DeSci: Web3.0 Empowers a New Opportunity for Scientific Research

Source: Jishitong Communication

Abstract

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 exploration. In response to these issues, a decentralized science movement has recently emerged in the industry, aiming to build public infrastructure for the fair and equal funding, creation, regulation, verification, storage, and dissemination of scientific knowledge using the Web3.0 system. In simple terms, DeSci provides a solution with a more Web3.0 mindset for fundraising, regulation, auditing, advancement, and timely decision-making in scientific research. Completely different from the operating model of traditional scientific research, users in the Web3.0 world become the driving force behind scientific research, with the market as the core driving force. This represents a new opportunity in the industry. Of course, as a new phenomenon, the risks of DeSci are also apparent, such as 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.

Pumpscience promotes longevity research and has become a recent representative of the DeSci industry. Currently, Pumpscience enables anyone to conduct longevity experimental research, providing an idea for an intervention (drugs, 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 launch 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 are decentralized from initiation to implementation, and the DeSci model has been structured at various stages, with funding preparation, decision-making, regulation, and market operations driven by the role of cryptocurrency markets, all developed in a fully decentralized manner.

The core of Pumpscience is the cryptocurrency market as the driving force, leveraging market power in terms of capital (and capital thresholds), creativity, regulation, and decision-making to fully exploit the market value of every link and promote the rapid development of scientific research. For example, compounds can be formulated into final products at any stage of the research process (if the relevant companies are willing). This is also very imaginative; we can open our minds to think about: in the research experiments of biological sciences and even other fields, some intermediate data and products may also have certain application markets. For instance, although not the ultimate ideal target chemicals, they may be compounds (catalysts or other intermediate products needed for production) required by other manufacturers. Relevant companies can purchase tokens in the token market to drive up prices as an intervention method, providing a milestone foundation for potentially effective products in the next stage. At the same time, they can also buy out the production/sales authorization of related products. Although this is not the ultimate goal of the experiment, the market value of the intermediate process has also been well released.

It can be said that DeSci has decentralized the structure of every step from the creativity/leadership of scientific research, the promotion process (as well as decision-making at various stages), 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 is not meeting expectations; uncertainty of regulatory policies; Web3.0 business model implementation is not meeting expectations.

1**. Core Viewpoints**

The allocation of traditional research funding is often controlled by small, closed, centralized groups, which have certain limitations in terms of regulation and efficiency, thus further affecting the efficiency of research output and the potential for value discovery. Of course, these groups have significant influence in processes including relevant intellectual property transfer and productization, and this influence can sometimes also suppress the efficiency of research output. In response to these issues, there has recently emerged a decentralized science movement, (DeSci), aimed at constructing public infrastructure for the fair and equal funding, creation, regulation, confirmation, storage, and dissemination of scientific knowledge using Web3.0 systems. Unlike the decentralized crowdfunding of a few years ago, DeSci possesses considerable openness in terms of funding, creativity, research ideas, and even market support, embodying a more Web3.0 mindset that fully explores the efficiency and output of research, while sharing the rights with the decentralized 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 external risks (such as external attacks) that 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 the fair and equal funding, creation, regulation, confirmation, storage, and dissemination of scientific knowledge using Web3.0. In simplest terms, DeSci provides a more Web3.0-oriented solution for funding scientific research (as well as regulation, auditing, and various support aspects), making Web3.0 a new accelerator for scientific research. Completely different from the operational model of traditional scientific research, users in the Web3.0 world become the driving force behind scientific research, and this is done in a decentralized manner.

2.1 The Progress of DeSci Compared to GitCoin: Fully Decentralized Structural Project Process

Gticoin is a decentralized collaboration platform built on Ethereum, providing developers with a development collaboration platform and investors with 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 model is very much in the style of Web3.0, representing an early decentralized financing and incubation model.

During the implementation of the funding program, the project requires not only one-time funding but also different rounds of financing arranged according to the various stages of project development. A single round of financing can spark 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), the project can attract a steady stream of funders and co-builders while continuously adapting to changing needs.

Take 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, allowing ecological applications to flexibly expand between the two public chains. Depending on the different stages of development, Sei's financing has planned four rounds, raising a total of 1.3 million dollars distributed to various projects within the Sei ecosystem. The TVL (Total Value Locked) of the Sei ecosystem saw significant growth between July and October, more than doubling to over 200 million dollars. During this period, the number of active users surged, peaking at around 65,000 per day.

It is evident that GitCoin is an earlier Web3.0 decentralized crowdfunding platform that primarily addresses the personalized financing needs of projects at different stages, providing a more decentralized and market-oriented approach to connecting financing needs with funding 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 funding crowdfunding. This represents an innovation with a more Web3.0 mindset. Additionally, from the perspective of development potential and openness, the scientific research supported by DeSci possesses a broader commercial potential, which is also a prominent feature of this innovation.

In the following analysis, we will see that DeSci essentially decentralizes the process of scientific research projects.

