BIO Protocol is a protocol that reforms early-stage research project financing through blockchain technology.
Currently, the project's token presale has raised $11 million, and the author will introduce you to this leading project in the decentralized science (DeSci) track.
Introduction to the BIO Protocol project
Decentralized Science (DeSci) is an evolving field aimed at helping solve underfunded medical issues and returning science to the people.
The BIO Protocol in the DeSci track is dedicated to enabling a global community of scientists, patients, and investors to collaboratively fund, develop, and own new drugs and therapies through its Biotech decentralized autonomous organization (BioDAO) network.
BIO Protocol's innovative approach addresses key gaps in traditional research financing, particularly in emerging health challenges such as rare diseases, longevity science, hair loss, and long-term COVID symptoms.
About Binance Labs
Binance Labs is the leading venture capital firm under the cryptocurrency exchange Binance, dedicated to empowering early-stage projects and promoting the growth and development of the Web3 ecosystem.
Since its establishment in 2018, Binance Labs has always focused on long-term development, providing strategic support and funding to projects regardless of market cycles.
Investors in the BIO Protocol project
Currently, the only investor in this project is Binance Labs.
Binance Labs' latest investment will facilitate the expansion of the BioDAO ecosystem, providing seed funding for new BioDAOs and strengthening the network of service providers that empower communities and token economies. This will help realize BIO's vision of creating autonomous infrastructure for scientific financing and acceleration driven by advancements in artificial intelligence (AI), drug design, and open-source computational biology.
Andy Chang, Investment Director at Binance Labs, said:
"BIO Protocol represents a significant advancement in DeSci, successfully merging biotechnology with DeFi. At Binance Labs, we are committed to unleashing breakthrough progress by supporting projects that build meaningful technologies, thus driving long-term impact on the real world. This approach is closely aligned with our investment in BIO Protocol.
Paul Kohlhaas, founder of BIO Protocol, pointed out:
"Science drives human progress, but we confine the best minds in an endless maze of fundraising—they spend 80% of their time writing grant applications instead of solving humanity's greatest challenges. The support from Binance Labs will help put an end to this broken system.
As the undisputed leader in global liquidity, Binance Labs will help us unlock scientific breakthroughs from Boston, USA, to Singapore and Bangalore, India, to drive patient-centered research at previously unattainable scales. This is not just innovation; it is a revolution in scientific financing.
Funding situation of the BIO Protocol project
According to reports, the second round of community token financing for BIO Protocol has raised $11.14 million, targeting $16.2 million.
Currently, participating investors can begin claiming BIO tokens after the second round of community token financing ends, with 50% available immediately and the remaining 50% unlocking linearly over one year (referred to as vBIO). BIO Protocol announced on August 20 that it completed the first round of Genesis auction financing with $6.22 million, exceeding the original target of about $5 million.
Highlights of the BIO Protocol project
The decentralized structure of BIO Protocol makes financing in the health sciences more community-oriented and transparent. Stakeholders can provide funding and vote on the direction of projects within BioDAOs, thus creating a collaborative ecosystem for healthcare development. "Andy Chang, Investment Director of Binance Labs, pointed out: "BIO Protocol combines biotechnology with DeFi, representing an important step forward for DeSci.
Finally
Binance Labs' portfolio includes over 250 projects in fields such as decentralized finance (DeFi), gaming, artificial intelligence, and health sciences. Through its partnership with BIO Protocol, Binance Labs aims to harness the potential of decentralized science to create impactful long-term advancements in healthcare.
As the DeSci field develops, BIO Protocol's approach may become a model for other industries lacking traditional financing methods, paving the way for a new wave of innovation driven by blockchain technology.
