DAO’s are member-owned communities without centralized leadership. They are internet-native businesses owned by its members- Eretheum.org
In my opinion, Web3 and longevity are the 2 most promising frontiers. @vita_dao sits right at the intersection of Web3 and longevity. @balajis has mentioned that he is “watching VITADAO closely” & @VitalikButerin has spoken about it too. So how does one make sense of VITADAO? 🧵
2/ Longevity research is aimed at developing therapeutics to slow or reverse aging. Aging is the biggest reason for onset of diseases such as cancer & atherosclerosis. If we can target the biology of aging, we can prevent onset of diseases and extend human lifespan & healthspan
3/ VITADAO’s mission is “to extend human lifespan by researching, financing, and commercializing longevity therapeutics in an open and democratic manner.”
4/ You can become a member of VITADAO by holding VITA tokens. VITA tokens can be purchased or they can be earned through contribution of work
5/ You can help in the functioning of VITADAO by contributing work – code, content, science proposals etc. In exchange, you will be rewarded with VITA tokens
6/ By being a member of VITADAO, you will be supporting the funding of longevity research. You also get to invest in early-stage biotech with the potential to make significant returns on your investment
7/ Through VITADAO, you get to invest in early stage pharma research. There is currently no other vehicle (that I know of) that will let you do that. Investing in early stage pharma has in the past been restricted to biotech VC’s or pharma companies
8/ The decision to fund research projects is made democratically. Anyone can pitch a research proposal to VITADAO members who then vote on whether to fund the proposal or not. The decisions are not being made behind closed fancy offices by a few men in black suits
9/ As a VITA token holder, you can make money if your token goes up in value. There are high chances that the value of the token will go up if the DAO treasury grows in value. Essentially, you should care about how VITADAO will generate money and value. Let’s see how:
10/ In exchange for funding the research lab to work on a new longevity therapeutic, VITADAO gets access to Intellectual property (IP) rights. These rights grant VITADAO exclusive license to commercialize the research and develop drugs
11/ Vitadao can use @Molecule_to’s technology to hold IP rights in the form of NFTs – think of it as a digital version of the IP. These IP NFTs can be sold to pharma companies and 3rd parties to generate income
12/ VitaDAO members decide how to distribute income generated from successful IP monetization. One idea could be fractionalizing the IP further to enable more people to participate through investing small sums of money
13/ The point of buying VITA tokens is not speculation or day-trading. Rather, it is to support promising longevity projects and participate in the downstream value creation
14/ The most beautiful thing about VITADAO: Consumers of therapeutics can be investors in therapeutics. “Imagine research on a new breakthrough insulin treatment funded by diabetics who believe in it and stand to benefit the most from it” – VITADAO whitepaper
15/ To summarize, @vita_dao is member-owned and funds longevity research in an open and democratic manner
18/ Last thought: Ponder on the beauty of DAO’s. Isn’t it amazing to be part of an organization that is owned by its members? You get to be part of each decision by voting on them and everything is decided in a democratic manner. See @cdixon’s work for more on this
19/ The future is what the past was supposed to be. For the people, by the people.
Follow @livelongerworld