How Caper approaches this Hair…what-is-a-caper) , a member's weight is the canonical vote weight (/wiki/governance/voting) (t·v)/(V·T) – governance holdings t multiplied by an earned, soulbound proof-of-vote record v (verified in contracts/common/src/lib.rs: compute_vote_weight returns (held·votes)/(supply·circulation); and in contracts/core/src/caper_dao.rs, where the vote token is minted one per ballot cast and on no other member-facing path – buying and selling mint none – at DIVISIBILITY_MAXIMUM with a depositor rule of global_caller, making it ngrows with an earned, soulbound proof-of-vote record, not with governance holdings alone: the vote token is minted only when a member casts a ballot – buying and selling mint none – and cannot be transferred, so a big bag alone can't capture con-transferable)ol. The same formula sets a memb…eople actually doing the work.

Type DeSci DAO —– hair-loss (androgenic alopeci…Paus androgenic-alopecia data —– $75,000 (Feb 2023) Website …xyz (https://www.hairdao.xyz/)

Overview HairDAO is a decentra… bio.xyz accelerator pipeline —– the second BioDAO after Vita…t traditional biotech ignores.

The "cosmetic condition" fundi…y of patients and researchers —– the people who most want a cure —– can pool capital, direct it a…dering it to a single company.

The $HAIR token and governance… DAO's first funding decision —– acquiring the Cutaneon dataset —– passed a Discord vote 94 to 2…ed into the research pipeline.

Research funded and community-…asury, not by an outside firm —– so any upside from a successf…or licensing on its own terms.

Place in the Bio Protocol ecos…t shares their common toolkit —– Molecule (/wiki/desci/ecosys…ted governance for allocation —– while pioneering the model fo…AOs (/wiki/desci/desci-daos) .

How Caper approaches this Hair…d own research it cares about —– exactly the shape a caper (/… balance, which trades freely —– so a large enough buyer can a…vernance/voting) (t·v)/(V·T) —– governance holdings t multipl…n no other member-facing path —– buying and selling mint none —– at DIVISIBILITY_MAXIMUM with …eople actually doing the work.

The governance record, and the…) passed on 28 February 2025 —– its entire case being “We need to move more quickly” —– every ballot since has run at…s” misses both halves of that —– the near-unanimity, and the s…hot white-label vanity domain —– it CNAMEs to cname.snapshot.o…apshot-whitelabel.netlify.app —– and the certificate it presen…apses and the record does not.

A second token, and what it is…token whose economic activity —– principally creator/trading fees —– feeds directly into HairDAO's…contracts and tokens off Base —– a treasury decision (/wiki/d…ix voters holding 63,529 HAIR.

Research funded and community-…tion for scarless transplants.The site's shop button leads t…or licensing on its own terms.

How Caper approaches this Hair…, making it non-transferable).The same formula sets a member…eople actually doing the work.

The governance record, and the…allot since has run at 50,000.Four proposals closed below th…apses and the record does not.

Type DeSci DAO — hair-loss (an…uly 2026, one so far in 2026 Product MINX oral minoxidil, sold through Anagen (https://anagen.xyz/) from $35 a month Token $HAIR (Gnosis Auction la…xyz (https://www.hairdao.xyz/)

Research funded and community-…ist-1 / YAP-1 inhibitor work. Read on 25 September 2026, HairDAO's site (https://www.hairdao.xyz/) lists ten programmes. Seven are marked patent filed: TRH, T3 and T4, three drugs approved for other conditions (naltrexone, olanzapine and doxycycline) and the cosmetic antimicrobial farnesol, each of the last four tested topically on human hair follicles ex vivo. Three are funded and running: dutasteride delivery vehicles, Twist-1 inhibition across eleven compounds in human dermal papilla cells, and YAP-1 inhibition for scarless transplants. The site's shop button leads to Anagen (https://anagen.xyz/) , which sells the one product HairDAO's research has reached: MINX, a lipid-matrix capsule of oral minoxidil, prescribed after an online consultation and priced from $35 a month. Anagen's pharmacokinetics page (https://anagen.xyz/treatment-science/minx) reports plasma minoxidil levelling near 6 ng/mL taken with food, against a peak near 37 ng/mL for immediate-release tablets. Bio's case study (https://www.bio.xyz/case-study/hairdao) counts the same ten programmes and one product, and reports a $2.96m seed round that took the treasury past $3.3m. The defining feature is owners…or licensing on its own terms.

The governance record, and the…raphQL hub on 4 September 2026 and unchanged on 25 September. Nineteen of those ballots fa…apses and the record does not.

