AxonDAO Reshapes Digital Healthcare with Web3

In today’s digital economy, there is no denying that our data is everywhere and holds immense value. However, often these individual data are aggregated into the hands of large institutions, which in turn bring enormous commercial value to them. Now, with the continuous maturation of biometrics, blockchain, and AI technology, as well as the gradual implementation of Web3 value internet business models, this situation is changing. We can now retain and control individual data in unprecedented ways and collaborate to participate in and create value from this data, ultimately benefiting individuals and promoting social development. In this regard, DeSci can solve many problems. For example, in the field of digital healthcare, people can contribute their own voice data to participate in and promote research on early screening of Alzheimer’s disease. This article will explore how AxonDAO, an early project of DeSci, utilizes biometrics, blockchain, and AI technology, combined with DePIN, to reshape digital healthcare and promote citizen science.

1. AboutAxonDAO

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, initiated by Axon, a company with decades of experience in digitizing and informatizing healthcare systems, aims to reconstruct the interaction between humans and their health data using blockchain and artificial intelligence. AxonDAO collects medical health data through DePIN and utilizes various input methods such as biometrics, genomic data, and other key health indicators to form specific AI precognitive algorithms. These algorithms standardize, tokenize, and protocolize the data, facilitating its application in backend research, new drugs, therapies, and diagnostic services. AxonDAO not only monitors individual data itself but also predicts individual future health conditions.

Axon was founded in 2014 as a digital healthcare startup. During the COVID-19 pandemic in 2020, Axon closely collaborated with clinical data companies, remotely connecting their research and practices to help struggling healthcare systems through difficult times. After discovering the enormous potential of Web3 in 2021, Axon transformed into AxonDAO, innovatively integrating the traditional commercial model of healthcare with the Web3 token economy model, providing solutions for the yet-to-be-perfected healthcare industry, while ensuring transparency and enhancing public participation through decentralized governance.

1.2 AxonDAO‘s Vision and Mission

AxonDAO envisions building a future where medical research interacts with individual health data in real-time, directly connecting universally generated individual health data with medical scientific research and standardizing it. All data is centered around individuals, ensuring data security, anonymity, and individual ownership, meeting scientific evaluation standards, and facilitating access to medical scientific research. AxonDAO not only records data contributions through DeSci but also incentivizes data contributors, especially those from early participants, and reveals the true potential value behind this data to everyone, enabling the general public to become early participants in citizen science projects and driving breakthroughs in innovative therapies and medical research through the persistent power of blockchain. AxonDAO’s mission is to democratize medical science through decentralization, replacing the monopoly of large pharmaceutical companies with a community with common goals and spirit. The purpose of establishing AxonDAO is not only to promote decentralized science but also to completely change and redefine science.

（$AXGT Token - #DeSci #DePINPower House for Healthcare）

2. What AxonDAO plants 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 seasoned veteran deeply rooted in the digital healthcare industry, AxonDAO is well aware of the challenges in the digital healthcare sector and seeks to transform them through DeSci.

2.1 Innovative Project Funding Approaches

AxonDAO leverages the power of blockchain to establish a transparent and democratic project funding mechanism, aimed at aiding early-stage medical science projects in securing funding and enhancing their ability to make medical scientific discoveries. This addresses the biggest sticking point for obscure researchers. AxonDAO initiated community fundraising rounds in December 2023 and January 2024, issuing its governance token, AXGT. This governance token enables token holders to provide funding and participate in governance, guiding and shaping community project funding proposals. Since the community is still in its early stages, Axon, as the initiator of AxonDAO, has temporarily launched three digital healthcare projects to drive the development of AxonDAO.

（AxonDAOwhite paper)

2.2 Strategic Collaboration to Build the AxonDAO Ecosystem

The essence of DeSci is collaboration. Over the past few years, AxonDAO has been striving to build its ecosystem. Internally, AxonDAO aims to break down traditional silos in scientific research, enabling researchers to share data, resources, and research findings with unprecedented ease and security. At the same time, AxonDAO utilizes decentralized networks to create a space where scientists, scholars, and innovators can collaborate globally without geographical limitations or institutional barriers, accelerating scientific discovery and innovation. AxonDAO also actively engages in sharing on various social media platforms to exchange cutting-edge DeSci knowledge and implements solutions through transparent communication and democratic processes within the DAO to address issues.

