Binance has just announced the 63rd project on Binance Launchpool - BIO Protocol (BIO) on Binance's launchpool portal. This project is a pioneer in the DeSci field, designed to promote innovation in biotechnology through a decentralized scientific model. Perhaps in the future, this will be the promising comeback of the DeSci trend. Users will be able to lock their BNB and FDUSD to receive a BIO airdrop for ten days, with mining starting from 00:00 December 24, 2024 (UTC). So let's take a quick look at what the BIO Protocol (BIO) project is and how to join Launchpool to receive rewards at Binance.
What is Bio Protocol (BIO)?
BIO is a management and liquidity protocol for decentralized science (DeSci). Our mission is to advance biotechnology by empowering global patient communities, scientists, and biotechnology professionals to collaboratively fund, build, and own decentralized biotechnology projects and intellectual property (IP).
As a pioneering project in the DeSci field, designed to promote innovation in biotechnology through a decentralized science model. This is a decentralized protocol that creates a platform connecting scientists, investors, and the global community to collaboratively fund, build, and own research projects in biotechnology. BIO Protocol not only provides financial support but also encourages community involvement in the development and management of biomedical projects.
The BIO token allows holders access to the scientific community and IP network of BIO, allowing for widespread access to the DeSci economy.
What is the significance of Bio Protocol (BIO)?
BIO Protocol is not just a funding platform. The project aims to build a comprehensive ecosystem where biotechnology projects are incubated, managed, supported for growth, and connected to resources in the decentralized space.
From there, BIO Protocol helps researchers easily deploy creative ideas, access necessary resources, and transform research projects into practical products, contributing to sustainable development in the biomedical science field.
A new concept combining science and blockchain technology creates an open, transparent, and fair research ecosystem. DeSci leverages the power of blockchain to conduct funding research, publish content, and manage copyrights transparently.
This model helps the scientific research industry transition from a 'black box' to a more open space, fostering collective knowledge and encouraging innovation. Since early 2023, DeSci has started to attract attention, especially after receiving investment from Binance Labs and Binance founder CZ.
Highlights of Bio Protocol (BIO)
BIO Protocol is supported and built on an ever-expanding network of biotechnology DAOs (bioDAOs), community-owned IP creative tools focused on specific scientific fields.
Bio Protocol is perhaps the first wave project that everyone should keep an eye on since former Binance CEO and founder CZ mentioned the DeSci sector and expressed a desire to invest in Biotech. Bio Protocol is the first Biotech project to be funded by Binance Labs after CZ's statement. It is also the first Biotech project to appear on Binance Launchpool.
Several prominent projects in the BIO ecosystem:
VitaDAO: Research to extend lifespan.
AthenaDAO: Research on women's health.
PsyDAO: Research on science and art in psychiatry.
ValleyDAO: Research on planet-saving solutions through biotechnology.
HairDAO: Addressing hair loss.
CryoDAO: Research in the field of cryopreservation.
CerebrumDAO: Enhancing brain health and preventing neurodegeneration.
Curetopia: Researching treatments for rare diseases.
Long Covid Labs: Treating long covid syndrome.
Quantum Biology DAO: Researching electron microscopy for biology.
Products of BIO Protocol (BIO)
BIO Protocol is a new finance layer for decentralized science aimed at accelerating the flow of capital and talent into science on-chain. BIO Protocol creates trading markets, liquidity layers, and copyright management (IP) systems to support bioDAOs operating efficiently.
This protocol aims to promote the development of new bioDAOs, focusing on managing, innovating, and accelerating funding activities for science on the blockchain. In addition, this protocol ensures continuous funding and liquidity for bioDAOs and biotechnology assets on-chain while striving to standardize bioDAO frameworks, tokenomics, and datasets/products. The ultimate goal is to create and commercialize scientific data and intellectual property effectively.
The bioDAOs in this ecosystem raise funds through token sales, using the funds to conduct research, and sharing the benefits from research outcomes with members. With a funding and research management process on the blockchain, BIO Protocol ensures transparency, increases data accessibility, and promotes the participation of the global knowledge community.
Core activities
To achieve these goals, the BIO protocol has 5 core activities:
Management
Funding
Liquidity
Bio/Acc rewards
Super governance
1. Management (BIO Staking)
Holders of BIO tokens participate in managing which new BioDAOs join the ecosystem, allowing bottom-up access to funding for science. The community-selected BioDAOs are then funded, added to the treasury, and ultimately supported by the BIO Protocol. Since the BIO Protocol relies on high-quality BioDAOs, governance requires locked BIO to participate, ensuring that participants will remain committed to the network long-term.
