By Paul Kohlhaas bio/acc
Compiled by: TechFlow
New to Decentralized Science (DeSci)? Let me share how DeSci and BioDAOs work from my talk at @EFDevcon in Bangkok last week.
DeSci 2049 is a vision for the future of science that combines biotechnology with permissionless markets driven by open scientific data and free markets.
Let’s start from the beginning: Bitcoin implements permissionless currency, ETH implements permissionless code.
Many of us invest in cryptocurrencies to preserve our autonomy and the freedoms that are being taken away from us.
A similar movement is taking shape in science and medicine, as our freedom to innovate, experiment with ourselves, and communicate science is being eroded by a broken biomedical R&D system.
The current system discourages curing diseases. Goldman Sachs downgraded a biopharmaceutical company in 2018 for creating a cure for hepatitis C, questioning whether curing patients was a “sustainable business model.”
Deaths from prescription opioids are still increasing. Our system needs lifelong customers.
Scientists spend too much time looking for funding instead of focusing on scientific research. Imagine if software developers spent most of their time raising funds instead of writing code.
Much of the world's scientific talent is still underutilized.
We have failed to realize our vision of a rich solarpunk future because we have not upgraded our foundations of science and technology.
This results in a world that is more science-fiction than sci-fi.
What if we could build a world of permissionless science?
A self-sovereign science defined by open data and liquid markets designed for finding cures.
So what is the role of @Molecule_dao and @bioprotocol in this?
Molecule is a protocol that puts scientific intellectual property on the blockchain.
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, 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 in @Vikorolchuk's lab at @UniofNewcastle.
More information about VITA-FAST can be found here.
Information on $VITAFAST Token is available here.
Our team helped establish the first BioDAOs in multiple scientific fields.
When I spoke last week, the total market cap of BioDAOs in our network was less than $100 million, and now it’s over $230 million!
The data comes from here.
BIO guides scientists, patients, and biotech founders to move the scientific community on-chain, from token economics and community building to financing and liquidity management.
BIO holders vote to admit DAOs into the network, similar to a community-owned accelerator that enables outstanding teams to stand out and launch their communities on-chain.
Projects set to launch on the BIO Launchpad include @endrarediseases, @QuantumBioDAO, and @longcovidlabs.
Some new BioDAOs focus on specific patient populations, seeking solutions to their conditions and new pathways to accelerate treatment.
Curetopia (@endrarediseases) is focused on the $1 trillion+ rare disease market and is led by Y-Combinator alum, Harvard PhD, and rare disease entrepreneur @eperlste, who advanced a drug into Phase 3 clinical trials for just $5 million (a fraction of the $100 million+ it typically costs).
Long COVID Labs (@longcovidlabs) is working to accelerate the search for treatments for more than 100 million patients worldwide and is led by @rd108, a former Stanford neuroscientist who successfully self-treated Long COVID.
@QuantumBioDAO is developing quantum microscopes to observe quantum biological phenomena, led by one of the world's leading quantum biology scientists, @ClariceDAiello , PhD, MIT.
To launch the 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 now stands at over $53 million due to the DeSci token price increase. The treasury can be tracked here.
Additionally, @BinanceLabs has invested in $BIO.
As a global liquidity leader, Binance Labs will help us achieve scientific breakthroughs at an unprecedented scale.
Overall, BIO sits at the top of a network of BioDAOs, each of which is developing specific drugs and treatments as tokenized scientific intellectual property.
(VitaDAO’s portfolio is valued at over $16 million, rising significantly since these slides were used)
Each stage of drug development has historically been opaque to the public. BioDAOs aims to advance each stage 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, making it programmable, tradable, liquid, and data-rich.
In essence, IP-NFTs are containers for intellectual property.
Once the intellectual property is sufficiently verified, IP-NFTs can be divided into IPTs, which serve as governance tokens to enable individuals to actively participate in the scientific process.
IP-Tokens are the core building blocks that power shared intellectual property ownership in the DeSci Economy.
VITARNA CASE STUDY:
Backed by @vita_dao , Vita-RNA develops novel mRNA gene therapies and is led by experienced biotech founders @Mykalt45 and @aschwartzphd .
Received $300,000 in support; now has a market cap of $27 million.
More information here.
Token information can be found here.
One of Vita-RNA’s lead drug candidates showed activity in in vitro tests, driving the price of its token higher on Uniswap.
So, what’s next for BIO Protocol? Please note that all dates are subject to change.
We were inspired by the growing bio/acc movement.
The goal of bio/acc is to accelerate progress in biology and challenge many of the common beliefs we have been raised to accept about health and medicine.
We are taught from a young age to accept aging as a fact.
This fund transformation is wrong.
We must rely on companies and institutions to advance science.
The pharmaceutical industry saves lives.
If computing is the basis of intelligence, then biotechnology is the basis of life.
This is a call to accelerate the development of biotechnology.
Biotech Acceleration: Accelerating longevity, neuroscience, genetic engineering, synthetic biology, fertility and life bio/acc.
Please sign the bio/acc manifesto at bioacc.life.
We must overhaul outdated scientific institutions and processes to accelerate biomedical discovery.
and build a global scientific network in which anyone can participate.
Original link: https://x.com/paulkhls/status/1858546224514941269
