What is DeSci?
DeSci stands for Decentralized Science, which is used to solve various problems encountered in scientific research: including opaque funding allocation, knowledge monopoly, and the openness of scientific research data.
VX:TTZS6308
Main features and core concepts:
Decentralized Fund Raising: Traditional scientific research funding usually comes from the government, academic institutions or large enterprises, which may be affected by political or commercial interests, and funding applications are usually time-consuming, and insufficient funding for research projects is commonplace. In DeSci, researchers can raise funds directly from the community through DAOs on the blockchain, such as using cryptocurrencies or issuing tokens for scientific research projects, so that more people can participate in and support innovative research.
Open data and knowledge sharing: DeSci encourages the storage of research data and results on the blockchain in an open manner to ensure the transparency and immutability of data and solve the current data closure problem in academia. At the same time, researchers can track the citations and use of their research through blockchain technology to ensure fair distribution of knowledge.
Incentive Mechanism: DeSci usually uses tokens or other blockchain tools as incentives to allow participants (such as researchers, reviewers, data providers, etc.) to get rewards in the system. For example, when researchers publish papers or open data, they can get token rewards to encourage more people to share scientific results.
Improve peer review: Traditional academic journals and peer review processes can be inefficient, biased, or expensive. DeSci uses smart contracts and a distributed review system to achieve a more transparent and efficient review process and allow reviewers to receive fair compensation.
NFT and Intellectual Property: In DeSci, research results can be minted into NFTs to track and manage intellectual property. For example, a groundbreaking research result can be put on the chain in the form of NFT to ensure the ownership and benefits of the original author.
The main point of DeSci is that blockchain projects must be funded first, and the development of applications is usually decoupled from the funds raised, resulting in excess funds and overvaluation. However, the opposite is true for scientific research: it is difficult to raise funds, it is difficult to see results in scientific research in a short period of time, and there is a low level of hype.
DeSci is about transferring hot money from the crypto to the field of scientific research. The narrative of this track is that blockchain can truly help scientific research projects and benefit society, which also opens up imagination space for the valuation ceiling of this track.
Decentralized science DeSci is actually not a new concept. As early as March last year, the research institution Messrai published a related report. Recently, this track has attracted market attention again, which is inseparable from Binance’s investment in BIO Protocol.
On November 8, Binance completed strategic financing for BIO Protocol. The round and amount were not disclosed. Thanks to Binance's investment, the BIO Genesis community fundraising campaign initiated by BIO Protocol instantly reached the upper limit, raising a total of US$33 million. CZ also tweeted that he would participate in DeSci's small entrepreneur gathering, and Vitalik was also at the gathering.
With Binance’s solid investment and the endorsement of two big names in the crypto, what exactly is DeSci? Which projects are worth our long-term attention?
Representative Projects
VITA
As mentioned above, Binance invested in BIO Protocol, which was created by one of the founders of VitaDAO. It can be said that the current token VITA is the most orthodox DeSci project. VitaDAO was founded in 2021 and focuses on funding and promoting early longevity science research with the aim of extending human healthy life span. As mentioned above, Vitlik and CZ participated in the DeSci party. During the party, Vitalik showed CZ VitaDAO's first longevity product, VD001, a natural high-dose spermidine supplement approved by the Thai FDA.
Not only has it been supported by celebrities in the crypto, VitaDAO received $4.1 million in financing as early as January 30, 2023, with participation from Pfizer's venture capital department, Shine Capital, L1 Digital, and Balaji Srinivasan. It is worth noting that this is the first investment by the well-known pharmaceutical company Pfizer in the Web 3 field.
Public chain: ETH
Current coin price: 6.2
Current market value: $160 million
Number of addresses holding coins: 4,076
Market value historical high: Current ATH, $160 million
RIF
It is a meme coin launched in Pump, and Pump.Science is a meme coin issuance platform launched by Molecule DAO, an organization under BIO Protocol, at the Token2049 Solana Breakpoint Conference. However, Pump.Science is not like Pump Fun where anyone can issue coins. The coin issuance project must be linked to scientific research.
Currently, the meme coins recognized by Pump.Science are only RIF and URO. RIF stands for the antibiotic "Rifampicin", which mainly inhibits the synthesis of bacterial RNA and has a significant bactericidal effect. It can treat diseases including tuberculosis, leprosy, trachoma, and Legionnaires' disease.
Rifampicin has been shown to activate cells' natural defenses against stress and damage. It has been shown to extend lifespan and improve health in worms, and while it's still early days, we don't know if rifampicin can produce similar effects in humans, but it's an exciting direction for anti-aging therapy.
Public chain: Solana
Current coin price: 0.1705
Current market value: $170 million
Number of addresses holding coins: 20,146
Market capitalization: $183 million
URO
It is the meme coin launched by Pump.Science. It is the only two officially certified coins of Pump.Science together with $RIF.
Urolithin A is a compound found naturally in pomegranates. What makes it special is that it can do a "house cleaning" for your cells. It helps clear out old, dysfunctional mitochondria so that fresh, healthy mitochondria can thrive. Think of it as a reset button for your cells, helping them to function optimally.
Public chain: Solana
Current coin price: 0.0466
Current market value: $46.6 million
Number of addresses holding coins: 12,674
Market value historical high: $60 million
I only bought RIF of these two coins, and I bought them later, but my friends in the group should have benefited from this wave. If you want to buy them, just go for the leading ones, after all, the strong will always be strong.
The overall track must have its continuity and must meet the following conditions
Continuous celebrity endorsement: This round of narrative was initiated by crypto celebrities CZ and Vitalik. If more crypto celebrities can be attracted to participate, it will help consolidate DeSci's narrative foundation and attract more capital and users.
Financing activities continue: More financing cases are needed in the future to prove the interest of investment institutions in the DeSci track. Only when institutions enter the market to build a track ecosystem can the overall DeSci fundamentals be consolidated.
The valuation of leading projects has increased: The current market capitalizations of leading projects VITA and RIF are between US$150 million and US$200 million, which is still lower than the market capitalizations of many leading projects. If the market capitalization of the leading projects can be raised to the US$5 billion range and listed on mainstream centralized exchanges, it will drive other projects to rise and confirm that the DeSci track has development potential.
