Proposal: Onboard Vitadao (VITA) with 100,000 BNT Trading Liquidity
VitaDAO is attempting to address the lack of early-stage research funding in novel biopharmaceuticals. It is among a very small collection of cryptocurrency projects that have a focus on something other than the axiomatic financial primitives. The VITA token is earned by contributing to ongoing work, submitting new intellectual property, or funding the research directly. It is a super-interesting use case, and is targeting one of the highest revenue-generating industries in existence. More importantly, the pain-point they have identified is legitimate; discovery-phase funding has been in decline for decades, and as a result, new drug developments have practically stalled. This is one of the potentially civilization-disrupting obstacles the global community is facing in the near future, and is of a similar scale to the effects of climate change. That doesn’t necessarily guarantee the project will be a success - but its motivation is sound.
The VITA token is fixed-supply, standard ERC-20, with no administrator permissions. The token is reasonably well-distributed, with one caveat. One address received 15% of the VitaDAO token supply in an apparent auction in June of 2020. The recipient had 3.3M VitaDAO tokens at that time (then worth approx. $11M), and still has most of it, despite trading the token regularly. I have reached out to the team to ask about it - an active whale with 15% of the token supply is potentially problematic. Not a blocker, necessarily, but worth inquiring about.
Apart from this one curiosity, the project looks green across the board. The customary Tweet from the VitaDAO main Twitter handle has been confirmed. The Voting Automaton will vote FOR whitelisting, after clarification on the token auction is obtained. I suspect this is part of the funding mechanism of the project, and is unlikely to be much cause for concern.