HairDAO (HAIR)

Research and Development

HairDAO is an open-source network where patients and researchers work together to create new treatments for hair loss. It collects treatment experiences and funds scientific studies to find better solutions.

Community Governance

The HAIR token lets community members vote on decisions, including which research projects to fund. This makes HairDAO a decentralized group where everyone can help guide the work.

Intellectual Property and Funding

HairDAO uses blockchain technology to manage patents and research data. It raises money through token sales and investments to support drug discovery and clinical trials.

Product Development

HairDAO also develops products like a soothing scalp shampoo that supports hair regrowth. Profits from these products help fund further research.

Collaboration

HairDAO partners with scientists and labs worldwide to test new ideas, such as thyroid hormone treatments, aiming to find effective hair loss therapies.

Pros of HairDAO

• Unique Focus: HairDAO uses crypto to fund early-stage research and development (R&D) for hair loss treatments, which is a novel use of blockchain technology.
• Community Governance: Holding HAIR tokens gives users voting power to decide which projects get funded, promoting a democratic and transparent decision-making process.
• Open-Source Collaboration: It encourages collaboration between patients, researchers, and investors in an open-source environment.
• Innovative Use of IP-NFTs: HairDAO plans to mint intellectual property as NFTs, helping to secure and share research findings.
• Growing Market Activity: Recent data shows increasing trading volume and price growth, indicating rising interest and market engagement.

Cons of HairDAO

• Limited Exchange Availability: HAIR tokens are mainly traded on decentralized exchanges like Uniswap, which may limit accessibility for some users.
• Low Trading Volume: Despite recent increases, overall trading volume remains relatively low compared to major cryptocurrencies.
• Governance Token Utility: Currently, the token’s main use is governance voting, with other utilities expected but not yet fully developed.
• Market Volatility: Like many cryptocurrencies, HAIR’s price can be volatile and influenced by broader market trends.
• Niche Market: The focus on hair loss research is specialized, which might limit broader adoption outside this community.

For more details, visit HairDAO’s official website.

Founders

HairDAO was founded by Andrew Verbinnen and Andrew Bakst in 2021.

Roles

Andrew Verbinnen and Andrew Bakst are the co-founders who lead the project focused on decentralized research and development for new hair loss treatments.

Investors in HairDAO

HairDAO has raised about $3.3 million in funding. Some of the known investors include BeakerDAO, Bizantine Capital, Boost VC, Cherry Ventures, and ID Theory. Additionally, Zee Prime Capital is listed as an institutional investor. The project was founded by Andrew Verbinnen and Andrew Bakst, who are also involved as investors.

For more details, you can visit their official site: https://www.hairdao.xyz/

Halal Status of HairDAO

• Yes, HairDAO is considered halal because it operates as a legitimate decentralized marketplace for hair styling services and research, involving real commerce and service provision.
• The project’s business model aligns with halal principles since it facilitates payments and governance without involving prohibited activities like interest (riba) or unethical practices.
• Current data shows HairDAO focuses on ethical, community-driven hair loss research and treatment development, which supports its halal standing.