Chainfeeds Summary:
Paul Kohlhaas, the founder of BIO Protocol, has written an article summarizing his speech delivered at the recent Devcon event in Bangkok. He discusses the importance of DeSci in the current challenges faced by traditional science, and shares the vision and working principles of BioDAOs.
Source:
https://x.com/paulkhls/status/1858546224514941269
Author:
Paul Kohlhaas
Viewpoint:
Paul Kohlhaas: BIO is the launch platform and accelerator for on-chain scientific communities (BioDAOs) composed of scientists, patients, and investors. BioDAOs establish on-chain intellectual property (research, drugs, products) in specific scientific domains or disease areas. For example, VitaDAO has funded multiple longevity science research projects, including VITA-FAST at the KorolchukLab at Newcastle University in the UK. Our team has helped establish the first wave of BioDAOs across a range of scientific fields. BIO guides scientists, patients, and biotech founders through the process of onboarding scientific communities onto the chain, from token economics and community to funding and liquidity, etc. BIO holders vote to elect DAOs into the network - a community-owned accelerator - enabling the best teams to rise up and guide their communities on-chain. Upcoming BIO Launchpad products include Curetopia, Quantum Biology DAO, and Long COVID Labs. These new BioDAOs focus on specific patient populations, seeking solutions and new pathways to accelerate cures for their conditions. To provide support for the protocol, BIO recently held a Genesis event, inviting users to deposit supported DeSci tokens in exchange for BIO tokens. Genesis raised $33 million for the BIO Treasury, which has now grown to over $53 million as DeSci token prices have risen. Additionally, Binance Labs Fund has invested in BIO, helping us achieve scientific breakthroughs at an unprecedented scale. BIO sits atop the BioDAO network, with each BioDAO developing specific drugs and therapies as tokenized scientific IP. BioDAOs aim to leverage blockchain technology to complete drug development stages in a more open and transparent manner. Enabling this new model is IP-NFTs, which allow anyone to anchor IP on-chain, making it programmable, tradable, liquid, and data-rich. The core of IP-NFTs is the container for intellectual property. Once IP is sufficiently validated, IP-NFTs can be decomposed into IPTs to serve as governance tokens, empowering individuals to participate actively as stakeholders in the scientific process. IP tokens are the core building blocks for driving shared ownership of intellectual property in the DeSci economy.
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