DeSci project analysis: Can AxonDAO reshape digital health with Web3

 Author: Will Awang; Source: Web3 Xiaolu

In the digital economic society, our data is everywhere and contains huge value. There is no doubt about this. However, these individual data are often collected into the hands of leading organizations, which instead brings them huge commercial value.

Now, with the continuous maturity of biometrics, blockchain and AI technologies, and the continuous implementation of the Web3 value Internet business model, this situation is changing. . We can retain and control individual data in an unprecedented way, and participate in and create the value of these data in a collaborative manner, which can ultimately be given back to individuals and promote the development of society.

Among these, DeSci can solve many problems. For example, in the field of digital health, people can contribute their voice data to participate in and promote research on early screening for Alzheimer's disease.

This article will look at how AxonDAO uses biometrics, blockchain and AI technology, combined with DePIN, to reshape digital from the perspective of DeSci's early project - AxonDAO Healthcare, promoting citizen science.

1. About AxonDAO

The patterns of nature are deeply rooted within each of us. We draw on these patterns, represented as discrete data elements, to expand our understanding of ourselves and the universe in which we exist——AxonDAO

1.1 AxonDAO's Web3 transformation

AxonDAO is initiated by Axon, a company with decades of experience in informatization and digitalization of medical and health systems. , aims to use blockchain and artificial intelligence to reconstruct the way humans interact with their own health data.

AxonDAO collects medical and health data through DePIN and uses input methods based on biometrics, genomics data and other key health indicators to form specific AI predictions. Cognitive algorithms (Precognitive Algorithms) are used to standardize, tokenize, and protocol these data so that they can be applied to back-end research, new drugs, therapies, and diagnostic and treatment services. AxonDAO can not only monitor the individual data itself, but also predict the future health status of the individual.

Axon was founded in 2014 as a digital health startup. During the 2020 COVID-19 epidemic, Axon worked closely with clinical data companies to remotely connect their research and practice to help the struggling medical system survive the difficult period. After discovering the huge potential of Web3 in 2021, Axon transformed into AxonDAO, innovatively combining the traditional medical business model with the Web3 token economic model to provide solutions for the medical and health industry that has yet to be improved, while ensuring that through governance decentralization Transparency and increased public participation.

1.2 AxonDAO’s Vision and Mission

AxonDAO envisions a future where medical research and individual health data interact in real time, directly connecting and standardizing the commonly generated individual health data with medical research. All data is centered on the individual, ensuring data security, anonymity, individual ownership, compliance with scientific evaluation standards, and easy access to medical scientific research.

AxonDAO not only records data contributions through DeSci, but also incentivizes data contributors, especially data contributions from early participants, and provides them to everyone Uncover the true potential value behind this data, allow the general public to become early participants in citizen science projects, and drive breakthroughs in innovative treatments and medical research through the lasting power of blockchain.

AxonDAO's mission is to democratize medical science through decentralization, replacing the monopoly of Big Pharma with a community that shares a common purpose and ethos . AxonDAO was built not just to promote decentralized science, but to revolutionize and redefine science.

($AXGT Token - #DeSci #DePIN Power House for Healthcare)

2. What does AxonDAO plan to do

Ten years from now, when researchers desire to understand if a specific segment of the population is susceptible to a disease or medicine, due to distinct geographic, biometric, or genomic characteristics, they pay a 'gas fee' to you if your (anonymous ) data fits their criteria——AxonDAO

As a veteran of the digital health industry, AxonDAO is well aware of the difficulties in the digital health industry and is trying to use DeSci to solve it. Transformation.

2.1 Innovative project funding methods

AxonDAO Utilization Area The power of blockchain creates a transparent and democratic project funding mechanism to help early-stage medical science projects obtain funding and enhance medical science discovery capabilities. For unknown researchers, this is the biggest pain point hindering research.

AxonDAO launched a community round of financing in December 2023 and January 2024 respectively, and issued its governance token AXGT. The governance token enables token holders to provide funding and participate in governance, guiding and shaping the community's project funding proposals.

