Is DeSci in 2024 the same as Decentralized Finance in 2019?

Original title: Decentralized science is like early Decentralized Finance in 2019: Crypto VC

Original author: Brayden Lindrea

Source of the original text:

Compiled by Tom, Mars Finance

Andrew Kang, co-founder and partner of Mechanism Capital, said that the Decentralization Science (DeSci) protocol may undergo changes to evolve into more market-adaptive products.

In a X (formerly Twitter) post on November 24, Kang mentioned that the status of the DeSci protocol is similar to Decentralized Finance (DeFi) at the beginning of 2019 - although it is still in the early stages and has not been market validated, it has “huge potential”.

“At present, everything is still primitive and experimental, but there is a fundamental Consensus… that is its huge potential,” Kang said in the post.

He mentioned that the DeSci project is gradually developing and may make adjustments to its model and products, similar to the Decentralized Finance protocol in 2019, such as the practices of Maker, Synthetix, and Aave at that time, and these projects subsequently expanded.

Kang specifically pointed out that he found the most interesting DeSci projects to be BIO Protocol, Pump Science, and GLP1.

Source: Andrew Kang

• BIO Protocol: Let users collectively own “future drugs”.

• Pump Science: Its platform allows trading of Tokens related to longevity drugs.

• GLP1: Aims to “Make America Skinny Again”.

Kang revealed that Mechanism Capital has participated in the recent round of financing for BIO Protocol.

DeSci’s concept is to use blockchain technology and related elements (such as tokens, Non-fungible Tokens, and Decentralized Autonomous Organization DAO) to incentivize community-driven scientific research and collaboration.

The goal of this field covers addressing the shortcomings of the scientific peer review system, providing cheaper genetic testing, and even including treatment for hair loss.

DeSci is mainly committed to seeking the truth through ‘citizen science’ while rejecting the influence of large pharmaceutical companies and other institutions.

The industry has emerged in recent years as participants in the relevant fields seek new, more efficient ways to combat infections and diseases.

DeSci may make data more accessible to researchers, healthcare professionals, and their patients, while leveraging the security and transparency of blockchain.

With the increasing number of cybersecurity attacks in the digital era of the medical industry, the emergence of DeSci is particularly important.

In the past 18 months, there have been frequent Ransomware attacks targeting medical companies, such as the attacks on Kaiser and Welltok, affecting 13.4 million and 8.49 million people respectively, exposing sensitive personal and health-related information.

Currently, DeSci’s total Market Cap is approximately 12 billion US dollars, with OriginTrail (TRAC) leading the way, with a total Market Cap of 3.749 billion US dollars; closely followed by Rifampicin (RIF) and VitaDAO (VITA), with Market Caps of 1.331 billion US dollars and 1.247 billion US dollars respectively (data source: CoinGecko).

Top ten DeSci tokens by global market capitalization (based on market capitalization ranking): Source: CoinGecko

Editor’s note: DeSci and MEME

The emergence of Meme Token in the field of Decentralization Science (DeSci) is rooted in the integration of blockchain technology and scientific research. By issuing Meme Tokens, the DeSci project aims to attract community follow and financial support to promote the decentralization and democratization of scientific research. This trend reflects the blockchain community’s support for scientific research and innovative attempts to disseminate scientific concepts through Meme culture.

In November 2024, the Meme Token in the DeSci field attracted widespread follow. Here are some noteworthy projects:

1. RIF: Launched by the Pump.science platform, representing the antibiotic Rifampicin. The Token has surged 20 times in just two days, with a Market Cap of 1.816 billion US dollars and over 20,000 holding Addresses.

2. URO: Also from the Pump.science platform, representing the compound urotropine. The Token has surged 20 times in two days, with a Market Cap of about 63 million US dollars and over 10,000 Addresses holding it.

3. ANTI and PRO: Quantum Meme Token launched by BIO ecosystem, namely Protoken and Antitoken. Within 20 hours of launch, the Market Cap of both tokens has exceeded 10 million USD, with a volume close to 30 million USD.

4. BABY: DeSci Meme Token, created with the support of AthenaDAO under BIO Protocol, based on the Base network issuance. The Token has launched the Cross-Chain InteractionToken exchange function, with a market value of approximately 2.23 million dollars.

5. SCIHUB: A Meme Token with the theme of academic freedom, with a highest Market Cap of 70 million USD, currently around 52 million USD.

6. VITA: The native token of VitaDAO, which focuses on longevity research and financing, with a market capitalization of approximately $153 million.

7. RSC: The native token of the ResearchHub platform, used to incentivize users who publish high-quality content on the platform, with a market capitalization of approximately $90 million.

8. ATH (AthenaDAO): follow the DeSci project for women’s reproductive health, with a market capitalization of approximately $8.2 million.

9. GROW (ValleyDAO): A DeSci project focusing on synthetic biology and ecological conservation, with a Market Cap of approximately $8 million.

10. HAIR (HairDAO): A DeSci project dedicated to funding hair loss research, with a Market Cap of about 5960 million US dollars.

Please note that Meme Token often lacks practical applications, and its price fluctuation is significant. Please exercise caution when investing.