Currently, the pool is 3% with chips mined for 10 days. To be honest, this proportion and time have significantly lowered the yield. Currently, the pre-market price of $BIO has been fluctuating around 0.9.
According to the current amount of FDUSD mined, the APY is approximately 31%. The mining of BNB is lower; if we calculate at BNB 700, the APY is only 22%.
Currently, the borrowing rate for BNB on Venus is 30.2%, so if the price of $BIO maintains its current level, borrowing coins to participate in new projects would incur losses. (Do the big guys really have such confidence in BIO's future?)
2. The highlight of the bio narrative lies in its positioning as an incubator for Desci, and the projects inside have real connections with giants in the real Web2 scientific world, such as VitaDAO backed by Ruhi Investment. Bio also enjoys ownership rights to the IP and patents produced by its sub-DAOs.
Friends who understand medicine know how exaggerated the returns can be when a truly effective product emerges. Moreover, now any project that can succeed in the DAO world would shock the world (for example, research on hair loss, seeking to save those who stay up late and lose hair in the crypto space).
So, although there is a lot of controversy, the upper limit can still be quite high.
3. Unlike Vana, before being selected for listing by Binance, the related Desci sector already had many hyped disciples, such as $RIF and $URO (these two are also known to be airdropped). This determines that $BIO has a relatively solid grassroots support, with almost no market skepticism about conspiracy schemes.
4. Major figures like CZ and Vitalik have a favorable view towards the Desci direction, and currently, BIO seems to have the most potential to lead.
However, in the short term, several points regarding the coin price need to be noted:
1. The proportion of this circulating supply is huge, reaching 39.05%.
2. There was an early community auction, and many friends (myself included) participated, with relatively low costs. At TGE, 12.57% of the auctioned tokens were released, which may create significant selling pressure.
Finally, historically, borrowing BNB for new projects has basically never incurred losses. If this theory continues to hold, then the price of $BIO should at least reach 1.364.
This project can still be mined for another 6 days, so those with idle assets might as well try mining. Whether to participate in the secondary market will depend on the sentiment at that time and whether there are connections to Korea.