Accelerating Science with On-Chain Liquidity & Incentives - Tokyo 2024

okay next up we have kba gateau um from a protocol developer from molecule and he will be discussing accelerating science with onchain liquidity and incentives hello how is everyone uh so this is a kind of a mouthful I I'll be explaining over the course of talk what all of these words mean um but I think the main point I want to take away from this um is that we are really at a molecule and biod XYZ kind of talking a lot of things that you guys have been discussing over the course of the day which is intellectual property and financialization and liquidity within the G ecosystem um and that's exactly what we're building at bio so I'm really interested to hear about your guys' feedback and talk to you guys about what you think about the protocol because we're kind of Designing it for a lot of the problems that you guys have uh demonstrated today um so bi XYZ um as has been mentioned over the course of the day in the last talk is an accelerator for different biod Dows within the D ecosystem helping them figure out what kind of science to in invest into I'm helping the scientists kind of integrate with the crypto ecosystem and then um helping them actually like start the startups develop products and things like that and so bio we're moving away from this kind of more formal accelerator program into an onchain smart contract based protocol um that is this liquidity uh protocol for uh helping the dside Dows with their token token economics boom there we go cool um so yeah bio and molecule our main goal is to change how we're investing into early stage science so a lot of lot of people when they think about incentives they think about a payment like we want you to do something so we'll just pay to do that and they think of that as like the main incentive mechanism that's available um but what I really find interesting about molecule and why I went to go work there is because by tokenizing intellectual property they're creating this new incentive structure for people to invest into early stage science or to fund early stage science by giving people a profit motive so you don't like to pay people to invest into the science the investing into the science itself is the incentive right um and by doing this on chain with tokens uh we have this open source model where anyone anyone can uh create the intellectual property and tokenize it and also invest into it so we're opening up the possibilities of what science gets funded and who can fund that science uh which also who can fund science changes what types of things get funded oops wrong way um so I won't go into this because you guys did a very good job of explaining this over the course of the day but intellectual property has a lot of problems in the traditional World um it's very static it's hard to know who owns what or it's hard to do things with it um if someone that owns IP doesn't want to license it to you um it's hard to know if it's available for license and how to actually engage with them things like that um and they're very liquid because of this it's hard to actually um engage in deals and um license it and things like that um and then another kind of important part with the traditional IP world is like the financial models that you have also affect the actual products or companies that get started um so this is an example for kind of software and VCS um but there is some analogy to biotech I don't know exactly what I'm new to the biotech World um but with software or service models VC's saw this like very scalable thing and they all want like an THX they want something that can just be reproduced automatically digitally and then that affected what types of startups and companies got funded because the VCS wanted this like one specific model um and so that's why you get you know dog walking applications when we really don't need 10,000 dog walking applications that's super scalable but that's the type of investment that the investors wanted so that's the type of thing that got the money and so why having intellectual property be tokenized and available on chain for anyone to invest into is because now we can change what actual science gets funded and what companies then get funded so we're Revolution how uh intellectual property works and what kind of Science Now gets created and we're creating permissionless science with biot XYZ um so right now it's still a very slow and cumbersome process uh to do a biotech startup in general and also do a crypto startup um and so doing biotech and crypto at the same time is obviously super difficult and so by creating this open source protocol and uh creating incentives and liquidity around it we are trying to make it more permission permissionless so that anyone can uh participate in this economy uh so ipfs I also won't go into this because you guys did a great job earlier um but the basics are it's this token that's on chain that you can transfer you can invest into it you can um do any type of like smart contract based applications and business logic and so this is kind of like the core building block uh for the D ecosystem and then also for bi XYZ this is what all the the biod Dows that we are accelerating are using as a kind of funding model and so why ipt IPS are great is because they basically open source collaboration uh because they're onchain and they're permissionless and they're programmable anyone can interact with them uh me as a developer I can even if I didn't work at molecule I could build some application for V just a smart contract and anyone could automatically start interacting with that I could create my own incentive