The VITA price update as of now is $1.08. In the previous 24 hours, its trading volume was $22,639,053,441, and its value has increased by 4.68%. As of now, VITA's live market cap is $27,995,658, and it is ranked as the #2929 on the Coincu. VITA has a circulating supply of 27,219,552 and a maximum supply of 27,219,552.

VitaDAO: A Revolutionary Group Dedicated to Longevity Research

VitaDAO is an innovative group focused on revolutionizing the longevity research industry through the promotion of open and community-based research. By harnessing the Ethereum blockchain, VitaDAO utilizes various tools to leverage intellectual property and provide direct rewards to the community using assets owned by the DAO.

VitaDAO challenges the existing norms in the longevity industry by granting governance rights to token holders who actively participate. Alongside its partners, the DAO funds research projects related to longevity and therapeutics, contributing to an industry expected to exceed $62 billion in value by 2021.

In June 2021, VitaDAO successfully conducted the Gnosis Auction, using its native token called VITA. This auction raised funds from different sources, including the public, core team, and research organizations, to establish the protocol treasury. Participants in the auction received VITA tokens, which grant them voting and governing privileges within the DAO.

Following the fundraising event, VitaDAO has been actively integrating team members, existing intellectual property, and research data into its thriving ecosystem.

Collaboration: Embracing Decentralization in VitaDAO

VitaDAO distinguishes itself from traditional biotech organizations and institutions by operating in a decentralized manner. With no CEO, board, or hierarchical structure, VitaDAO encourages collaboration through community-driven proposals and voting. Token holders of VITA, the native token of VitaDAO, have the ability to vote on proposals, while anyone can submit and engage in discussions about proposals for consideration.

The voting power of individuals is determined by the number of VITA tokens they possess. Proposals serve as the basis for decision-making and can involve consolidated decision-making processes. For example, an initial proposal to the community may involve assigning specific projects, such as biotech research and software development, to internal and external partners. VitaDAO can grant autonomy within the scope of the proposal to these partners while maintaining oversight. This approach avoids overwhelming votes with minor details and ensures that community voting remains significant. Additionally, the community always maintains control as it can overturn a proposal through a new proposal.

Within VitaDAO, there are three distinct groups of contributors:

Vita Token Holders: Individuals who hold at least one VITA token and have an interest in supporting VitaDAO's activities can actively participate in governing the DAO through voting on proposals.

Contributors in Working Groups: Those who wish to be more involved and can dedicate regular time can express their interest in joining a working group. These groups, led by a designated lead, cover various areas including longevity research and intellectual property, legal matters, governance, tokenomics, software development, operations, and communications.

Service Providers: VitaDAO collaborates with service providers who are assigned specific projects or ongoing roles such as lab work or software development. These providers bring their expertise and closely collaborate with the working groups. As legal entities, they contribute valuable resources to the DAO, including their team's skills, networks, reputation, and legal status.

Initial service providers for VitaDAO include Molecule GmbH, Decentralized Matter, Linum Labs AG, Keyko AG, Curve Labs, Arctoris Ltd, and Scheibye-Knudsen Lab.