BioDAOs are dedicated to developing intellectual property (including research, drugs, and products) on-chain, focusing on specific scientific fields or diseases.
Author: Paul Kohlhaas bio/acc
Compiled by: Deep Tide TechFlow
Just getting into decentralized science (DeSci)? Let me share what I discussed last week at @EFDevcon in Bangkok about how DeSci and BioDAOs operate.
DeSci 2049 is a vision for the future of science that combines biotechnology with a permissionless market driven by open scientific data and free markets.
Let’s start from the beginning: Bitcoin achieved permissionless money, and ETH achieved permissionless code.
Many people invest in cryptocurrencies to maintain our autonomy and the freedoms that are gradually being stripped away.
A similar movement is forming in the fields of science and medicine, as our freedom for innovation, self-experimentation, and scientific dissemination is being eroded by an imperfect biomedical R&D system.
The current system does not encourage curing diseases. Goldman Sachs downgraded its rating in 2018 for a biopharmaceutical company that created a cure for hepatitis C, questioning whether curing patients is a “sustainable business model.”
The death toll from prescription opioids continues to rise. Our system needs lifelong customers.
Scientists spend too much time seeking funding instead of focusing on scientific research. Imagine if software developers spent most of their time raising funds instead of writing code.
Many scientific talents around the world remain underutilized.
We have failed to realize a vision of a rich solarpunk future because we have not upgraded the foundations of science and technology.
This has led to a world filled with scientific friction rather than science fiction.
What if we could build a permissionless scientific world?
A self-sovereign science defined by open data and a fluid market designed for finding cures.
So what roles do @Molecule_dao and @bioprotocol play in this?
Molecule is a protocol that puts scientific intellectual property on-chain.
BIO is a launch and acceleration engine designed for on-chain scientific communities (BioDAOs), bringing together scientists, patients, and investors.
BioDAOs are dedicated to developing intellectual property (including research, drugs, and products) on-chain, focusing on specific scientific fields or diseases.
For example, @vita_dao has funded multiple longevity science and research projects, including the VITA-FAST project at @UniofNewcastle led by @Vikorolchuk.
For more information about VITA-FAST, visit here.
For information on the $VITAFAST Token, visit here.
Our team has assisted in establishing the first BioDAOs across multiple scientific fields.
When I spoke last week, the total market cap of BioDAOs in our network was less than $100 million, and it has now exceeded $230 million!
Data source here.
BIO guides scientists, patients, and biotech founders to transition the scientific community on-chain, from token economics and community building to financing and liquidity management.
BIO holders vote to incorporate DAOs into the network, similar to a community-owned accelerator that allows outstanding teams to stand out and launch their communities on-chain.
Upcoming projects launching on the BIO platform include @endrarediseases, @QuantumBioDAO, and @longcovidlabs.
Some new BioDAOs focus on specific patient populations, seeking solutions for their conditions and new pathways to accelerate treatments.
Curetopia (@endrarediseases) focuses on the rare disease market valued at over $1 trillion, led by Y-Combinator alumni, Harvard PhD, and rare disease entrepreneur @eperlste, who pushed a drug into Phase 3 clinical trials with just $5 million (a small fraction of the usual cost of over $100 million).
Long COVID Labs (@longcovidlabs ) is working to accelerate the search for treatments for over 100 million patients worldwide, led by former Stanford neuroscientist @rd108, who successfully self-treated long COVID.
@QuantumBioDAO is developing a quantum microscope to observe quantum biological phenomena, led by one of the world's leading quantum biology scientists, MIT PhD @ClariceDAiello.
To launch this protocol, BIO recently held a Genesis event, inviting users to deposit supported DeSci tokens in exchange for BIO tokens. The Genesis event raised $33 million for the BIO treasury, which has now exceeded $53 million due to the rise in DeSci token prices. The treasury can be tracked here.
Additionally, @BinanceLabs has also invested in $BIO.
As a global leader in liquidity, Binance Labs will help us achieve unprecedented large-scale scientific breakthroughs.
Overall, BIO is at the top of the BioDAOs network, with each BioDAO developing specific drugs and therapies as tokenized scientific intellectual property.
(The portfolio value of VitaDAO has significantly increased to over $16 million since these slides were used)
Every stage of drug development has historically been opaque to the public. BioDAOs aim to advance all stages of drug development in a more open and transparent manner through blockchain technology.
At the core of this new model are IP-NFTs, which allow anyone to anchor intellectual property on-chain, giving it programmability, tradability, liquidity, and rich data.
Essentially, IP-NFTs are containers for intellectual property.
Once the intellectual property is fully validated, the IP-NFT can be split into IPTs, serving as governance tokens that enable individuals to actively participate in the scientific process.
IP-Tokens are the core building blocks driving shared ownership of intellectual property in the DeSci economy.
VITARNA Case Study:
With the support of @vita_dao, Vita-RNA is developing a new type of mRNA gene therapy, led by experienced biotech founders @Mykalt45 and @aschwartzphd.
Secured $300,000 in support; now valued at $27 million.
For more information, refer here.
For token information, refer here.
One of Vita-RNA's major drug candidates has shown activity in vitro, driving its token price up on Uniswap.
So, what’s the next step for the BIO Protocol? Please note that all dates are subject to change.
We are inspired by the growing bio/acc movement.
The goal of bio/acc is to accelerate the development of biology and challenge many of the prevailing notions about health and medicine that we have been taught since childhood.
We have been taught to accept aging as a fact.
This fund transformation is misguided.
We must rely on companies and institutions to drive scientific advancement.
The pharmaceutical industry has the ability to save lives.
If computation is the foundation of intelligence, then biotechnology is the foundation of life.
This is a call to accelerate the development of biotechnology.
Biotechnology acceleration: accelerating longevity, neuroscience, genetic engineering, synthetic biology, fertility, and life bio/acc.
Please sign the bio/acc declaration at bioacc.life.
We must fundamentally reform outdated scientific institutions and processes to accelerate biomedical discovery.
And build a global scientific network that allows anyone to participate.
Original link: https://x.com/paulkhls/status/1858546224514941269
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