Transcription
[Music] Hello, and welcome to the YouTube cocktail series of Cities APC, with Open Business Council, Fashion APC, and Dennis Guada. I'm Hilton Super, the vice chairman of Student Group, and I'm pleased to conduct this interview with Joey Pereiro. Joey Pereiro of Science Down, where we interview people who are changing the world; people that are inspiring us with their achievements in creativity, acumen, creativity, acumen, with the use of technology.
In previous interviews, Dennis Guada and I have interviewed over 200 amazing people and achieved more than 10 million views on YouTube. This interview series on Cities APC is in partnership with our platform's openbusinesscouncil.org and fashionabc.org. All four—which is Fourth Industrial Revolution-based platforms—utilizing technologies which employ the use of truth and trust through blockchain and the deployment of data analytics like AI and machine learning.
So today, I'd like to introduce you to Joey Pereiro, the CEO of Science Down, which is a decentralized think tank, incubator, engine, and accelerated platform aimed to empower investors, empower investors, entrepreneurs, and institutions to collaborate to make informed decisions in a whole wide spectrum of technologies and life sciences. Welcome, Joe. It's a great pleasure to meet you.
Meet you. Hey, thanks for having me. Thanks. I'm excited to interview today, and I really want to know a little bit about yourself. So who is Joey? Okay, you're a developer and co-founder of Inu Asha, a decentralized incubator accelerator fund that uses dark governance to speed up crypto projects like Guzzler and the Science Staff. You've been on board of executive positions across multiple industries, from blockchain technology to mental health rehabilitation and healthcare platforms. You have led long philanthropic efforts in providing housing and care to close to 50 children, which is something I'd like to touch on a little bit later. And currently, you bring your talent and abundant leadership skills to a multi-project corporation, corporation, consisting of tens of thousands of individuals. Okay, you've worked in many professional startups with multiple industries and industries, and basically as a deal flow aggregator for venture capital investment. So tell me, Joey, where did this all start? Where were you born? Born? Where were you educated?
Well, I, so I'm from Los Angeles. Um, um, you know, just kind of normal, normal, normal upbringing. Uh, two smart parents, older brother, um, you know, and played a lot of baseball growing up. Played a lot of baseball. Yeah, so I always, you know, when when we talk about team building and sometimes when we're working with new companies, sometimes they bring it back to, back to baseball, you know, and I know there's a lot of team sports out there, um, but uh, but uh, you know, there's something about growing up in, in—and I don't think this sounds sad—but growing up in like a dugout essentially with all of your friends playing and practicing every day, you know, games every weekend, especially in Southern California where it's sunny all the time. We play, we played quite a bit growing up. And obviously, there's a manager, you know, the coach is called a manager, and there's an umpire, there's, you know, there's multiple umpires. And uh, so I always, I always say like, you know, young kids uh playing team sports and whatnot with their friends and some type of authority figure is generally pretty good for, for team building, especially for startups. So, um, after that, uh, you know, fast forward, I've moved up to the Pacific Northwest to go to college. Um, I didn't finish college, but uh, it was a good short experience.
What distracted you then? Then? Oh my goodness, distracted me from college. Yeah, college. Yeah, you know what it was? Just too, I think I just had one of those, those personality types that just, I'm not sure if I could uh, if I could sit down and, and do, do a lot of the busy work, you know, you know, it sounds so, I have no real reason to explain except that I, I was put on a, I was put on an academic probation essentially where I had to get a certain, a certain grade, um, grade, um, and so I, I thought, I'm like, okay, well, I'll pick the easiest class that I can find, so I picked an art class which was printmaking. Yeah, and uh, printmaking is not easy. Easy. It's not easy. You know, you take this copper plate and you take this tool called a burin, and you stick and you poke and you scratch the piece of copper so that it holds ink. And so I would be in the studio, you know, for like 100 hours a week just poking at these copper plates trying, trying to get a good grade so I didn't get kicked out of college. And uh, I was, I was like, you know, I can't, I'm not going to do this, you know, when you're someplace and like your, your soul just doesn't feel right, you're like, why am I here right now? I should be somewhere else. That's, that's how it felt. So I just—as I mentioned it earlier in my introduction—I talk about the Fourth Industrial Revolution, industrial revolution, um, and, um, and literally, if you look at the education systems that we have today, you know, it's like an extension of the industrial revolution in terms of you are, you are at that product that's been pushed through the, through the, the machinery, the machinery to come out with a, a technical skill or a, a that is useful to society, etc., and useful to the economy. Economy. And, and you know, that's a very linear process. And then along—as you know—and I know along comes technology where technology sort of flips that around where, around where we talk about what is called Society 5.0, where the, it's like human-centric now because prior to this we are slaves to technology. Technology. Yeah. Okay. Yeah. Okay. Now there's, it's been flipped around where, where we, we in terms of Society 5.0, the citizen is at the center, being empowered by technology around it. Yeah, it's uh, almost like, you know, I know it's a Marxist idea, right, but um, the idea of post-scarcity, right, like eventually, eventually, you know, we might get to that point where, where, you know, we're the humanities investing so much in technology, right, and industry to the point where we, we get, we get to some place where we're human beings can kind of just be human beings again, right, where the, the work becomes automated, right? There's a lot of autonomous labor. AI begins to take over, but at that point it's like, you know, you still, you still need to work, um, you still need to live, uh, you know, so on and so forth. But, but yeah, absolutely. The work that you're doing is something that you love.
Yeah, yeah, yeah. Absolutely. Startups, there's nothing like—I think people that are really hardcore into startup businesses—and I wouldn't say like high-risk situations, high-risk situations—but for me, you know, there's people that go skydive, and it's almost like it's like kind of an empty thrill, right? For me, the, the startup is that, that functioning entity, functioning entity exists out there, and this is going to sound a bit weird or philosophical, but that, that functioning entity exists out there, it's like a complete entity functioning somewhere in space-time, and space-time, and the, the, the, the, the, the joy of walking whatever path based on our choices in order to walk into that, that space where it's already completed, like that journey, which sometimes takes months, years, so on and so forth, it's a, it's kind of like skydiving for like a long period of time, if that makes sense. You know, trying to figure out the correct path through. So, but in your experience, I know you've worked with lots of startups, you, you, you're part of, um, you know, a, a, as a, as a sort of a venture capital community, your advisor, your advisor to, to, you know, you know, the companies that have really gone through the process, um, and I did read an article that you mentioned, um, that the, the amount of capital that's been allocated is allocated is, is obviously increasing or decreasing, depends on the year, but it's going to fewer and fewer opportunities. Opportunities. Yeah, right. That's an interesting thing that you said. Can you explain why?
Yes. My, my, my opinion, um, and I got, I have to see what I wrote, but yeah, my opinion, it, it's really tough, especially in the sciences, and I know at some point we'll segue, you know, over to the Science Style, but, but especially in the sciences, from my limited perspective and experience, of course, um, the weight, the, the duty and the responsibility to invest in some of these very high-risk companies, you know, because the science is, you know, many times it's theoretical, right? There's no proven, uh, you know, there's, there's no proven, uh, anything uh, yet, right, unless there is, and then there's people lined up to try to invest, right? So I think in the very early stage scientific startups, the, the duty falls onto few people, and, and those, those few people, right, whether they're fund managers, whatever they might be, the burden to invest and progress society along, you know, through scientific discovery is, it's a bit tough, right? Because sometimes that seed stage is several million dollars. Dollars. Who knows how they're feeling that day, you know, obviously they're professionals, however, they're, they're only human. Who, who knows what other burdens, for, you know, what other mental bandwidth they have available, um, you know, a lot of, a lot of deals are just one to two, you know, a VC, a fund, they might make one to two investments per year, expecting like a 10-year timeline. Timeline. At the end of 10 years, I mean, they're sitting on the board of, you know, 10 to 20 companies, trying to figure out, you know, where everybody is in their progress. Progress. And so and so with what we, what we imagine is if we can spread that burden out, we would have more rapid development. Private funds, private funds funding, you know, new scientific discoveries, so on and so forth. I mean, in, in, I think what you also mentioned, he said that when you talk to established VCs, when VCs talk to startups and they allocate, they tend to take quite a large slice of the company, and they tend to start dictating the direction, which is risk-averse rather than risk-taking, which is effectively what startups are. Is that, you know, an interesting way of, of looking at what you say? You say?
Yeah, I, it depends on the personality of the fund manager, obviously, but they're representing many investors, lots of times, right? There's sometimes, you know, banks, private offices, whatever it might be, are invested in that VC fund, and so they do have to mitigate risk, of course. Course. Um, um, yeah, and so whether it's, you know, you know, whatever the, the cap table ends up looking like, um, for that startup, in some cases, yes, the number of board seats that they're able to obtain with their capital contribution can, can sort of dictate on whether a CEO is performing adequately to their, to their liking, right? And so they can, you know, occasionally direct the course of action uh, based on that, right? It's their money, um, so, so I think with the, with these DAO structures, structures, you know, you're mitigating risk, the cap table doesn't have to look strange to a, to a startup, but you're mitigating risk potentially over thousands of people, and so like the risk becomes less and less per individual. Individual. And so it's, it's not as burdensome, right?
Yeah, exactly. I mean, before we get into the DAO, and I think we'll talk about that a little bit later, I just wanted to sort of step back, couple of, of, you know, in timeline, what, what brought you into this world of blockchain, crypto, artificial intelligence? Artificial intelligence? You know, what, what was the catalyst for you?
You, uh, I'd say my older brother, um, I remember when, when Bitcoin, when Bitcoin was really running, and it was—well, it wasn't really running, it was, it was, it was there at its inception—um, he was just like, you know, calling me, calling, you know, everybody, like, give me, give me money, I'm buying Bitcoin. What level was he buying? Oh, cheap. Very cheap. Yeah, uh, 15 cents or dollars? No, dollars, maybe a hundred dollars, 200, you know, around there. Um, yeah, I think it was like sub 5 million users or something, you know, right, like pretty. So he doesn't need to work anymore then, I presume? He, he does not, um, but he probably should, just to stay healthy, mentally healthy. Mentally. Yeah. And my, my sister-in-law is a doctor, so she'll, she'll take care of him too. [Laughter] [Laughter] That's excellent. That's excellent. So you were, you intrigued? Were you at school and university? You said, you know, you were, um, um, at college, you, you know, you took the art class and you were doing printing, but what was your interesting technology at that time? That time?
