We are excited to announce the launch of the first application built for the Molecule Protocol on Ethereum Mainnet. Molecule Catalyst provides a platform for researchers working on novel therapeutics to raise funding from the public. Our mission is to democratise research funding and allow the public to engage with researchers while new discoveries are happening.
Here is how it works:
- Peer-reviewed, cutting-edge research projects are listed on the platform and you will be able to review all transparently shared details.
- No need to create an account, just use your MetaMask wallet for identification.
- Contribute to research projects using the stable cryptocurrency Dai.
- In return, you will receive unique Project Tokens. Increase their value by sharing the fundraising project with your network and motivating more people to contribute.
- Sell your Project Tokens and receive a potential reward for supporting the project early, promoting it, and making the fundraising campaign a success.
- If fundraising goals and timelines are not met, you can get your contribution back in exchange for the distributed tokens.
Building on Ethereum and using Dai introduces several advantages compared to more conventional fundraising platforms:
- Accessibility — Anyone can contribute
- Efficiency — Significant fee reduction for researchers and contributors
- Transparency — All funds are managed by smart contracts and transactions can be publicly audited
Furthermore, Molecule Catalyst uses a novel cryptoeconomic mechanism, called a Token Bonding Curve, to create a better crowdfunding experience for scientists. We believe that this will incentivize contributors to promote campaigns within their own networks and remove pressure for gaining traction from researchers. Researchers are encouraged to share data and results with their supporter base and excite new contributors about their cause. Lastly, the project is indirectly curated through the distributed token which creates an additional trust-building layer between funders and researchers.
The first project we are launching plans to conduct a clinical trial to study the effects of microdosing psilocybin. We are honoured to partner with Rotem Petranker and Thomas Anderson from the Toronto Centre for Psychedelic Science with support from the University of Toronto Mississauga Psychedelic Studies Research Program (PSRP), pioneering scientists in the area of psychedelic research.
Join us on our journey and be one of the first contributors that paves the way for a new area of research funding.
Check out our additional resources for more detailed information: