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Darcy | NADS & Sui pfp
Darcy | NADS & Sui
@darcydinh-bb
DeScience narrative “The traditional academic system, in its existing form, generally fails to benefit researchers or their communities sufficiently.” Big names such as Elon Musk and Peter Thiel have always noted that the current century is markedly different from the previous one, as the excitement surrounding science fiction has diminished. Many brilliant minds are now gravitating towards careers in banking, law, and the internet. Despite intellectual satisfaction derived from scientific research, it is often stressful and inadequately funded. This conservative field has encountered numerous problems that have hindered its progress for decades. For scientists, securing funding is crucial at the initial stages of research. When substantial time and resources are devoted to writing grant applications without achieving stable funding, most projects must be suspended. Financial constraints have led to many scientists choosing research projects with bias, resulting in numerous replication crises.
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Darcy | NADS & Sui pfp
Darcy | NADS & Sui
@darcydinh-bb
1.1. VitaDAO VitaDAO is one of the best-known DAOs in the DeSci space, with over 200 projects sourced, $3 million invested in research, and more than 1,300 token holders, including the pharmaceutical company Pfizer. Their token, $VITA, can be purchased using cryptocurrencies like Ethereum, and has a current market cap of $20 million. The two most recent projects added to VitaDAO’s portfolio were started in April and June of this year, and both have a timeline of two years. The maximum returns for VitaDAO token holders are still to be determined, but the DAO is already fulfilling its role in sourcing, voting on, and funding research projects. According to Paul Kohlhaas, the co-founder and CEO of MoleculeDAO, VitaDAO has achieved something that larger pharmaceutical companies like Pfizer have been trying to do for years: creating an open innovation ecosystem. This is seen as the dawn of biotech DAOs, with much more to come in this emerging space.
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