 Hey everyone and welcome to today's Protocol Labs Research Seminar. Today we are joined by Savard Kedemelitis and Kash Narose who are both from Crowdfunded Cures. Savard conducted his master's thesis on alternatives to the patent system to incentivize the development of medicines and founded the charity Crowdfunded Cures in 2013. This was to help implement and scale these ideas as a social enterprise and a DCI project. Kash is an engineer with Crowdfunded Cures who works with Savard and will run through their systems diagrams for the smart contract of the medical prize funds and impact market for public medicines. Crowdfunded Cures mission is to use financially innovative pay for success contracts or social impact bonds, medical impact NFTs, IP NFTs and hyper-sets to create impact market for clinical trial data, validating the safety and efficiency of un-monopolizable public goods medical therapies. Over to you Savard. Thanks so much, yeah a lot of thunk twisters in there so you did great. So as Liam was saying so I'm we're going to be talking about impact markets for public good medicines. Also yeah we've been working with Protocol Labs on their hyper-sets framework so really excited with Kash hopefully well he's in a call but he'll he'll can hopefully demo some of the stuff we've built around this basically proposed impact market fund what we call un-monopolizable therapies and I'm going to go through a lot of these things and talk about the IP side of things and also a little bit about how drugs are made and and the kind of commercial issues and market failures around drug development. So yeah the first thing is there's these diagrams people might be familiar with the one on the right it's called e-rooms law and also on the left basically health expenditure is just going through the roof it's increasing exponentially kind of you know with aging baby room population also at the same time drugs are becoming more and more expensive farm and productivity essentially is going down becoming more and more expensive over the over time and part of our thesis and what we think is a lot of this actually is to do with market failures we're basically the problem with drugs is that you in order to make money from drugs in order for pharmaceutical companies to make money from drugs they need a patent in place because what happens is as soon as a patent runs out over a drug that means anyone can make it and typically you know these these drugs are basically like industrial chemicals they're not expensive to make at least when things are working properly and the drug basically goes off this thing called a patent cliff so initially a drug is quite expensive it might be say $50 a pill and then the patent runs out usually around 10 years after it's been on the market and it basically just crashes in price and goes to almost like marginal price so this thing is because it's so drastic and because the financial outcomes are so drastic it's called a patent cliff essentially the your profitability as an innovator as a person that that basically spent the billion dollars or whatever to make this new drug was paid for all the clinical trials all of a sudden there is no more private incentives to do this sort of research so patents are this massive problem an incentive finance incentive basically the pharmaceutical industry relies on patents too in order to make their money back this has a number of problems the main one is that we've got incentives in patent law that patents are placed before patients you have the most patentable drugs being developed but not necessarily the safest drugs so you know a good example say for instance is the opiod crisis that there was a patent to say that the drugs these opiates could be taken at 12 hours apart and and actually the science didn't back it up but or at least but the marketing they wanted the marketing to basically say that we could take these drugs 12 hours apart and it created this massive basically cycle of addiction because the drugs would sort of stop working after about eight hours and then you'd end up taking more and then you'd end up sort of getting into the cycle of addiction so that's what this particular article in nature talked about is that patents essentially the most patentable drugs are being developed but not necessarily the the drugs that are best for patients and there's this also this invisible tragedy of the commons so you've got essentially drugs that could be very safe could be very effective are being screened out of development because at a very early stage because a patent cannot be enforced so essentially it's this invisible problem caused by financial incentives being focused so much on patents where a patent is essentially the most important ingredient of a drug and it doesn't really matter if your if your drug is you know could treat some disease or cure some disease if you can't enforce a monopoly price then it doesn't get funded so there are these missing incentives basically where pharmaceutical companies are not going to pay for a large phase two phase three clinical trials these typically cost tens of millions of dollars if they can't enforce a monopoly price to make their money back and you know I don't blame pharmaceutical companies for it for not funding them and also as we'll talk about later governments don't and charities don't want to pay sort of tens of millions of dollars either because drug development is extremely high risk extremely expensive and they don't want to take on that risk they would rather have a private company taking on that risk but without a patent incentive nobody