The Science DAO is a decentralized think tank, incubator engine, and accelerator platform that aims to empower inventors, entrepreneurs, and institutions to collaborate and make informed investments in a wide spectrum of technologies and life sciences.
With the explosion of Decentralized Finance, there’s also a rise in interest in DAOs or Decentralized Autonomous Organizations, where rules are encoded as a transparent computer program, controlled by the organization members without third parties.
As the rules are embedded into the code and no managers are needed, this removes any bureaucracy or hierarchy hurdles.
The Science DAO provides tools to assist investors who are interested in contributing to scientific projects and who are looking to access the investment class of private market science companies.
Its service allows investors to diversify their portfolios across a community-picked selection of private market scientific investment opportunities that help investors to unlock new and exciting opportunities for their portfolio growth.
Taking advantage of the power of Web3 technology, The Science DAO gives the investor community direct input into projects by the distribution of voting mechanisms through the $THRY tokens.
Why DAOs, Why Now?
What makes DAOs different from traditional companies is that financial transactions and rules that take place in a DAO are recorded on a blockchain.
As such, this eliminates the need to involve a third party in a financial transaction as well as simplifies those transactions through smart contracts.
The backbone of a DAO is a smart contract representing the rules of the organization and holding storage. In that, people will be able to notice when someone edits the rules because DAOs are transparent and public.
As a result, it’s easy to see that a DAO may perfectly function without legal status as it can be structured as a general partnership.
Unlike traditional organizations, DAOs have a democratized organization. In a DAO, all the members will need to vote for any changes to be implemented. A DAO is governed entirely by its members who hold its token to collectively make critical decisions about the future of the project.
So far, DAOs are being used for many purposes such as investment, charity, fundraising, borrowing, or buying NFTs, and of course, without intermediaries.
Science DAO: Areas of Focus
Today, a lot of creatives and brilliant minds have not yet received community support for their ideas.
Because some of the most innovative ideas never see the light of day or cannot access meetings, The Science DAO is designed to help foster these ideas and give everyone access to like-minded and supportive people within the DAO.
Led by a team of robust, creative, and diverse individuals to make a lasting difference in the world, The Science DAO is currently focusing on three areas:
Health and Environment
- Medical: New cures, New processes
- Genetics: Aim to tailor treatments to the individual and maximize all aspects of the body
- Nutrition: Help to maximize nutrient uptake and create more nutrient-dense food to address food security caused by a rising population
- Mycology: Studying Fungi and their use as food, medicine, and materials
- Microbiology: Use microorganisms for new physical processes and to maintain health
- Anatomy: Create new methods of investigating the structural parts of organisms, including plants
- Science of City Planning: Ideas for the cities of future generations
- Renewable Energy and Climate: Invest in new developments to aid in a sustainable future environment
- Science of waste Disposal: Create and develop biodegradable materials as well as find new ways to remove and treat waste
Computing and Technology
- Blockchain science: Ideas and integrations to optimize blockchain use
- Study: New ways to teach and learn for an ever-evolving society
- Interactive Environments: Smart systems, sensors, energy, power management
- AI and Machine Learning: Create innovative ways to bring automated experiments and capabilities forward
- National Security: Develop innovative measures to help provide a secure future
- Social computing: Develop new ways to improve quality of life, humanity, and overall well-being
Natural Science
- Astronomy: Advancements and learn about the cosmos and how to use that information to benefit humanity
- Hydrology: Find processes to increase water availability and filtration
- Material Sciences: Find new materials and discover applications for existing materials to create more resilient and efficient physical designs and inventions
- Chemistry: Create new uses for chemicals and discover new chemicals for use in organic and non-organic solutions
- Physics: Improve efficiency and discover new uses for how matter and energy interact to improve designs
- Oceanography: Find new ways to study and preserve the ocean environment for all marine species
- Radiation: Find methods to harness radiation power, protection from its harmful effects, and create safer systems to dispose of radiated materials with minimal environmental impact
- Paleontology/archeology: Investigate ancient life and civilizations more accurately, safely, and efficiently via new tools and methodologies
- Botany: Study medicinal properties and create new medicines and materials from plants
Tokenomics
The $THRY token is the native token of The Science DAO that empowers the network. Owning shares of the token means having a say in the governance or upcoming emerging technologies.
This is also a way that allows institutional and retail investors to contribute to The Science DAO, where they come together and be part of life-changing breakthroughs and inventions.
There’s a total supply of 100,000,000,000 THRY. In that, 10% Total Tax, 5% Liquidity Pool, 5% Marketing & Development, and 1.0% Max Wallet.
As The Science DAO currently runs only on the Ethereum Network, you are able to buy THRY through UniSwap or Dextools.
How Does The Science DAO Work?
Although The Science DAO will be available to retail participants on the open market, it targets participants including scientific funds, institutions, and universities, that aims to bring these institutions together to push growth and to bring emerging technologies to the masses.
In The Science DAO network, each invention would have an NFT created to represent that fundraiser. NFT sales would fund the project.
The NFT utility would be in the form of offers, such as early purchasing access for market-ready products, or having access to privileged series A venture rounds for additional fundraising.
Members of The Science DAO will be able to submit projects for funding. Although not all projects will be chosen, projects that don’t receive funding directly from the DAO will also have the potential to garner support from individuals within the DAO.
Why Do We Need DAOs Like The Science DAO?
Starting an organization with someone that involves funding and money requires a lot of trust in the people you’re working with. In fact, it’s hard to trust someone you’ve only ever interacted with on the internet.
With DAOs, you don’t need to trust anyone else in the group because there’s the DAO’s code, which is 100% transparent and verifiable by anyone.
Many brilliant minds cannot get the opportunity to showcase or build upon their innovations because of insufficient funding to bring their ideas to fruition.
Meanwhile, The Science DAO provides a place and tools for them to access like-minded and supportive people within the DAO. Not only that, but it also helps them to find investments from entrepreneurs or institutions.
Science DAO: Summary
In simple terms, a DAO is an organizational construct to align people around a common purpose and the governance token model allows for users to own a piece of the DAO they’re interacting with.
DAOs like The Science DAO not only build a DAO for Science to bring cutting-edge technology and scientific breakthroughs to the masses but also for the betterment of society and humanity.
For more info on The Science DAO, please click here!
Source: https://blockonomi.com/the-science-dao/