📢 Exploring why the on-chain science incubator BIO Protocol has gained favor from Binance Labs?
Recently, Binance Labs announced an investment in the decentralized science (DeSci) related protocol BIO Protocol, marking the first investment by Binance Labs in the DeSci space. So, what exactly is BIO Protocol, and what distinguishes it to attract Binance Labs' investment?
BIO Protocol is known as the "Y Combinator of on-chain science," utilizing blockchain technology for scientific research and funding processes, characterized by transparency and decentralization. It provides support and resources for scientific research projects, making it easier to raise funds through blockchain technology, and allows global scientists, patients, and investors to participate and support research projects together.
BioDAO: A subDAO focused on specific scientific or medical research, raising funds through token sales to support and develop biotechnology projects.
Curatorial System: Employing a token staking mechanism, combining community voting with professional evaluation to select and support high-quality biotech projects.
Liquidity and IP Tokenization: Providing tokenization solutions for biotechnology IP, establishing a secondary market trading mechanism to achieve liquidity for investments in scientific research projects.
Incentive Mechanism: Designing a special acceleration reward mechanism to motivate early participants and contributors to promote the rapid development of the ecosystem.
Currently, BIO Protocol has officially announced some successful cases of DAOs, with certain DAOs also connecting with universities, research institutions, and pharmaceutical companies in the real world, successfully demonstrating the effectiveness of this model.
The native token of BIO Protocol is $BIO, deployed on Ethereum, allowing holders to participate in key decisions of the protocol, including supporting the bioDAO joining the BIO network, determining the terms of participation in bioDAO and its IP token sales, etc.
The Genesis launch program and airdrop strategy of BIO Protocol demonstrate the project's emphasis on fair distribution, community involvement, and long-term development.
Through multiple rounds of auctions and multi-layered airdrops, BIO is actively building a diverse and highly engaged community, laying a solid foundation for its decentralized biomedical research network.
