Andrew Kang believes that decentralized science (DeSci) protocols currently resemble decentralized finance (DeFi) from 2019, possessing enormous potential. The potential of DeSci: DeSci projects are gradually evolving and may adjust their models and products like early DeFi projects. Interesting DeSci projects: Projects like BIO Protocol, Pump Science, and GLP1 are currently the most interesting DeSci projects. Applications of DeSci: DeSci aims to leverage blockchain technology to incentivize community-driven scientific research and collaboration across multiple fields. Market of DeSci: Currently, the total market cap of DeSci is approximately $1.2 billion, with OriginTrail (TRAC) leading in market cap.
Andrew Kang, co-founder and partner of Mechanism Capital, stated that decentralized science (DeSci) protocols may undergo changes to existing models before evolving into products more suited to the market.
Kang mentioned in a post on X (formerly Twitter) on November 24 that the state of DeSci protocols is similar to decentralized finance (DeFi) in early 2019 — although still in its early stages and untested by the market, it has 'huge potential.'
"Everything is still very primitive and experimental, but there is a fundamental consensus... that its potential is enormous," Kang stated in the post.
He mentioned that DeSci projects are gradually developing and may adjust their models and products like the practices of Maker, Synthetix, and Aave at that time, which later achieved scalability.
Kang particularly noted that the most interesting DeSci projects he found include BIO Protocol, Pump Science, and GLP1.
Source: Andrew Kang
- BIO Protocol: Allows users to co-own 'future drugs.'
- Pump Science: Its platform allows the trading of tokens related to longevity drugs.
- GLP1: Aims to 'Make America Skinny Again.'
Kang revealed that Mechanism Capital has participated in the recent funding round of BIO Protocol.
The concept of DeSci is to leverage blockchain technology and its related elements (such as tokens, NFTs, and decentralized autonomous organizations DAO) to incentivize community-driven scientific research and collaboration.
The goals of this field include addressing flaws in the scientific peer review system, providing cheaper genetic testing, and even treating hair loss.
DeSci primarily aims to pursue truth through 'citizen science' while rejecting the influence of institutions such as large pharmaceutical companies.
The industry has emerged in recent years as participants in related fields seek new, more efficient ways to combat infections and diseases.
DeSci may make data more accessible to researchers, medical professionals, and their patients while utilizing the security and transparency of blockchain.
As cybersecurity attacks in the healthcare industry increase in the digital age, the emergence of DeSci is particularly significant.
In the past 18 months, ransomware attacks targeting healthcare companies have been frequent, such as incidents affecting Kaiser and Welltok, impacting 13.4 million and 8.49 million people respectively, exposing sensitive personal and health-related information.
Currently, the total market cap of DeSci is approximately $1.2 billion, led by OriginTrail (TRAC) with a total market cap of $374.9 million; followed by Rifampicin (RIF) and VitaDAO (VITA) with market caps of $133.1 million and $124.7 million respectively (Data Source: CoinGecko).
Top ten DeSci tokens by global market cap (ranked by market cap): Source: CoinGecko
Editor's note: DeSci and Meme
The rise of Meme tokens in the decentralized science (DeSci) field stems from the fusion of blockchain technology and scientific research. By issuing Meme tokens, DeSci projects aim to attract community attention and funding support to promote the decentralization and democratization of scientific research. This trend reflects the blockchain community's support for scientific research and innovative attempts to disseminate scientific concepts through Meme culture.
In November 2024, Meme tokens in the DeSci field gained widespread attention, here are some notable projects:
1. RIF: Launched by the Pump.science platform, representing the antibiotic Rifampicin. This token increased by 20 times in just two days, with a market cap reaching $181.6 million and over 20,000 holding addresses.
2. URO: Also from the Pump.science platform, representing the compound Urokinase. This token saw a 20-fold increase within two days, with a market cap of approximately $63 million and over 10,000 holding addresses.
3. ANTI and PRO: Quantum Meme tokens launched by the BIO ecosystem, namely Protoken and Antitoken. Within 20 hours of launch, both market caps exceeded $10 million, with trading volume approaching $30 million.
4. BABY: A DeSci Meme token created with funding from BIO Protocol's AthenaDAO, issued on the Base network. This token launched a cross-chain token exchange feature, with a market cap of approximately $2.23 million.
5. SCIHUB: A Meme token themed around academic freedom, with a peak market cap of $70 million, currently about $52 million.
6. VITA: The native token of VitaDAO, focused on longevity research and financing, with a market cap of approximately $153 million.
7. RSC: The native token of the ResearchHub platform, used to incentivize users for posting quality content on the platform, with a market cap of approximately $90 million.
8. ATH (AthenaDAO): A DeSci project focused on women's reproductive health, with a market cap of approximately $8.2 million.
9. GROW (ValleyDAO): A DeSci project focusing on synthetic biology and ecological protection, with a market cap of approximately $8 million.
10. HAIR (HairDAO): A DeSci project focused on funding hair loss research, with a market cap of approximately $59.6 million.
Please note that Meme tokens usually lack practical applications, have high price volatility, and investment should be approached with caution.
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