Oh, I don't know, you know, my, I have some, some family members that are like long-standing uh, technology veterans, um, you know, industry leaders and whatnot. And so I always, I always looked up to them. Them. I thought, wow, that's super, that's super cool. Um, when I was a young kid, my, my brother was, you know, super smart with, with computers and everything. And so we would, they would send us to go test, uh, like math games, you know, like, uh, Math Blaster. Math Blaster. I don't know if anybody remembers that one, but like these little video games, right? And, right. And, but also, so I think one thing that really got me into blockchain as well, and I don't credit her uh, enough, I think just from afar, you know, in terms of admiration, one of my childhood, my childhood friends that I went to elementary school, lived around the corner, actually founded MyEtherWallet, MEW. Yeah. And so I remember uh, when ETH was super, very cheap, and uh, my one of my closest friends from college was working on an ETH-based project, you know, that the DAO they were going to raise money from the DAO. He's like, give me money, it'll, it'll 1000x, you know, like really fast. And I was like, what's going on with this? So I started to accumulate a little bit of ETH. ETH. Um, like, okay, I might as well. He's like, not, you know, he won't stop about Ethereum, he won't stop. And then I see Taylor, uh, you know, out there doing some interviews and whatnot, you know, with the Wallet Project. Wallet Project. And, and I'm like, okay, you know, but then maybe a month or two after that, after I really started diving into crypto, the original, original DAO was hacked, and they had to hard fork uh, ETH, right? And so I'm like, I thought this was immutable and unhackable and all this stuff, and here they are—I thought it was decentralized—but like they got, they got hacked, and they were able to go back in time essentially and, and hard fork and recover everybody's money, which was, you know, you know, it's kind of like that didn't sound decentralized, you know, they could. Yeah. But so it's for this, for the, for the benefit of our audience, I always like somebody, you know, to explain, we talk about DAO, but can you explain what a DAO is?
Yeah. Well, so the original DAO was essentially a decentralized venture capital fund. DAO, DAO is a decentralized autonomous organization, right? Yeah. And the, the idea, right, the end goal for a DAO would actually be a computer program, right? Like software code that governs itself, um, because then the code, right, and the decision-making would be immutable, it would be hard-coded, and therefore there's no like human elements, elements, um, you know, political party or belief bias that could affect the way that the, the software governs itself, right? Um, I think that there's a bit of a flaw to this because, you know, anybody can—it's very difficult—after having like inside of our ecosystem and our DAO essentially, we have tens of thousands of people, right? And, and having everybody vote on, on everything to get some is, is flawed in my opinion, you know, um, so I do believe in a bit of a technocratic lead or filter type system for DAO, for DAO, for the time being. I believe that needs to be human, human-run. At some point, a computer program, like AI or something, will, will—currently it's probably able to do this—okay, but will have accumulated the knowledge base from every, you know, technocratic leader, technocratic leader from the entire world essentially, and be able to make like a, as close to a perfect decision as possible on which direction to go. For the time being, I think a human element is very important to add. So that's like what the original DAO was, that's what a DAO is probably supposed to be, as a computer program that can govern itself, right? Um, make decisions based on the smart contracts. Okay. For, for us, we, we use—I mean, I would say that human beings are involved in that smart contract, right? Like if the DAO is a smart contract, you can, I believe, have human beings helping the process through, because there's a lot, lot of nuances in, in human behavior that I don't think that machines are able to quite pick up on, just, just yet. Um, and so for us, it's more of a contribution type, type of DAO, like who, who is actually working on the project, and, and those people should essentially be prioritized, right? Like contributions, contributions, and should be rewarded, right? With, with some type of merit inside of it now. So anyway, that's, that's my take. It's probably flawed, probably flawed, uh, but, you know, no, it's not flawed. This is—I mean, look, at the end of the day, we are—as I mentioned um, previously—we talked about Society 5.0, where, you know, you're putting the individual at the center of enabling technology. Technology. And the engagement through technology with opportunities, opportunities, businesses or whatever has to be done where the, the individual is not the product.
Yeah. Data, as we know, and there's big, there's big discussions about, you know, you know, the big platforms—I won't name them, but we all know who they are—are utilizing us in order to—basically, you're the product. You're the product. Absolutely. Product. Absolutely. Yeah. Yeah. So in, in a, in, in a DAO situation, it could be helpful to our audience to, to say, does that—I mean, there's a couple of elements that we have to talk about—but does the DAO essentially, essentially mitigate some of those abuses by these very large platforms?
Oh, in terms of data aggregates or, or very, very large—it's more down to think about it, it's more down to who owns the data, right? Right. So now an autonomous organization, the data is, well, held within the organization. Organization. Yes. And it's not, it's not being commoditized on behalf of the members.
