DeSci-focused DAO community funds cancer research
VitaDAO community agreed to fund an early-stage cancer research through the launch of a biotech company named Matrix Biosciences.
VitaDAO, a decentralized collective dedicated to early-stage longevity research, funded the launch of a biotech company, Matrix Biosciences, dedicated to the treatment of cancer and aging diseases.
The initial discussions around the use of high molecular weight hyaluronic acid (HMW-HA) for anti-cancer and pro-longevity effects started off in November 2022 and gained majority consensus in March 2023. The proposal snapshot reveals that 35 members cast their votes using VITA tokens.
Out of the lot, 30 members supported the cause, 4 members abstained from voting, and 1 voted against the proposal. As an active contributor in decentralized science (DeSci), VitaDAO made an initial investment of $300,000 and plans to carry out further funding through tokenization of intellectual property (IP) in early 2024.
The HWA-HA compound is derived from the tissues of naked mole rats, a type of rodent that possess stronger cancer resistance which is responsible for their higher lifespan.
Speaking to Cointelegraph, a VitaDAO spokesperson revealed that the funds have been provided to Matrix Bio by converting USD Coin (USDC) stablecoins from the community treasury to the US dollar and wired to their bank account.
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