BioDAO Litepaper
Last updated
Last updated
The legacy approach to biotech development and funding remains suboptimal and suffers from misaligned incentives, restricted access, and centralization of resources.
This results in several potential new life saving therapies failing to reach the patients and a large deadweight loss to society.
BioDAO is a global decentralized community which supports and funds promising early stage biotechnology projects from university tech transfer offices and academic lab benches to fully formed biotech companies. BioDAO members will make operational and strategic decisions. Members can join BioDAO by earning BIO tokens through contributions of work or intellectual property.
To participate and learn more, join the Discord, follow BioDAO on twitter @BioDAOxyz, and check out BioDAO website!
BioDAO will serve as the gateway to receive funding and early stage biotech development expertise supported by DAO members.
The BIO token is a valueless governance token which will allow members to participate in governance and can be earned through various contributions (e.g., deal flow, due diligence, DAO ops). The BIO token addresses the long-standing problem of equitable participation in biotech development.
The BioDAO community aims to become a platform for democratized access to talent and a permanent funding source for the biotech ecosystem. With a self-reinforcing circular economy, we dare to dream of building the first Web 3.0 biotech/pharma company that is controlled by the DAO.
BioDAO community members are at the core of BioDAO. They can vote, contribute, and earn $BIO. BioDAO will consist of 2 governance layers - strategic and operations.
Once BioDAO transitions to a fully DAO-governed model, most important decisions will be made at the strategic governance layer by voting of $BIO holders. These decisions will include funding (e.g., go/no-go on particular opportunities, funding amount), treasury diversification, governance model changes, roadmap prioritization, among other decisions. Proposals will be made by the operations governance layer as well as any BioDAO members holding a $BIO token.
Decisions at the operations (ops) layer will be run by working groups focused on Governance, Tech, Media & Communications, Biotech OPS, and Tokenomics. DAO members can decide to modify and/or additional working groups as needed.
BioDAO's native protocol token, $BIO, is the a valueless governance token. The BIO token will be used to vote on any strategic or operational decisions of the DAO. It has no value other than governance.
$BIO can be earned through various contributions (e.g., deal flow, due diligence, DAO ops).
The BIO token has several purposes:
Serve as a voting mechanism for BioDAO governance.
Capture the social value of growing the biotech ecosystem.
Distribute benefits to BioDAO contributors.
BioDAO will mint 1,000,000,000 BIO as a native ERC20 token controlled by BioDAO. The DAO may mint more tokens beyond the initial 1 billion by proposal.
These are early days of the BioDAO community and the future ahead of us is bright.
You can get involved by joining the Discord where we have lots of interesting discussions happening around DAO structure and governance, biotech project funding, and more.
You can also stay in touch on twitter @BioDAOxyz.
