Share this article
Binance Labs Invests $8M in Hackathon Organizer DoraHacks
As part of the funding, DoraHacks will co-host the latest round of Binance Labs’ startup incubator.
By Brandy Betz
Updated May 11, 2023, 7:05 p.m. Published Nov 19, 2021, 9:00 a.m.
DoraHacks, a global hackathon organizer and Web 3 developer community, has received $8 million in strategic funding from Binance Labs, the venture capital and incubator arm of the world’s largest crypto exchange by volume.
DoraHacks provides on-chain toolkits to help developers raise funds for their startups. DoraHacks community members have received over $12 million in grants and donations so far this year, according to the company.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“Since 2018, DoraHacks has partnered with Binance on 15 global hackathons and grant rounds. Through DoraHacks’ developer events and grant toolkits, Binance has distributed over $2 million in funding to more than 100 teams,” said DoraHacks founder Eric Zhang in a press release. “This new round of strategic investment will help us accelerate the innovation of developer incentive mechanisms, deliver more effective products to support hackathon organizers and Web 3 open-source applications and promote Dora Factory’s infrastructure and ecosystem development.”
DoraHacks partner Steve Ngok told CoinDesk the funding would also help recruit more senior management to improve efficiency and accelerate development.
As part of the funding, DoraHacks is co-organizing the recently launched third session of the Binance Labs Incubation Program, an eight-week session providing growth assistance for nine startups.
Prior participants in the incubation program include Polygon and Cere Network.
Read more: PureStake Raises $6M From Binance Labs, Coinbase Ventures
DoraHacks and Binance Labs will work together on funding and supporting more early-stage Web 3 startups. The companies will also conduct joint research and development on decentralized governance technologies and decentralized autonomous organization (DAO) infrastructure. DoraHacks will work with Binance Smart Chain (BSC) on BSC grants, hackathons and integration of Dora DAO infrastructure.
“Backing early-stage startups and developers has always been a strategy for Binance Labs. DoraHacks is one of the largest multi-chain developer communities with great Web 3 projects emerging,” Binance Labs Fund head Bill Chin said in the press release.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Michael Saylor's Strategy Hangs on to Spot in Nasdaq 100 Index
The annual Nasdaq 100 rebalance saw six companies dropped and three new additions, with changes taking effect on December 22, but bitcoin treasury company Strategy hung onto its spot.
What to know:
- Strategy (MSTR) will remain in the Nasdaq 100 index despite a major reshuffle, which saw several household names dropped.
- The firm's business model, which involves stockpiling bitcoin, has drawn criticism from analysts and index providers, with MSCI considering excluding crypto treasury companies from its benchmarks.
- The Nasdaq 100 rebalance saw six companies dropped and three new additions, with changes taking effect on December 22, but Strategy's bitcoin-heavy strategy secured its spot.
Top Stories