Yeah. Yeah. Yes. Got it. Absolutely. I mean, I think a perfect example is—not, not to lead us astray here—um, one of our projects that our, our core team is essentially managing at this point is the Neco, the Neco project, and it is a wallet project, a hardware wallet and a software wallet, multi-chains and so on and so forth. But I think the key element to it is that it is completely DeFi developed, saved, but a centralized like management team to keep development going. Um, um, people are unaware, but like, you know, things like MetaMask, right, are sort of co-owned by, can you know, Consensus and JP Morgan, and in the fine print of MetaMask, um, they do sell your data, right? It is a Chrome plug-in at the end of the day. It isn't an iPhone or Android application that is gathering data and selling whatever it is they're selling. Selling. And for people that believe in DeFi and decentralization, that's not, that's, that's not really what you want to do. And so the whole idea of the Neco project, project, is that, is that it's completely decentralized, it's a permissionless tool, it does not sell data, right? It will not sell your data, um, you know, there's a bit of a community governance in, in the way that the beta testing and development gets going, so on and so forth. Um, so, so that's, that's—and it's, it's like a non-profit too, like the transaction fees essentially just go back into wherever they go, there's not any like salary-based anything from the Neco project, it's all dispersed into DeFi. Yeah. Yeah. Yeah, which, which I think is very important because when you look at—and I don't know how much you love DeFi or how much you like the tech, right? DeFi's tech or whatever, whatever it might be—but, but a lot of times these large institutions, right, they have very specific strategies to capitalize on the turbulence that's happening inside of DeFi. The velocity of money inside of DeFi during a bull run is insane. I mean, it's like the volume, the philosophy, and that we don't even have very much of the world in DeFi yet, you know, it's just, we're just stepping in.
I'll tell you, yeah. I mean, it's, it's crazy. And so these point eight percent transaction fees coming through uh, MetaMask, the different swaps and their transaction fees, so on and so forth, forth, uh, the mint fees
Uh, you know, for some of these basi, these basi type type NFT mints, these are strategies to to capitalize on the turbulence, the velocity. And when that money gets pulled out of DeFi, you'll see that there's less liquidity in the D5 market overall. The velocity of money slows down, and then the bearish market ensues, right? So keeping that money, the more money that's pulled out, the amplitude changes massively.
Yeah, yeah, yeah. So yeah, so yeah, so we're trying—I mean, there's a few things we're doing to to try, um, you know, to to keep, keep it uh, decentralized.
Exactly. But yeah, that was interesting. But this is, this—I mean, I'm going to jump to uh, um, the Inuyasha and the Yashidao first, and then I'm going to dive back into the design style because I think it's it's that way around because you talk about things like D5, which is decentralized finance, for the benefit of the people who who don't know. So it's just basically taking away the control, control of of the money, the money from large organizations—you mentioned companies in the large banks, etc., and insurance companies, etc.—and putting it, you know, and and having systems where the participants benefit from providing their capital to that decentralized, decentralized uh, uh, um, um network, network. And immutably are able to benefit from, benefit from that velocity that you mentioned—yeah, burns on that, in stake farming, etc.
Um, um, but, but just talk to me a little bit about the new gen, new gen launch pad, launch pad, the DJ launch pad that uh, you mentioned earlier. Just tell me a little bit about that, and tell me a little bit about the Yashidao, Yashidao.
Great, um, great, um, just uh, just uh, yeah. So Yashidao is our launchpad. It was decentrally, decentrally founded. There's 12, there's 12 random strangers, random strangers that I I found inside of Telegram, and we added, added everybody into a group and said, "Hey, let's let's let's start a project." So completely like nobody knew each other, but it, yeah, it is, it is a launchpad, accelerator, incubator, accelerator, incubator uh, hybrid where um, projects, founders, whatever they are, they are trying to raise money, they do want to launch a project, they might need help with development, whatever it might be, and and we do have the the resources available on a technical level, um, on a mentorship level, level, on a financing level to help projects, um, you know, realize that that launch.
Um, thus far, just historical numbers, numbers, the the the pre, pre-TGE contributions, TGE contributions, um, have yielded an excess of 160,000 percent, percent over the last year, which is not too bad—that's in excess of 1600x, 1600x. Um, um, there's been many people that, that's just on the small pre-sale contribution, that that is not on the uh, you know, whether they chose to contribute more post-TGE. Um, um, you know, some things, it's it's tough, you know, the market goes up, it goes down. Trading strategies sometimes aren't that great, great. We don't manage every single project that we launch, you know, a lot—that's the common misconception, I think, is that people think, people think sometimes that we're involved in everything, but we're, you know, we're we're not. But that, so what, so for example, the delivery projects you have like Guzzler, Cliff, and Apache—new, all talk a little about, about those because those are independent projects that are usually like utilizing the Yashidao or the new gen launch pad. Exactly how that fits in, so the benefit of everybody to understand.
Yeah, exactly. Like the Guzzler project—outstanding project, uh, project, uh, lead developer uh, for Rook, uh, I'm like essentially the interim CEO for for Guzzler as Ferc is is, you know, neck deep and developing. Um, but what he's been developing is a uh, is an NFT engine, engine for in-game, for in-game uh, you know, the ability to modify NFTs in-game, in-game. And so, and so modify the NFT or re-mint another NFT. Yeah, modify, modify the NFT in-game. So the the way that he's, yeah, the way that he's uh, showing it essentially is you have a car, it's a car racing game, um, he has other games that he's integrating Web3 into as well. Yeah, um, but the like the cars are NFTs, the wheels are an NFT, the body kits, the performance upgrades are all NFTs, and in-game when you layer these NFTs on top of your base car, it modifies the metadata. So if you win like a performance part upgrade and horsepower would be a property that would be shown on OpenSea as part of the metadata, that horsepower value can increase when you go connect to the game, uh, when you connect to Web3, the game recognizes that token ID that its horsepower value has has increased. Now your car goes faster in the game, right? So it's okay, what he's developing is a very, is a super interesting—I mean, it's maybe one of the more advanced uh, NFT or Web3 integration middleware APIs that that exists out there. And it doesn't have a ton of marketing, doesn't have a huge following. I think there's maybe like 5,000 holders or so, or so, and uh, and uh, you know, it's it's it's chugging along.
