The world's largest cryptocurrency exchange, Binance, announced on the evening of the 23rd that it will launch the 63rd new coin mining project, BIO Protocol (BIO), on its Launchpool. As a result of this incentive, several DeSci-related tokens experienced a short-term surge.
The world's largest cryptocurrency exchange, Binance, announced on the evening of the 23rd at 18:00 that it will launch the 63rd new coin mining project, BIO Protocol (BIO), on its Launchpool. Users can start participating in the new coin mining activity by depositing BNB and FDUSD into the BIO mining pool starting at 8:00 Taiwan time on December 24, 2024, for a duration of ten days.
At the same time, after the new coin mining ends, Binance will also list BIO spot trading at 18:00 Taiwan time on January 3, 2025, and open trading pairs BIO/USDT, BIO/BNB, BIO/FDUSD, BIO/TRY, and add a seed label for it.
Detailed information on BIO mining pool.
According to Binance's announcement, detailed information on BIO new coin mining includes:
Token name: BIO (BIO Protocol)
Genesis token supply total: 3,320,000,000 BIO
Maximum token supply: 3,320,000,000 BIO (can be increased through network governance)
Launchpool total: 99,600,000 BIO (3% of the genesis token supply)
Initial circulating supply at the time of Binance listing: 1,296,529,168 BIO (39.5% of the genesis token supply)
Token contract network: Ethereum
Restriction clause: KYC required
Individual hourly mining cap: BNB pool: 35,275 BIO; FDUSD pool: 6,225 BIO
What is BIO Protocol?
BIO Protocol is a DeSci (Decentralized Science) project that aims to become the Y Combinator of on-chain science (the largest accelerator in Silicon Valley). The goal of BIO is to enable the global community of scientists, patients, and investors to collaboratively fund, develop, and own new drugs and therapies through its decentralized autonomous organization (BioDAO) network. The protocol's innovative approach addresses key gaps in traditional research funding, particularly in areas such as rare diseases, longevity science, and emerging health challenges.
It is worth mentioning that BIO Protocol is backed by a number of well-known crypto and biotech venture capital institutions, including 1kx, Boost VC, Sora Ventures, Zee Prime Capital, and the biotech fund Northpond Ventures, which exceeds $3 billion. Additionally, Binance also announced its investment in BIO Protocol in early November, which is seen as Binance's first foray into the DeSci field.
BIO Protocol roadmap and tokenomics.
While celebrating the launch of BIO Protocol on Binance, the official BIO Protocol Twitter account also announced its project roadmap and tokenomics, which includes:
1. Roadmap
BIO TGE will take place on January 3.
BIO will be launched on the Solana and Base chains.
BioDAO will release new projects.
BIO/BioDAO liquidity pool.
A new BIO Launchpad is about to go live.
2. Tokenomics
56% allocated to ecosystem and community.
25.4% allocated to early contributors.
18.6% allocated to early supporters.
DeSci-related tokens are surging together.
Due to the incentives from the listing of BIO Protocol on Binance Launchpool, several tokens in the DeSci field also saw significant short-term increases, such as three meme coins on the Solana blockchain:
RIF: short-term increase of 15.4%, writing at $0.05178.
URO: short-term increase of 14.8%, writing at $0.0456.
DRUGS: skyrocketed by 153.9%, writing at $0.03841.
In addition, according to CoinGecko data, the current total market value of the DeSci field is approximately $1.08 billion, with an 8.5% increase in the past 24 hours. Popular trading tokens include VitaDAO, ResearchCoin, URO, and others.
Image source: CoinGecko
BNB breaks $690.
In addition, Binance's platform token BNB also saw an increase after the announcement, and continued to rise after a slight rebound in Bitcoin, reaching $691 at the time of writing, with a 24-hour increase of 7.2%.
