DeSci: Web3.0 Empowers a New Trend in Scientific Research

Source: Jishi Communication

Abstract

The allocation of traditional scientific research funds is often controlled by small, closed, centralized groups, which have certain restrictions in terms of regulation and efficiency, which will further affect the efficiency of scientific research results and the exploration of value potential. In response to these issues, the industry has recently given rise to the Decentralized Science (DeSci) movement, which aims to use Web 3.0 systems to build a public infrastructure for funding, creating, regulating, validating, storing, and disseminating scientific knowledge fairly and equitably. In the simplest terms, DeSci provides a more Web3.0 thinking solution for scientific research fundraising, supervision, review, research promotion and timely decision-making. Completely different from the operation mode of traditional scientific research, users in the Web 3.0 world have become the promoters of scientific research, and the market has become the core driving force. This is a new outlet for the industry. Of course, as a new thing, the risks of DeSci are also obvious, such as data fraud in the scientific research process, platform security, and other risks from the outside (such as external attacks) will have an immeasurable impact on the quality of scientific research, risk spillover, etc.

Pumpscience promotes longevity research and has become a recent representative of the DeSci industry. Currently, Pumpscience allows anyone to conduct longevity experimental research, providing an idea for an intervention (drug, or multiple drugs) to be tested, along with token incentives based on the Solana platform. Drug developers can raise funds for experiments, while others can bet on which intervention will extend the lifespan of the different model organisms being tested. To fund experiments for a specific intervention, drug developers have launched a token that represents partial rights to the drug mixture, which can be sold to cover experimental costs. The rights to interventions developed on the platform can be licensed, and these interventions can be sold to chemical suppliers as supplements or research chemicals. All projects on Pumpscience go through a fully decentralized process from initiation to implementation, with the DeSci model structured at each stage, where funding, decision-making, regulation, and market operations are driven by the cryptocurrency market, and are conducted in a fully developed and decentralized manner.

The core of Pumpscience is the driving force of the cryptocurrency market, which uses market forces to fully tap the market value of each link and promote the rapid development of scientific research in terms of funding (and funding threshold), creativity, regulation and decision-making. For example, compounds can be formulated into a final product at any stage of the research process (if the company in question wishes to do so). This is also very imaginative, and we can be open to thinking: in the process of scientific research experiments in biological sciences and even in other fields, some intermediate data and products will also have a certain application market, for example, although the chemical is not the ultimate ideal target, it may be the compound (catalyst or other intermediate products required for production) required by other manufacturers. Relevant companies can buy tokens in the token market, pushing up the price as a means of intervention, providing a milestone basis for a possible effective product in the next stage. At the same time, it is possible to buy out the relevant product production/sales authorization. Although this is not the ultimate goal of the experiment, the market value of its intermediate process is well unleashed.

It can be said that DeSci has decentralized the structure of every step from the creativity/leadership of scientific research, the advancement process (as well as decision-making at each stage), to the supervision of industrial transformation. This flywheel model will undoubtedly fully unleash the efficiency and energy of Web 3.0.

Risk Warning: The development of blockchain technology may not meet expectations; uncertainty in regulatory policies; the implementation of Web3.0 business models may not meet expectations.

1**. Core Viewpoint**

The distribution of traditional research funding is often controlled by small, closed, centralized groups, which have certain limitations in regulation and efficiency, thereby further affecting the efficiency of research output and the potential value discovery. Of course, these groups have significant influence in processes including related intellectual property transfer and productization, and this influence can sometimes inhibit the efficiency of research output. In response to these issues, the decentralized science movement, (DeSci), has emerged recently in the industry, aiming to build public infrastructure using Web3.0 systems for the fair and equal funding, creation, regulation, confirmation, storage, and dissemination of scientific knowledge. Unlike the decentralized crowdfunding of a few years ago, DeSci possesses considerable openness in terms of funding, ideas, research approaches, and even market support, embodying the Web3.0 mindset and fully tapping into the efficiency and output of research while sharing the rights with the dispersed Web3.0 ecosystem users.

Of course, as a new phenomenon, the risks of DeSci are also evident, such as issues like data falsification in the research process, platform security, and other risks from external sources (such as external attacks) which can have immeasurable impacts on research quality and risk spillover.

This article introduces the operational model of typical representative projects in DeSci and analyzes their development potential.

2. DeSci: Empowering Scientific Research with Web3.0

Decentralized Science (DeSci) is a movement aimed at building public infrastructure for funding, creating, regulating, confirming, storing, and disseminating scientific knowledge fairly and equally using Web3.0. In simplest terms, DeSci provides solutions for fundraising (as well as regulation, auditing, and various support) for scientific research with a more Web3.0 approach, effectively making Web3.0 a new accelerator for scientific research. Completely different from the operational models of traditional scientific research, users in the Web3.0 world become drivers of scientific research and do so in a decentralized manner.

