As part of the VDP-54 governance process, we have requested that each strategic contributor provide a memo outlining their interest in VitaDAO and how they see their participation both financial and otherwise.
Below please find the submission from L1 Digital.
Who are you? What is the size of your proposed capital contribution?
L1D is a crypto asset manager based in Zurich, Switzerland with approximately $500m in assets under management. The company was founded in 2018 by an experienced team and invests globally in the cryptoasset sector through funds, co-investments and direct investment.
Alex Miloski, a computer scientist by training, who has 5+ years of experience working in finance and crypto will be representing L1D, serving as the main point of contact.
In exchange for VITA governance tokens, L1 Digital proposes to contribute $500,000 as well as contribute in tokenomics and governance support activities.
Please describe for us, your view of the longevity and healthspan field, and how you perceive VitaDAO’s role in it.
Longevity research has the ability to positively impact the lives of many. The use of crypto based networks to facilitate and elevate the research process is an inevitability as it draws upon the expertise of the underutilized or overlooked global talent pool and rewards them properly. Here, crypto’s core ethos of democratized access and decentralized, borderless communities play a unique role in asserting an equitable outcome.
We see VitaDAO as a materialization of our thesis around the unique value propositions of DAOs in respect to organizing and coordinating humans and capital.
Why does your organization have an interest in this field? How does your organization see itself participating to advance the field?
L1D’s mission is to advance human development by directing capital towards the most promising projects leveraging blockchain technology to improve the way the world operates.
What is your interest in VitaDAO? How do we fit into your operational thesis?
Through the implementation of a unique tokenized incentive structure, we perceive VitaDAO as playing a unique role in advancing the longevity field. VitaDAO is pioneering a brand-new funding model for researchers and biotech companies, bringing more efficiency to the IP discovery process, and democratizing access to and governance over the resulting IP.
As experienced investors with an extensive network in the Web3 sphere, we believe L1D can help the DAO advance these novel frameworks and extend the community’s reach. Since L1D’s inception in 2018, the investment team has conducted significant research on and played material roles in DAO governance for DAOs at various stages (e.g., bootstrapping, diversification, growth). We intend to leverage this experience to help VitaDAO tackle challenging DeGov obstacles, such as liquidity provision, accountability, and resource management.
How do you plan to support VitaDAO, beyond your capital contribution?
L1D plans to contribute in the following ways:
Introduction to on-chain and off-chain Market Makers to help improve liquidity of VITA.
Access to our extensive network of LPs (mostly comprised of Family Offices and High Net Worth Individuals), through which VitaDAO can organically grow its community.
Governance & Tokenomics working groups: aside from actively participating in governance, we plan to share insights around new developments/best practices on crypto governance & token economic design. We believe we’re uniquely positioned to do so given our bird’s-eye view of the entire Web3 space.
Deal structure/review (possibly as a member of the Dealflow working group): as an asset manager, L1D has come across multiple deal structures. The team is well seasoned with decades of experience working in finance. Being investors ourselves, we believe our expertise conducting due diligence on deals can be valuable to the Dealflow working group when structuring or analyzing new opportunities.
Support inner initiatives for Vita’s success. E.g.: Decentralize Tech Transfer (DTT): we can try to connect VitaDAO with existing CROs operating in Switzerland; we’re also working with LabDAO to be the first independent node of their network of dry labs.
Explain how you plan to participate in VitaDAO. Will you participate in governance (token-based voting)? Do you plan to allocate resources to working inside our working groups? Do you have your own initiatives that you feel would bring value to VitaDAO?
Together with other key stakeholders, we position ourselves as being the Web3 arm of VitaDAO, helping with crypto-related matters such as token mechanisms and governance, or advancing DeSci more broadly given the relationships we’ve been building in this field over the last two years.
L1D plans to allocate human capital towards governance, voting on every major proposal and engaging with the broader community on the forum whenever we feel we can add value to the discussion.
In summary, we plan to participate in the Governance, Tokenomics and Dealflow working groups.