🔑Problems PoSciDonDAO Solves

Problem 1: Centralized and Biased Funding Process

The traditional funding process for scientific research is highly centralized and prone to biases, including political influence, favoritism, short-termism, and inefficient fund allocation. This centralization means that funding decisions are often made by a small group of people or institutions, which can lead to inequitable distribution of resources and hinder groundbreaking research. Moreover, the lack of transparency in the decision-making process undermines trust and reduces the overall effectiveness of scientific funding.

Solution 1: Decentralized and Transparent Funding Platform

PoSciDonDAO addresses the issue of centralized and biased funding by leveraging a decentralized platform built on blockchain technology. This platform democratizes the funding process, allowing decisions to be made by the community through PoSciDonDAO's on-chain governance system. By decentralizing the decision-making process through smart contracts deployed on the Base network, PoSciDonDAO ensures that funding is allocated based on scientific merit and innovation, free from external biases and influence.

Problem 2: Lack of Incentives for Scientific Innovation

Current funding systems often provide insufficient incentives for scientific innovation due to restrictive intellectual property ownership and reward structures. Researchers and innovators are frequently discouraged by the lack of adequate recognition and rewards for their contributions, which stifles creativity and slows down the progress of scientific advancements. This results in limited innovation and hinders the development of personalized therapies.

Solution 2: Dual-Token Incentive Model

PoSciDonDAO built a dual-token model that incentivizes participation and contributions from researchers, entrepreneurs, and other decentralized science enthusiasts that are in our community. The SCI and PO tokens create a robust incentive structure where participants are rewarded for their involvement in the ecosystem. SCI tokens grant voting rights and governance participation. On the other hand, PO tokens, earned through active engagement, can be exchanged for SCI tokens and other rewards. In addition, scientists that have their project funded by PoSciDonDAO will be rewarded with SCI tokens, giving funded scientists a say in PoSciDonDAO's future. This model fosters a collaborative environment that drives innovation and accelerates the development of personalized medicine research.

Problem 3: Inefficiencies and Delays in Funding Allocation

Traditional funding mechanisms involve multiple intermediaries and bureaucratic processes that can significantly delay the allocation of funds to researchers. These inefficiencies not only slow down the progress of scientific research but also increase the cost of obtaining funding. The lengthy approval processes and administrative overheads create barriers for researchers, particularly those working on urgent or novel projects that require swift financial support.

Solution 3: Efficient Blockchain-Based Research Funding

PoSciDonDAO utilizes blockchain technology to facilitate direct and efficient transactions between donors, investors, and scientists. By eliminating intermediaries and employing smart contracts, PoSciDonDAO ensures that funds are allocated quickly and transparently. Each transaction is recorded on the blockchain, providing an immutable and auditable trail of fund allocation. This streamlined process reduces delays, lowers administrative costs, and ensures that researchers receive timely financial support to advance their projects.