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Bio.xyz: a DAO for Building Other Biotech DAOs

bio.xyz
Bio.xyz: a DAO for Building Other Biotech DAOs
Date Published: 12/23/2022
Date Modified: 12/23/2022
bio.xyz
 

It’s only been a couple of months since Molecule announced the formation of its latest DAO project, bio.xyz, to the world. However, the newly formed DAO is already active in the DeSci space, funding and supporting other budding DAOs with mentorships, networking, a launchpad, and other resources.

Longevity Literacy VitaDAOVisit the VitaDAO website to learn how you can get involved.

How bio.xyz differs from other DAOs

Molecule calls it “opening the biotech DAO playbook,” and this is a fairly accurate description of what the DAO does. At its core, bio.xyz is an accelerator platform for DeSci organizations, helping them to utilize the tools covered by the Web3 and decentralized intellectual property space as effectively as possible. This includes, but is not limited to, technologies such as IP-NFTs, governance structures, voting mechanisms, and collaboration models.

This DAO believes that by giving other DAOs in the biotech sphere access to smart contracts, IP-NFTs, governance knowledge, and funding is a way to help accomplish research aims and further the DeSci field as a whole.

Unlike other DAOs, such as VitaDAO, LabDAO, or PsyDAO — all of which are part of bio.xyz’s wider infrastructure — that aim to solve a particular biotech problem, bio.xyz seeks to focus on the wider picture, so it positions itself as the DAO that builds other DAOs. This places it as a key resource for startup DAOs or DAOs seeking to accelerate their current operations more effectively.

How bio.xyz works

Primarily, bio.xyz operates as a funding and support mechanism for budding DAOs. Such organizations are welcomed to submit a proposal, and the application takes no more than 15 minutes. This is then reviewed, decisions are made, and projects are funded.

$100K is available in funding for selected DAOs. In addition, successful applicants will gain access to the DAO’s network of biotech DAO creators, and necessary information on operating a DAO.

Organizations that are awarded a grant receive the $100K into a Gnosis Safe, with access to a third of this approximately every 45 days based on the successful completion of established milestones, proving a carrot for founders to keep driving their DAOs forward.

In addition to financial support, bio.xyz promises around 18 weeks of support and consulting, which covers essential DAO management factors, such as tokenomics, regulatory issues, R&D, community, and general operations. This section is designed to ensure that founders are prepared to operate their DAOs in the most effective way.

DAOs currently in bio.xyz’s network

Bio.xyz already has a relatively expansive network of DAOs under its umbrella. These include:

  • VitaDAO, a decentralized biotech DAO funding early-stage longevity research
  • PsyDAO, a biotech DAO exploring research into the benefits of psychedelic medicine
  • ValleyDAO, an open community that seeks to protect the future of the planet by financing and enabling access to biology tech
  • AthenaDAO, a decentralized organization focused on women’s health and drug discovery
  • HairDAO, an open-source organization seeking to research hair loss treatments
  • CryoDAO, a cutting-edge DAO funding research into cryopreservation

Summary

Molecule recently announced the founding of a new DAO, bio.xyz, that intends to accelerate the biotech and DeSci fields. This DAO provides financial and resource support for budding DAOs. With several well-known DAOs under its belt, bio.xyz could be a vital resource for the DeSci community.

About the author
Maria Isabella

Maria Isabella

Maria is a writer and editor with a passion for technology, health, and lifelong learning. With over 6 years of experience in content creation for the fintech and wellness industries, and 10 years in the non-profit sector, as well as a Masters of Science in Development Management, she is passionate about combining tech and healthcare to make the world a better place.