Foresight Ventures: About DeSci and BIO

Author: ian@Foresight Ventures

1. Get to know DeSci —> Question DeSci —> Understand DeSci

1.1 Getting to know DeSci

Pain points:

The lag in infrastructure for maintenance, access, ownership, and revenue distribution of IP surrounding research or knowledge has always been a pain point, especially in academia.

So, in the complex field of knowledge sharing and discovery, how to balance security, transparency, reward mechanism and accessibility is always an ongoing problem. Traditional models often rely on centralized verification systems, which can limit inclusivity and broad participation. Additionally, existing systems may not adequately reward or recognize knowledge contributions, which may impact the development of a comprehensive, collective knowledge base.

Problems solved:

The central idea that drives DeSci is that everyone has equal access to science and knowledge at any level, and the scientific research process should be open and transparent to everyone. Therefore, DeSci is committed to creating an ecosystem where knowledge contributors can be incentivized and share their research, and anyone can browse or even iterate on this content permissionless.

This creates a completely different scientific research system. In this new model:

• The allocation of funds is determined by the public through mechanisms such as DAO, which contrasts with traditional science, which is controlled by small, closed, centralized groups.
• DeSci's vision is also to promote the dynamic cooperation of various resources on a global scale, which to some extent is a breakthrough from the cooperation limitations set by centralized institutions in traditional science.
• The flow of funds is more transparent, and a more efficient economic system is explored with the support of web3, which is completely different from the time-consuming funding decision-making method in traditional science. At the same time, with the incentives of tokens and reputation, the value of peer-review is also more emphasized.
• Contributors of knowledge can transparently distribute the intellectual property they generate, unlike traditional science where intellectual property belongs to the home institution and access is opaque. DeSci also encourages the sharing of data from all studies, including unsuccessful attempts, to address the publication bias in traditional science where only experiments with successful results are shared.

1.2 Questioning DeSci

The original intention of DeSci is to build an ecosystem for scientists or scholars to share academic research and obtain ownership of research IP. For other users, the sense of participation lies more in easier access to these academic research. In essence, the academic ivory tower has not been broken, and the core players in this ecosystem are still the top scholars.

Under what circumstances would an ordinary person care about how to access an academic report more easily?

I'm afraid except for staying up late to catch up on papers in college, it will be difficult to have such a need after graduation. From a certain perspective, we must admit that the ability to contribute valuable academic IP is only in the hands of a small number of people.

But from the perspective of looking at the track and narrative, this is the problem with DeSci. He is too innocent and noble, so it is difficult to play the value that web3 can really give him, that is, community effect and efficient economic system. Looking more closely, the foundation of DeSci is not an open knowledge contribution platform, but an active ecosystem based on an efficient token system and strong community effects. The basis of this economy lies in the extensive participation of users. If users cannot truly participate in the gameplay and do not have enough motivation to hold and trade tokens, then the currency price, liquidity and economic system will not be able to support it.

Therefore, core players who are just scientists obviously do not make sense and cannot form a sustainable mechanism.

2. What kind of DeSci makes more sense?

2.1 Understanding DeSci

Science =/= Knowledge

Desci should not only be the domain of scientists, but should lower the threshold for ordinary people to access science. So try to avoid using "science" and use "knowledge" more often. Science naturally sets a threshold for DeSci, and knowledge can be data in any form and field.

Contributing knowledge in your professional field or interest is itself very attractive and easily fissionable. Therefore, the opening of the "science" landscape makes community participation possible and allows web3 to maximize its value.

I think DeSci should be a pyramid structure, dividing the participants and contributors of the entire knowledge sharing link into different levels, and each role is indispensable. As participants at the top of the pyramid, scholars contribute the core value of DeSci itself and also bring explosive points to the project. Take the scenario of new drug research and development. If DeSci can participate in or promote the launch of a certain drug, it will have a great impact on the track and projects. The volume of sound it brings is immeasurable. As participants at the bottom of the pyramid, community users also have bottom-level gameplay. They maintain the efficient operation of the entire ecological and economic system.