funds these clinical trials so there's these missing incentives and and and basically yeah these large phase two phase three clinical trials are extremely important they're because that's what doctors use to make decisions as to whether they're going to prescribe this drug to patients they can prescribe things off label but they don't want to do it and you know they're taking on a lot of risk so you need data and also governments and health insurers are not going to reimburse the cost of those drugs unless there's large randomized controlled trials so there's this kind of market failure and that's what we said is that basically is to do with new drugs extremely expensive to reduce you know you may be paying sort of three billion dollars and it could take up to 15 years however a repurposed drug you know might only cost 30 million dollars so this is an existing drug where you find a you get an existing drug and you can actually find new uses for existing drugs and those things might actually be very effective to treat another disease however if it's not if they're not paid and that there's no private financial incentives but we could potentially get these things to market like a lot sooner you know sometimes maybe one year or three years you know one year is probably that fast but the FDA particularly for things for our medical needs is keen to push things through and there's just so many drugs out there that could be repurposed but there's no private incentives. One of the core issues is around the idea that 90% of the drugs out there are actually off patent and as I was saying if the drug is off patent then there's no private financial incentives to find new uses of those drugs and then because basically you can't enforce a monopoly price you can't you can't stop people from taking the old drug for the for your patented use so if you found out that aspirin was extremely effective to treat cancer you can't sue the entire planet that takes aspirin you can't stop them from accessing aspirin or whatever they can just buy it from their pharmacy a lot of drugs you can just order them off amazon order them off online or you can ask your doctor to prescribe them to you and they will and you can't go around suing doctors so essentially finding new uses for off patent drugs is just data it's information and information is essentially a something that everyone can take advantage of as a non rivalrous and non excludable public good so we're talking essentially about a public goods problem and and we all you know in crypto world we're interested in in solving these public goods problems and so there's also really the interesting thing with this is there's a massive commercial opportunity here because there's literally trillions of dollars from of health savings available from using really low cost generic drugs because these things are so cheap it doesn't cost a lot of money to treat patients with off patent drugs they're very cheap but the the the expensive part is doing the clinical trials so as i was saying is a massive opportunity here i'm sorry and so it's 10 000 generic drugs or say maybe seven and a half thousand but a lot of generic drugs are three thousands and thousands of them but with no private financial incentives to do the sort of research you know there's a lot more than patented drugs you know patent drugs a small minority of the that's a whole number of drugs out there and there's even more um nutraceuticals basically so these things are like supplements and even things like plant medicines and what they call medicinal mushrooms things like that um so there's there's just a lot of these uh chemicals out there but they're extremely uh cheap to obtain sometimes you can grow them um so again no um no means of capturing these uh this market opportunity you know we're just going to talk about a few of these off patent drugs because there's some real science behind them they're not like we're not talking about uh something that's uh you know science fiction or anything so oxyphenabutazone to treat drug resistance tuberculosis basically an NSAID it's a say um like a pain uh it was an old pain relief from the fifties that that could be used uh low dose naltric zone to treat chronic pain uh from a promen to treat brain tumors these things are off patent drugs and then they're making statements and they're saying that you know according to research as pharmaceutical firms will not fund this research since the drug is already off patent so there's just this lack of incentive to fund you know things for very serious things like brain cancer. Simba statin for multiple sclerosis again simba statin is another statin that could be used um soft patent could be very effective multiple sclerosis which otherwise costs um governments and health insurance billions and billions of dollars uh we can talk about uh tech fedora which is actually was an industrial chemical but it's been charged out I think it makes over a billion dollars a year um because a pharma pharma companies managed to take the uh generic version off the market and then so they could only be the ones that supply tech fedora um but there are other drugs potentially that could be um used to treat ms tetrothymalib date is this really cheap um drug that that's called a copitulation agent and apparently it can reduce uh recurrence of breast cancer um by 20 percent or along those lines so maybe 10 20 percent um and you know that could lead to 15 000 um fewer uh cancer diagnosis and and uh significant cost savings sort of in the in the hundreds or hundreds of millions uh bcg vaccine to treat uh type one