Decentralization Science New Star: Gene Data Management Platform GenomesDAO

GenomesDAO is an intriguing Decentralization science ( DeSci ) project that has recently garnered the favor of well-known investment institutions. The project focuses on genome data management, aiming to return control of genetic data to users.

Overview of the DeSci Track

Decentralization science has gradually gained attention in recent years, aiming to create public infrastructure through Web3 technology to support scientific research in a fairer and more transparent manner. DeSci focuses on three main areas:

1. Innovative financing model for scientific research projects
2. Reshape the way of scientific research collaboration
3. Utilize Decentralization storage to protect intellectual property

Although DeSci has not yet become mainstream, it has gained recognition from some institutions and industry leaders. Compared to other popular concepts, DeSci focuses more on promoting scientific research innovation, and its long-term value is worth looking forward to.

GenomesDAO Project Introduction

GenomesDAO was established in 2018 and is one of the pioneers in the DeSci field. As a biotechnology DAO, it is dedicated to building a secure, decentralized genomic testing platform. In the context of recent genome data leakage incidents, the existence of GenomesDAO is particularly important.

The core concept of the platform is to allow users to take control of their genomic data. Unlike traditional models, GenomesDAO users can manage their "on-chain database" and profit from it. The platform achieves user data sovereignty through mechanisms such as DAO governance, privacy protection, and token incentives.

User Participation Methods

The operating model of GenomesDAO is as follows:

1. Provide users with genetic testing services
2. Upload the detection data to a decentralized database, accessible only by the user himself.
3. Third-party institutions use platform tokens to apply for data access
4. Users can independently decide whether to agree and receive corresponding rewards.

Users need to purchase a testing kit and submit samples. After the testing is completed, users will receive an NFT similar to SBT, which is used to bind their wallet and access data. After that, users can choose whether to allow third parties to access their data in order to receive platform token rewards.

Token Economic Model

The native token of GenomesDAO, $GENOME, has multiple uses:

• Payment method for accessing data as a third-party institution
• Users unlock payment tools for disease testing reports
• DAO governance token, can be staked to obtain voting rights and rewards

The current market capitalization of $GENOME is approximately 16.5 million dollars, with a unit price of 0.0174 dollars.

Project Prospects

GenomesDAO has multiple advantages:

• Available products and revenue models
• Potential narrative
• The development team continues to work hard.
• Not overly hyped, still has room for growth
• Gained support from well-known investment institutions

The project team is actively collaborating with governments and pharmaceutical companies to create more data monetization opportunities for users. At the same time, it is also attracting Web2 users to join the ecosystem.

In summary, $GENOME may become a potential investment target. However, investors need to be patient and hold at least until the overall heating up of the DeSci track. It is recommended that investors conduct their own research and make rational decisions.