Since the community is still in its early stages, Axon, as the initiator of AxonDAO, has temporarily launched 3 digital health projects to promote the development of AxonDAO.

(AxonDAO White Paper)

2.2 Strategic Collaboration Building the AxonDAO Ecosystem

The essence of DeSci is collaboration. Over the past few years, AxonDAO has been working hard to build out its ecosystem.

Internally, AxonDAO aims to break down traditional silos in scientific research and enable researchers to share data, resources and research with unprecedented ease and security. result. At the same time, AxonDAO uses a decentralized network to build a space where scientists, scholars and innovators can collaborate globally without geographical restrictions or institutional barriers, accelerating the pace of scientific discovery and innovation.

AxonDAO also actively participates in sharing on various social media platforms to exchange the most cutting-edge DeSci knowledge and solve problems through transparent communication and democratic processes within the DAO Problem, implementation plan.

Externally, AxonDAO not only accumulates resources and adds value to DeSci and the digital medical ecosystem horizontally, but also promotes collaborative cooperation between different disciplines and different professions vertically. .

For example, AxonDAO received funding from Polygon DeSci Grant in 2022 and participated in Polygon DeSci Vendor Programs; received funding from DeSci in Gitcoin's Beta Round in 2023; Participate in the NVIDIA Inception Program in 2023.

Among them, the Nvidia Inception Program aims to help start-ups grow faster through cutting-edge technology, opportunities to connect with venture capitalists, and access to NVIDIA's latest technology resources. In this project, AxonDAO will combine the capabilities of Nvidia AI to capture the value of medical and health data.

(X: @AxonDAO)

2.3 Technology empowerment

Ensure the security of individual data through the development and implementation of scalable blockchain infrastructure, such as solutions leveraging zK solution technology Ownership and HIPAA security issues, ensuring data accuracy and privacy, and providing incentives for data contributors;

Build advanced data analytics (Advanced Data Analytics) and Secure data sharing (Secure     src="https://img.jinse.cn/7182457_image3.png"   >（X: @AxonDAO）

We can see that based on the background of medical and health informatization, AxonDAO can not only achieve decentralized project funding and discovery, but also go into the details of the digital medical industry to implement solutions in real time, through the blockchain Reshape the industry chain in a Web3 way.

By combining strong collaboration, transparent practices, community-driven governance and a growing and dynamic The community comes together, and AxonDAO not only envisions a new era of medical health, but is actively realizing it.

3. AI , DePIN for DeSci

Axon has accumulated experience in the medical industry and After accumulating resources, after transforming into AxonDAO, some digital medical projects were launched to promote the implementation of AxonDAO. In these projects, DeSci solutions such as AI and DePIN were used.

For example, Voice A+ - Precognitive Voice Analysis, which tracks voice data to screen and evaluate Alzheimer's disease, Parkinson's disease, and dementia , post-traumatic stress disorder, Huntington's disease and other conditions, the program can also monitor fatigue, energy levels, especially in commercial trucks, motor vehicle drivers and other heavy equipment. The Voice A+ model can also be extended to anxiety and stress, and mood swing discovery.

In the Voice A+ project, data from project participants can be obtained through DePIN's model and incentives can be given. After collecting, organizing, and processing the data (Raw Data), we use Nvidia's capabilities to construct the AI ​​neural network, and finally generate standardized and valuable data (Advanced Data) for scientific research, clinical, and productization/commercialization. .

(X: @AxonDAO)

The birth of the DeSci project It is digital and global, so the business model of digital medical projects like AxonDAO -Use the DePIN model to incentivize user data nodes, provide data productivity through AI, and at the same time incentivize the entire ecosystem through the Web3 token economy Network, and the model of decentralized governance through DAOcan help projects gain huge network utility from the beginning and bring about a flywheel effect.

