Decentralized science (DeSci) protocols are currently at the same developmental stage as decentralized finance (DeFi) was in 2019, according to Andrew Kang, founder of Mechanism Capital.

The DeSci space right now feels like the early 2019 DeFi days. Everything is still raw, experimental, but there's an underlying understanding from this involved that there is massive potential.

It's likely that the current projects won't have the same model/product as they will…
— Andrew Kang (@Rewkang) November 24, 2024

“It’s still raw and experimental, but there’s a clear understanding that [DeSci] has enormous potential,” Kang remarked.

The Evolution of DeSci Protocols

Kang believes that future DeSci protocols will look vastly different from today’s models, emphasizing that iterative development is key:

“This was the case with Maker, Synthetix, and Aave, which were clunky and small in 2019 but evolved into leading protocols.”

Back in 2019, the DeFi sector was in its infancy. By 2020, the number of users, projects, and the total value locked (TVL) in DeFi smart contracts skyrocketed, marking exponential growth.

Promising Projects in DeSci

Kang highlighted several promising projects in the DeSci space:

BIO Protocol — a platform for managing and funding scientific research via DAOs and tokenization.
Pump Science — a marketplace for tokens tied to experimental life-extension drugs.
GLP1 — an initiative raising funds to research GLP-1, a hormone crucial for hunger and digestion regulation.

DeSci protocols use blockchain tools to facilitate scientific collaboration and public participation in research. This approach includes both experts and laypeople, allowing broader community involvement.

The Current DeSci Market

According to CoinGecko, the current market capitalization of the DeSci industry is approximately $1.2 billion. Major players include OriginTrail, VitaDAO, and Rifampicin.