VitaDAO is a global collective on a mission to fund novel longevity research and democratize IP - making it accessible to patients across the globe. Vita will acquire early-stage IP assets and finance data creation to potentially advance these assets to the clinic. Our core goal is to bridge the valley of death in early-stage research by creating a global longevity research community that can distribute risk and perform better asset evaluation through crowd intelligence.
1 The VITA token is the lifeblood and DNA of the VitaDAO ecosystem. VITA is obtained by contributing work, data, IP, or funds to VitaDAO. The core function of VITA is to curate the best longevity IP and fund novel open science data creation around it.
2 VITA tokens grant the rights to participate in a) which IP is funded; b) how it is funded; c) how it is governed; d) how the VitaDAO treasury is governed. As such, VITA grants no ownership of the IP or expectations of profits surrounding it. VITA holders have no rights to any of the IP held by VitaDAO, but decide how it is commercialised and brought to patients.
3 VITA is designed following a sustainability loop principle. As R&D projects are funded and begin producing data, their respective value grows, increasing the overall value of VitaDAO. As the VITA ecosystem grows, more funds become available, attracting higher quality IP and enabling the funding of further projects and growing the VitaDAO ecosystem.
VitaDAO is governed by 3 core stakeholder groups:
- VitaDAO Members that hold VITA and participate in governance.
- Working groups consisting of select individuals that steward the organization.
- Service providers consisting of organizations that provide core infrastructure or services.
The diagram and table below propose the initial VitaDAO token distribution. Overall, 30% will be distributed to the community for the initial genesis, whereas 70% of tokens remain available unminted in the VitaDAO treasury to ensure the longevity of the entity. The initial genesis auction should be considered the first proof of concept financing to prove VitaDAOs IP and funding model, whereas members could choose to issue further tokens at any time. Furthermore, tokens may be allocated to various incentive schemes and mechanisms as proposed in the VitaDAO whitepaper V1.0.
*64,298,880 represents the lifespan in minutes of Jeanne Louise Calment. She is the oldest person to have lived for a period of more than 122 years.
She lived approximately 64,298,880 minutes on planet earth, which will form the basis of VitaDAO’s DNA. VitaDAO’s token supply is capped and may only ever be increased, should anyone surpass her lifespan forming our core mission at VitaDAO.
The genesis distribution event will liberate 10% of VitaDAOs total token supply to interested participants fully open to the public via interaction with a smart contract auction system on the Ethereum blockchain.
Since VitaDAO operates via a public auction system, the token price is dictated by the community. We estimate that a minimum of $2,500,000 will be required to support the first cohort of research projects and form the base requirement of a successful auction.
VitaDAO will be fully decentralized and community-owned from inception. As such, no entity will own VITA tokens prior to the genesis contribution event. No tokens have been issued or sold to individual contributors, as nobody controls VitaDAO until inception.
VITA’s genesis contribution event will run via a fair launch public auction, granting all participants equal governance rights. Once the first 10 % have been issued, the VitaDAO core community may begin voting on its first governance proposals to allocate further tokens to working groups and service providers.
Importantly - the approval of these allocations to working groups, contributors, and service providers is at the full discretion of genesis members and their approval. They form the core of VitaDAOs decision-making body.
Vita working groups form the hive mind of VitaDAO and are structured according to genesis requirements and individuals that have contributed time, resources, and risk. Over time, Vita members may vote to realign these requirements. For genesis, the following structure is proposed:
Working groups allocate tokens to various incentive schemes designed to curate its community and attract the most promising research and IP. Below is an example of early incentive schemes incentivising researcher participation and on-chain liquidity provision.
Working groups are guided by VitaCore - a group of individuals that formed through the collective hive mind and decision making in various working groups.
VitaCore allocations draw from their respective working groups and are proposed on an individual basis as follows:
VitaCore allocations vest 40% upon launch to grant core governance. Consecutively, 60% vest linearly over 12 months.
Beyond VitaCore, VITA is allocated to numerous advisors and open source contributors. Below is an example that includes various contributors and core advisors in a first non-exhaustive example. We assume that core contributors receive 125 VITA per hour for their contributions. This list serves as an example (incl. John Smith) and is in no way final or inclusive of all contributors, which should be finalised by the community.
Again, we propose these allocations vest 40% upon launch and 60% linearly over 12 months.
VitaDAO service providers have developed the core infrastructure required to launch the DAO’s smart contract infrastructure, raise awareness and steward its initial community, ensure its legality and IP NFT holdings and essentially birth the community required for its genesis.
Service providers are companies operating from various legal jurisdictions with functional teams that supported VitaDAO at full operational risk without receiving remuneration. Their belief in democratizing longevity research is what brought the VitaDAO community and working groups to life.
Service providers are remunerated both in tokens and fiat, depending on their risk profile. Core providers include:
- Molecule GmbH: architecture, operations, awareness, BD, genesis IP, IP NFT workflow, legal
- Decentralized Matter: awareness, community inception, marketing and DevOps
- Linum Labs AG: smart contract development and deployment support
- Keyko AG: tokenomics and system audit
- Curve Labs: governance and system audit
- Arctoris Ltd: contract research automation and R&D
Service providers will individually submit a scope of services for allocations and fiat values, and pending approval will continue to support VitaDAO for a minimum period of 3 - 12 months post-launch. Final service provider commitments can further be finalised post-launch. Allocations above 0.5% in tokens will support VitaDAO for a minimum of 12 months post-launch.
As one of the largest service providers and working group initiators, Molecule will lock its tokens into an on-chain multi-sig. Further, it will distribute its allocation across its operational team to ensure broad governance participation.
An initial team distribution may allocate 1.5% across the Molecule team, intending to mirror working group allocations and incentivize broad participation.
Other service providers are encouraged to adopt similar models.
Within the genesis service provision, we propose to fund VitaDAO’s first end-to-end proof of concept with the Scheibye-Knudsen Laboratory at the Aging Research Lab at the University of Copenhagen.
Molecule has out-licensed the full rights to this project and will transfer it to VitaDAO at the nominal sum above. In addition, VitaDAO will fund the first set of laboratory experiments and begin receiving its first data assets. We propose to conclude this as a once-off deal to kickstart the VitaDAO research economy. Both the IP NFT transfer and contract research agreement will be submitted to VitaDAO members as an initial vote.
VitaDAO is an open and participatory vehicle that aims to reward its members equally for their contributions. This proposal reflects the input and suggestions of its current working group members, advisors and contributors. It is designed as a first token economic system to ensure VitaDAO’s longevity. None of the allocations reflected here are final or exhaustive.
- Effects of allocations on early voting behavior
- Service provider invoices
- Definition of vesting schedules
- VitaCore Sign-Off
- Vita Contributors & Advisors Finalisation
- Agree with revisions (please comment)