Tokenomics 101
Learn more for the AthenaDAO token for women’s health research! 🧬🪩🚀
💁♀️A quick intro to Tokenomics
This part is a bit heavy, but if you want to understand the power of this web3 application quickly, look no further!
A Governance token like ATH kicks off a regenerative funding mechanism!
Members have governance tokens
Tokens = funding for research
With tokens they vote on the funding, initiatives, and the stewardship of IP for the DAO
Successful IP leads to new members and more treasury to fund more women’s health research!
This is why we chose to be a DAO - a Decentralized Autonomous Organization and be part of the DeSci movement.
New incentives and mechanics - Tokens, IP-NFTS, etc
Faster funding mechanism for researchers and entrepreneurs (Femtech)
Transparent - Everything stays on the blockchain and everyone can see it
Researchers, patients/advocates, and funders in one collaborative network: AthenaDAO
Learn more about our ATH token and all other details on our website.
🪩 You can get involved!
From Thursday, August 31st - Tuesday, September 5th, we’ll be hosting our first-ever Genesis Token Auction on the new bio.xyz launchpad platform!!!
🔑 Key Info
Launch: Thursday, August 31st, 2023 at 12 pm CET
Close: Tuesday, September 5th, 2023 at 12 pm EST
Format: Batch Auction
Funds needed to participate: USDC for the bid and ETH for gas fees
🧬 How does AthenaDAO leverage Tokenomics to fund research?
You may have heard of our recently minted IP-NFT, where we are supporting Dr. Mario Cordero and his work in ovarian aging at Pablo de Olavide University with a funding amount of $120 000. His project tackles inflammation that is responsible for ovarian reserve via the inhibition of the cGAS-STING pathway. Mario’s research group is exceptionally positioned to develop novel inhibitors as a tailor-made treatment opportunity for women in need of better options for fertility treatments.
Our IP-NFT enabled an alternative way for Dr. Cordero to get funding - and we’re not stopping here, with 2 more projects in the works and opportunities for scientists in women’s health to obtain funding for themselves.
To learn more, please check out this amazing article written by Ella McCarthy-Page at Molecule.
Soon, we will be hosting a token auction, in which we will really expand our domain by providing more ways for the community to get involved with the research we are promoting.
ATH Token Utility
ATH is built on the Ethereum platform as a capped ERC20 token (standard for Fungible Tokens). Holders of ATH have the opportunity to participate in key decision-making processes within AthenaDAO:
Determine funded IP
Define funding mechanisms
Influence governance structures
Govern the AthenaDAO treasury
Notably, ATH tokens do not confer IP ownership or profit expectations. Instead, token holders collectively decide how to commercialize and bring therapeutic innovations to patients.
👀 Keep an eye out for our post this week with our complete whitepaper!
✅ Auction checklist
To participate in the auction, you need the following:
Ethereum Wallet (Metamask, Rainbow, other)
Some ETH
To facilitate transactions on the Ethereum blockchain, ETH is essential. It covers the 'gas' fee required for smooth operations.
USDC (for bidding)
A defined maximum amount you are willing to bid per token
🪜 Steps for Bidding
Visit the bio.xyz launchpad.
Connect your wallet through MetaMask or WalletConnect.
Initiate the first transaction to permit bio.xyz to employ your USDC for bidding.
Specify your desired token quantity and maximum bid price.
In the second transaction, place your bid and confirm within your wallet.
If you’re having trouble purchasing ETH, visit a centralized exchange. Need help finding out how to buy ETH for your country? Check out this guide here.
❓Why a Batch Auction
For the token launch, AthenaDAO has decided to go with a "batch auction". This method 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.
The Genesis Auction will release 2% of the total ATH token supply.
🚨 TLDR
Bid at your maximal price, surpassing the minimum price per token, which escalates as participation increases.
All bids are collected and sorted according to price.
Successful bidders with a maximum price equal to or higher than the final auction price acquire tokens at this rate.