By using vBIO (locked BIO), BIO holders will have the ability to commit their trust in a new DAO candidate submitted to the BIO Protocol by 'Operators' (stakeholders in the network supporting the incubation phase of BioDAOs).
BIO holders use vBIO tokens to collateralize the BioDAOs they wish to accept, and if a DAO they have collateralized is voted through, stakers will gain access to white-listed funding rounds and privileged access to the DAO's products, data, or services.
2. Funding
If a BioDAO candidate is accepted into the BIO Network, all vBIO stakers committed to that BioDAO will have the opportunity to participate in an initial private auction - a seed round put on the whitelist.
Through BIO, users can support breakthrough science right from day one, with terms equal to or better than VC or other organizations. For BioDAOs, this creates an opportunity to align a valuable scientific community established beforehand to become participants in the network for that specific research field.
3. Liquidity
BioDAOs should focus on science, not liquidity management. BIO alleviates this issue by managing liquidity positions on the secondary market of bioDAOs.
BIO Protocol can support on-chain liquidity for the BIO network using BIO tokens and other tokens held in the BIO treasury.
BIO tokens can be paired in liquidity pools with BioDAO tokens (e.g., VITA/BIO, HAIR/BIO), as well as with other assets (e.g., BIO/ETH) to facilitate low-cost conversions within the network, accumulate fees, and build protocol-owned liquidity (POL).
4. Bio/Acc rewards
BIO Protocol may issue rewards in the form of BIO tokens ('bio/acc rewards') to incentivize bioDAOs to achieve milestones designed to increase network value (AUM).
BIO holders can choose to use bio/acc rewards to incentivize bioDAO milestones such as funding a certain value of on-chain science, maintaining a certain token liquidity level, developing IP to reach clinical trials, or generating revenue from consumer products/services.
5. Super governance
BIO Protocol will hold various BioDAO tokens in its treasury and may thus serve as a super governance layer empowering BIO holders to manage various types of BioDAOs and scientific intellectual assets.
BIO Launchpad
BIO Launchpad is a platform connecting investors with biotechnology projects, operating on an auction model. Investors can participate in bidding for tokens of bioDAOs and claim tokens when selected. This platform helps bioDAOs easily raise funds to conduct research.
BIO Launchpad has three distinct phases:
Management: This stage determines whether a project is allowed to launch through the BIO Protocol.
Acceleration: This stage allows the project to raise initial funding from users.
Separation:The final stage releases the project to the open market supported by liquidity teams.
bioDAO Incubator
BIO incubates the creation of biotechnology DAO projects and DeSci (Decentralized Science) projects, aiming to fund and support researchers and builders in this innovative field. Our program helps teams understand and overcome the unique challenges of building both a DAO and a biotechnology organization. Our ultimate goal is to develop decentralized science, biotechnology initiatives, and promote the research and development process in science.
Overview of the Acceleration Program:
Time: Hybrid model of 16 weeks (live and online)
Benefits: Funding, Liquidity, Networking, Knowledge, Guidance, Support
Structure: Organized into 3 milestone programs, culminating in the public launch of new biotechnology DAOs.
Key Features:
Funding and Resources: Participants receive financial support through the Bio Protocol. We provide detailed guidance and templates to launch a biotechnology DAO.
Guidance: The program provides mentorship from experts in various fields, including scientific validation, governance, token economics, legal aspects, Web3/DeFi, and community building.
Network: Participants have access to an increasingly growing network of contributors, advisors, scientists, and builders in the DeSci ecosystem.
Common governance: Successful DAOs receive common governance rights in bio.xyz, promoting a collaborative ecosystem.
Technical support: No Web3 expertise is required, just a willingness to learn. The program provides a technical framework and resources to facilitate the launch and maintenance of biotechnology DAOs. The Bio Protocol also offers extensive web3 and DeFi integrations, so you don't have to do it alone.
Goals of the Acceleration Program:
Expand knowledge on building projects at the intersection of web3 and biotechnology.
Support ambitious DAO builders shaping the future of decentralized science.
Create common public infrastructure to enhance network effects across the DeSci ecosystem.
Enable leaders to leverage web3 frameworks such as IP-NFT (NFT tokens representing Intellectual Property), DAO, token economics, and more.
Investors and partners of Bio Protocol (BIO)
On the website, BIO Protocol is supported by several investment funds such as 1k(x), Zee Prime Capital, Box Group, Lunar Ventures, and Fifty Years; however, details about these investments have not been disclosed.