2.2 The cornerstone of DeSci—BIO

2.2.1 Introduction to BIO

BIO Protocol is a decentralized scientific financial infrastructure designed to promote biotechnology innovation through community collaboration. It provides the global community, including patients, scientists and biotechnology professionals, with the tools to fund, develop and govern scientific intellectual property to accelerate the commercialization of biotechnology research.

Core functions and operating mechanisms: Supporting biotechnology decentralized organizations - BioDAOs

2.2.2 BIO in-depth

1) Technical details

Bio Protocol's technology stack and architecture are designed to support the tokenization and on-chain governance of biotech IP.

• Through the development of customized public chains, we ensure that bio science technology, development, commercialization, and transaction processes are transparent, verifiable, and secure, while reducing transaction costs.
• The IP-Token mechanism is based on SC. Each IP asset has an independent token and defines its ownership and transaction rules. Users can obtain part or all of its ownership through transactions, which protects bio science research IP and at the same time contributes to the secondary market. Circulation and trading create possibilities.
• Based on the DAO architecture, members manage and fund scientific research projects through BIO token voting. Each DAO can gather specialized scientific research fields. For example, VitaDAO focuses on longevity research, CryoDAO focuses on cryonics, etc.

2) Operation mode analysis

1.BioDAO

BioDAOs are decentralized autonomous organizations within the BIO Protocol ecosystem. Each BioDAO focuses on a specific scientific field, the most famous of which is vitaDAO. BioDAOs receive ongoing funding, liquidity, and infrastructure support through the BIO Protocol to accelerate research progress and improve project success rates.

Among them, the parent platform BIO Protocol provides BioDAOs with:

1. fund: After being approved, each BioDAO will receive start-up funds from the BIO Protocol treasury. This funding helps BioDAOs obtain initial capital to support early-stage research projects and expand their impact.
2. Liquidity support: BIO Protocol is responsible for providing on-chain liquidity for BioDAO. This allows BioDAOs to focus on scientific research without worrying about market liquidity management issues. Through liquidity support, BIO Protocol helps increase the liquidity and market value of BioDAOs tokens.
3. Governance: BIO Protocol establishes a meta-governance layer by holding multiple BioDAO tokens. BIO token holders can participate in and make decisions on the operations, fund allocation and development direction of multiple BioDAOs through meta-governance. This mechanism ensures the coordination of funding flows and research priorities among BioDAOs within the ecosystem.
4. IP commercialization: BIO Protocol helps BioDAOs convert scientific research results into tradable intellectual property assets through its IP tokenization mechanism. This process allows BioDAOs to tokenize the intellectual property rights of scientific research projects and trade them on the chain, helping scientific research results to obtain early capital support and realize the market value of intellectual property rights.
5. Standardized framework: BIO Protocol provides a standard framework for the creation and operation of BioDAO, including token economics design, governance structure and data management tools. Through a standardized framework and support, BIO Protocol makes it easier to create new BioDAOs, allowing them to enter the market faster and operate effectively.

2.Curation

BIO Protocol's curation mechanism aims to select and support the most promising BioDAOs to join the BIO ecosystem. Curation is a BIO community-driven process through which community members help decide which emerging scientific organizations deserve financial support and ecological resources.

Curation process

• Submit an application: A new BioDAO applies to join the BIO ecosystem. The applied BioDAO must have a clear scientific research direction and a preliminary governance structure to ensure that it can effectively promote its research goals.
• Voting Support: BIO token holders can choose to lock their BIO tokens and gain voting rights (vBIO). vBIO holders use these voting rights to vote on candidate BioDAOs to decide whether to support their participation in the ecosystem.
• curation reward: If the application for a BioDAO is successful, vBIO holders who vote for the BioDAO can receive the following rewards:
• Voting supporters will have the opportunity to participate in the BioDAO whitelist financing and have priority in investing in the BioDAO tokens.
• Supporters will receive priority access or discounts to products, data or services provided by the BioDAO.
• Join the ecosystem: BioDAOs that successfully pass the curation process will receive initial funding and support from BIO Protocol and be included in the BIO ecosystem. BIO Protocol will continue to provide funding, liquidity and governance support.