Bidders with a maximum price lower than the final clearing price won't receive auctioned tokens and must withdraw their bids.
To ensure you are not outbid, check the platform often and update your bid as needed.
🗣 Let’s talk Web3 for Women’s Health
On Thursday, August 31st, at 11 am EST / 8 am PST / 5 pm CET, we will be hosting a X (Twitter) Space with some very special guests. See you there!
Bidding - Deep Dive
For a more in-depth guide to bidding and how to participate in the token auction, we highly recommend checking out Molecule’s “How-To Guide”, which explains each step of the process in a clear way. 👇
You can explore the live auction information on Molecule’s platform, observing bidding activity by fellow participants. Keep in mind that values can fluctuate with others' bids. It's a good practice to monitor the auction closely, especially as it nears closing time.
It’s important to decide your bidding budget wisely. Ensure your bid amount exceeds the minimum bid requirement. If you're feeling adventurous, hit "Max" to bid all your Bid Tokens. Once you've picked your amount, don't forget to give it the green light by approving it in your wallet. Molecule’s platform also provides you with metrics as to what your chances are of getting outbid. A bidding price notification of “low” means you are likely to get outbid, while a notification of “high” means your bid should be safe.
Remember to keep checking the platform to ensure you do not get outbid!
Once the auction closes, you’ll want to check the results. If you were not successful, meaning you did not receive tokens, you will either be fully refunded or will receive a hybrid return, meaning you will get both tokens and a refund.
→ Success: Successful bids lead to token allocation.
→ Refunds: Bids not making the cut result in refunds.
→ Hybrid: You'll receive a mix of allocation and refunds.
Tokenomics - Deep Dive
Oftentimes, whether you’re on crypto Twitter or just talking to someone in the industry, you’ll hear key worlds like tokenomics, the blockchain, or NFTs going around. But what exactly does this mean? Let’s break it down. 👇
Tokens: The Digital Building Blocks
At the heart of every blockchain ecosystem lies the concept of tokens. These digital representations of value act as the building blocks of decentralized networks. Much like coins or currency, tokens can hold various forms of value, enabling transactions, interactions, and ownership within their respective platforms.
A blockchain is a digital, decentralized (meaning there is no middleman. This is unlike something like a bank, which acts as the middleman between you and your finances) ledger that records transactions across a network of computers, creating an unchangeable chain of data blocks. This technology ensures transparency, security, and trust in various applications, such as cryptocurrencies and supply chain management.
Utility: For Functionality and Beyond
Utility is the driving force behind many tokens in the blockchain world. These tokens serve a specific purpose within their ecosystems, granting holders access to services, features, or resources. Imagine utility tokens as keys that unlock the doors to decentralized applications, enabling users to engage, transact, or participate in specific activities.
Governance: Empowering the Community
Decentralization isn't just about technology; it's about community involvement and decision-making. Governance tokens play a pivotal role in enabling token holders to participate in the direction of a project. Holders can propose and vote on changes, upgrades, and initiatives, making the ecosystem more democratic and adaptable.
Economic Models: Navigating the Token Landscape
Tokenomics encompasses the economic models that dictate how tokens are distributed, managed, and valued. From supply and demand dynamics to deflationary mechanisms, economic models influence token scarcity, utility, and overall market behavior. Different projects adopt various models to align incentives and drive growth.
What happens when all these factors are put together?
Now, let's explore how these components interact within the blockchain ecosystem. Imagine a symphony where tokens, utility, governance, and economic models dance together to create a harmonious digital economy. As the number of users and transactions increase, demand for utility tokens grows, potentially boosting their value. Governance tokens grant a voice to the community, ensuring that decisions remain inclusive and reflective of users' interests.
Economic models, like token burning or staking, impact the token's value and scarcity, driving economic activity. A well-designed tokenomics strategy can incentivize user participation, secure the network, and promote long-term sustainability.