jiannan Zhang is a founder of Dora, which in turn has occurred from the DoraHacks — a community of hackers. It was launched back in 2014. Three years later, it was considered the biggest community of devs and hackers. They organized lots of blockchain hackathons, including the 4IR, the greatest hackathon in China. 

The main idea of the Dora Factory project is to let the hacker movement improve and make futuristic tech our present. 

What are the advantages of Dora Factory (DORA)?

  1. DAO-as-a-Service
    At Dora Factory, curators are able to create DAOs and add various pallets in an ad-hoc manner depending on what they need.
  2. Infrastructure to program
    In order to add fresh features, helpful pallets can be made by devs and added to Dora parachain runtime or Dora Factory Ethereum layer-2 via governance. 
  3. Experience
    The roots of Dora go to 2014, which is a solid period of time. Founders of Dora have a massive experience and a loyal community, helping them to promote the idea of the projects to the masses. 

What are the disadvantages of Dora Factory (DORA)?

  1. Competition
    The crypto market has many projects that might become dangerous competitors. The overload is visible, and the time will tell if Dora Factory will manage to keep the positions. 

How to buy Dora Factory (DORA) on SimpleSwap?

Want to explore the Crypto World more and buy some DORA tokens? You can use SimpleSwap for that — it’s super easy, just check out the instructions below.

  1. For example, you want to swap BTC for DORA. Select the currency you want to exchange (e.g. BTC) in the first drop-down list. Then enter the amount you want to swap.
  2. Select DORA in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  3. Click the Exchange button.
  4. Enter the Recipient's Address. DORA will be sent. Be careful and make sure you use the correct address.
  5. Create the exchange.
  6. You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to DORA exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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