DeSci-focused DAO community funds cancer research

VitaDAO, a decentralized corporate dedicated to early-stage longevity research, funded the motorboat of a biotech company, Matrix Biosciences, dedicated to treating crab and aging diseases.

The archetypal discussions astir the usage of precocious molecular value hyaluronic acerb (HMW-HA) for anti-cancer and pro-longevity effects started disconnected successful November 2022 and gained bulk statement successful March 2023. The connection snapshot reveals that 35 members formed their votes utilizing VITA tokens.

The VITA token holders voted to hold oregon disagree with VitaDAO backing the HMW-HA crab probe venture. Source: snapshot.org

Out of the lot, 30 members supported the cause, 4 members abstained from voting, and 1 voted against the proposal. As an progressive contributor successful decentralized subject (DeSci), VitaDAO made an archetypal concern of $300,000 and plans to transportation retired further backing done tokenization of intelligence spot (IP) successful aboriginal 2024.

The HWA-HA compound is derived from the tissues of bare mole rats, a benignant of rodent that person stronger crab absorption which is liable for their higher lifespan.

Speaking to Cointelegraph, a VitaDAO spokesperson revealed that the funds person been provided to Matrix Bio by converting USD Coin (USDC) stablecoins from the assemblage treasury to the US dollar and wired to their slope account.

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Once the archetypal batch of experiments is complete, Matrix Bio volition person the enactment to rise further backing by issuing IP Tokens (IPTs) successful instrumentality for sharing governance rights successful the ongoing improvement of the IP. The adjacent circular of fundraising volition commence aft the fund for the adjacent signifier of improvement is established, expected successful Q1 2024.

VitaDAO believes modulating HMW-HA appears to beryllium a viable therapeutic campaigner successful supporting the attraction of a analyzable illness similar cancer. The DAO told Cointelegraph:

“Like astir early-stage research, it is excessively aboriginal to cognize what the result of the probe volition provide. VitaDAO believes determination is simply a precocious likelihood that the probe volition beryllium translatable to the clinic.”

While the DAO’s committedness to backing this peculiar crab probe volition beryllium connected the results obtained from the assorted experiments, VitaDAO’s assemblage treasury has successful the past funded up to $1 cardinal of a probe project’s needs earlier enlisting the enactment of nonrecreational investors and pharma stakeholders.

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