BIO Protocol, a decentralized platform for funding and commercializing biotechnology and scientific research, has launched its BIO token on major cryptocurrency exchanges, including Binance. Initially priced at $1.40 per token, BIO has plummeted and is currently trading at $0.70.

Despite price volatility, BIO Protocol has become the largest player in the $1 billion decentralized science (DeSci) market, surpassing competitors like OriginTrail and ResearchCoin.

Community Proposals for Expanding Solana

As part of its roadmap, BIO Protocol has initiated a community proposal to expand the BIO token ecosystem to the Solana blockchain.

The plan includes deploying the BIO token contract on Solana, creating cross-chain bridges, and allocating 1% of the ecological incentive fund to cross-chain liquidity pools. The move is expected to enhance liquidity and interoperability between networks.

BIO Protocol: Addressing Challenges in Science Funding

The BIO Protocol aims to address key pain points in traditional science funding, including time-consuming application processes, concentration of funding in specific regions, and barriers to commercialization of intellectual property (IP). Using decentralized technology, BIO enables global communities of patients, scientists, and investors to fund, build, and own tokenized biotech and IP projects.

Key solutions provided by BIO Protocol include:

  • Decentralized Funding: Allows individuals to invest in biotech initiatives.

  • Global Talent Pool: Enables researchers and investors globally to participate.

  • Shared IP Ownership: Provides shared ownership of encrypted scientific IP.

  • Liquidity Markets: Providing early liquidity for inherently illiquid biotech assets.

Token Distribution and Details

The BIO token is an ERC-20 token with a maximum supply of 3.32 billion tokens. Upon listing on Binance, approximately 39% of the token supply (1.296 billion tokens) were available for circulation. Notably, 3% of the total token supply (99.6 million tokens) were allocated to Binance Launchpool.

Fundraising Milestones

BIO Protocol has successfully raised capital through public and private fundraising rounds, including:

  • Private Rounds: Raised $0.9 million and $1.4 million in pre-seed and seed rounds.

  • Genesis Auctions Round: Raised $28 million across three public auction rounds, reaching a valuation of $219 million.

Upcoming developments

In 2025, BIO Protocol plans to launch its platform on Solana and other blockchain ecosystems while expanding its BioDAO suite and liquidity pool. This includes launching new initiatives such as Long COVID Labs and Curetopia.