structures if I wanted to I could have it so that uh any scientist could um deposit their ipts and get some reward for me to then like utilize it and to license it from them or I could pay people to uh allow me to access the data from the ipts and things like that without anyone else needing to kind of be involved so we're opening up the playing field for what's possible and who can interact and then the the value is still flowing back to the the token model um and to the investors into that token um so what do we actually mean by ipts I don't think anyone actually mentioned a specific use case today um so V toast was the first ever ipt that was launched last year um and it was over subscribed by I think it was, 1600% do we have that number there 1700% yeah um and so they had about half a million dollars of investors that wanted to um engage with the the token sale um which was oversubscribed and this has been come like yeah the most successful use case for IPs and a model for how we see these biod Dows um and the onchain on onchain science economy developing over time um and so kind of like the trajectory of what happened with vast was there was like this initial auction which was over subscribed like we showed um and then they immediately put it into the liquidity pool um and then there's this kind of price Discovery phase where other people that weren't uh Vita token holders that couldn't directly uh engage with the the primary auction now tried to buy in on the secondary Market through Unis swap um and then as the the project kept developing as more research kept going through the um the the science and the um yeah the science and research process more people started to see the project and started investing and then the price went up and so uh you can kind of see this is like the stage of onchain Science and how people are interacting with it over their lifetime and so we want more of this um so at B XYZ we've started six STS you seven if we include cerebrum which I don't think is on here yeah cerebrum is part of cohort 2 so they're not listed um but we are basically starting these new bodas so we can bring more ipts on chain more science on chain and get more investment dollars um to allow more acceleration um this say exact slide has already been presented so I won't go into it um but basically you can see that this is like the the funding model and the sustainability model for these bows they invest into these ipts um and then there there's research that happens ideally they're monetizing this IP and then those proceeds go back to the dowo so they can invest into more uh research and so bio has been pretty successful with this model so far uh We've started six STS like we just showed the total market cap of all these Dows is uh about $100 million currently prices have gone down um um and they've all the Dallas have raised about $10 million in total from investors um through both their primary initial raises and then then follow on OTC rounds and we've been featured in things like nature um Stanford law review uh we've got an investment from like fiser and uh nardis or like like more traditional Pharma companies and bellagi Brian Armstrong and these other prominent crypto uh thought leaders have also become interested in dii and are becoming more involved uh CZ the founder of binance his new startup is specifically focus on Di and so we're seeing the D system having gone from basically nothing five years ago to now being this uh industry on its own that has like a pretty substantial market value but again yeah it's still super hard a lot of these Dows are still struggling to actually um invest into the science monetize the science and kind of create that sustainability Loop and so with B XYZ we're looking to kind of Kickstart this process again so not just starting the Dows but then also helping the Dows continue and become more successful over their lifetime uh so we've created this bodow Bible which kind of goes over everything you need to create a bodow um so it's things like branding and design um we provide these services to all the Dows um legal engineering so the cist association was actually one of the things that convinced me to go work at molecules I read all the legal contracts that they uh engageed with the biod wi and I thought they're really uh solid and so that was what interested me in the company um and then yeah things like Tok economics which is my particular role is helping with like defi treasury management protocol design things like that um um helping them actually like use the molecule protocol to Mint their ipft so they can get the investment dollars and things like that so we really help them across a broad spectrum of things um and this is like the kind of original accelerator program and now we're extending this to now doing onchain liquidity um and uh more incentive mechanisms for people to use their products and protocols um so yeah why are we doing all this so first off we want to accelerate human progress um and economic Innovation um basically allowing anyone to do anything they want allowing more science to flourish more intelligence more knowledge being produced um and we also want to decentralize that process so not just like who's able to do it but then how it's stored making sure that it has uh longevity and people can access this research over time it doesn't get siloed and making sure that there's someone that's working on every disease um making sure that you know there is no more human suffering essentially um so making sure that that's operationally like logistically feasible and then also like financially feasible making sure that the people have