In November 2024, BIO Protocol completed a funding round from Binance Labs, although the specific amount in this funding round was also not disclosed.
Team and advisors of Bio Protocol (BIO)
Paul Kohlhaas is the founder and CEO of Molecule, and one of the pioneers in the DeSci field, as well as a co-founder of VitaDAO. Before launching Molecule and BIO Protocol, he held several key positions at ConsenSys and leading organizations in the blockchain industry. He has also contributed to the deployment of blockchain solutions for the Swiss government.
Clemens Ortlepp is the co-founder and Chief Product Officer (CPO) of BIO Protocol. He is the founder of MTX Studio, a creative studio specializing in decentralized technology, and previously served as Product Director at Molecule.
BIO Protocol boasts a diverse team with members having rich experience in both blockchain and biotechnology.
Basic information about the BIO token
Token Name: Bio
Ticker: BIO
Blockchain: Ethereum
Token Standard: ERC-20
Contract Address: 0xcb1592591996765Ec0eFc1f92599A19767ee5ffA
Token Type: Utility, Governance
Total Supply: 3,320,000,000 BIO
Circulating Supply: 1,296,529,168 BIO
Total supply: 3,320,000,000
Status of BIO token: Non-transferable
Maximum supply: Unlimited supply, to be voted on by BIO governance.
New BIO can be minted for the protocol or network growth in the future. This requires the deployment of new token contracts to replace the current BIO token.
The total supply of BIO at Genesis will be divided into eight categories described in the chart and table below.
Community: 56%
Community auction: 20%
Community airdrop: 6%
Ecosystem incentives: 25%
Molecular ecosystem fund: 5%
Investors: 13.6%
Core contributors: 21.2%
Advisors: 4.2%
Molecular: 5%
Unlocked BIO supply schedule
Unopened supply differs from circulating supply; this is the total unopened supply and may be used but is not necessarily required to be deployed.
Circulating supply distribution in the first 3 years
With a 6-year vesting schedule for the core team and investors, the following section will analyze in detail the distribution of circulating supply at the end of the first 3 years. This does not include any inflation directed by the community.
Who are the Launchpool Bio Protocol (BIO) rewards allocated to?
Users will be able to lock their BNB and FDUSD to receive BIO airdrops for ten days, with the mining activity starting from 00:00 on December 24, 2024 (UTC).
Binance will be the first platform to list the token mentioned here, with trading starting at 2025-01-03 10:00 (UTC). Any claims regarding the offering of this token before the stated timeframe are likely false advertising. Please do your own research to safeguard your funds!
Listing
Binance will then list BIO at 2025-01-03 10:00 (UTC) and open trading with trading pairs BIO/USDT, BIO/BNB, BIO/FDUSD, and BIO/TRY. A Seed Tag will be applied to BIO.
Details about BIO Launchpool:
Token name: BIO Protocol (BIO)
Maximum token supply: 3,320,000,000 BIO (dynamic, can increase through network governance)
Total Genesis Token supply: 3,320,000,000 BIO
Launchpool token rewards: 99,600,000 BIO (3% of the total genesis token supply)
Initial circulating supply upon listing on Binance Spot: 1,296,529,168 BIO (representing 39.05% of the total genesis token supply)
Research report: BIO Protocol (BIO) (will be available within 12 hours after this announcement)
Token contract/Network details: Ethereum (0xcb1592591996765Ec0eFc1f92599A19767ee5ffA)
Terms of the Launchpool will apply. Users must complete KYC as required by Binance.
Hard cap per user:
35,275 BIO in the BNB pool
6,225 BIO in the FDUSD pool
Supported teams:
BNB Lock (website will be available in about 12 hours): 84,660,000 BIO as rewards (85%)
FDUSD Lock (website will be available in about 12 hours): 14,940,000 BIO rewards (15%)
Farming period: From 00:00 on 24-12-2024 (UTC) to 23:59 on 02-01-2025 (UTC).
BIO Farming Accumulation
Dates (00:00:00 - 23:59:59 UTC each day) 2024-12-24 - 2025-01-02
Total daily rewards (BIO) 9,960,000
Daily rewards of BNB Pool (BIO) 8,466,000
Daily rewards of FDUSD Pool (BIO) 1,494,000
Summary:
Bio Protocol is a notable project, as not many successful and prominent DeSci projects exist like Bio Protocol currently. Worth watching and following. At Binance, don't forget to participate in the launchpool of BIO. For all new projects, take the time to learn and research. Trading Insight will provide full information and knowledge for you to have a better perspective on the current and future market. Don't forget to follow and interact with Trading Insight!