Externally, AxonDAO not only accumulates resources and adds value to DeSci and the digital healthcare ecosystem horizontally but also promotes collaboration across different disciplines and specialties vertically. For example, AxonDAO received funding from the Polygon DeSci Grant in 2022 and participated in the Polygon DeSci Vendor Programs; received funding from the DeSci in Gitcoin’s Beta Round in 2023; and participated in the NVIDIA Inception Program in 2023. The Nvidia Inception Program aims to help startups grow faster by providing opportunities for cutting-edge technology, connections with venture capitalists, and access to the latest NVIDIA technology resources. In this project, AxonDAO will leverage the capabilities of Nvidia AI to capture the value of healthcare data.

（X: @AxonDAO）

2.3 Technological Empowerment

AxonDAO empowers individuals through the development and implementation of scalable blockchain infrastructure (such as solutions using zk technology) to ensure ownership of individual data and HIPAA security issues, ensuring data accuracy and privacy, and providing incentives for data contributors. It builds advanced data analytics and secure data-sharing protocols, allowing raw data to be easily transformed into advanced data, connected in real-time to backend research, new drugs, therapies, and clinical services, and generating value instantly. It develops a set of protocols for citizen science and a user-friendly interface, enabling individuals to participate in cutting-edge medical research in unprecedented ways. AxonDAO’s decentralized research platform, built on blockchain technology, provides a suite of on-chain solutions for the collection, storage, and verification of clinical data. This approach ensures the security and transparency of data processing while also establishing universal standards for individual medical health information, facilitating easier access and control of personal medical health data.

2.4 Future Roadmap

Currently, AxonDAO is still in the community formation stage. The roadmap for the future includes building core working groups, establishing vertical and horizontal ecosystem partnerships in the industry, participating in and supporting the DeSci Summit, launching incubation projects such as DePIN, Voice A+ System for Citizen Science, PSYLOSYS Data Collection Solution, ULTRA+V Data Collection Solution, and launching the DeSci Marketplace.

（X: @AxonDAO）

We can see that, based on its background in medical health information technology, AxonDAO not only enables decentralized project funding and discovery but also delves into the details of the digital healthcare industry to implement solutions in real-time, reshaping the industry chain through blockchain Web3. By combining strong collaboration, transparent practices, community-driven governance, and a growing, vibrant community, AxonDAO has not only envisioned a new era of healthcare but is actively realizing it.

3. AI and DePIN for DeSciAxon

Through early accumulation and resource integration in the healthcare industry, AxonDAO initiated several digital healthcare projects to drive its implementation after transitioning to AxonDAO. In these projects, solutions such as AI and DePIN for DeSci were utilized. For example, Voice A+ - Precognitive Voice Analysis, is a project that tracks voice data to screen and assess diseases such as Alzheimer’s, Parkinson’s, dementia, post-traumatic stress disorder, Huntington’s disease, etc. The project can also monitor fatigue, energy levels, especially in commercial trucks, car drivers, and other heavy equipment operators. The Voice A+ model can also extend to anxiety, stress, and emotional fluctuations detection. In the Voice A+ project, data from project participants can be obtained through DePIN’s model and incentives provided. After collecting, organizing, and processing the data (Raw Data), AI neural networks are built using Nvidia’s capabilities to ultimately produce standardized, valuable data (Advanced Data) for research, clinical, and product/commercialization purposes.

（X: @AxonDAO）

The DeSci project was born digital and global, and business models like AxonDAO’s, which utilize the DePIN model to incentivize user data nodes, provide data productivity through AI, incentivize the entire ecosystem with Web3 token economics, and decentralize governance through DAOs, can help projects gain significant network effects from the outset, leading to a flywheel effect. Particularly for individual health monitoring, psychological, mental, and neurological disorders, as well as chronic diseases, projects that can use lightweight digital media such as smartphones for convenient and multi-frequency data acquisition naturally suit the DePIN model. This may become the main business model for future DeSci digital healthcare projects or biotech projects.