3. Reward mechanism

Bio/Acc rewards provide rewards in the form of BIO tokens, including the following scenarios:

• Initial token auction via BIO launchpad
• Scientific research funding, i.e. the issuance of IP tokens
• Release of IP-related consumer products
• Product enters clinical trial stage

At the same time, rewards can also flow directly to users of BioDAO products:

• Participate in clinical trials or self-report health data
• Use/purchase products such as Follistatin, Vitarna, electronic implants, etc.

4.ip-token

• BioDAOs develop and hold ownership of IP tokens. Each BioDAO typically holds a portfolio of IP tokens related to its specific area of ​​scientific research. For example, VitaDAO develops and owns equity interests in IPTs of VitaRNA and VITA-FAST.
• How IP Tokens work: In addition to potential profit sharing rights, when obtaining IPTs, IPT holders can benefit from the following aspects:
• Governance Rights: Participate in key decisions related to the development, management and licensing of intellectual property.
• Priority access: Priority or preferential access to innovation, collaboration or future opportunities related to the intellectual property.

2.2.3 Why we invest in BIO

There has been no solution for how to balance safety, transparency, and incentives in the field of scientific research. BIO has built the largest DeSci platform at present, which not only ensures security and transparency, but also financializes scientific research with great financial value. It commercializes the value created by users through countless BIO subnets (eg vitaDAO) that have been screened by the community and Return users through profit sharing. Therefore, $BIO will continue to capture the value created by all DeSci subnets and is the most valuable token in the DeSci field. In the long term, people's demand for health and longevity will continue to increase. BIO has greatly lowered the threshold for participation and use in related fields, making it a project worthy of long-term bets.

The product has gone through a long period of accumulation and iteration, and star projects like vitaDAO have appeared in the ecosystem, which can prove that the product's operation model is feasible and that there is demand for the product from capital and academia. At the same time, the founding team has strong experience in scientific research and web3 fields. James is the founder of orangeDAO and also participated in YC19W as a founder; Paul is the founder of vitaDAO and molecule, and the team has the top influence in the DeSci field. .

3. More than DeSci

The imagination that DeSci brings to the industry is by no means limited to conduct research or drug discovery. As discussed before, if the scope of DeSci is limited to science, the value and scalability of this track will be greatly limited. If you add the concept of knowledge co-construction and note that knowledge here can be data of any field, any dimension, and any size, then the process of building DeSci is more like building a huge dynamic database.

How to do DeSci + AI?

Furthermore, DeSci should fragment knowledge. Rather than saying that DeSci has built a decentralized research platform, it is better to say that DeSci is creating a system in which everyone has the opportunity to participate in knowledge co-construction. This approach also naturally complements the community attributes of web3. DeSci's ecosystem will promote data organization in different fields. For example, Gym DAO brings together a group of people who are interested in fitness or have some relevant knowledge, and Longivity DAO brings together a group of people who are interested in fitness. Those interested in biomedicine, or even a DAO for bounty tasks. For example, a navigation model requires traffic flow and terrain data on different streets in an area. This is not very systematic data, but it is indeed something that retail investors can collect. These participating users may be experts or enthusiasts in this field. With the support of DeSci, the knowledge contributed by anyone has the opportunity to be continuously enriched by other contributors, and DeSci also allows the data contributed by each participant to generate value. Obtain continuous profits.

The biggest charm here is that any one person's knowledge and data must be limited, but it is undeniable that these data have great or small value. Any research conduct needs to be accumulated from the most basic knowledge. If fragmented data is collected through community co-construction to form a large-scale data set, a chemical reaction of 1 + 1 > 2 will occur.

If we really want to build this web3-based knowledge base, the most important task is to build a community and improve the user base to generate fission. Even the onboard researcher during the cold start phase is secondary. This is different from most DeSci gameplay, but I think this method is more crypto native. The motivation for retail investors to participate and hold tokens is to join data organizations and contribute data through staking to obtain incentives or pledge income. The more valuable the contributed data is, the more times the data will be cited or associated. The more valuable data will enable the corresponding array organization to obtain more external income and native incentives. Therefore, such a mechanism is motivating users. Participation also promotes data quality.

But in such a huge system, there will definitely be users who contribute little or are just trying to make money. However, the generation of these junk data will not affect the operation of the system. These users will also be allowed to provide data and participate in staking to try their luck and earn money. Click the lowest gear for community incentives.