External links - hairdao.eth …) – the patient-facing site; its TRH, T3 and T4 programmes are now marked patent filedseven of its ten programmes are marked patent filed - Anagen (https://anagen.xyz/) – the shop HairDAO's site links to, selling MINX oral minoxidil - Bio case study: HairDAO (https://www.bio.xyz/case-study/hairdao) – Bio Protocol's account of the raise and the pipeline - HairDAO project pipeline (…orecasts results “by May 2023”

How Caper approaches this Hair…inted one per ballot cast and 0.01 per XRD of gross trade value on each leg of a trade,on no other member-facing path — buying and selling mint none — at DIVISIBILITY_MAXIMUM with …eople actually doing the work.

Type DeSci DAO — hair-loss (an…kst Governance Token-weighted — Discord (https://discord.com/) discussion → on-chain vote (VitaDAO model), on hairdao.eth (https://snapshot.box/#/s:hairdao.eth) on Snapshot: 33 proposals from HIP-1 (closed 3 March 2023) to 14 July 2026, 62 followers, quorum 50,000 HAIR Second token HLT (HairDAO Laboratory Token) on pump.fun, recognised by a binding vote closed 24 September 2025 (https://snapshot.box/#/s:hairdao.eth/proposal/0x30776cd3583151c96a43b7ebe9053d7b4a3a3b7a480374f3b6e244e6a750f3c7) as a lab-access utility pass and explicitly not a governance token Status 🟢 Active – site and treatment programmes current; last binding ballot closed 14 July 2026, one so far in 2026 Token $HAIR (Gnosis Auction …xyz (https://www.hairdao.xyz/)

The $HAIR token and governance…the on-chain IP-NFT was minted, but Discord has not been the binding venue since the following month: HIP-1 (https://snapshot.box/#/s:hairdao.eth/proposal/0x02eae8b99c2ad35eaf5a95ffe2827c2e0535786477a9fe3f60059d5e68567e06) opened the DAO's Snapshot space on 2 March 2023, and every allocation since has been settled there. Capital raised by the token,…ed into the research pipeline.

The governance record, and the venue nobody can open HairDAO's binding votes live at hairdao.eth on Snapshot (https://snapshot.box/#/s:hairdao.eth) , and the record there is complete and public: 33 proposals and 62 followers, running from HIP-1 “OTC Mint” (https://snapshot.box/#/s:hairdao.eth/proposal/0x02eae8b99c2ad35eaf5a95ffe2827c2e0535786477a9fe3f60059d5e68567e06) (closed 3 March 2023) to “BASE → ROBINHOOD CHAIN” (https://snapshot.box/#/s:hairdao.eth/proposal/0x647dcd7d8854620416e2fc5dc93604c22a13c372ab23e22e1ec46255cd9ab1d6) (closed 14 July 2026), read keylessly from the Snapshot GraphQL hub on 4 September 2026. Nineteen of those ballots fall in 2023, five in 2024, eight in 2025, and one so far in 2026. The space has rewritten its own quorum twice, and that is the clearest thing the record says about participation. HIP-1 opened under a quorum of 31,250 HAIR; from HIP-11 in October 2023 it stood at 75,000; and after a one-line proposal titled “Quorum to 50k” (https://snapshot.box/#/s:hairdao.eth/proposal/0x6efbe2516ba463f6c34d9e696f6c624d59a5d2332745f4a19a0a6b802edbce10) passed on 28 February 2025 — its entire case being “We need to move more quickly” — every ballot since has run at 50,000. Four proposals closed below the bar in force at the time (HIP-15, HIP-23, HIP-24 and HIP-26), one of them on 4,369 HAIR against a 75,000 quorum. Turnout across all 33 ballots runs from 3 to 18 voters. That is the shape quorum and threshold design (/wiki/dao-governance/concepts/voting/quorum-and-threshold-design) and voter apathy (/wiki/dao-governance/concepts/analysis/voter-apathy) describe from the other end: a threshold set against a token supply rather than against the handful of people who actually turn up, then lowered once it starts blocking things. Twenty-nine of the 33 carried no weight at all on any option but For. Of the four that drew opposition, one was defeated outright: “Bio.xyz HAIR distro” (https://snapshot.box/#/s:hairdao.eth/proposal/0xd77d09d5adb3ec056e5aa0e826d711ee2aab7076b71a92a023d2b9965ab630b5) , closed 10 September 2023, took 24,898 HAIR For against 50,877 Against across 13 voters. A directory that records only that a DAO “votes on proposals” misses both halves of that — the near-unanimity, and the single occasion it broke. Why this record is easy to miss is worth stating, because it is a defect no link checker reports. HairDAO's own documentation routes readers to governance through a VOTE button pointing at gov.hairdao.xyz. That host is a Snapshot white-label vanity domain — it CNAMEs to cname.snapshot.org and on to snapshot-whitelabel.netlify.app — and the certificate it presents is Netlify's wildcard *.netlify.app, issued 16 February 2026, whose only subject alternative names are *.netlify.app and netlify.app. Probed on 4 September 2026 the TLS handshake fails outright, so the one door the DAO points its own readers at cannot be opened by any browser, while the record behind it answers every keyless query. A vanity domain is a rented pointer at a durable record; this is what it looks like when the pointer lapses and the record does not.

