Elata Basics
Elata Biosciences is a DAO (decentralized autonomous organization) pioneering an open-source model at the intersection of blockchain and psychiatry.
Our mission is to create an open community that utilizes blockchain to finance and govern drug development efforts in high-impact and otherwise overlooked areas in psychiatry.
Elata aims to pursue projects in areas of high unmet patient need by assembling a collective of patients, subject-matter experts, entrepreneurs, researchers, and anyone interested in developing new treatments for psychiatric conditions.
To achieve our goals, we consider the entire drug development pipeline from start to finish by utilizing novel or undervalued basic science and translating these findings into real-world solutions for patients.
Our iterative approach combines the power of working directly with patient communities and alternative governance structures that can finance these innovations.
As drug development is a risky and difficult endeavor, we believe that working with patient communities and front-line experimental medicine outcomes can greatly de-risk the process and lead to better outcomes for all.
Why a DAO?
A DAO is the most sensible solution to our issue, as it effectively combines aspects of centralization and decentralization, is modular, and generally adopts characteristics from corporations and non-profits while remaining fundamentally distinct from both.
Psychiatry has long struggled with data silos, poor alignment of incentives, riskiness, and innovative research.
Accordingly, biopharmaceutical corporations have widely divested from early-stage psychiatric R&D and struggle with incentive alignment, whereas non-profits and public spinouts struggle heavily with efficiency, human capital, and productization.
We see Elata being a practical way to solve issues in psychiatry for the following reasons:
A DAO is decentralized, is free of barriers to entry, and perhaps even more focused on ethics, meaning anyone can contribute to and partake in the upside of successful efforts.
Can cover the high costs typically associated with scientific research and drug development using funds from the DAO treasury.
It is scalable, modular (many initiatives can be executed simultaneously), and thus, more efficient.
This website is primarily used to host our Whitepaper, which includes a comprehensive outline of the problem, solution, the steps we intend to follow to achieve our goals. Information on governance and tokenomics is also included.
Links:
Sections
Last updated
