Article reprinted from: Weilin
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 initiated three rounds of public fundraising from August 9 to November 14, raising $6.2 million, $18.2 million, and $3.5 million in total, with estimated token costs per round of $0.0256, $0.04277, and $0.06596. After BIO goes live on Binance, participants in the public fundraising, based on the first round BIO cost and the highest price after opening, theoretically have maximum returns of up to 58 times.
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 COVID treatment, and rare diseases. Will the DeSci track, favored by CZ and Vitalik Buterin, continue to bring growth space and imagination to the market?
BIO goes live on Binance, with public offering returns potentially reaching 58 times.
The rise of Bio cannot be separated from the support of Binance. As early as November 8 last year, Binance Labs announced an investment in the DeSci project BIO Protocol, marking its first foray into the decentralized science (DeSci) field. Less than a week after this announcement, CZ attended Binance's Desci Day event in Bangkok, discussing DeSci insights with Vitalik. On December 23, Binance Launchpool announced that it would launch the 63rd project, Bio Protocol (BIO).
The public fundraising of Bio Protocol provided many users with low-cost entry opportunities, and some auction tokens were directly released at TGE. However, due to the high initial circulation ratio, accounting for 39.05% of the total supply, coupled with 12.57% of early tokens unlocking at TGE, there were prior market predictions that BIO would face certain selling pressure after opening.
According to on-chain analyst Yu Jin, Arkham marked the address belonging to Sigil Fund CIO @Fiskantes (daddy fiskantes), xinanko.eth, which transferred 6.54 million BIO (approximately $4.77 million) to Binance shortly after open transfers. These BIO were obtained through public fundraising, with an average public offering price of about $0.04. Now that BIO is priced at $0.74, his yield is about 18 times (approximately $4.5 million).
Returning to the Bio Protocol itself, the total initial supply of BIO tokens is 3,320,000,000 BIO, with no maximum supply, and future increases may be decided through governance votes. The increase mechanism requires deploying a new token contract to replace the current BIO tokens.
Among them, community-related allocations account for 56%, with specific allocations as follows:
In terms of token distribution, the community (totaling 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 eligible. The snapshot date for the airdrop is April 1, 2024, and users can claim vBIO (locked BIO), which can be immediately exchanged for $BIO. $BIO tokens are non-transferable until governance voting unlocks them.
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 funding rounds and permissions for tokenized IP on the network.
Curatorial Management: The BioDAO chosen by BIO holders is launched through the BIO Launchpad and is supported by the network in terms of funding and liquidity.
Connecting BioDAO: BIO represents a basket of DeSci tokens as 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 owns.
With strong endorsement from Binance, can the DeSci narrative continue to drive growth?
As a 'selected' project by Binance, BIO garnered significant market attention before its launch. The team behind BIO is a pioneer in the DeSci field, having previously created Molecule (a tokenization platform focused on biomedicine) and VitaDAO (the world's largest decentralized community for longevity science).
BIO is also seen as the 'on-chain science version of Y Combinator', currently with 8 sub-DAOs. In the white paper, BIO is referred to as the incubator for DeSci, with the most famous sub-DAO being VitaDAO, which is funded by Ruihui Investment and focuses on longevity, along with others like HairDAO for hair loss and CerebrumDAO for dementia.
Bio enjoys ownership of the IP and patents produced by its sub-DAOs, and supporters of BIO believe that its narrative has a high ceiling.
On January 3, Arthur Hayes retweeted an article (Degen DeSci), pointing out that early BioDAOs like VitaDAO and CryoDAO will receive substantial rewards in BIO. For example, PsyDAO received 15.4 million BIO tokens, which is worth more than the market capitalization of the DAO itself (based on a pre-market price of $0.95 for BIO).
Currently, the 8 DAOs of BioDAO have undergone the first iteration of the BIO acceleration program, with a cumulative market value exceeding $300 million. The recently launched BioDAO Quantum Biology received 13 times oversubscription, raising over $6.8 million in initial funding.
In terms of the roadmap, Bio Protocol will launch DeSci AI agents in January, expand $BIO on the Solana chain, $BIO on the Base chain, $BIO/BioDAOs liquidity pools, initiate long-term coronavirus laboratories, and release new BIODAO announcements, etc.; and in February 2025, it will carry out BIO Launchpad v1 and governance mechanisms on EVM chains, and BIO Launchpad v1 on Solana.
Overall, after launching on Binance, despite facing certain selling pressure and slight fluctuations in market sentiment in the short term, as the leading project in the decentralized science sector, it is still expected to achieve significant value growth in the long term.
