Developers Forum for XinFin XDC Network

Discussion on: [Proposal] First DeSci Project on XDC Network: MVP and Pilot Successfully Completed

ronald_mitchell_0de6c6219 profile image
Ronald Mitchell

I really love what you have here. I'm not a fan of BIG Pharma. This could become the NEXT BIG IDEA where researchers are investing in themselves and making life changing profits over a typical salary offered by big pharma.

I would like to learn more details of self sustainability. Is there any other Funding Rounds planned or happened already? 1m XDC doesn't seem like enough to sustain the project development and research for very long.

What are the estimated fixed overhead costs challenging the project as a whole to progress forward the next 2-3 years?

It also seems like India is the primary location and expenses may be less than what many of us are custom to in the WEST.

Thank you guys for all your hard work and determination. This DeSci idea is 🔥

hemal_csbond profile image
Hemal_csbond Author

Yes, totally agreed with your first point. One of the main goals is to ensure researchers have more power and control to not rely on salaries or government grants (which are hard to get and delayed).

We are working towards raising a pre-seed round. No funding has been raised so far as we planned to do it after our MVP and pilot were completed. The 1 million XDC is to get started with development and start building the community for the first DAO of the ecosystem. There are revenue streams in place for both short term and long-term to ensure sustainability.

The initial costs of development, and legal are one-time with only some maintenance cost going forward. The major costs going forward would be marketing and human resource. The estimated cost for next 18 months is about $750k which includes everything from a complete product development to onboarding researchers on Vscience team, to on-ground marketing with meet-ups and events.

The ecosystem and product will not be limited to India and will be for the world. However, testing waters in India allows us to do it at lesser cost when compared to the west. Just like the cost incurred for a satellite launch by ISRO are less when compared to that of NASA or ESA, the same goes for science research. So, building from India (not necessarily registered in India) allows us to do a lot with comparatively less funds. E.g.: A particular research that would cost about $400K in the West can be done in $100-150K in India. Eventually, we plan to expand to other Global South countries and then EU and the US.

Thank you for sharing your feedback and questions. If you need any additional information, feel free to ask.