4. AxonDAO’s Token Economy

AxonDAO claims to adopt a “dual-token model”, which includes the governance token AXGT and the security token AXDT. The governance token AXGT’s rights include the conventional governance, voting, and proposal, as well as some medical research-related rights derived from the uniqueness of DeSci, reflecting the value of the entire AxonDAO ecosystem. The adoption of the security token AXDT is not the conventional “dual-token model” as we understand it (such as GameFi’s dual-token model). AXDT is a form of ownership/equity certificate based on the US DAO LLC Act, reflecting the future profit distribution of AxonDAO LLC and the valuation of AxonDAO LLC.

4.1 Governance Token - AXGT

AxonDAO initiated community fundraising rounds in December 2023 and January 2024, issuing its governance token AXGT. On February 13, 2024, AXGT conducted an IDO on Uniswap. AXGT has a total supply of 1 billion, of which:

• 20% was allocated for community fundraising before IDO;
• 4% was granted to early founding members of AxonDAO, including 2% for OG Advisors, 1% for CORE, 1% (DEX, buybacks), with linear unlocking over 12-36 months;
• 6% was allocated to the Working Group, with linear unlocking over 12+ months;
• 3% was used to create liquidity on Uniswap for the ETH-AXGT pair;
• The remaining portion is yet to be unlocked.

（AxonDAOwhite paper)

Utility of AXGT Token:

A. Community access;

B. Governance voting;

C. Proposal submission, allowing projects to be submitted to AxonDAO for voting to obtain funding;

D. Support for research, with a 4% transaction fee applied to each transaction and sale of AXGT used to support DeSci projects, eliminating the need for intermediaries or other institutions;

E. Incentive for data value exchange - AXGT can be converted to ETH and BTC; individual intellectual property (IP) can also be converted to AXGT through AxonDAO’s DeSci application;

F. Donations: Express gratitude to favorite scientists;

G. Product discounts, including discounts on cutting-edge scientific tools, equipment, products, and services recognized by the AxonDAO platform;

H. Customized services for scientists;

I. NFTs;

J. Other pending benefits.

4.2 Security Token - AXDT (AxonDAO Treasury)

AXDT represents ownership of AxonDAO LLC, i.e., equity, reflecting the value of future profit distribution and valuation of AxonDAO LLC. Only accredited investors or institutional entities can purchase AXDT security tokens under US securities laws Reg D 506 (c). Interestingly, AxonDAO LLC is established as an LLC company under the Wyoming DAO Act, and this organizational structure of a DAO LLC established under state law can both navigate the complexity of US securities laws and embody the spirit of decentralized autonomous organizations (DAOs) within the framework of a limited liability company (DAO LLC). The distribution of AXDT is as follows:

• 65% for AxonDAO Treasury;
• 20% for AxonDAO members - partners;
• 10% for AxonDAO core members, advisors, contributors;
• 5% for Reserve.

（AxonDAO white paper)

5. Opportunities and Challenges

5.1 Opportunity - Leading the Launch of DeSci in North America

We can see that DeSci has been thriving in Europe, especially with numerous specialized domain DAOs initiated by Molecule, such as VitaDAO focusing on life longevity research and drug discovery (which has received investment from traditional pharmaceutical giant Pfizer), ValleyDAO for synthetic biology and climate change, HairDAO for hair loss issues, and AthenaDAO focusing on women’s health, among others. As the main player in North America, AxonDAO may play a leading role in advancing the development of the DeSci community in North America to some extent, acting as a flagship entity.

5.2 Opportunity - Beyond a Project Funding and Incubation Platform

We can see shadows of the Molecule, a leading DeSci project funding and incubation platform in Europe, reflected in AxonDAO (for more information on Molecule and VitaDAO, refer to “DeSci: Exploring Business Models and Feasible Paths for Biotech Projects in Web3”). Besides fundraising and incubation, we also observe AxonDAO’s preparations for building data standardization protocols, AI precognitive algorithms, data asset trading platforms, and real-time collaboration between data and research based on its rich experience in digital healthcare and senior industry resources. Once these visions are realized, it will reshape the digital healthcare industry, especially for medical services and drugs that require the development of large amounts of healthcare data, such as digital therapies for psychological, mental, and neurological conditions.