diabetes um that's also so basically bcg vaccine was one of the first vaccines made it's there's also evidence that people that have had this vaccine have got lower incidence of respiratory illness generally so uh we're working while we've been talking with open source pharma foundation about potentially using bcg vaccine as something like a universal vaccine or they call like an open Vax and that can reduce incident of of respiratory illnesses like COVID up to 80 percent so again billion dollar multiple billion dollar opportunity but no financial incentives to pay for those clinical trials because bcg vaccine costs sense in the dollar and we've got a decor acetate um that got a little bit of press um uh for treating uh neuroblastoma and people are ordering it offline and things off amazon but again no private incentives to do clinical trials and public money usually is very hard to obtain very hard to get grants and extremely hard to to convince um someone uh public or like a like a government or uh charity to pay for a large clinical trial um vitamin c also um pretty um important um for yeah can treat a bunch of different cancers um there's some real science behind this it's actually from my hometown of christchurch uh a lady um i greet this is one of the world's sort of leading experts on use of high dose IV vitamin c it has in the past been seen as a little bit of quite medicine but actually there's a lot of real science behind that and again um sort of the statements there that you can see vitamin c is not payable no financial incentive for pharmaceutical companies support vitamin c clinical trials those have been done as relied on public grants and private donations which is not really scalable uh for voxamine to treat covid so you probably all heard about um ivermectin and um hydroxychloroquine things like that this one has actually been shown to be quite effective and like a phase three clinical trial in brazil unfortunately did not get fda approval because that clinical trial that it was just the fda didn't accept it and um you know it was publicly funded essentially that's the other thing is the clinical trials in brazil are quite cheap but i think the fda essentially is not um keen on on accepting things based on clinical trial data that's outside the united states and which is quite expensive um so this is primarily a financial issue of market failure uh so one of the other areas is around psychedelics plant-based medicine so something like cannabis um it could be used to treat chronic pain reduce um reliance on opiates so we spoke about opiates before that's a massive problem in the states it's going to kind of cost cost over a trillion dollars a year so it's massive um financial um financial opportunity or at least cost savings available um but no way no market no way for people to basically pay for those cost savings or capture those cost savings turn that into a a scalable market um psilocybin same sort of thing um you know you can grow it um very cheap um and it has very rapid sustained antidepressant effects it's been shown um it's been researched so but there is no again no private incentives to do clinical trials for psilocybin because essentially you can't enforce the monopoly price uh there was a company there is a company called compass pathways that's doing a tweaked version of psilocybin which they call polymorph a however if the off-payment version of psilocybin is basically the same efficacy as polymorph a they're going to have a real trouble enforcing a monopoly price for that or at least um they're going to be particularly when psilocybin becomes um it becomes legal and i think it's likely to become legal um next few years they'll they'll find that uh it's going to be very difficult for them again to to sort of stop people taking it off label or going to clinics where they'll prescribe it off label ketamine is another really uh an interesting one that sort of shows the the perversant senus under the current system so um it's very cheap it's very effective to treat um treatment resistant depression works very fast like it's one of the latest drugs out there it's one of the the latest drugs that have been shot shown a new um mechanism of action and uh to treat depression uh by by attaching to to to glutamate i believe um but very cheap so about what happened johnson and johnson created a tweaked version which they call s ketamine it's the left-handed side version of molecule and they're charging $12,000 of course for that um the off-payment ketamine is is much much cheaper you know $10 let's say of course and also ironically as i was saying before the that the off-payment version is shown to be safer best in class potentially like uh then s ketamine so it's another example of patent incentives basically actively uh leading to uh inferior potentially inferior drugs being um been prescribed to patients is also longevity if you're really into longevity most basically all of the the longevity research and all the longevity drugs out there that has the most evidence are off-payment drugs so things like um rapamycin uh nad uh nmn um formin vitamin d nm um these things are all off-payment drugs so um you know and we might be sort of 10 15 years away before we get a patented longevity drug and these off-payment longevity drugs might be very effective they might sort of increase lifespan by 20 percent or something and some sort of combination and and be very safe we know exactly how safe and effective they are because they've been used for kind of 20 20 years plus some of them may be even longer um and but there's no private incentives