The Cliff project, another one, another one, the Cliff token, the smart contract, what what the team, the founding members, um, were able to bring to the table was a new innovation, new innovation in smart contracts. Uh, the the hype surrounding that new smart contract was such that it went uh, it did a 400x in four days. So it went from the starting market cap to a 200 million dollar market cap within four days. The the pre-TGE contribution from the Yashidao launchpad on that one was like 300, like 300—it turned into 300 something dollars—it turned into like and seventy thousand US dollars within four days. It was incredible, the velocity of that parabola. But what, what's the utility uh, of of of the Cliff, the Cliff?
Yeah, so basically, there's, you know, sometimes you develop a new smart contract, right, contract, right, and there's no gosh, there's no like real way to demonstrate that smart contract except to launch it and put it out there onto the blockchain. You deploy it onto the blockchain, as a result, maybe 10% of all new tokens use, use some of the Cliff code in them. So you know, there's many forks out there, so forks of the theorem, for forks of uh, of the Cliff token contract.
Oh, the Cliff token contract. Okay, got it. Yeah, yeah, yeah. Exactly. Yeah, so there's been like so many, maybe 10% of all the tokens utilize some of the Cliff token contract in in their smart contracts for their tokens. So completely changed uh, DeFi, there, which is pretty exciting. It, I think it does have a bit of a utility, uh, but utility is never—I'm just gonna say this, guys, utility is never the reason why some of these projects that are smart contract based, why they go parabolic. Yes, you know. So so anyway, yeah, I said it. I know that's cool. So tell me a little bit more about, so watching you, what is that, that?
Yeah, um, that's another one, you know, it had an amazing launch, um, um, the the Pochi NFT contracts are the first NFT, first NFT uh, contracts to to integrate growth and decay in in reproduction into the smart contract. Okay. And this is, this is the way that the team is demonstrating this, this is through a dog NFT that starts off as a puppy, gets older, and you have to feed, you have to feed the dog the actual token, right? Yeah, like it's dog food essentially. Now how this plays in, in to, to [Music] [Music], you know, like real-world use cases, right? These smart contracts, for instance, when you have Guzzler—I'm not sure what the real estate, the popular real estate website is where you are, but here in the United States, Zillow.com—I'm sure you've heard of it. Imagine if your house is your is your is your base NFT, like your car inside of the Guzzler game, and your floor coverings, the roof materials, the exterior color, the square footage, all this stuff would be considered metadata, considered metadata, right, right on the on the Zillow NFT website.
Absolutely. Just just for the benefit of our audience, uh, an NFT is a non-fungible token, compared to a normal token where there's thousands of them, like having 10-cent coins out there, each 10-cent coin can be exchanged for another 10-cent coin because it's still 10 cents, whereas a token which is non-fungible means it's unique, it's unique.
Exactly. It's a pro—an NFT at the end of the day is a proof of ownership smart contract. It's a contract that proves you own something, you know, proves something happened on the blockchain. It most—it's a record of something happening. A lot of people attach it to artwork, so on and so forth. That's not what it was made for, but that's cool, you know, it's helping the art world and everything. It is. But Joey could have his identity as an NFT.
Yeah, yeah, yeah. Exactly. My driver's license—this happened on this date, it's recorded on the ledger, here's the token ID that it happened, it's recorded, right? So imagine you have that house NFT on Zillow, Zillow, and you have a contractor come in to paint the house blue, right? Technically, how the Guzzler engine works is when you pay that contractor, that that would technically be like a blockchain event, a blockchain execution, right? There would be an NFT generated because of that event, and then on the real estate aggregate website, Zillow website, Zillow, the house would change blue, it would update the the the website that this happened on this time. The underlying value, value potentially would go up because there would be a record of any value that was exchanged to to to paint the house, right? Now the where the Pochi NFT contracts come in, come in is is obviously with real estate, with assets in the real world, you have appreciation and depreciation, right? And so that's where the Pochi smart contract, although demonstrated right as a dog NFT that gets older or or you know, grows up and and you know, eventually becomes older, um, it's one way to integrate all of these smart contracts together to track real-world assets through the ebb and flow, flow in the market—all right, appreciation, depreciation, blockchain events happening that alter the underlying value of whatever that that you know, house-based NFT, based NFT, whatever it might be, right? So the car, anything that is going to either decay in value or increase in value.
Exactly, which is, which which now leads us on to the Science DAO that you wanted specifically to talk about today. What is the Science DAO? What is the vision and mission?
Yeah, so yeah, so I know, sorry, there's so much going on sometimes that you gotta, you gotta keep me organized.
