GenomesDAO: A Rising Star in the DeSci Field

Recently, a decentralized science (DeSci) project called GenomesDAO has attracted industry attention. The project is supported by well-known investment institutions and focuses on genomic data management and privacy protection.

Overview of DeSci

Decentralized Science (DeSci) aims to reshape the funding, collaboration, and intellectual property protection of research projects using Web3 technology. Although the field has not yet fully entered the mainstream, it has gained recognition from several well-known institutions and industry leaders.

GenomesDAO Introduction

GenomesDAO was established in 2018 and is one of the early projects in the DeSci field. As a biotechnology DAO, it provides a secure, decentralized, and incentive-driven genomic testing platform. Against the backdrop of growing concerns over genomic data security, the importance of GenomesDAO is becoming increasingly prominent.

The core philosophy of the platform is to return the ownership and control of genomic testing data to the users. Unlike traditional models, GenomesDAO allows users to manage their data in their "on-chain vault" and profit from it.

Operating Model

The operating process of GenomesDAO is as follows:

1. Provide users with genetic testing services
2. Upload data to the DNA database, accessible only to the user himself.
3. Third-party pharmaceutical companies use platform tokens to apply for the use of DNA data.
4. Users can decide whether to agree or not, and if they agree, they will receive platform tokens as a reward.

Currently, the service is mainly aimed at European users. Users need to pay £349 to obtain a sample collection kit and receive an NFT similar to an SBT for binding to their personal wallet. After completing the testing, users can "mine" using their own data on the platform.

Token Economics

The platform token $GENOME of GenomesDAO has recently completed a chain migration (migrated to the Base chain) and token swap. This token serves not only as a payment medium for data transactions but also as a DAO governance token, allowing holders to obtain voting rights and token rewards through staking.

Currently, the market capitalization of $GENOME is approximately 16.5 million dollars, with a unit price of 0.0174 dollars.

Development Prospects

GenomesDAO has multiple advantages:

• Have available products and potential sources of income
• Attractive project narrative
• The development team continues to invest
• Low market capitalization, not overly speculated
• Obtain support from well-known investment institutions

In addition, the project is actively collaborating with governments and pharmaceutical companies to create more data mining opportunities for DAO members. At the same time, they are also trying to attract Web2 users through innovative strategies.

Although the DeSci field has not yet attracted widespread attention, considering its potential social value and industry prospects, GenomesDAO may experience significant growth in the future. However, investors still need to carefully assess the risks and be prepared for long-term holding.