again to do the clinical trials because these things are essentially public good medicines you know we've got a solution so it's essentially a retroactive public goods funding you guys might have heard of this so the talic talks about it and and the people from optimism um and the idea essentially of impact markets is a retroactive public goods fund so the idea is that you find someone what you call a success payer or you call it a retroactive funder or a funder that agrees to purchase essentially successful clinical trial data um and then on the basis of that agreement now you have a market for investors to go in and fund uh uh impact investors to go in and fund clinical trials now this could be done off-chain as you can see it's quite simple like you just need a payer like and that could be ideally that should be like a government or a health insurer people that are basically paying like tens of billions if not hundreds of billions actually they pay around 500 billion dollars a year and monopoly price drugs they could potentially save you know billions and billions of dollars if you could come up with a very cheap off-payment drug that might even be better than the patented drug so that sort of creates that's that's a great incentive for for a payer so basically you know maybe pay you 100 million dollars for the data the information that that proves that this off-payment drug is very effective so that's what creates a market for for um for data and so there are these advantages also um you might say okay well why don't why don't we just get all the government why don't we just get the government to to do to pay for these like the NIH to do uh directly fund the clinical trials the problem with this is like any kind anyone that understands like where the government has evolved in these massive expensive projects they usually turn into these big white elephants where they just spend you know they might spend tens or hundreds of millions of dollars dollars on on research that doesn't work and um it's because a centralized government doesn't necessarily know how to pick the winners but with this uh pay for this model you're creating a market and then um there's a risk transfer from say from wherever the payers are onto the the um onto onto the market who is more willing to take risks uh and fail fast technology also pharma um and and the biotech industry have have the best people but the best technology um you know the best r&d and their incentivize to basically do that uh also free market as as we you know some might disagree but it's very as long as the incentives are right it's very efficient at allocating resources and failing quickly um and also low costs so repurposed generic drugs potentially could outcompete uh paid into drugs because essentially uh the the payers whoever is paying for them they might pay like 50 000 per quality like what they call a quality is quality adjusted life here that's how much usually that's how usually payers figure out how much they want to pay for drugs but using these impact markets you get much lower cost per quality maybe even a hundredth of the cost uh so we think this yeah the future of NFTs basically you could use them to fund public good medicines that you know we've we've got um bought at your club or you know three billion dollar market cap you've got people raising 50 million you know 150 million dollars to to buy a copy of the constitution what if they could put their money into uh funding public good medicines um pre-purchasing public good medicines where there's their de-risks they're only going to pay for successful clinical trials and that's what basically we think is is a way to create these impact markets we need and to create a market for retroactive funding we're proposing open source pharma ip nfts so these are basically things that once you've got the retroactive funding then you get investors to invest in the clinical trials and these things are essentially hyper certs um then they allow fractionalization of ownership uh and uh basically ownership of clinical trial data around a particular treatment protocol let's say you know you you work out the soft-paid and drug is really great for treating cancer um you can create and you know and you think it's going to be really good you can you can mint this open source pharma ip nft to allow fractionalization to raise a few million dollars um to do the clinical trials and then these open source pharma NFTs are the ones that create the actual market for the retroactive public goods funding then there's a question of like how are we going to allocate that retroactive public goods funding to the owners of the ip nfts that are successful and syros is going to be the one running through that sort of uh that flow but um uh we've got essentially this medical impact down and what happens is it's based on uh this thing that i did for my thesis called the um that i was relying on for my thesis uh it's done by another um a couple of uh academics um agent holis and thomas bogie um it was called the medical impact fund um and this is a medical impact down and basically we've got the crowdfunding that comes in we've got a big prize fund and then 20 percent save the price fund or a fixed amount of that price fund is payable every year to successful clinical trials um and what happens is you have ip nfts which are minted to raise money for the clinical trials and if they're successfully turned into hyper-sirks having a number of impact points and the number of impact points is determined um because these clinical trials are very formalized you can compare them