CRYO-21.1: Funding of CRYORAT

Submitted by: CryoCore Team Members: Kai, Eli, Austin, Emil

Problem

This proposal addresses the need to establish governance for the long-awaited project Cryorat, previously announced as Lazarus.

Solution

This proposal overrides CRYO-21. Dedicated to funding breakthroughs in the field of cryopreservation, the CryoDAO team proposes the funding and tokenization of the project Cryorat.

Cryorat will attempt to establish the first-ever high-subzero cryopreservation and revival of a rat.

Please consult the detailed technical description of the project here (subject to improvements), complete with milestones and budget.

While a primitive model of small mammal cryopreservation (hamsters) was attempted in 1956, it is remarkable and disturbing how long this research model has been abandoned. The technological challenges associated with extending and advancing this model with modern approaches (surgery, small animal CPB, blood substitutes, and imaging) make it a daunting project for researchers.

Cryorat therefore establishes a fundamental springboard in encouraging and enabling the field to apply these models to progressively larger animals, and ultimately scaling to human-size organisms. The key message for the community here is that we are not attempting a stunt to satisfy the current hunger for the next shining thing in DeSci, but rather employing a hard-science approach with a uniquely qualified lead scientist to advance and accelerate the field significantly.

It is important to emphasize this is not a “basic science” project. The innovations in perfusion, surgery, imaging, and the cryopreservation process, are likely going to be applicable to clinical and research fields such as:

• trauma (e.g. whole body cryopreservation to extend the time of successful medical evacuation)
• cryopreservation and high throughput testing of brain tissue for cancer research
• extending time available for personalized gene and cell therapy manufacturing
• cryosleep for space travel

Each one of the bullet points above is potentially >1bn market per year.

IMPORTANT: the issuance of governance tokens for Cryorat will be conducted in compliance with European Union’s MiCA Title II: Crypto-assets other than Asset-Referenced Tokens or E-money Tokens.

Budget

CryoDAO will tokenize the Cryorat project with the goal of raising $500,000 for research advancement. In exchange, the community will be granted voting power to govern the decisions related to intellectual property, participate in R&D decision-making, and capital allocation.

The project is funded in phases. Once Phase 1 has been completed, the progress shall be reviewed and a vote to continue financing offered to tokenholders.

Stretch goals:

A. If the campaign is overfunded by up to $200,000, the funds shall be used to expand research goals and acquisition of imaging equipment and consumables (e.g. enabling more rat experiments) B. If the campaign surpasses the stretch goal above, any additional funds will be used to further CryoDAO goals as per active governance

The project will be launched as tokenization campaign on Juicebox.money, offering governance tokens to contributors. Token holders will be asked to approve the launch of a liquidity pool once the campaign has closed.

The campaign will trigger closing with a 24-hour timeline once the goal of $500,000 has been reached. At this point, the issuance of $CRYORAT will decrease by 20% for the final 24 hours. This encourages early participation.

If two weeks pass from the start date of the token sale and the $500,000 goal has not been met, CryoDAO will close the sale and fill the rest of the round.

CryoDAO will use up to 20,000 USDC for legal and compliance costs in preparing the tokenization campaign. This will be reimbursed upon a positive vote from Cryorat tokenholders post-closing of the campaign.

Tokenomics

The CRYORAT token will have a total issuance rate of 100,000 $CRYORAT with a 70% reserve rate for every ETH. This means for every 1 ETH contributed, the contributor gets 30,000 $CRYORAT tokens and 70,000 are reserved for the treasury.

After the $500k goal has been reached and the 24-hour countdown begins, this total issuance rate decreases 20% to 80,000, or a 24,000 / 56,000 split.

Thus, the total supply is dictated by how many contributions come in. Token holders can vote to mint new $CRYORAT at a later point in time if desired.

This introduces the following distribution:

Timeline

Please consult the technical project proposal for a detailed timeline, including project phases and milestones. We propose the CRYORAT token sale goes live on December 2nd, 2024.