How to DeSci 101
Get ready for our Community Governance Token Launch!
Announcing our Genesis $ATH Token Auction 🪩🧬🚀
If the Girl Economy is here, and #DeSci is going mainstream, then the timing for our community $ATH Governance Token Auction, could not be better!
Set your calendars 🗓️ HERE for Thursday, August 31st, 2023.
Let’s make women go to the moon!!!! 🚀
Checklists first ✅
Get ready to #DeSci! It is the community-driven way to push forward overlooked areas of research, like women’s health.
Join our Discord or Telegram to the learn more! 💁♀️
Join us during our special Office Hours next week! We will be answering all your how-to questions on:
Joining Discord
How to set up a wallet
How tokens work
What token auctions are
How to get involved with governance and voting
The drop-in sessions will take place from Monday, August 21st to Friday, August 25th at both 8:30 am CET and 12 pm EST.
Let’s do this! 👩🏫
☑️ Getting started on Discord
Download the Discord App
Create an account
Verify yourself in the AthenaDAO Server
Always introduce yourself
Check the “Start-Here” for more information
Become a member or contributor!
Security:
Always use Discord on your Mobile/Desktop - In App
Be careful with Direct Messages from Bad Actors and don’t click on links from strangers
WATCH: How to create a discord profile VIDEO
☑️ Create a crypto wallet
Why an Ethereum Wallet?
An Ethereum wallet allows you to safely store, send, and receive Ether and ERC-20 tokens like ours. Think of it as your digital passport to the Ethereum network.
Wallet Options:
Web Wallets (e.g., MetaMask, MyEtherWallet)
Mobile Wallets (e.g., Trust Wallet, Coinbase Wallet)
Hardware Wallets (e.g., Ledger Nano S, Trezor)
Desktop Wallets (e.g., Exodus, Electrum)
Security First:
Always choose reputable wallet providers.
Enable 2-Factor Authentication (2FA) if available.
Regularly back up your wallet.
NEVER share your private key or seed phrase.
WATCH: Setting up a metamask wallet VIDEO
Other reference links:
☑️ How Tokens work (Tokenomics)
You have two types of tokens:
Fungible Tokens: Interchangeable assets, like paper currency or coins. Think of ETH, VITA, ATH, etc.
Non-Fungible Tokens (NFTs): Unique tokens representing unique assets. Think art, collectibles, and even tweets.
Notes on the $ATH Token Holders
ERC20 Token Standard
$ATH is built on the Ethereum platform as a capped ERC20 token. Adhering to this widely-accepted standard ensures compatibility, security, and integration with other Ethereum-based protocols.
Governance Role of $ATH
Holders of $ATH have the privilege to partake in key decision-making processes within AthenaDAO. From allocating funds to research projects to shaping governance policies, your voice matters.
The Sustainability Loop
$ATH's design thrives on the sustainability loop principle. As our research projects yield positive outcomes, the value of AthenaDAO's IP grows, catalyzing a virtuous cycle of growth and value creation.
No IP Ownership:
While $ATH empowers you with governance rights, it doesn’t equate to owning intellectual property. It’s a tool enabling the community to steer AthenaDAO's path, ensuring our focus remains undivided.
☑️ The $ATH Token Auction - Batch Auction
What is a Batch Auction?
A tried and true pricing method, batch auctions have their roots in traditional finance, used in prominent IPOs and even daily stock market openings. It ensures everyone gets a fair shot at the best price.
Key Advantages:
Front Running Resistant: No bots jumping the queue! This approach safeguards against them buying tokens early only to sell them later at higher prices.
User-Friendly Bidding Experience: No rush! Participate when you want without trying to time your bids for the best price. The power is in your hands.
Control Over Price: Decide the maximum price you're willing to pay. No more committing blind without knowing the eventual valuation.
Fair Pricing for All: Every participant gets the token at the same final clearing price determined at the auction's end—pure fairness in action.
Why We Chose This:
AthenaDAO believes in harnessing proven, successful mechanisms to offer our community the best. This method is transparent, fair, and user-centric. Just the way we like it!
☑️ Auction Process
Watch this video!!! 👇
Auction Registration
Users interested in participating should register for the auction. Collect essential details: participant's identity, Ethereum address, and the maximum amount they are willing to bid.
Note: USA will be geolocation restricted
Bidding Process
During the auction window, participants place their bids indicating how many $ATH tokens they want and at what price.
Participants can modify their bids anytime during the auction but cannot cancel after the auction closes.
Auction Close
Once the auction duration ends, no more bids are accepted.
Clearing Price Calculation
Calculate the clearing price. It's the price at which the entire batch of $ATH tokens can be sold.
Starting from the highest bid, aggregate the total demand until the supply of $ATH tokens is exhausted. The last accepted bid sets the clearing price.
Token Allocation
All winning bidders receive the $ATH tokens at the clearing price, irrespective of their individual bid prices.
To ensure that your bids are successful, keep checking the platform and adjust your bids accordingly.
Funds Collection
Collect the funds from winning participants based on the clearing price.
Non-winning participants get their funds returned.
Token Distribution
Distribute the $ATH tokens to the winning bidders' provided Ethereum addresses.
☑️ Governance and Voting Work
Why Governance and Voting are Important:
They allow for decentralized decision-making.
Help resolve conflicts and disagreements in the community.
Enable changes and improvements to protocols or projects.
Types of Governance:
On-Chain Governance: Proposals and decisions are made directly within the blockchain.
Off-Chain Governance: Decisions are made outside the blockchain, often through discussions and informal consensus.
Voting Mechanisms:
Token-based Voting: Token holders vote on proposals based on the number of tokens they hold.
One-person, One-vote: Each participant gets one vote, regardless of their stake in the system.
Quadratic Voting: Participants allocate votes on multiple issues, but the cost of voting more times on one issue increases quadratically.
Proposal Creation:
Community members can submit proposals for changes or improvements.
Voting Process:
Duration: Voting usually lasts for a specific period.
Participation: Depending on the system, there might be a minimum participation threshold for a vote to be valid.
Majority: Some decisions might require a simple majority, while others might need a supermajority.
Implementation:
Once a proposal is approved, the changes are implemented by the Core Team and Working Groups Stewarts.
Tools:
Proposals are discussed on Discord
Proposals are voted on Snapshot (voting on-chain)
🎓 You know the basics now! But in case you have questions, we are here for you next week!
About DeSci
Decentralized science (DeSci) is a movement that aims to build public infrastructure for funding, creating, reviewing, crediting, storing, and disseminating scientific knowledge fairly and equitably using the Web3 stack.
Decentralized science allows for more diverse funding sources (from DAOs, quadratic donations to crowdfunding and more), more accessible access to data and methods, and by providing incentives for reproducibility.
DeSci use cases:
Publishing
Reproducibility and replicability
Funding
IP ownership and development
Data storage, access and architecture
Important Reference Links:
About BioDAOs
BioDAOs can coordinate internet-native talent, enable decentralized fundraising and governance, or help create standardized methods of data collection and production, among other things. They can be philanthropic or for-profit. While BioDAOs have a limitless design space, their key innovation is their lack of gatekeeping and the use of technology to mediate decisions by large, mission-aligned patient communities.
One element that all BioDAOs have in common: they address a problem that has so far been unsolvable given the lack of incentive mechanisms for widespread collaboration in biotech.
Super clear and very well-written guide!