Well, we can do it, we can we can we can certainly do and shed you some more interviews, and then of course we can help manage your diary. [Laughter] [Laughter] Uh, uh, yeah, okay. So the Science DAO, guys, um, it's a decentralized think tank, uh, it's an accelerator and incubator hybrid for scientific startups, right? Yeah. Yeah. Um, I think the the main goal—there's multiple, okay, there's multiple goals—on the on the consumer side, on the retail investor side, side, the Science DAO is essentially a gateway to access deal flow that is normally not available to the public. And what the retail investor is able to do, right, is let's say you're holding Ethereum, you're holding cryptocurrency that is moving with the ebb and flow of the market, because non-fungible shares essentially are being created for these scientific startups, startups, you're able to peg your or attach your cryptocurrency value onto the growth trajectory of a scientific startup as opposed to having it ebb and flow with with the market, right, right. Um, um, you can use this, you know, retail would be able to essentially use this as like a as a hedge, um, maybe, maybe a moon shot, you know, you never know, never know where some scientific startup might go. One of the first projects in the pipeline is a project, an invention, patented invention by one of our advisors, Dr. Haume. His CAR T-cell treatment, T-reg treatment, T-reg treatment, uh, is is what he's been able to do is target specific, target specific uh, beta uh, beta uh, cells, the receptors in the pancreas to utilize, to utilize CAR T-cell treatment to cure type 1 diabetes. Um, he just had a recent article in endocrine.org, in endocrine.org, uh, they've been 100% successful on humanized mice and just recently within the last uh, couple weeks here, they've been 100% successful on human cells as well, as well. Um, um, yeah, so there's, you know, that's that's an idea of—I mean, let me just, yeah, sorry, step back, this is very interesting, interesting. You mentioned investment, you talked about, about—you and I know that, you know, in anywhere in the developed world, there's a there's a massive, massive issue to do with selling, selling shares, shares to to individual moms and pops, etc., etc., and no, there's a whole regulatory framework around that, around that. So how has the DAO been structured in such a way that enables, enables that regulatory approval, oversight, or whatever? How have you, how have you done that?
Yeah, so this is a bit of a secret sauce, so I'll glance over a few things. Um, have you solved the problem? And and I believe we have, I believe we have. Yeah. And part of it, what what it essentially entails is people just going that extra step. So through the Science DAO, you can actually self-declare, self-declare yourself as an accredited investor on the blockchain and have that self-declaration as an accredited investor, investor be recorded on the blockchain and receive an NFT of that event, right, recorded on blockchain. Obviously, these things go yearly, right, right. Um, um, the the investments, and not everything is an investment, right, that's running through the Science DAO, some are just participatory, right? They're not uh, you know, they're they're not necessarily uh, uh, startups, they could just be community-oriented type projects, right, that are crowdfunded, crowdfunded. But obviously any investment that would be running through would only be offered to people that have self-declared their accreditation status. And then some of those are are exempt um, as securities or, you know, so on and so forth. It really depends on the path forward, and each project, project is is individual. The Science DAO itself is not, it's access to a community, right, right. It's access to a community that would be like the sole use case—deal flow aggregate and and monitoring, managing some of that that deal flow. And so where's the exit strategy for somebody participating in the Science, Science DAO in terms of value creation for themselves?
Yeah, uh, potentially. Okay, so imagine that there is a scientific startup and the the non-fungible shares are split into a number of NFTs to represent a percentage of some option pool or or preferred, you know, stock, know stock, whatever it might be. The cool thing is about NFTs, and this is like completely not company-facing, and this is where it solves a huge problem for institutional investors as well. As many times when you get into a seed stage, very early stage, you're married to that company for a number of years—five to ten years—right, where you have no liquidity event in sight, sight. The way that the Science DAO works is we, through, through expert analysis, okay, our advisory committee, whatever it is, um, the the on-paper valuation of that company uh, would be represented, you know, in in a fraction by whatever uh, you know, however many NFTs are essentially created to to represent that option pool. Um, um, yeah, yeah, yeah. From there, so basically you're not buying shares, you're buying the right, the basically the the the ownership of the NFT gives you the right to participate in the option pool. Actually, it it can, yeah, it can be tradable, um, or or there's a specific mechanism in the smart contract that it can be burnt, burnt to realize some form of value.
Yeah, exactly. It can also be traded along the way. So let's say that you get into a very early seed stage for for type 1 diabetes cure and they move through their their IND application with the FDA, they raise an additional round of funding, so now they have a new post-money valuation. Those original NFTs that represented the company's valuation at some point in time can follow that new valuation and that trajectory of the growth of that startup because we we're building a closed marketplace, marketplace, um, you know, that closed marketplace for any particular uh, company might be only available to those, so you know, self-declared accredited investors. Those NFTs would be tradable. So if you're like an early-stage person and you want to exit and sell off your represented ownership of some said option pool, you could you could sell them in the the marketplace, um, to uh, to a new investor. The cap table does not change, um, you know, on the company side, so they're not dealing with thousands of people, you know, having to report—they report to like an intermediary uh, agent, which is the Science DAO, and and yeah, we handle it like that. But I know we talk about decentralized autonomous organizations, autonomous organizations, but but some, some people will ask, when you you're dealing with other people's money, who do they talk to at the end of the day?
Yeah, so I think what we're trying to do—where's the corporate, where you you must exist somewhere. So yeah, yeah. Well, actually, so the the Science DAO, yes, we do, um, however, the DAO and is just is just a platform, right? Like the actual Science DAO is just a platform and a group of individuals acting inside of a think tank to analyze deal flow. What what the users do with a particular protocol or how they interact with a company that's going to be uh, you know, assigning rights, whether it's the rights to information, to information, uh, whatever it might be, assigning rights to those to those NFTs that represent the option pool. Exactly. But we're talking about, you know, these are real—you've got customers, customers who are scientists, and you sign a contract, which is effectively a digital contract, but they're the counterparty is the DAO, but the DAO must have some legal entity.
