PANews November 6 news, Binance Labs announced an investment in BIO Protocol (BIO) to accelerate funding innovation in decentralized science (DeSci). BIO Protocol reshapes the financing and commercialization of early scientific research through blockchain technology, providing a global community for scientists, patients, and investors to collectively fund, develop, and jointly own new drugs and therapies. This round of financing will be used to expand the BioDAO ecosystem, provide seed funding for new BioDAOs, and strengthen community and token economic support. The model of BIO Protocol is similar to 'Y Combinator for on-chain science,' with its BioDAO network covering various fields including rare diseases, longevity research, and mental health, aiming to address critical gaps in traditional research funding. BIO currently has seven BioDAOs, and the next batch of projects will focus on developing therapies for long-term COVID and rare diseases, as well as research on quantum microscopy.
BIO Protocol is currently conducting the second round of the BIO Genesis activity, providing users with an early opportunity to access $BIO tokens until the tokens are transferable. Users can exchange $BIO for ETH or DeSci tokens. BIO is committed to building an on-chain science community (BioDAOs) through DeFi mechanisms and real intellectual property (IP).