you can say uh the clinical trial is a randomized control trial where you treat uh where you compare your off-patent drug versus usual care and then if your off-patent drug is 50 percent better than usual care then you get 50 impact points and that's that determines how long you can be registered how much you get of that that the price fund is as as distributed proportionally 20 percent of it is distributed proportionally every year between those um uh proportional to impact points and also um after a while the impact points get um get deregistered basically um say five years and then that increases proportionally the amount of clinical trials that might um uh that uh that might have money that might be available and the idea is that after a while is this kind of uh equilibrium that's reached where basically impact investors get um around 10 return on their investment so they do the MPV that they like work out the the net present value of the chance that if they fund if they put in a million dollars for this clinical trial what's the chance that I'm going to make 10 return on my investment and then they'll look at the money that's available from uh the the outcome payments from the prize and then they'll they'll decide whether they want to fund it or they want to register or not so basically this market equilibrium is reached automatically and what we want is just everyone to basically put their money in the top funnel and that will automatically allocate it to the people on the bottom funnel and um I'm just and also we've got yeah we've got Cyrus and he's um uh he's going to basically run through this and demonstrate it but it's a de-risking mechanism and the idea I'll just uh mention in the next slide the idea is once we've got an optimal treatment protocol say for an off-payment drug um then we would negotiate what's called an advanced mark commitment with payers like say health insurers and governments to get the funding to get this through to FDA approval and so where they basically agree we'll pay you 100 million dollars if you can get this uh drug through and get it to FDA approval on the base that will save like 200 million dollars or more so we're happy to do that and it's the same sort of prize mechanism but initially we want to do this de-risking thing and that's where I will pass it on to Cyrus our our wonderful Dave. Hello everyone my name is Cyrus I'm excited to take you all through we've got over here in Perukal Labs Research. I want to draw to attention the example of an elephant okay maybe y'all have seen this graphic before but here's an elephant and there's like seven different blindfolded people around it and one of them is touching the trunk and then the other is touching like the legs and the other is touching the ears and they're all being like oh this is a different thing and so what I'm going to present is the the elephant and depending on which stakeholder you are you're going to have a different experience of this elephant. I want to build up our knowledge really quickly about some of the concepts we're going to use here the first concept I want to look at is a capital flow so if you've ever used superfluid or DRIPS network you know what this is about you have a source of funds then you decide to flow a dollar per second for a year to a receiver. That makes sense amazing and then of course we can compose these we can have splitters and have flows go to different nodes great and this is this is our like our primitive in a sense this is the this capital flow is a primitive we're working with DRIPS network specifically they have had a protocol on mainnet since january the devs behind radical radical being quite a radical take on open source software and so upon DRIPS network we're building out two specific let's say dauified primitives to support us and what we're trying to do so the first primitive we're calling a prize pool and a prize pool you can imagine as adjusting the flow by passing through x percent so you have a source you put in like a million dollars or ten thousand dollars this price pool is configured to only flow through 20 percent and so the receiver only gets 20 percent of this that's the first primitive this is a flow adjuster and then we have impact splitters which as alluded to by sovereign earlier they will they will split the inflow pro rata to the number of points that are assigned to different receivers and you have an agent that administers this so these are two generalizable mechanisms we can compose them layer them however we want and even and just to solve this point earlier an advanced marketed commitment and a paid for success prize pool are the same thing and so what you're seeing now as a mechanism can be used for us to first set the table and validate and legitimize and through research and randomized controlled trials these these off patent this off-payment medicine and then this mechanism can get then used to onboard large payers onto onto what it is that we're doing the impact that we're trying to make in the world so there's this there's also ip nfts um i'm imagine a lot of people here are familiar with ip nfts and hyper asserts you can imagine they're very similar actual a hyper certifying a certain impact can be it can is one potentially use case for an ip nft and so as we're going through the system i'm going to go through i want us to take the perspective of a system designer of a somebody who's interested in public goods and financing public goods and doing good for the world make making sure that their dollars are well spent and not spent on bullshit not spent on things that doesn't