Blockchain Startup Triall Introduces a Tokenized Ecosystem to Speed Up and Improve Medical Research
Blockchain startup Triall launched its main utility token TRL in an initial DEX offering (IDO) on Uniswap at 13:00 UTC today, after raising more than 2 million USD in its token pre-sale campaign. The company introduces a tokenized ecosystem that helps secure and streamline the development of new vaccines and medicines during clinical trials. As part of its launch, Triall also introduces a staking program powered by DeFi company Ferrum Network, enabling APRs of up to 250% to reward early adopters of TRL.
Modern-day clinical trials are increasingly complex, lengthy, and resource-inefficient. As a result, it typically takes 10 years of clinical trials before a new medicine can enter the market. Last year’s exceptionally fast COVID-19 vaccine trials demonstrated that, when stakeholders and efforts align, there are clear opportunities to improve the speed and rigor of clinical trial operations. Triall is seizing this opportunity by leveraging blockchain and related technologies to secure and streamline clinical operations.
Over the past 3 years, Triall developed and commercialized its first product Verial eTMF, which allows researchers to anchor research data on the blockchain to secure the integrity of clinical trial data. The product is already being used and on-boarded by six clinical trials, including an IBS, autoimmune, and COVID-19 vaccine project. Verial eTMF is the first of many blockchain-enabled applications that will be integrated into a single digital platform: the Triall ecosystem.
Triall is a project with global ambitions. The company builds on a fast network within the clinical trial space, spanning the EU and US regions, and is supported by a global network of partners and advisors, including industry experts and key opinion leaders that support Triall in the further buildout of its ecosystem.
Speaking about Triall’s global ambitions, Hadil Es-Sbai, CEO of Triall said:
“This is the right time for disruptive innovations to demonstrate their added value in clinical operations and make their way to industry-wide adoption. Our first product is currently being onboarded in a growing number of clinical trials. We can’t wait for the day when Triall will be recognized as the go-to ecosystem for a range of essential products that enable faster, smarter, and more-efficient clinical trials.”
To fuel the micro-economy of its ecosystem, Triall is introducing its main utility token TRL. This token primarily serves as a means of payment for the software solutions offered within the Triall ecosystem but also enables P2P compensation, community engagement, governance, and loyalty programs (such as memberships and staking programs). Over the past months Triall has partnered with several prominent companies in the crypto space including, among others, LTO Network, Zokyo, Faculty Group, Ferrum Network as well as the TrustPad and Prostarter launchpads.
Triall brings Web 3.0 to medical research by creating a digital ecosystem of blockchain-integrated software solutions that secure and streamline the development of new vaccines and therapeutics during clinical trials. Triall’s solutions make clinical trials tamper-resistant, and enable secure and efficient integrations between the many isolated systems and parties involved in clinical trial processes. Triall’s software is created by clinical trial professionals to ensure optimal user experience, solving actual industry pain points.
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