ADP-009: Tokenization of AthenaDAO’s IP-NFT “Understanding the role of the cGAS-STING pathway and senescence in ovarian aging” - Amendment

Amendment

Given the growing momentum around DeSci and community feedback, the AthenaDAO Core proposes an amendment of the FACC offering, with modifications to the tokenomics and auction. These changes aim to give greater opportunity to our community to govern small molecule development to target senescence in the ovaries through the FACC token, which represents governance rights of our first IP-NFT, “Understanding the role of the cGAS-STING pathway and senescence in ovarian aging”. We propose two options:

Option 1:
6.9% Genesis Offering
Supply: 5,000,000 tokens
Total Raise: $75,900
FDV: $1.1M

Option 2:
11% Genesis Offering
Supply: 5,000,000 tokens
Total Raise: $75,900
FDV: $690K

This amendment reflects our commitment to democratizing women’s health R&D governance while maintaining the project’s fundamental value.

Purpose

We are proposing to tokenize our first IP-NFT, “Understanding the role of the cGAS-STING pathway and senescence in ovarian aging” into IPTs. We plan to crowdfund $75.9K to support Professor Mario Cordero at Pablo de Olavide University in Seville, Spain to complete preclinical validation of a small molecule inhibitor targeting a senescence pathway in the ovary.

Background

The project aims to investigate the role of the cGAS-STING pathway and cellular senescence in ovarian aging, with a focus on developing treatments to prevent ovarian reserve loss during aging and improve ovarian reserve in patients with Diminished Ovarian Reserve (DOR) and those undergoing chemotherapy.

AthenaDAO’s initial support for “Understanding the role of the cGAS-STING pathway and senescence in the ovarian aging” via a Sponsored Research Agreement (SRA) was approved in ADP-002. The IP-NFT Minting Ceremony can be viewed here. The IP-NFT can be viewed here.

The IP-NFT covers four aims as follows:

  1. Identification of the specific cells associated with the cGAS-STING pathway activation in aging, and validation of cGAS-STING pathway activation as a target for early Diminished Ovarian Reserve (DOR) in human samples.
  2. Validation of cGAS-STING pathway activation as a target for chemotherapy-induced DOR in both animal models and human patients.
  3. Development and in vitro evaluation of the pharmacological efficacy of novel cGAS-STING pathway inhibitors.
  4. Evaluation of the efficacy of cGAS-STING pathway inhibition in animal models of age-induced and chemotherapy-induced DOR.

Due to early completion of aims 1-3, this project is ready for its second tranche of funding to cover aim 4. Further to this, rather than just continue to fund the second phase, we want to show the community of funders that the research AthenaDAO is doing due diligence on and funding is having early and good positive results.

Progress so far

Dr. Mario D. Cordero’s team has completed the first three aims, validating cGAS-STING importance in chemotherapy-induced DOR in animals, with validation in human tissue from aging women well on its way. Additionally, Dr. Cordero’s team has identified several novel cGAS-STING inhibitors with promising activity in vitro on a relevant model of cGAS-STING activation, and has successfully tested the most promising inhibitor in an in vivo model of systemic inflammation in mice. These inhibitors have the potential to be included in a Composition of Matter patent, which is currently being filed in Europe.

About Mario Cordero

Dr. Mario D. Cordero is a passionate and accomplished researcher with a strong focus on inflammation and metabolism during aging. Holding a Ph.D. in health science and a Bachelor’s degree in Human Nutrition, he currently serves as a Principal Investigator at Universidad Pablo de Olavide, Seville, Spain (UPO), leading the “Inflammation and Metabolism during Ageing Research Group.”

Dr. Cordero brings with him a history of excellence; he has published 90 articles, 8 book chapters, 2 books, and 5 patents, being cited more than 8993 times. Dr. Cordero has experienced the impact of ovarian aging through his wife, and publicly shares his story of using fertility techniques, which led to the conception of his daughter, whom he adores.

Tokenomics

The total supply of FACC (representing fertility accelerationism or f/acc) tokens will be 5,000,000 with all tokens minted at launch. The amount of tokens available in the genesis offering will be determined by the poll below and updated in the whitepaper accordingly.

The use of funds will be broken down as follows, $68K for research and $7K to establish a liquidity pool for FACC/WETH. If the goal is not met, the funds will be returned to participants. Any overflow will be returned to participants.

Researchers will receive 3% upon completion of the first milestone, vested over 4 years, with a 1 year cliff to incentivize long-term success of the project. Upon completion of the second milestone, the researchers will receive an additional 3% of FACC, vested over 4 years, with a 1 year cliff.

AthenaDAO Science and Dealflow Contributors directly involved in the project will receive 3%, vested over 4 years, with a 1 year cliff. All parties with vested tokens will receive vFACC so that they can participate in governance during the lock period. An Entrepreneur-in-Residence (EIR) Project Manager will be assigned at a later date and will require approval by FACC governance. The EIR Project Manager will receive up to a total of 1% of FACC, vested over 4 years, with a 1 year cliff, as milestones are met.

FACC tokens represent membership in an IP Pool with access to the IP-NFT “Understanding the role of the cGAS-STING pathway and senescence in the ovarian aging”, attached IP, and R&D data. Holders will have information rights, which include the right to receive regular, non-confidential updates from the researcher and ask questions to the researcher.

FACC tokens will be issued in accordance with MiCA Title II: Crypto-assets other than Asset-Referenced Tokens or E-money Tokens.

Genesis Auction

The offer of FACC tokens will occur over a 21-day period, where members of AthenaDAO may bid as much money as they are willing to contribute.

In order to bid, the bidder must lock ATH equivalent to the amount of WETH they want to bid at the time of the start of the auction. The value of the bid can be up to the maximum of their ATH holdings locked in the contract. The more ATH a bidder is willing to lock in the contract for the 365 day vesting period, the more that participant may bid during the 21-day period (minimum locking time is 365 days as per the contract). If the goal of $75,900 USD is not met, all funds will be returned to funders.

Conclusion

AthenaDAO’s first IP-NFT has quickly met milestones and is ready for preclinical studies. Tokenizing this IP-NFT will allow the community to drive the project forward by democratizing decision making through governance ownership. Allowing the IPTs to be traded on the market will allow for price discovery and future fundraising, if needed and passed through governance.

  • Agree - 6.9% offering at $1.1M
  • Agree - 11% offering at $690K
  • Agree with changes
  • Disagree
0 voters
1 Like