Especially for individual health monitoring, status scale filling and early screening tests in psychological, psychiatric, neurological diseases and chronic diseases,This Being able to use lightweight digital media such as mobile phones to complete projects with convenient and multi-frequency data acquisition is a natural fit for using the DePIN model. This may be the main business model of DeSci digital medical projects or Biotech projects in the future.

4. AxonDAO’s token economy

AxonDAO claims to have adopted a "dual-token model", including the governance token AXGT and the security token AXDT (Security Token).

The rights and interests of the governance token AXGT include the three-piece set of conventional governance, voting, and proposals, as well as some related medical research based on the particularity of DeSci. The equity reflects the value of the entire AxonDAO ecosystem.

The adoption of security token AXDT is not the "dual-token model" we understand in the conventional sense (such as GameFi's dual-currency model). AXDT is based on An ownership/equity certificate under the U.S. DAO LLC Act, which reflects the future profit distribution of AxonDAO LLC and the valuation value of AxonDAO LLC.

4.1 Governance Token - AXGT

AxonDAO respectively In December 2023, a community round of financing was launched in January 2024, and its governance token AXGT was issued. On February 13, 2024, AXGT conducted an IDO on Uniswap.

A total of 1 billion AXGT, including:

• 20% is used for pre-IDO community financing;

• 4% is awarded to early founder members of AxonDAO , including 2% OG Advisors, 1% CORE, 1% (DEX, buybacks), linearly unlocked in 12-36 months;

• 6% is awarded to the Working Group, unlocked linearly over 12 + months;

• 3% is used in Create a liquid ETH-AXGT pair on Uniswap;

• The remaining parts are to be unlocked.

(AxonDAO White Paper)

The utility of AXGT token:

A. Community access; B. Governance voting; C. Submit a proposal, and the project can be submitted to AxonDAO for voting to obtain funds; D. Support scientific research, each transaction and sale of AXGT, 4% procedure Fees will be used to support the DeSci project, eliminating the need for intermediaries or other institutions; E. Incentive consideration for data value - AXGT, which can be converted into ETH and BTC; individual intellectual property rights can also be transferred through AxonDAO's DeSci application (IP) converted to AXGT; F. Donation: express gratitude to favorite scientists; G. Merchandise discounts, including discounts on cutting-edge scientific tools, equipment, products and services recognized by the AxonDAO platform; H. Customized services for scientists; I. NFT; J. Other Interests to be Determined.

4.2 Security Token - AXDT (AxonDAO Treasury)

AXDT represents the ownership, that is, equity, of AxonDAO LLC. The value reflected is the future profit distribution of AxonDAO LLC and the valuation value of AxonDAO LLC. Only accredited investors or institutional entities can comply with the U.S. Securities Law Reg D 506 (c ) to purchase AXDT security tokens.

Interestingly, AxonDAO LLC is an LLC company established under the DAO Act of Wyoming, USA. The organizational structure of a DAO LLC established through state laws is as follows: On the one hand, it can navigate the complexity of US securities laws, and on the other hand, it can embody the spirit of a decentralized autonomous organization (DAO) within the framework of a limited liability company (DAO LLC).

AXDT is allocated as follows:

• 65% AxonDAO Treasury;

• 20% AxonDAO Member-Partner;

• 10% AxonDAO core members, consultants, contributors;

• 5% reserved.

(AxonDAO White Paper)

5. Opportunities and Challenges

5.1 Opportunities ——Leading the launch of DeSci in North America

We can see that DeSci is developing in full swing in Europe, especially with Molecule as the leader and launching many specific projects. Domain DAOs, such as VitaDAO that focuses on research and drug discovery in the field of life longevity (invested by traditional pharmaceutical giant Pfizer), ValleyDAO that targets synthetic biology and climate change, HairDAO that targets hair loss, and AthenaDAO that focuses on women’s health wait.

AxonDAO, whose main position is in North America, may be able to promote the development of the North American DeSci community to a certain extent and play a leading role.

