Original title: Decentralized science is like early DeFi in 2019: Crypto VC
Original author: Brayden Lindrea
Original source: https://cointelegraph.com/news/desci-emerging-defi-did-around-2019-andrew-kang
Translated by: Tom, Mars Finance
Andrew Kang, co-founder and partner of Mechanism Capital, stated that decentralized science (DeSci) protocols may undergo changes to existing models before developing into more market-adapted products.
Kang mentioned in a post on X (formerly Twitter) on November 24 that the status of DeSci protocols is similar to that of decentralized finance (DeFi) in early 2019—although still in its early stages and not market-validated, it has 'huge potential'.
"Everything is still primitive and experimental at the moment, but there is a fundamental consensus... that its potential is huge," Kang stated in the post.
He mentioned that the DeSci project is gradually developing and may adjust its model and products like the DeFi protocols in 2019, such as what Maker, Synthetix, and Aave did at that time, after which these projects 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: Allowing users to co-own 'future medicines'.
- Pump Science: Its platform allows trading of tokens related to longevity drugs.
- GLP1: Aimed at 'Making America Skinny Again'.
Kang revealed that Mechanism Capital has participated in BIO Protocol's recent fundraising round.
The concept of DeSci is to utilize 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 in this field include addressing the flaws of the scientific peer review system, providing cheaper genetic testing, and even treating hair loss.
DeSci is primarily dedicated to pursuing 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 and 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.
With the increasing cyber security attacks on the healthcare industry in the digital age, the emergence of DeSci is particularly important.
Over the past 18 months, there have been frequent ransomware attacks targeting healthcare companies, such as the attacks on Kaiser and Welltok, which affected 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 field of decentralized science (DeSci) stems from the integration of blockchain technology with 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 spread 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. The token surged 20 times in just two days, reaching a market cap of $181.6 million, with over 20,000 holding addresses.
2. URO: Also from the Pump.science platform, representing the compound Urolithin. The token surged 20 times 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, known as Protoken and Antitoken. Within 20 hours of launch, both tokens surpassed a market cap of $10 million, with trading volumes nearing $30 million.
4. BABY: A DeSci Meme token created with funding from AthenaDAO under BIO Protocol, issued on the Base network. The token has launched cross-chain token exchange features, with a market cap of approximately $2.23 million.
5. SCIHUB: A Meme token themed on academic freedom, which once reached a market cap of $70 million, currently around $52 million.
6. VITA: The native token of VitaDAO, focused on longevity research and funding, with a market cap of approximately $153 million.
7. RSC: The native token of the ResearchHub platform, aimed at incentivizing users for publishing 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 dedicated to funding hair loss research, with a market cap of approximately $59.6 million.
Please note that Meme tokens typically lack practical applications, have high price volatility, and require cautious investment.
