Blockchain startup Triall officially launched its main utility token TRL in an initial DEX offering (IDO) on Uniswap at 13:00 UTC on September 28, 2021, following a successful token pre-sale that raised more than $2 million. The company introduces a tokenized ecosystem designed to secure and streamline the development of new vaccines and medicines during clinical trials. As part of the launch, Triall also unveiled a staking program powered by DeFi company Ferrum Network, offering early adopters APRs of up to 250%.
The Pain Points of Modern Clinical Trials
Modern clinical trials are increasingly complex, lengthy, and resource-inefficient. 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 speed and rigor. Triall seizes this opportunity by leveraging blockchain and related technologies to secure and streamline clinical operations.
Verial eTMF: First Product Already in Use
Over the past three 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.
Global Ambitions and CEO Vision
Triall is a project with global ambitions, built on a fast network within the clinical trial space spanning the EU and US, and supported by a global network of partners and advisors including industry experts and key opinion leaders. Hadil Es-Sbai, CEO of Triall, commented: “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.”
TRL Token Utility and Staking
To fuel the micro-economy of its ecosystem, Triall introduces the TRL token. It primarily serves as a means of payment for software solutions within the Triall ecosystem, but also enables P2P compensation, community engagement, governance, and loyalty programs such as memberships and staking. Over the past months, Triall has partnered with several prominent companies in the crypto space including LTO Network, Zokyo, Faculty Group, Ferrum Network, as well as the TrustPad and Prostarter launchpads.
About Triall
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. Triall’s software is created by clinical trial professionals to ensure optimal user experience, solving actual industry pain points.