2.2 DeSci: Deconstruction of the Entire Research Process

DeSci aims to create an ecosystem that incentivizes scientists to openly share their research and, in return, receive recognition and rewards, while allowing anyone to easily understand and contribute to the research. This is significantly different from traditional scientific research, where funding allocation is often controlled by small closed centralized groups that have certain limitations in regulation and efficiency, which further affects the output efficiency and value potential of research results. Of course, these groups have a significant influence on the transfer of related intellectual property and the productization process, and this influence can sometimes hinder the efficiency of research output. To address these issues, DeSci is attempting to create a more decentralized and transparent model of scientific research, obtaining funding, scientific tools, and communication channels in a decentralized manner, creating an environment where new and non-traditional ideas can thrive. Clearly, under the DeSci model, Web3.0 users will deconstruct the authority of traditional funding bodies, regulators, and even experimental operators, making the process from initiating scientific experiments to product realization more developmental and possessing different potentials.

DeSci has become a recent rising trend, represented by the Pumpscience platform. Currently, Pumpscience allows anyone to conduct longevity experimental research by 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 tested different model organisms. To fund experiments for a specific intervention, drug developers launch 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 as supplements or research chemicals by chemical suppliers. All experimental tests on Pumpscience (currently) aim to extend lifespan. The entire process from project initiation to implementation is decentralized, with the DeSci model structured at each stage: fundraising, decision-making, regulation, and market operation are driven under the influence of the cryptocurrency market, and are conducted in a fully developed, decentralized manner.

The specific workflow of Pumpscience includes:

1. The drug developer submits interventions for testing and pays X USD in SOL to cover the experimental costs;

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 phase of research and development.

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

5. Data is transmitted to the user 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.

On the operational level, Pumpscience has designed its existing research projects in DeSci as a "game," aimed at identifying chemicals that can extend human lifespan in the most time-efficient and cost-effective manner. To quickly and economically generate meaningful high-quality data, Pumpscience first tests on model organisms with shorter lifespans and lower experimental costs, establishing evidence in simpler organisms before moving on to more complex and costly ones. This includes three levels:

1. Worms: Let's start with worms, which are small nematodes about the size of an eyelash. The lifespan of worms in the lab is only 20-30 days, so the effects of potential lifespan-extending chemicals can be quickly observed through worms. High-quality drug screening on worms costs approximately $300-500.

2. Fruit Flies: Next, tests will be conducted on fruit flies, which can survive in the laboratory for about 3 months. The cost of cultivating fruit flies is relatively low (around 2-3 thousand dollars per experiment), and they offer more complex biological insights compared to nematodes. Although they lack a spinal cord, their low cost and rapid life cycle make them ideal experimental subjects.

3. Mice: Promising chemical drugs will then 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 the 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 has proposed a fundraising protocol based on a cryptocurrency platform. This protocol will allow funds to be raised and allocated for each intervention, ensuring that only the most promising interventions can progress. Through transparent and 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 funding at different stages is based on cryptocurrency market cap milestones: as the token's market cap grows, tokens will be sold at key milestones to pay for increasingly advanced testing fees:

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

2. Fly: Sell $2500 worth of tokens when the market capitalization of the token reaches $1 million;

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

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

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 that receive the compound are placed in one tube, while the flies receiving the placebo are placed in another tube. Your goal is to predict whether the compound will allow 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 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 Lifespan Extension (PLE). This indicates how much longer the lifespan of the animals that took 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 test organisms. Once the experiment is complete, if the market value of the compound tokens reaches the next milestone threshold, the next experiment will be funded and executed.

The future development plan of Pumpscience is to launch more research testing content, business plans, and even the introduction of AI agents. Currently, there has been no substantial progress in this area, but the deconstruction and innovation brought by Web 3.0 are expected to yield more interesting results.

The above game seems to be relatively complex and interesting, but the core is the cryptocurrency market as the driving force. It utilizes market power in terms of funding (and funding thresholds), creativity, regulation, and decision-making to fully explore the market value of every link, promoting rapid development in scientific research. For example, compounds can be formulated into final products at any stage of the research process (if the relevant companies are willing). This is also very imaginative; we can open our minds to consider: in the research experiments of biological sciences and even other fields, some intermediate data and products may have certain application markets. For instance, although they are not the ultimate ideal target chemicals, they could be compounds (catalysts or other intermediate products needed for production) required by other manufacturers. Relevant companies can purchase tokens in the token market, driving prices up as an intervention measure, providing a milestone basis for the next stage of potential effective products. At the same time, they can buy out the production/sales authorization of relevant products. Although this is not the ultimate goal of the experiment, the market value of the intermediate processes has also been well released.

It can be said that DeSci has decentralized the structure of every step from the creativity/leadership of scientific research, the promotion process (as well as decision-making at various stages), to the supervision of industrial transformation. This flywheel model will undoubtedly fully 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, posing risks of research and development not meeting expectations.

Uncertainty of regulatory policies: In the actual operation of blockchain and Web3.0 projects, multiple financial, internet, and other regulatory policies are involved. 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, and there is a risk that the business models will not be realized as anticipated.

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