The Launchpool Bio Protocol, referred to as BIO, is a significant development in the Decentralized Science (DeSci) sector, recently announced as the 63rd project on Binance Launchpool. Here are some key points about the Bio Protocol:
Platform and Purpose: BIO is a curation and liquidity protocol aimed at advancing Decentralized Science. It operates by allowing users to farm BIO tokens, thereby engaging in the funding and acceleration of scientific research through a decentralized model.
Farming Details: Users can farm BIO tokens by locking up BNB and FDUSD on the Binance platform. The farming event for BIO started on December 24, 2024, at 00:00 (UTC) and is set to last for 10 days. The total reward pool for this event is 99.6 million BIO tokens, which represents 3% of the total Genesis token supply.
Token Distribution: The distribution of BIO tokens is split between two pools - 85% to the BNB pool and 15% to the FDUSD pool. Daily distribution includes 9.96 million BIO tokens, with hourly caps to prevent undue concentration of tokens among large holders.
Listing and Trading: Following the farming period, BIO tokens are scheduled for listing on Binance on January 3, 2025, at 10:00 UTC. The token will be tradable against several pairs including USDT, $BNB , FDUSD, and TRY, with a Seed Tag applied to signify potential higher volatility.
Investment and Backing: Binance Labs has previously invested in Bio Protocol, making it one of the few DeSci projects with significant backing from a major crypto exchange. This backing positions BIO to potentially consolidate and expand the DeSci token ecosystem.
Ecological and Community Focus: Bio Protocol has allocated a significant portion of its tokens to community and ecosystem development, aiming to foster a network of decentralized autonomous organizations (DAOs) like AthenaDAO, CerebrumDAO, and others, which focus on various scientific areas.
Future Plans: The protocol aims to expand its token utility by launching on additional blockchains like Solana and Base, enhancing its reach and functionality in supporting biotech and scientific projects globally.
This initiative by Binance to introduce Bio Protocol on Launchpool underscores the growing interest in decentralized approaches to scientific funding and research, potentially paving the way for a broader adoption of blockchain in the scientific community.
Get $BNB to get BIO token