Founders
Paul Kohlhaas, a veteran in the crypto space, has been deeply engaged in the DeScii field. The companies Molecule and VitaDAO mentioned later are all his.
Investors
Binance Labs, Zee Prime Capital, Kosmos Ventures, Panga Capital, etc. Pfizer Ventures and Balaji Srinivasan supported one of the BIO Protocol's research institutes, VitaDAO.
Operating Model
The model of the BIO Protocol can be simply described as issuing the research institute token BIO within the BIO Protocol (similar to the Chinese Academy of Sciences). Users can stake BIO to gain governance rights and then vote to decide whether the applying research institutes (like the Institute of Physics at the Chinese Academy of Sciences) can be established. These research institutes focus on specific areas of research; for example, VitaDAO focuses on funding early clinical drug development in the context of longevity, issuing its own research institute token VITA. Users stake VITA to gain governance rights and vote on whether to inject startup funding (in fiat currency) into an applying project. Once funding is injected, VitaDAO will hold the intellectual property of the supported projects directly in the form of IP-NFTs (IP-NFTs utilize the biopharmaceutical intellectual property NFT framework developed by Molecule). VitaDAO will also tokenize NFTs into IPTs for ease of trading. Users purchasing IPTs can gain shares in the intellectual property of the project outcomes, but there are no guarantees of returns.
Token Empowerment
The BIO token of the BIO Protocol has multiple empowering features. First, BIO token holders can participate in the governance and decision-making process of the BioDAO, voting on the issuance of BIO, fund allocation, and protocol updates. Second, BIO token holders can have priority participation in the research institute token sales and IPT token sales, as well as enjoy discounts on BioDAO health products/services. Additionally, BIO tokens can be used to select research institutes applying to join the BIO protocol program and to fund specific research IP assets.
Project Revenue and Assets
The revenue of the BIO Protocol mainly comes from the sales and licensing of IP, as well as revenue from consumer health products. This revenue flows back into the network to power the next generation of biomedical research and development. The assets of the BIO Protocol include the BIO tokens it holds, IP-NFTs, and partnerships with other DeSci projects.
Token Distribution
The total supply of the BIO Protocol's tokens is 3.32 billion.
Team and Advisors: 10%-20%
Community Building: 5%-10%
Partners: 5%-15%
Investors and the Public: 20%-30%
Liquidity Provision: 5%-10%
Reserves and Lockup: 10%-20%
Summary: The BIO Protocol is specialized in biological research, providing standardized and peer-reviewed experimental protocols, while its decentralized fundraising and reward mechanisms are also innovative for biological research. However, for ordinary investors: 1. The BIO token does not provide simple and direct profit empowerment, whether through DAO governance or priority token purchases, etc. 2. From the perspective of project development, its profit prospects are unclear because: 1. Research projects do not necessarily yield results; 2. Even if there are results, they do not necessarily have commercial value; 3. There are many fraudulent projects in schools and research institutions; although the BIO Protocol has set up expert reviews and milestone systems (next funding is only available after reaching a significant outcome), this does not reduce the potential for fraud. 3. From the market capitalization perspective, the current off-market price of BIO has reached $0.9, with a total market capitalization of nearly $3 billion. This is quite expensive for a startup project without clear profit prospects. Therefore, if the market capitalization reaches tens of billions of dollars after the BIO listing, I believe the cost-performance ratio of participation is not high, but the risk of being trapped is quite high.