2.1 Progress of DeSci Compared to GitCoin: Completely Decentralized Structure Project Process

Gticoin is a decentralized collaboration platform built on Ethereum, providing developers with a collaborative development platform while offering investors a donation platform (cryptocurrency donations). It can be simply understood as a crowdfunding and sharing platform for project codes and funds. Project token airdrops are given to funders as rewards, and this financing method is highly characteristic of Web 3.0, representing an early-stage decentralized financing and incubation model.

In the implementation of the funding program, projects require not just one-time funding, but rather different rounds of financing arranged according to the various stages of project development. Single-round financing can stimulate the interest of funders, but a coordinated multi-round financing strategy is essential for establishing sustained engagement and attracting long-term builders. By prioritizing financing rounds based on established goals (milestone achievements), projects can attract a continuous stream of funders and co-builders while continuously adapting to changing needs.

Taking the project Sei as an example, Sei's goal is to combine the development standards of the Ethereum Virtual Machine (EVM) with the performance of Solana, so that ecological applications can flexibly scale between the two public chains. According to the different stages of development, Sei planned four rounds of financing, and in the four rounds of financing, a total of $1.3 million was raised and allocated to various projects in the Sei ecosystem. Sei Ecosystem's TVL (Value of Locked Assets) grew significantly between July and October, more than doubling to more than $200 million. During this period, the number of active users rose dramatically, peaking at about 65,000 per day.

It is clear that GitCoin is an earlier Web3.0 decentralized crowdfunding platform, which primarily addresses the personalized financing needs of projects at different stages, and provides a more decentralized and market-oriented way of matching financing needs with capital supply in a decentralized manner. In contrast, DeSci not only provides early support for scientific research (projects) in terms of funding but also decentralizes various aspects such as project (research) content, creativity, and decision-making, rather than being limited to just crowdfunding for funds. This is an innovation that embodies a more Web3.0 mindset. Additionally, in terms of open development potential, the scientific research supported by DeSci has broader commercialization potential, which is also a prominent feature of this innovation.

In the following analysis, we will see that DeSci essentially decentralizes the structure of research project processes.

2.2 DeSci: The Comprehensive Deconstruction of Scientific Research

DeSci aims to create an ecosystem that incentivizes scientists to publicly share their research and receive accolades and rewards for doing so, while allowing anyone to easily learn about and contribute to research. The difference between this and traditional scientific research is significant: the allocation of traditional scientific research funds is often controlled by small closed centralized groups, which have certain restrictions in terms of regulation and efficiency, which will further affect the efficiency of scientific research results and the exploration of value potential. In response to these issues, DeSci is trying to create a more decentralized and transparent scientific research model, creating an environment where new and non-traditional ideas can flourish through decentralized access to funding, scientific tools, and communication. Obviously, under the DeSci model, Web3.0 users will deconstruct the traditional authority of scientific research funders, regulators, and even experimental operators, making them more developed and have different potential in all aspects from the initiation of scientific research experiments to the landing of products.

DeSci has become a rising trend recently, represented by the Pumpscience platform. Currently, Pumpscience allows anyone to conduct longevity experimental research by providing an idea for an intervention (a drug, or multiple drugs) to be tested, along with token incentives based on the Solana platform. Drug developers can fund experiments, while others can bet on which intervention will extend the lifespan of the different model organisms being tested. To fund experiments for a specific intervention, drug developers launch a token that represents partial rights to a drug mixture, which can be sold to cover experimental costs. The rights to the interventions developed on the platform can be licensed, and these interventions can be sold to chemical suppliers as supplements or research chemicals. All experimental tests on Pumpscience (currently) are aimed at extending lifespan. The entire process from project initiation to implementation is decentralized, with the DeSci model structured at each stage, including fundraising, decision-making, regulation, and market operations, all driven by the cryptocurrency market in a fully developed and decentralized manner.

The specific workflow of Pumpscience includes:

1. The drug developer submits the intervention for testing and pays X $ SOL to cover the cost of the experiment;

2. Issue tokens on pump.fun and use the raised funds to purchase the first batch of tokens:

3. If the market value of the token reaches a certain threshold, the token will be automatically sold to fund the new stage of research and development for the experiment;

4. These interventions were tested on the nematode ( C elegans ) on Ora Biomedical's Wormbot, and on flies using Tracked Biotechnologies' FlyBox, with more experiments planned for the future;

5. Data is transmitted to users at fixed time intervals, allowing users to assess the effectiveness and value of intervention measures.

6. Chemical suppliers can purchase the rights to intervene from token holders.

In terms of specific operations, Pumpscience currently has research projects that design DeSci as a "game," aimed at identifying chemical substances that extend human lifespan in the most time-efficient and economical way. To quickly and cost-effectively generate meaningful high-quality data, Pumpscience first conducts tests on model organisms with shorter lifespans and lower experimental costs, establishing evidence in simpler organisms before moving on to more complex and higher-cost organisms. This includes three levels:

1. Worms: Let's start with worms, which are small nematodes about the size of an eyelash. Worms have a lifespan of only 20-30 days in the lab, making it possible to quickly observe the effects of potential lifespan-extending chemicals. High-quality drug screening on worms costs about $300-500.