A second token, and what it is not In September 2025 the DAO ratified a HairDAO Laboratory Token (HLT), launched on pump.fun, in a proposal that closed on 24 September 2025 (https://snapshot.box/#/s:hairdao.eth/proposal/0x30776cd3583151c96a43b7ebe9053d7b4a3a3b7a480374f3b6e244e6a750f3c7) with 76,611 HAIR For, none against, across seven voters. The proposal is unusually explicit about the boundary it draws: HLT is “a laboratory utility token whose economic activity — principally creator/trading fees — feeds directly into HairDAO's research budget”, while “the HAIR token remains the sole instrument of governance and treasury control”. HLT buys lab and telehealth access; it does not buy a vote. Separating the fundraising instrument from the governance instrument is one answer to the pressure token-weighted voting (/wiki/dao-governance/concepts/voting/token-weighted-voting) creates everywhere, that a freely-traded governance token invites people to buy influence they have not earned. It also leaves the DAO with two tokens whose holders have different rights, only one of which appears in a tally. The most recent binding exercise of that governance, on 14 July 2026 (https://snapshot.box/#/s:hairdao.eth/proposal/0x647dcd7d8854620416e2fc5dc93604c22a13c372ab23e22e1ec46255cd9ab1d6) , authorised the multisig to move up to 100% of the DAO's L2 liquidity pools, vesting contracts and tokens off Base — a treasury decision (/wiki/dao-governance/concepts/treasury/dao-treasury-management) taken by six voters holding 63,529 HAIR.

External links - hairdao.eth on Snapshot (https://snapshot.box/#/s:hairdao.eth) – the binding vote record, 33 proposals - hairdao.xyz (https://www.hairdao.xyz/) – the patient-facing site; its TRH, T3 and T4 programmes are now marked patent filed - HairDAO project pipeline (https://about.hairdao.xyz/project-pipeline) – the documentation site, whose thyroid-hormone entry still forecasts results “by May 2023”

How Caper approaches this Hair…e the vote token is minted one-per-vote ballot cast and 0.01 per XRD of gross trade value on each leg of a trade, at DIVISIBILITY_NONEMAXIMUM with a depositor rule of glob…eople actually doing the work.

How Caper approaches this Hair…cord v (verified in contracts/logiccommon/src/lib.rs: compute_vote_weig…eople actually doing the work.

How Caper approaches this Hair…cord v (verified in contracts/src/caper_daologic/src/lib.rs: compute_vote_weight retur…d·votes)/(supply·circulation); and in contracts/core/src/caper_dao.rs, where the vote token is minted one-…eople actually doing the work.

Place in the Bio Protocol ecos…lleydao) (synthetic biology), and CryoDAO (/wiki/desci/ecosyst…m/cryodao) (cryopreservation), and Long COVID Labs (/wiki/desci/ecosystem/long-covid-labs) (post-viral illness) as one of the BioDAOs incubat…AOs (/wiki/desci/desci-daos) .

Type DeSci DAO — hair-loss (androgenic alopecia) research & drug development Focus Funding and owning R&D into new hair-loss treatments; repurposing and reformulating existing molecules Founded 2021 (first IP-NFT transacted Feb 2023) Founders Andrew Verbinnen & Andrew Bakst Governance Token-weighted — Discord (https://discord.com/) discussion → on-chain vote (VitaDAO model) Token $HAIR (Gnosis Auction launch, Feb 2023) Ecosystem Bio Protocol (/wiki/desci/ecosystem/bio-xyz) BioDAO (first IP-NFT out of the bio.xyz pipeline) IP framework Molecule (/wiki/desci/ecosystem/molecule) IP-NFTs (/wiki/desci/ip-nfts) First IP-NFT Cutaneon / Dr. Ralf Paus androgenic-alopecia data — $75,000 (Feb 2023) Website hairdao.xyz (https://www.hairdao.xyz/)

Overview HairDAO is a decentralized-science ( DeSci (/wiki/desci/what-is-desci) ) collective that funds, coordinates, and owns research into hair loss. It is one of the Bio Protocol (/wiki/desci/ecosystem/bio-xyz) ecosystem's BioDAOs and was the first project to transact an IP-NFT (/wiki/desci/ip-nfts) out of the bio.xyz accelerator pipeline — the second BioDAO after VitaDAO (/wiki/desci/ecosystem/vitadao) to use the model at all, per Molecule's account of the deal (https://molecule.xyz/blog/hairdao-breaking-the-cosmetic-condition-barrier-and-unlocking-new-funding-possibilities-with-ip-nfts) . HairDAO exists to close a funding gap that traditional biotech ignores.

