Bio Protocol – one of the prominent names of 2024, the project is not only invested by Binance Labs but also officially becomes the 63rd project on Binance Launchpool. Today, let's learn about Bio Protocol, see what this project has to be on Launchpool.

Bio Protocol (BIO) is there already?

Bio Protocol is a governance and liquidity protocol for Decentralized Science (DeSci). Bio Protocol's mission is to advance biotechnology by empowering global communities of patients, scientists, and biotech professionals to collectively fund, build, and own tokenized biotech projects and intellectual property (IP).

The team behind Bio Protocol helped create Molecule, a cryptographic platform for early-stage biomedicine, and VitaDAO, the largest decentralized community for longevity science. Building on these successes, Bio Protocol is designed to fuel the onchain science economy through decentralized funding, incentives, and liquidity.

BIO is a token that gives holders access to BIO's scientific community network and IP, allowing broad access to the DeSci economy.

BIO Protocol

BIO Protocol is a new financial layer for decentralized science that aims to accelerate the flow of capital and talent into onchain science.

This protocol is designed to foster the blockchain economy of scientific communities (bioDAOs) and create efficient, liquid, deep markets for scientific IP developed by bioDAOs.

Goal of the protocol

  • Manage, create and accelerate new bioDAOs funding science onchain.

  • Continuous funding and liquidity for bioDAOs and onchain biotech assets.

  • Standardize bioDAO frameworks, tokenomics, and datasets/products.

  • Generate and commercialize scientific data and intellectual property.

Core activities

To achieve these goals, the BIO protocol has 5 core operations:

  • Curation

  • Funding

  • Liquidity

  • Bio/acc Rewards

  • Meta-Governance

Let's go into each activity in detail:

1) Curation (BIO Staking)

BIO token holders participate in governing which new BioDAOs join the ecosystem, enabling a bottom-up approach to funding science. Community-selected BioDAOs are then funded, added to the treasury, and ultimately backed by the BIO protocol. Since the BIO Protocol relies on high-quality BioDAOs, governance requires BIO to be locked in order to participate, ensuring that participants stay with the network for the long term.

Using vBIO (locked BIO), BIO holders will have the ability to pledge their faith in a new DAO candidate submitted to the BIO Protocol by “Operators”.

BIO holders use vBIO tokens to collateralize the BioDAOs they want to adopt, and if a DAO they have collateralized is voted through, stakers will gain access to whitelisted funding rounds and privileged access to the DAO's products, data, or services.

2) Funding

If a BioDAO candidate is accepted into the BIO network, all vBIO stakers who have committed to that BioDAO will be able to participate in the initial private auction – a whitelisted pre-seed round.

Through BIOs, users can support groundbreaking science from day one, on terms that are on par or better than VCs or other institutions. For BioDAOs, this creates an opportunity to engage a pre-established, highly valuable scientific community to become network participants for that particular research area.

3) Liquidity

BioDAO should focus on science, not liquidity management. BIO alleviates this problem by managing liquidity positions on the bioDAO secondary market.

The BIO protocol can support on-chain liquidity for the BIO network using the BIO token and other tokens held in the BIO treasury.

BIO tokens can be paired in liquidity pools with BioDAO tokens (e.g. VITA/BIO, HAIR/BIO), as well as with other assets (e.g. BIO/ETH) to facilitate low-cost transfers within the network, fee accumulation, and build protocol-owned liquidity (POL).

4) Bio/acc Rewards

The BIO protocol may issue rewards in the form of BIO tokens (“bio/acc rewards”) to incentivize bioDAOs to achieve milestones designed to increase network value (AUM).

BIO holders can choose to use bio/acc rewards to incentivize bioDAO milestones such as funding a certain value of on-chain science, maintaining a certain level of token liquidity, developing IP to reach clinical trials, or generating sales from consumer products/services.

5) Meta-Governance

The BIO protocol will hold multiple BioDAO tokens in its treasury and thus can act as a super governance layer empowering BIO holders to manage a variety of BioDAO and scientific intellectual property.

Products of BIO protocol

The BIO protocol has two main products, BioDAO and Launchpad.

BioDAO is a collective of biotech organizations that BIO Protocol supports. While Launchpad is for biotech organizations to issue their own tokens and sell them to the community, without having to apply and wait for voting from BioDAO.

BIO token

BIO tokens can be used for the following purposes:

  • BioDAO Selection to Participate in BIO Protocol Programs

  • Priority access to BioDAO token sales and IP token sales

  • Discounts on BioDAO health products/services

  • Super governance in BioDAO

  • Voting on BIO emissions, fund allocation and protocol updates

Key metrics

  • Token Name: BIO

  • Code: BIO

  • Type: Utility

  • Blockchain: Ethereum

  • Contract: 0xcb1592591996765Ec0eFc1f92599A19767ee5ffA

  • Total Supply: 3,320,000,000 BIO

Token Allocation

  • Ecosystem Development Incentive Fund: 25%

  • Core Contributors: 21.2%

  • Community Auction: 20%

  • Investor: 13.6%

  • Community Airdrop: 6%

  • Molecule Ecosystem Fund: 5%

  • Molecule: 5%

  • Advisor: 4.2%

Binance Launchpool Announces 63rd Project – Bio Protocol (BIO)

Cryptocurrency exchange Binance will be the first to list BIO. In its latest announcement, Binance said “We are announcing the 63rd project on Binance Launchpool – Bio Protocol (BIO), a governance and liquidity protocol for Decentralized Science (DeSci).”

Users stake their BNB and FDUSD to receive BIO airdrops for 10 days, with farming starting from 07:00 December 24, 2024 to 06:59 January 3, 2025 (UTC).

Binance will then list BIO at: 17:00, January 3, 2025 (UTC).

Trading pairs: BIO/USDT, BIO/BNB, BIO/FDUSD and BIO/TRY.

BIO Launchpool Details on Binance:

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BIO Protocol Network

The BIO Protocol is being built on top of a growing network of biotech DAOs (bioDAOs), community-owned IP creation tools focused on a specific scientific area.

Investment fund

The BIO ecosystem is receiving a lot of support from investment funds and leading crypto companies today.

Development Team

Roadmap

Updating...

Adviser

Conclude

All the above information is what you need to know about Bio Protocol (BIO). Hopefully this basic information will help you have a more general view of the project.

Please note that this article should only be considered as reference information and should never be considered as an investment recommendation.