Author: Weilin, PANews
At 6:00 pm on January 3rd, Beijing time, Bio Protocol's token BIO was launched on Binance, and BIO/USDT, BIO/BNB, BIO/FDUSD and BIO/TRY trading pairs were opened. After the opening, BIO briefly touched $1.477, and as of 21:15, the price was $0.89. As early as 5:00 pm on January 3rd, after BIO opened on-chain transfers, its on-chain opening price was $0.7727. It should be reminded that BIO currently only supports Ethereum mainnet operations, and more blockchains will be launched in the coming days and weeks. There are multiple meme coins named "BIO" on the market that even use similar logos, all of which are scams.
Previously, the decentralized science project Bio Protocol conducted three rounds of public offerings from August 9 to November 14, raising 6.2 million dollars, 18.2 million dollars, and 3.5 million dollars respectively, with estimated token costs for the three rounds being 0.0256 dollars, 0.04277 dollars, and 0.06596 dollars. After BIO's listing on Binance, users who participated in the public offerings can theoretically achieve a maximum return of 58 times based on the first round BIO cost and the highest price after launch.
As an 'on-chain science version of Y Combinator', Bio Protocol currently has 8 sub-DAOs focusing on areas such as longevity research, brain health, hair loss treatment, women's health, long-term Covid treatment, and rare diseases. Can this track, favored by CZ and Vitalik Buterin, continue to bring growth potential and imagination to the market?
BIO listed on Binance, with public offering returns potentially reaching 58 times
The rise of Bio is inseparable from Binance's support. As early as November 8 of last year, Binance Labs announced an investment in the DeSci project BIO Protocol, stating that this investment marks Binance Labs' first foray into the decentralized science (DeSci) field. Less than a week after this announcement, CZ attended the Desci Day event held by Binance in Bangkok and discussed DeSci insights with Vitalik. On December 23, Binance Launchpool announced the launch of its 63rd project, Bio Protocol (BIO).
The public offering of Bio Protocol has provided many users with opportunities for low-cost entry, with some auction tokens directly released at TGE. However, due to a high initial circulation ratio, accounting for 39.05% of the total supply, and with 12.57% of early tokens unlocking at TGE, prior market predictions indicated that BIO would face certain selling pressure after launch.
According to on-chain analyst Yu Jin's monitoring, Arkham labeled an address belonging to Sigil Fund CIO @Fiskantes (daddy fiskantes), xinanko.eth, which transferred 6.54 million BIO (approximately 4.77 million dollars) to Binance shortly after open transfers. This BIO was obtained through the public offering, with an average public offering price of about 0.04 dollars. Currently, the price of BIO is 0.74 dollars, yielding a profit of approximately 18 times (4.5 million dollars).
Returning to the Bio Protocol itself, the total initial supply of the BIO token is 3,320,000,000 BIO, with a maximum supply and no upper limit. Future increases may be decided through governance votes. The mechanism for increasing supply requires deploying a new token contract to replace the current BIO token.
Of which community-related allocations account for 56%, with specific allocations as follows:
In terms of token distribution, the community (total 56%):
Community Airdrop (6%): 199,200,000 BIO
Community Auction (20%): 664,000,000 BIO
Ecosystem Incentives (25%): 830,000,000 BIO
Molecule Ecosystem Fund (5%): 166,000,000 BIO
Other allocations are as follows:
Core Contributors (21.2%): 703,840,000 BIO
Investors (13.6%): 451,520,000 BIO
Molecule (5%): 166,000,000 BIO
Advisors (4.2%): 139,440,000 BIO
In terms of airdrops, 3% of the total supply of BIO tokens is allocated for airdrops, with over 8,500 addresses qualifying. The snapshot date for the airdrop is April 1, 2024, and users can claim vBIO (locked BIO), which can be immediately exchanged for $BIO. The $BIO token is non-transferable until unlocked by governance voting.
As the governance token of the BIO protocol, BIO is used for the following functions:
Governance and Decentralization: The BIO token grants holders governance rights over the BIO protocol and meta-governance rights over BioDAOs in the network.
Whitelist Access: The BIO token provides holders with whitelist access to BioDAO financing rounds and permissions for tokenized IP on the network.
Curatorial Management: BioDAOs chosen by BIO holders are launched through the BIO Launchpad and receive network support in terms of funding and liquidity.
Connecting BioDAO: BIO represents a basket of DeSci tokens, as the BioDAOs in the network contribute a certain percentage of their initial token supply to the protocol in exchange for funding, liquidity, and acceleration services.
Protocol Liquidity: BIO Protocol provides liquidity through BioDAO tokens and IP tokens in its treasury, earning transaction fees from the liquidity it holds.
With Binance's strong endorsement, can the DeSci narrative continue to drive growth?
As a 'selected' project by Binance, BIO garnered significant market attention even before its launch. The team behind BIO are pioneers in the DeSci field, having previously developed Molecule (a tokenization platform focused on biomedicine) and VitaDAO (the world's largest decentralized community for longevity science).
BIO is also seen as 'on-chain science version of Y Combinator', currently having 8 sub-DAOs. In the white paper, BIO is described as an incubator for DeSci, with the most well-known sub-DAO being VitaDAO, funded by Ruihui Investment, specializing in longevity, along with other DAOs focused on hair loss (HairDAO) and Alzheimer's (CerebrumDAO).
Bio has ownership rights to the IP and patents produced by its sub-DAOs, and supporters of BIO believe its narrative potential is very high.
On January 3, Arthur Hayes retweeted an article (Degen DeSci), pointing out that early BioDAOs such as VitaDAO and CryoDAO will receive substantial BIO rewards. For example, PsyDAO obtained 15.4 million BIO tokens, whose value even exceeds the market cap of the DAO itself (calculated at a pre-market price of 0.95 dollars).
Currently, the 8 DAOs of BioDAO have gone through the first iteration of the BIO acceleration program, accumulating a market cap of over 300 million dollars. The recently launched BioDAO Quantum Biology received 13 times oversubscription, raising over 6.8 million dollars in initial funding.
In terms of the roadmap, Bio Protocol will launch the DeSci AI agent in January, expand $BIO on the Solana chain, Base chain, $BIO/BioDAOs liquidity pools, initiate a long-term Covid laboratory, and announce new BIODAO announcements; and in February 2025, launch BIO Launchpad v1 and management mechanisms on EVM chains, and the BIO Launchpad v1 on Solana.
Overall, after listing on Binance, despite facing certain selling pressure and slight fluctuations in market sentiment in the short term, it is still expected that as a leading project in the decentralized science sector, it can achieve considerable value growth in the long term.