Oh yeah, yeah, yeah. Um, I mean, obviously, yeah, we're uh, we're incorporated, uh, my my CEO, D Register, handles most everything, uh, yeah, yeah, US-based, so US-based, so uh, yeah, uh, yeah, yeah. There's a servicing company in the United States, I think the core entities came in, um, physical, yeah, you know, you can knock on the door and say, okay, oh yeah, oh yeah. Absolutely. I would think of a—if you look at like SeedInvest.com or Fundrise, um, I would think of it more, you know, like a crowdfunding platform, um, platform, um, you know, that that is like a deal flow aggregate for for anybody out there. The main goal of it, and we're not quite complete at realizing this in regards to platform and functionality, but I would say the main goal, um, would be creating that that crowdfunding platform, um, platform, um, you know. So one of the interesting things about crowdfunding per se, whether it's traditional or traditional or decentralized or some form of tokenized, is is what tends to happen when you've got a community, um, and it's very crypto-driven, you get large whales, but they, what are they called, large investors coming in and taking a large slight slice of that, and that tends to be, and when when they get, get they see another opportunity, they may sell and go on somewhere else or they want to exit and take their profits, which has a major impact on the valuation because of course price volatility is is driven by, you know, you know, buying and selling. Um, how have you solved that?
Science DAO—there's there's no way to really solve, um, um, like token price, you know, you can only control, but what about holding size? So I read that—oh, we generally have pretty fair distribution in many of our launches. I think one of the things that we're we're pretty known for is is the the distribution of holdings, um, right now. I think the market cap currently of the Science DAO, I think is about like 12 million dollars or something, something. Um, a very large—you should, you—what you issued a hundred billion tokens, and basically you're limiting each investor to the maximum of one billion? Is that correct?
Essentially, yeah, one, one percent. I mean, obviously they can generate another wallet and buy, buy more if they want. Our our uh, pre-TGE contributors through the Yashidao pad are vested over, you know, several months. Generally, we don't do a lot of vesting for this project—we we are doing a fair amount of vesting, and so it actually has—if you look at the holders list, it has pretty fair, pretty fair distribution. And obviously, I think the bigger whales—what's what's cool, I think, is that generally the the bigger whales, the bigger investors, wait to see, you know, some deliverables, right? Where some of the more speculative uh, you know, participants get in early, and so and so when that happens, you know, obviously the the market cap might be such that it's much…
More expensive to gobble up a significant portion of the supply to alter some type of voting strategy inside of a DAO. So that I think that you can do it. I think if you go right with deliverables first and you raise a lot of, uh, VC money, you know, pre-TGE, then obviously you're putting a huge portion of the supply right into the hands of people that can direct the entire operation through voting, and I think that is an issue.
Yeah, so how does the DAO manage liquidity? I mean, the new generation launchpad, do you, do you, do you get involved in managing some of that liquidity or have specialists to help managing that liquidity in the DAO?
Yeah, so we raise, you know, the DAO decentrally raises, um, you know, money generally for liquidity. Um, um, we put most all contracts inside of a multi-signature wallet, um, you know, that generally has a DAO member, uh, uh, and generally has a DAO member that's involved, and then we lock the liquidity inside of the smart contract. So we don't use like a third-party liquidity locker because they're subject, you know, there's there's so there's so you never know. If it's inside of our own smart contract, at least we can be like, okay, this is inside of our smart contract, and to access it, to unlock it, it needs multiple signatures to do so. Right, to perform any contract interactions, it needs multiple signatures to do so. And if they're they're they're, you know, projects and teams that are outside of our own network, um, you know, the DAO can always vote to say like, hey, we need this many DAO members on this multi-signature wallet so that they cannot perform certain tasks without the DAO knowing about it. Right? So we do keep it very safe. We have a very good track record of safe, safe projects.
Um, we do manage liquidity on times where if the liquidity is maybe too thick, we might thin it; we might thin the liquidity out a little bit to get a little bit more volatile in price action. If it's too thick, I mean, you have not a very, I mean, it's not going, going anywhere. You know, it takes a massive amount of money. If you understand the mechanics of, um, if you understand the mechanics of how the pairs, uh, work, um, um, you know, if you have too thick of a liquidity ratio, it's very hard to get parabolic price action, but it also absorbs, absorbs larger sells. You know, there's less price impact on larger sales as well, so it's it's, uh, it's a fair amount. One way that we manage liquidity, and this is pretty cool, is we have a new smart contract that one of our developers, Boudoish and Tris, developed where you're actually able to swap the liquidity pair. So if ETH is on its way down, you can stabilize your liquidity pair. If it was paired with ETH to USDC, you can swap to USDC, and then if ETH starts to run again and starts to go up in price, you can swap back to an ETH pair to try to capitalize on some of that ETH price action as well, for that pair. So pair. So that's right. That's right. Yeah, that's another new one. That's a good one. I like that.
Yeah, no, that's very, very interesting. Um, so, um, so in terms of the the platform, are you focusing your attention on the new gen launchpad, launchpad, and um, the type of projects that are coming on to the project? Obviously, the the governance and the selection of the projects is basically community-driven. Yeah, what, yeah, what give, give our viewers some idea of the time frame it takes to come to that consensus decision?
