Bio Protocol – one of the standout names of 2024, has not only been invested in by Binance Labs but has also officially become the 63rd project on Binance Launchpool. Today, let’s explore Bio Protocol and see what makes this project worthy of being on Launchpool.
What is Bio Protocol (BIO)?
Bio Protocol is a decentralized science (DeSci) management and liquidity protocol. Its mission is to advance biotechnology by empowering global communities of patients, scientists, and biotechnology experts to collectively fund, build, and own tokenized biotechnology projects and intellectual property (IP).
The team behind Bio Protocol previously contributed to the creation of Molecule, a platform for early-stage biomedical tokenization, and VitaDAO, the largest decentralized community for longevity science. Building on these successes, Bio Protocol is designed to advance the on-chain science economy through decentralized funding, incentives, and liquidity.
BIO is the token that enables holders to access BIO’s scientific community and IP network, providing broad access to the DeSci economy.
BIO Protocol
BIO Protocol is a new financial layer for decentralized science aimed at accelerating the flow of capital and talent into on-chain science.
This protocol is designed to drive the blockchain economy of scientific communities (bioDAOs) and create efficient, liquid markets for scientific IP developed by bioDAOs.
Protocol Goals
Manage, create, and accelerate new bioDAOs that fund on-chain science.
Provide continuous funding and liquidity for bioDAOs and on-chain biotech assets.
Standardize bioDAO frameworks, tokenomics, and datasets/products.
Create and commercialize scientific data and intellectual property.
Core Activities
To achieve these goals, BIO Protocol focuses on five core activities:
1) Curation (BIO Staking)
BIO token holders participate in curating which new bioDAOs join the ecosystem, allowing for a bottom-up approach to funding science.
Selected bioDAOs receive funding, are added to the treasury, and are supported by the BIO Protocol. To ensure high-quality bioDAOs, participants are required to lock their BIO tokens, ensuring long-term commitment to the network.
Using vBIO (locked BIO), holders can pledge their support for a new DAO candidate presented to BIO Protocol by "Operators."
BIO holders use vBIO tokens to back bioDAOs they want to approve. If the supported DAO is voted in, stakers gain access to whitelist funding rounds and privileged access to the DAO’s products, data, or services.
2) Funding
If a candidate bioDAO is accepted into the BIO network, all vBIO stakers who backed that bioDAO can participate in an initial private auction—a pre-seed round included on the whitelist.
Through BIO, users can support groundbreaking science from day one, with terms equal to or better than venture capitalists or other institutions. For bioDAOs, this creates an opportunity to align with a pre-established, high-value scientific community as network participants for that specific research area.
3) Liquidity
BioDAOs should focus on science, not liquidity management. BIO addresses this by managing liquidity positions on secondary bioDAO markets.
The BIO Protocol can support on-chain liquidity for the BIO network by using BIO tokens and other assets held in its treasury.
BIO tokens can be paired in liquidity pools with bioDAO tokens (e.g., VITA/BIO, HAIR/BIO), as well as other assets (e.g., BIO/ETH), enabling low-cost swaps within the network, fee accumulation, and protocol-owned liquidity (POL).
4) Bio/acc Rewards
The BIO Protocol can issue BIO tokens as rewards (“bio/acc rewards”) to incentivize bioDAOs to achieve milestones designed to enhance network value (Assets Under Management, AUM).
BIO holders can use bio/acc rewards to incentivize milestones such as funding a specific value of on-chain science, maintaining certain token liquidity levels, developing IP to reach clinical trials, or generating sales from consumer products/services.
5) Meta-Governance
The BIO Protocol will hold various bioDAO tokens in its treasury, allowing it to act as a meta-governance layer, empowering BIO holders to oversee multiple bioDAOs and scientific intellectual property assets.
BIO Protocol Products
BIO Protocol offers two main products: BioDAO and Launchpad.
BioDAO: Represents the aggregation of biotech organizations supported by BIO Protocol.
Launchpad: Allows biotech organizations to issue their tokens and sell them to the community without requiring BioDAO voting approval.
BIO Token
The BIO token can be used for the following purposes:
Curating bioDAOs for participation in BIO Protocol programs.
Priority access to bioDAO token sales and IP token sales.
Discounts on health products/services provided by bioDAOs.
Meta-governance within bioDAOs.
Voting on BIO emissions, treasury allocation, and protocol updates.
Key Metrics
Token Name: BIO
Symbol: BIO
Type: Utility
Blockchain: Ethereum
Contract: 0xcb1592591996765Ec0eFc1f92599A19767ee5ffA
Total Supply: 3,320,000,000 BIO
Token Allocation
Ecosystem Development Fund: 25%
Core Contributors: 21.2%
Community Auction: 20%
Investors: 13.6%
Community Airdrop: 6%
Molecule Ecosystem Fund: 5%
Molecule: 5%
Advisors: 4.2%
BIO Protocol Network
BIO Protocol is being developed on an expanding network of biotech DAOs (bioDAOs), innovative IP tools owned by communities, and a focus on specific scientific fields.