the money to go do this research and cure these diseases um but there's still a lot of problems in dite today so the main one that we're targeting with bio and has been mentioned a lot today not just with in D but generally with intellectual property is liquidity um so a lot of the bods like even V da which is the most successful um they're fairly low liquidity if you can only do tens of thousands of dollars of purchases um without there being significant price impact and so this severely affects how many uh investors can join the space Because unless you're there at the very beginning then you can't buy in and there's no new dollars that can join you're just stuck with the money that you initially raised with to invest into science and hopefully that science you know kicks off um but they don't really have an ability to continuously fund raise uh then another issue is that a lot of crypto investors don't understand biotech biotech is its own industry um there's a lot of things like yeah just understanding the science to know what is a good investment is very difficult um and so try we're trying to help crypto investors understand what biotech is and kind of what the value proposition is and then also helping the biotech investors understand how crypto works and what the value system of crypto is okay um and there's also a lack of uh products and uh IP monetization from the Dows um so they've launched IPS and IP nfts um but the actual research behind those uh like protocols and tokens hasn't actually been turned into a kind of a sustainable model for them to do um so this on the right is an example from herow who launched the shampoo product which is like the first product by one of the bodow um and yeah it's to help people with their hair uh customer no um and cerean da is also launching a couple products I think soon um so there has been some progress along this um but we think there could be a a lot more and so with bio we're creating a liquidity protocol for accelerating this onchain science uh the science itself and then also you know the productization of it um and so we're calling this the bio acceleration movement uh which is kind of combining crypto and cryptoeconomic incentives um biotech and the research industry and then also artificial intelligence in terms of uh helping us do more research and then the kind of intersection of all this is the bio acceleration movement uh and so kind of the the first stage of how bio is addressing these problems is what we're calling the biogenesis swap um which will be taking place soon um and this is kind of like the first step in BIO to XYZ becoming the metag governance and liquidity layer um so basically we'll be issuing the bio token um in exchange for other dii tokens um so there'll be eight tokens that are eligible to be traded in for Bio during the Genesis event which are like vaad cerebrum Dow cryo Dow Athena da um and then also research coin which isn't part of bi XYZ the accelerator program but we're incorporating them into our ecosystem because we see a lot of alignment there um and then we'll be using all of these tokens that we get through the Genesis swap to then provide liquidity for the biod Dows um and we'll be doing this specifically in the biot token so instead of pairing it with eth uh which has a very high cost of capital and right now the Dows are actually providing a lot of their own liquidity uh which is actually unusual for Dows in general but most D Dows are doing it which is a good thing actually um but that also means that the Dows have a lot of eth in the treasury that's locked up in liquidity that they can actually use to fund science um so we're looking to solve that by us as bio providing liquidity instead of the biod Dows and then also providing the liquidity based in the bio token instead of eth which has a much lower cost of capital for us so we can provide a lot more liquidity a lot cheaper which allows be deeper liquidity which means more trading more investors can come in um and then also the bio can earn more fees from the additional volume um so it's kind of all around great for everyone it's great for the bodow it's great for bio and it's also great for investors um and then ideally we'll be using this funding that and the revenue from the liquidity to then also provide more following funding to the bodow as time goes on and then the second step in um kind of addressing these issues is what we call bioac incentives um and so these are different rewards that we're giving to bodow and then also to people within the dite ecosystem uh for participating in the bioac movement and so these could be things like um minting ipts that achieve a certain market value so V da um we have a retroactive aspect of this because some Dows have already achieved these things so vow with their vast token it had a $5 million market cap um and that's like the first tier of the research um incentive program and so Ved out uh an airdrop of the biot token for having achieved the science that the market has said was valuable and so um now that creates incentives for Dows to invest into more science and AD Min more of an onchain and create more liquidity for that so then there's um more more funding that goes into the science and then also there's more onchain activity for us to kind of like analyze the ecosystem what people actually think is valuable in terms of from a scientific perspective and then really as bio the accelerator that's kind of above all these Dows we can also better evaluate who's actually investing into the right signs so we know who we should be providing um liquidity before and directing Capital 2 um and there's also