5.2 Opportunity - not just a project fundraising and incubation platform

We can see the shadow of Molecule, the leading DeSci project fundraising incubation platform in Europe, in AxonDAO (for more about Molecule and Vitadao, please refer to "DeSci: Exploring the business model and feasible path for Biotech projects to enter Web3" ).

In addition to fundraising and incubation, we also saw that AxonDAO is preparing to build data standardization protocols and AI based on its rich digital medical experience and senior industry resources. Pre-cognitive algorithms, data asset trading platforms, real-time collaboration of data and scientific research, etc. Once these visions can be realized, the digital health industry will be reshaped, especially those medical services and drugs that need to be developed based on large amounts of medical health data, such as psychological, psychiatric, and neurological-related digital therapies.

5.3 Opportunities - AI, DePIN for DeSci

As mentioned before, the DeSci project has been digital and global since its birth, so the business model of digital medical projects like AxonDAO -Use the DePIN model to incentivize user data nodes and provide data productivity through AI. At the same time, the entire ecological network is incentivized through the Web3 token economy, and the decentralized governance model through DAO can help the project obtain huge network utility from the beginning and bring about a flywheel effect.

Especially for individual health monitoring, status scale filling and early screening tests in psychological, psychiatric, neurological diseases and chronic diseases,This Being able to use lightweight digital media such as mobile phones to complete projects with convenient and multi-frequency data acquisition is a natural fit for using the DePIN model. This may be the main business model of DeSci digital medical projects or Biotech projects in the future.

(X: @AxonDAO)

5.4 Challenges - Uncertainty of early-stage projects

We can see that the project will only complete the community round of financing in December 2023. It has not yet received external funding from VC. The project is still promoted by Axon Company, and the DAO is still in the community construction stage. For the digital medical DeSci market with such a huge space, we don’t know where AxonDAO can go.

5.5 Challenge – Regulatory Compliance of Healthcare Data from DePIN

First of all, each jurisdiction will have its own network security and data protection laws (such as the European Union’s GDPR, the United States’ Data Privacy Protection Act, China’s Data Security Law, etc.), which all regulate the collection, processing, and transmission of data. Make special provisions, especially on cross-border data transmission.

Therefore, although Web3 is global, the collection and transmission of medical and health data based on DePIN is still strictly regulated by local jurisdictions.

Secondly, data involving humans, especially sensitive data such as medical and genetic data, are subject to stricter supervision. Previously, part of the reason why Stepn cut off users in mainland China was due to issues with cross-border transmission of geographical indication data. Recently, the Ministry of National Security issued a document saying: Some overseas map companies use the method of collecting map data in exchange for virtual currency rewards to induce domestic personnel to purchase and use special equipment to "check in" maps, illegally collect sensitive geospatial information data, and upload it to Overseas servers are illegal collection and theft of geospatial data.

5.6 Challenge - The value of data

A The dimension is the value of the data itself. For a business model like Voice A+ that is completely based on data, is the voice data generated through mobile devices valuable? Or is it only valuable in large quantities? How to price the data generated under this model is an issue that the project needs to consider. Or does it need to rise to the dimension of genetic data for data to be valuable?

Another dimension is the value of data usage after AI production, which must be combined with back-end research, new drugs, therapies and diagnostic and treatment services.

How much is data worth? This is actually a question that all DeSci projects need to answer.

6. Write at the end

Recently, our DeSci China community has been doing research on some projects. We would also like to thank Daqi for sharing the information about AxonDAO, which allowed us to see AxonDAO after it was launched on IDO. 10x leap.

Looking back, we are unlikely to participate in an excellent traditional digital health or life medical technology company at such an early stage. Those seats are reserved for pharmaceutical companies and VCs. . But this can be achieved in Web3, and you can also become a member of the organization, you can also become a member of citizen science, everyone is a scientist!

We can see the practice and vision of AxonDAO, and we also look forward to the further performance of the project.

DeSci's implementation in digital health is promising in the future.