HairDAO (HAIR)

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Research and Development

HairDAO is an open-source network where patients and researchers work together to develop new treatments for hair loss. It funds early-stage research, including studies on promising drug targets and molecules, such as thyroid hormones T3 and T4, to find effective therapies.

Community and Governance

HairDAO uses its native token, HAIR, as a governance token where 1 HAIR equals 1 vote. Token holders can participate in decision-making about funding research and managing assets, making the project community-owned and driven.

Intellectual Property and Funding

HairDAO uses blockchain technology and IP-NFTs (intellectual property non-fungible tokens) to secure and trade research data and patents. This helps unlock new funding possibilities and improves efficiency by involving the patient-research community in the process.

Access and Rewards

Members of HairDAO get early access to treatments funded by the organization. They can also log their treatment experiences and earn HAIR tokens as rewards for contributing to research and the community.

Decentralized Collaboration

HairDAO operates as a decentralized autonomous organization (DAO) on the Ethereum blockchain, enabling global coordination of labor and capital for hair loss research in a transparent and democratic way.

Pros

• HairDAO is a BioDAO focused on funding early-stage hair loss research and development, aiming to find new treatments and a cure for hair loss.
• It uses blockchain technology to create a community-driven platform where token holders have governance rights (1 HAIR = 1 vote).
• The project mints research findings as IP-NFTs, which is an innovative way to facilitate real-world innovation through crypto.
• HairDAO is part of the DeSci movement, promoting open-source and democratic research.
• The token can be added easily to wallets like MetaMask and traded on decentralized exchanges such as Uniswap.
• HairDAO has a dedicated community including researchers, engineers, and investors contributing expertise.
• The project is unique in combining blockchain with medical research specifically for hair loss.

Cons

• HairDAO’s price has shown volatility and has underperformed compared to the broader crypto market and similar Ethereum ecosystem tokens recently.
• The smart contract owner has the ability to mint new tokens, which may affect token supply.
• HAIR token currently mainly serves as a governance token with limited utility beyond voting.
• Trading volume and market activity are relatively low, with limited exchange listings mostly on decentralized platforms.
• The circulating supply is small compared to the max supply, which can impact liquidity.
• The project is still in early stages with ongoing research and development, so outcomes and token value are uncertain.

Founders

HairDAO was founded by two co-founders: Andrew Verbinnen and Andrew Bakst.

Background

Andrew Verbinnen is also co-founder of Foster Cove Capital and has a background involving crypto venture capital. Andrew Bakst is co-founder of Bizantine Capital. Both have been actively involved in shaping HairDAO’s governance and operations.

Roles

They lead HairDAO as a decentralized autonomous organization focused on funding and developing new treatments for hair loss through community-driven research and blockchain technology.

Investors in HairDAO

HairDAO has raised $3.3 million from a group of investors. Some of the known investors include Atria Ventures, BeakerDAO, Bizantine Capital, Boost VC, and Cherry Ventures. Additionally, Zee Prime Capital is noted as an institutional investor. The total number of investors is 12, with these five being publicly mentioned.

Community and Contributors

HairDAO's community is diverse, including researchers, doctors, engineers, content creators, designers, marketers, and funders. This community actively contributes expertise and helps guide investment decisions and research directions.

Summary

• Total funding raised: $3.3 million
• Known investors: Atria Ventures, BeakerDAO, Bizantine Capital, Boost VC, Cherry Ventures, Zee Prime Capital
• Total investors: 12
• Community includes a wide range of experts and contributors who support HairDAO's mission.

Halal Status of HairDAO

HairDAO is halal because its business model involves legitimate commerce and service provision, which aligns with halal principles. It aims to create a decentralized marketplace for hair styling services, facilitating payments and governance through its HAIR token.

Reasoning

The project supports real-world commerce in hair styling without involving prohibited activities, making it compliant with halal guidelines.