The "cosmetic condition" funding barrier Hair loss affects roughly eight in ten men and half of all women (https://www.hairdao.xyz/) over a lifetime, yet HairDAO reports that only about 0.004% of early-stage R&D funding targets it, and that no genuinely new treatment has reached market since finasteride in 1997. Because androgenic alopecia is classified as a cosmetic rather than a medical condition, it attracts little grant money and little pharma interest despite a large, motivated patient base. HairDAO's thesis is that a community of patients and researchers — the people who most want a cure — can pool capital, direct it at neglected science, and capture the resulting intellectual property collectively rather than surrendering it to a single company.

The $HAIR token and governance HairDAO is coordinated by the $HAIR token, launched through a Gnosis Auction in February 2023 (https://molecule.xyz/blog/hairdao-breaking-the-cosmetic-condition-barrier-and-unlocking-new-funding-possibilities-with-ip-nfts) . Modeled on VitaDAO (/wiki/desci/ecosystem/vitadao) , the token confers proportional voting rights over the treasury's governance, operations, and investment decisions: both academics and informed community members can propose projects, and holders vote on which receive funding. The DAO's first funding decision — acquiring the Cutaneon dataset — passed a Discord vote 94 to 2 before the on-chain IP-NFT was minted. Capital raised by the token, together with revenue from treatments and genomic data, is recycled into the research pipeline.

Research funded and community-owned IP HairDAO's first IP-NFT, minted in February 2023, secured initial androgenic-alopecia data from Dr. Ralf Paus's lab (Cutaneon) for $75,000 (https://molecule.xyz/blog/hairdao-breaking-the-cosmetic-condition-barrier-and-unlocking-new-funding-possibilities-with-ip-nfts) , with an option for a further $50,000 to test topical T3/T4 thyroid-hormone dosing. From there the DAO built a pipeline of funded and in-development projects (https://about.hairdao.xyz/project-pipeline) , including a pay-for-success verteporfin trial with Dr. Taleb Barghouthi (reducing scarring in hair-restoration procedures), thyroid-hormone derivatives (TRH, T3, T4), reformulated dutasteride delivery, and Twist-1 / YAP-1 inhibitor work. The defining feature is ownership: research HairDAO funds is captured as IP-NFTs (/wiki/desci/ip-nfts) and patents held by the DAO's treasury, not by an outside firm — so any upside from a successful treatment flows back to the community that paid for the science. This makes HairDAO an early demonstration that a patient community can commission drug research, hold the resulting intellectual property, and steer it toward openness or licensing on its own terms.

Place in the Bio Protocol ecosystem HairDAO sits alongside VitaDAO (/wiki/desci/ecosystem/vitadao) (longevity), AthenaDAO (/wiki/desci/ecosystem/athenadao) (women's health), ValleyDAO (/wiki/desci/ecosystem/valleydao) (synthetic biology), and CryoDAO (/wiki/desci/ecosystem/cryodao) (cryopreservation) as one of the BioDAOs incubated through Bio Protocol (bio.xyz) (/wiki/desci/ecosystem/bio-xyz) . It shares their common toolkit — Molecule (/wiki/desci/ecosystem/molecule) IP-NFTs for on-chain research ownership and token-weighted governance for allocation — while pioneering the model for a single, tightly-defined disease vertical driven largely by the patients themselves. For the wider mechanics of how these DAOs turn tokens into funded, community-owned science, see Decentralized Science Funding (/wiki/desci/desci-funding) and DeSci DAOs (/wiki/desci/desci-daos) .

How Caper approaches this HairDAO shows a community pooling capital to fund and own research it cares about — exactly the shape a caper (/wiki/foundations/what-is-a-caper) is built for. Where they differ is in how much a member's influence can be bought. In a token-weighted BioDAO, voting power tracks the $HAIR balance, which trades freely — so a large enough buyer can acquire a decisive say over which science gets funded. On Caper (/wiki/foundations/what-is-a-caper) , a member's weight is the canonical vote weight (/wiki/governance/voting) (t·v)/(V·T) — governance holdings t multiplied by an earned, soulbound proof-of-vote record v (verified in contracts/src/caper_dao.rs: compute_vote_weight returns (held·votes)/(supply·circulation); the vote token is minted one-per-vote at DIVISIBILITY_NONE with a depositor rule of global_caller, making it non-transferable). The same formula sets a member's treasury exit share (/wiki/markets/raising-funds) , so a caper cannot be quietly captured by a well-funded latecomer: a big bag still counts (t is a multiplier, not bagless), but the decisive factor is participation nobody can purchase. For a DeSci community deciding whose research to back, that keeps control with the people actually doing the work.