bioa incentives for uh things like pop-up cities where a lot of the like Zulu and Vitalia which happened this year and last year which were really big in catalyzing the community um to get more involved into dii and then also uh actual practically allowing people to um test a lot of the the products that people have been creating in the d space so it's like uh neotropics or there's cell therapies Gene therapies and we're actually giving incentives to people and paying people for for experimenting with these uh bi biotech Technologies um and yeah so this just got uh released approved by our the bio governance last week I believe um so this is fairly new and we're just rolling it out um but it's a really important step for us in terms of the bio protocol um to be this liquidity incentive layer for the dite ecosystem to help the bodow have these Milestones that they have like very clear achievements where they will get more funding um as they progress and then also for the D system to and like like investor specifically to better understand what they should be looking for in for the biod to know like what the like what are the good metrics and so yeah we started with the the bio kind of spin out process from molecule a couple months ago um I was I was hired to kind of like help with that process and so we started with an airdrop um which some people in this room might be eligible to claim um so if you ever held a dite token like vow um if you uh engaging in the discords or Twitter um and yeah kind of various other things that you would expect an air drop for uh you should go to claim. bio. XYZ and C if you have the aird drop um and then we are preparing for the next step which is the Genesis Swap and that's going to be yeah where we emit the bio token in exchange for all the different dite tokens to see the bio Treasury and then to then see liquidity and then after we do the Genesis swap we'll have the biopharmacy which is kind of like the defi interface or like the defi XD um where we'll be able to do liquidity mining staking governance um and then that's where the bio protocol will be where you can then start like curating and investing into the new bods in in our future cohorts um so become like yeah this kind of hub for the financial dii ecosystem uh so yeah you can follow me as I build the the bio protocol um I put Dune up there first because I've been working on some dashboards um that kind of show an overview of the D ecosystem um so is showing kind of like the the market cap the overall volume um kind of how the different Dows are evolving over time um and yeah how many ipts exist the value of those ipts things like that and then I mostly post like insights in memes I post a lot of memes on a forecaster and so yeah if you're interested in kind of like seeing anything that's up to date you can follow me on these platforms um and also feel free to ask me questions um usually pretty responsive and then you can join the bio Discord um where again you can ask us a bunch of questions and we have like a growing Community that's engaging with the different bodow and also with the protocol and the token and then if you're interested in applying to cohort 2 with the biod idea um you can submit your application there uh cerebrum Dow is actually part of uh cohort 2 U they kind of front ran it which is why I really like them they're just like we're going um but applications are still open and we're really excited to get more Dows involved and uh that's it thank you guys good up for awesome um yeah so we do have a couple minutes for some questions uh and everybody please stick around after the questions we are going to take a big group picture uh so yeah hang out after this um so yeah any any questions feel free to raise your hand so thank you much for your presentations and uh uh I found it really interesting but um I have one question and uh so you mentioned about those way to get money is from public but how about like so you mentioned about the community of the Dows so community of the researchers so what about those uh interactions between researchers like like sometimes I have like full ideas but selling data or buying something yeah um so that falls more in the realm of the biod Dows um so like yeah da or suum da Athena da they're the ones that engage directly with the researchers they figure out which application should be accepted who should get funded developing that IP um then marketing and productizing that IP so like the actual science happens in the bodow and then bio is kind of like this metal layer on top that's doing the the financial liquidity layer helping the Dows get the money so they can actually then engage with the scientists does that I found they are um the investors or the like organizers rather than researchers s uh with bio yes yeah yeah okay so how about the future expectations the future what future expectations for like the community for the researchers um is there any possibility to exchange the data or results or something like there is a publishing related Dows you know so how about those uh yeah so again there be like i' say lower level than bio XYZ so we're just focused on kind of like funding and then anyone that's dealing with data or patients or the actual research itself um would be like one of the bods that we help start and incubate but that wouldn't be our direct responsibility um so if someone wants to publish a paper for example yeah like uh V DA has the V thealist or they have some research paper um that they collect different uh papers from their community and then they publish it um themselves so yeah that that would be on them not us I would say okay thank you