There is a 20-year-backlog of potentially life-saving drugs sitting on the shelves in top university laboratories, untested. Moreover, every year, 82% of all grant applications are never funded, not because the science isn’t promising, but due to flaws in traditional funding mechanisms. The purpose of the project is to enable coordination that solves the incentive problems that have previously discouraged breakthrough medical research.
Members join the DAO by being proposed by an existing member who holds the NEAR subtoken. Members and applicants are then able to submit proposals which go through a voting process based on initial set parameters. Approved proposals receive funds.
We have 1,000 customers from an existing endeavor; our approach to adoption for the hackathon was to onboard 3 users since the protocol is currently on testnet and this is an rough mvp without real tokens.