doesn't turn out to work and so this is the top half of the chart this is so far the pay for success model so you can imagine there's a treasury for a dow and the dow has capital that it can then put into a general price pool and then 20 of that flows to this dow impact splitter and there's the dow members through some governance mechanism can assign impact points like seven points or five points to different specific price pools different disease classes some of them went over nine or ten of them and so what i'm showing you is how it is a simplified model of this of our system that can scale because these splitters you know you just add more receivers to the splitter and what ideally this looks like in a year or two with multiple different things set up now we have to play charades we have to play we have to run a scene in the dow space where we have to get the right agents to make the right decisions and so this system as architect that supports that and we can initially start off with one specific price pool for example or just one general price will connect it to one specific price pool and that's that's more focused for a go to market strategy but naturally the system extends and it doesn't require any code changes or whatever just deploy some more contracts you know so you have the dow impact splitter and we're letting dow members assign points to specific disease classes we can imagine there's different governance structures we can experiment with here that could be quadratic funding quadratic voting there could be a regular simple voting too which could be really useful when there's only a few impact splitters going on a few things to split to and you know there's capital that can flow into any of these nodes okay so we could run a general nft series and then this flows capital directly to the general price pool we could do a specific nft series for psychedelic impact and it'll flow capital directly to the open psychedelic price pool for major depressive disorder and health insurers and governments can also fit into any of the system if they want to look good so and different agents can permissionlessly come and start flowing capital to specific areas and that's the infrastructure that radical trips is really helping us support from this price pool you have going things going into the impact splitters for that specific price pool and then it goes to different treatment votes now down here it's cut off because we're going to look at this one over here to see how it works but the system that I'm about to go through we'll apply here as well okay so up here we had people interested in public goods pouring money at the top of the system pouring water into the system and then it's flowing through proportionally based on good decision making by the DAO at the top and also a medical prize committee for a specific impact splitter for a specific disease class these are the experts that are going to help make this decision this you can imagine is a gnosis safe gnosis safe that updates you know that calls a specific function on the impact splitter contract cool and the water of the capital is flowing all all the way to this shares vault okay so this shares vault is really the link between the investors who are playing as participants in the capital markets to invest in the right sort of projects so there is this open source ip nft right this could be for specifically this could be like you know exercising twice a day and drinking two glasses of mocha for it could be as simple as that but and then if this proves that that you know this improves this patient outcomes for a specific disease class then this is a treatment protocol that works and it's a natural remedy for a treatment that in many ways could be better than you know the philosophy of keeping people sick within the pharma world and stuck on your little dispenser of drugs that the health insurers will pay for so this open source ip nft is this is this purple box is the same nft okay it's just going through different states over here and this what we're hoping is that the underlying implementation of this is a hyper cert so we want to subclass the hyper cert and enhance it with certain functionality so at the beginning you know you have proposed then you have like approved and you have completed for the state of randomized controlled trials this is sort of like uh this is sort of like how in the hyper cert spec being currently developed by raid guild you have prospective and then in progress and then retroactive so it maps very clearly to that we also have an evaluation nft right so there's the evaluation nft that's coming into the hyper cert framework that's linked to the open source ip nft um i have to admit there's some things wrong with your def spec that i'd like to comment on that uh there's there's a little missing this link doesn't really exist another way you think it does in the chart but that can be easily fixed okay so there's these shares for this open source ip nft right and there's different ways to create these shares there's so many erc20 launch pads projects out there and so you can use syndicate you can use juice box you can use molecule all those creating the platform for these as well for people to mint shares for something specific and these shares are the fractionalization of this open source ip nft these shares get deposited into the shares vault to receive a vault token and this vault token acts like a tradable bond so this vault token at any time can be burned and redeemed for a pro rata share of whatever's accumulated in this vault you can hold the vault token until maturity