2. Fruit Flies: Next, we will test fruit flies, which can survive for about 3 months in the laboratory. The cost of cultivating fruit flies is relatively low (about 2-3 thousand dollars per experiment), and they provide more complex biological insights compared to nematodes. Although they do not have a spinal cord, their low cost and fast life cycle make them an ideal experimental subject.

3. Mice: Promising chemical drugs will subsequently enter the mouse testing phase. Mice have a lifespan of about 2-3 years, and the experimental cost ranges from $30,000 to $60,000, depending on the environmental setup. Due to their longer lifespan and higher costs, only the most promising candidate drugs can enter this phase, where more expensive, time-consuming, but more human-relevant data can be collected.

To fund the game, Pumpscience proposed a fundraising protocol based on a cryptocurrency platform. This protocol will allow for the raising and distribution of funds for each intervention, ensuring that only the most promising interventions can advance. Through transparent, decentralized funding, donors can directly support the development of chemicals that may extend human lifespan in the future.

When researchers (developers) submit new interventions, participants purchase tokens linked to their interventions on the platform. This financing at different stages is based on cryptocurrency market capitalization milestones: as the token's market value increases, tokens will be sold at key milestones to pay for increasingly advanced testing fees.

1. Worm: sold $500 worth of tokens when the market cap of the token was $70,000;

2. Fly: Sell $2,500 worth of tokens when the token market cap reaches $1 million;

3. Mouse: Sell $20,000 worth of tokens when the market cap of the token reaches $3 million.

Anyone can submit a test of the corresponding compound for less than $100 without permission. Keeping costs low and eliminating barriers to entry for potentially valuable products will further increase the number of submitted ideas. The more ideas submitted, the more likely those ideas will lead to valuable products that extend healthy lifespan.

The longevity experiment with flies involves feeding a compound or a placebo control to a tube of flies (about 15 flies per tube). The flies receiving the compound are placed in one tube, while those receiving the placebo are placed in another tube. Your goal is to predict whether the compound will cause the flies to live longer than those receiving the control. To make this prediction, you must monitor the flies, which will be uploaded to Pumpscience as they are recorded. You can observe the flies in the test tubes. The flies in each test tube either receive the compound or the control, the latter of which is labeled at the top of the tube.

At the end of the experiment, there will be a final score: Percentage of Life Extension (PLE). This indicates how much longer the lifespan of animals taking the drug is compared to the control group. The goal of the game is to find more compounds that can increase the PLE of all tested organisms. Once the experiment is completed, if the market value of the compound tokens reaches the next milestone threshold, then the next experiment will be funded and executed.

The future development plan of Pumpscience is to introduce more scientific research testing content, business plans, and even the introduction of AI agents. Currently, there has not been any substantial progress in this regard, but the deconstructive power and innovation brought by Web 3.0 are expected to yield more interesting results.

The above game seems to be complex and interesting, but the core is that the cryptocurrency market is the driving force at the core, using market forces in terms of funding (and funding thresholds), creativity, regulation and decision-making, fully mining the market value of each link and promoting the rapid development of scientific research. For example, compounds can be formulated into a final product at any stage of the research process (if the company in question wishes to do so). This is also very imaginative, and we can be open to thinking: in the process of scientific research experiments in biological sciences and even in other fields, some intermediate data and products will also have a certain application market, for example, although the chemical is not the ultimate ideal target, it may be the compound (catalyst or other intermediate products required for production) required by other manufacturers. Relevant companies can buy tokens in the token market, pushing up the price as a means of intervention, providing a milestone basis for a possible effective product in the next stage. At the same time, it is possible to buy out the relevant product production/sales authorization. Although this is not the ultimate goal of the experiment, the market value of its intermediate process is well unleashed.

It can be said that DeSci has decentralized the structure of every step from the creativity/leadership of scientific research, the advancement process (as well as decision-making at each stage), to the regulation of industrial transformation. This flywheel model will undoubtedly unleash the efficiency and energy of Web 3.0.

Risk Warning

Blockchain technology research and development falls short of expectations: The blockchain-related technologies and projects underlying Bitcoin are in the early stages of development, with risks of research and development not meeting expectations.

Uncertainty of regulatory policies: Blockchain and Web3.0 projects involve multiple financial, internet, and other regulatory policies during their actual operation. Currently, regulatory policies in various countries are still in the research and exploration stage, and there is no mature regulatory model, so the industry faces the risk of uncertainty in regulatory policies.

The implementation of Web3.0 business models has not met expectations: The infrastructure and projects related to Web3.0 are in the early stages of development, posing risks of business models not being realized as anticipated.

This article is an excerpt from the report "DeSci: The New Opportunity for Scientific Research Empowered by Web 3.0" published on November 28, 2024. For more details, please refer to the relevant report.