Goodness, sometimes we have voted within 24 hours and had a reached a quorum of 6.9 billion tokens worth of voting, um, voting, um, within, within 24 hours. Uh, you know, we've funded, we've raised over a million dollars, um, for, for, uh, launches and startups within 48 hours. Right? Um, so it really, we can move pretty quickly. The funding capability, I mean, the market is pretty poor right now; we haven't stress-tested the funding capability, you know, when maybe everybody is down 80 or something, but the funding capability during a bullish time is pretty, is pretty astounding. So I think that organizations, startups, new companies, companies, whatever the side, can actually try this path and and see how much they can potentially raise, um, you know, from the platform. So platform. So, so just talking a little bit about, um, you know, people coming to the platform, people coming to the platform naturally, the the the the site, the the your your, um, launchpad, yeah, is obviously looking for people to submit a project to the to the absolute deal flow. Like it will not survive without deal flow.
Right. Right. Yeah, but part of the incubation process, and this is what I mean by like our DAO is pretty human, uh, uh, set, you know, human-oriented, is that the marketing, the community support, so on and so forth, for any of these, uh, startups or projects that want to launch, they can seek. I mean, many times it's like an instant, you know, 300 to 1,000 holders, 000 holders in their project that are positive for the project and are looking for like they chose to participate because they liked what they saw. So you have an already built-in-place community that kind of knows, knows what they're doing and whatnot. So, so I mean, for anybody who's interested to have an interesting project, they go to your website, which I think is Yeshua, Yeshua Yashda.io. Yes, Y-A-S-H-A-D-A-O. Yes, Y-A-S-H-A-D-A-O.io.io.
Thank you. They can contact, contact, put their details in and move from there, or they can join your Telegram group.
Exactly. Yes, exactly. Yes. Yep. Yep. Yeah. Right on the website, there's a link to the Telegram. Any one of the admins you can reach out to, um, and submit a proposal, proposal, you know, and, uh, and see where, see where it goes. That goes for the science DAO as well, as well. Um, you know, if it's a blockchain more oriented community project, Yoshidao is probably a good fit. Um, if you're, uh, working on some type of AI or type one diabetes cure or you're trying to bridge, bridge traditional finance and and DeFi and DeFi and sort of crowdfund, then, uh, yeah, you're more than welcome to go pitch the science DAO as well. There's some really interesting long-standing, uh, VCs, VCs, veterans, veterans, and a lot of industries inside the science DAO, so you never know, uh, who, who you're pitching to.
Right. Well, thank you. Thank you. Just before we go, we've, you know, I think we're top of the hour. Um, yeah, Joey, tell me a little bit where you see this, see this going. Obviously, the markets have been very turbulent. You're building a solid platform, launchpad with some very interesting deal flow, deal flow [Music] [Music]. Where do you see Joey in five years' time, 10 years' time in terms of the evolution of what you're doing?
Oh, well, well, I hope that we do everything right and I'm not in trouble, you know, you know. So first and foremost, you know, I, I'm not exactly sure. Uh, you know, what we've noticed about Yasha specifically is that, you know, many projects during a bear market, bear market, you know, you know, essentially cease to exist. Our community is so strong with our launchpad, launchpad. We just recently launched three projects; one did a 60x within a week, um, another one did a 15x within a few days, and another one just did a 100x. I don't think anything is.
Yeah, I mean, you know, yes, obviously you're looking from a return perspective, but return perspective, but the impact of what you're doing in terms of, of providing capital to people that are changing the world through your platform.
Yes. Yes. Thank you. Sorry, I'm so immature. I, I hope, I hope the, the one that I'm very passionate about is Dr. Haumei's type one diabetes, uh, cure, uh, cure. Yeah, yeah. He's able to target, you know, with his CAR T-cell treatment, what he's been able to do, he's able to target, uh, beta cell, that the different receptors in multiple organs. Right? So there's like, like he can target, you know, the the thyroid, for instance, he can target the pancreas. Um, CAR T-cell is an FDA-approved, uh, you know, treatment for cancer. The issue with, with cancer cells is because they're abnormal, it's like trying to target, target a, it's trying to hit a moving target with the abnormal cells. Right? Whereas with, with type 1 diabetes, it's it's sort of like you give these CAR T-cells, these T-reg cells, uh, GPS to go target the the the receptors in the patients.
Yes. Yes. I think with the science DAO, with the science DAO, if we're able to crowdfund, decentrally fund a cure to disrupt a trillion-dollar industry, you know, the diabetes treatment industry equates to, you know, it, it values about two percent of global GDP, and much of that revenue is based on the treatment of, treatment of a lot of these diseases. Nobody actually wants to cure, right? Because there's not as much revenue, um, you know, as the ongoing treatment, and having like the lifetime value of a customer for, for disease treatment is insane, and that is not what humanity needs in my opinion.
Yeah, I understand. I agree with you, Joey, Joey. Yeah, thank you very much indeed. Thank you. The time, it's been really, really interesting. We've touched on many subjects, subjects, and you know, um, honestly, what you're doing is interesting, interesting. It's inspiring, it's inspiring to a lot of us, particularly on the science side, science side, and I honestly wish you well and look forward to further conversations with you.
Thank you very much indeed. Thank you so much, guys. [Music]