5.3 Opportunity - AI, DePIN for DeSci

As mentioned earlier, DeSci projects are inherently digital and global from their inception. Therefore, business models like AxonDAO’s digital healthcare project, which utilize the DePIN model to incentivize user data nodes, provide data productivity through AI, incentivize the entire ecosystem through Web3 token economics, and govern decentralization through DAOs, can help projects gain significant network effects and create a flywheel effect from the beginning. Especially for individual health monitoring, questionnaire filling, and early screening tests in psychological, mental, and neurological disorders, projects that can use lightweight digital media such as smartphones to easily and frequently obtain data are naturally suitable for leveraging the DePIN model. This may be the primary business model for future DeSci digital healthcare projects or biotech projects.

（X: @AxonDAO）

5.4 Challenge - Uncertainty of Early-stage Projects

We can see that the project completed its community fundraising round in December 2023, without yet securing external funding from VCs. Currently, the project is still driven by Axon Corporation, and the DAO is still in the community-building stage. For a digital healthcare DeSci market with such vast potential, it remains uncertain how far AxonDAO can go.

5.5 Challenge - Regulatory Compliance from DePIN Healthcare Data

Firstly, each jurisdiction has its own regulations regarding cybersecurity and data protection (such as GDPR in the EU, data privacy protection laws in the US, data security laws in China, etc.), especially concerning cross-border data transfer. Therefore, despite the globalization of Web3, DePIN-based healthcare data collection and transmission are still subject to strict regulation in local jurisdictions.

Secondly, data involving human beings, especially sensitive data like medical and genetic information, are subject to even stricter regulations. Previously, Stepn cut off some mainland Chinese users partly due to issues related to cross-border transmission of geolocation data. Recently, the Ministry of State Security issued a statement indicating that certain overseas map companies, through offering virtual currency rewards for collecting map data, incentivized domestic users to purchase and use specialized devices for map “check-ins,” illegally collecting sensitive geospatial information data and uploading it to overseas servers in real-time, which constitutes illegal collection and theft of geospatial data.

5.6 Challenge - Valuing Data

One dimension is the inherent value of the data itself. For example, in business models entirely based on data like Voice A+, is the voice data generated by mobile devices valuable? Or is it only valuable when there’s a large volume of it? How to price the data generated under such a model is a question that projects need to consider. Alternatively, does data only become valuable when it reaches the level of genetic data?

Another dimension is the value of data usage after AI processing, which needs to be combined with backend research, new drugs, therapies, and diagnosis and treatment services. How do we determine the value of data? This is actually a question that all DeSci projects need to answer.

6. Conclusion

Recently, our DeSci China community has been researching some projects, and we thank Daqi for sharing information about AxonDAO, which showed us AxonDAO’s leap of 10x after its IDO launch. Looking back, it was unlikely for us to participate in an excellent traditional digital healthcare or life medical technology company at such an early stage, as those opportunities were reserved for pharmaceutical companies and VCs. However, this is achievable in Web3, and you can also become a member of the organization, a member of citizen science! We can see AxonDAO’s practice and vision, and look forward to further performance from the project. The implementation of DeSci in digital healthcare holds promising prospects for the future.

Note:

This article is for learning and reference purposes only. It is hoped that it will be helpful to you and does not constitute any legal or investment advice. Not your lawyer, DYOR (Do Your Own Research).

声明：

1. 本文转载自[Web3小律]，著作权归属原作者[Will 阿望]，如对转载有异议，请联系Gate Learn团队，团队会根据相关流程尽速处理。
2. 免责声明：本文所表达的观点和意见仅代表作者个人观点，不构成任何投资建议。
3. 文章其他语言版本由Gate Learn团队翻译， 在未提及Gate.io的情况下不得复制、传播或抄袭经翻译文章。