and then you just you've made all the money or you can sell it earlier to somebody else who wants to claim on those future cash flows so this is where the markets can the investors can a you know invest in something that's innovative and b have the option for liquidity which can de-risk their investment if they know that okay here is something that's a claim on future cash flows if i want to exit this beforehand there's there's a way for me i'm not stuck holding on to this thing and so this is where i want to look at the multisig because it's probably going to be a multisig that's shared by a researcher and their investors and they fractionalize their open source ip nft right they raise funds for it let's say they raise two million dollars they've also submitted this uh they've also when they created this actually um this goes into like an inbox for the medical price committee to review the medical price committee can review and approve the tree protocol and say okay we've taken an initial look at what you're proposing this seems like it's on point now you're clear to go and we're going to you know consider you you just have to go perform the randomized controlled trials great so now the state on this the hypothesis is still unproven but the randomized controlled trials is approved all right now it's approved now that it's approved the multisig the multisig for the research investors knows that they can then go fund the randomized controlled trials they can go fund them and pay a contract research organization these folks were barely two million dollars to go and run the randomized controlled trials with the protocol you've performed in a standard way in a world class way so we can have the right data to legitimize the protocol and this contract research organization then creates an evaluation nft where they include the published clinical trial data and assign a certain amount of impact points based on the improvement in patient efforts the creation of this evaluation nft then informs the medical price committee to update the hypothesis and set the state to complete it on the hyperserve on the open source ip nft so we have this this checks and balances going on where our medical experts review the randomized controlled trial data and then actually update the hyperserve to reflect that cool they then take a look at the impact points that were assigned and then go and update the open longevity impact splitter to make sure that okay this vaults gets six impact points and it's fine if it gets three whatever whatever makes sense in that point in time it gets six and they will continuously monitor this um they will have they will have a protocol for monitoring this reviewing things every year for example so that and and there could be this agreement where um once you get assigned impact points you're going to stay on for five years for example so there's different there's different um financial creativity that we can apply to a situation and so that really wraps it up for this stage there's a capital flow system of pipes with different agents affecting system state at key points it's permissionlessly extensible and other people can come start streaming funds into it it is fiscally responsible because it ensures it tries to ensure this continuous funding over a multiple year time scales with these 20 flow adjustments going on we let the Dow we get let we let general people inform us with what's important to them but then we let the medical experts and the contract research organization and the research and the researcher do do the good work and decide okay like this is the right place to put money the investors we engage with because now they have this source this incentive right they can get outcome payments for their investment that's the principal challenge with molecule if you guys have taken a look at the molecule anytime lately you check out their marketplace they have 250 research projects listed right and when you load their page and the IPFS gateway works um you'll find that the four projects that have been funded have all been funded by Vita Dow and then there's a bunch of other projects that are trying to come online and it's not clear that the any of them have raised any money and why would they if an investor is coming into this thing like what's the point unless they have a really clear you know connection maybe they're uh you know some some record scientist in biology who became mega rich and now has a patron of like his field wants to go and finance one of these okay great that works but there's no enough thing at the end of this system that's why down here we have molecule we have Vita Dow right funding this we have other mechanisms for potential funding but there's this market failure happening right and that's where our system is a great way to allocate capital only pay for success only pay for valid improved improvements in patient outcomes and create the this is like a pull system right pull the capital from the investors to invest into the right systems into the right product treatment protocols and you know figure out the risk their investors are great at evaluating risk medical medical experts maybe not so much on a financial financial lens and through the system we we rely on best-in-class infrastructure like radical drips and this upcoming hyper cert framework which having spoken with polka he's super excited to be working with us on like a v1 here and to make sure that what how hyper certs shape up to be can support this real old use case so yeah happy to talk to any folks about this anyone wants to collab we were pretty open