Project Overview

On December 23, 2024, Binance announced its 63rd Launchpool project—BIO Protocol (BIO), a groundbreaking decentralized science (DeSci) initiative aimed at advancing scientific research, particularly in the fields of biomedicine and life sciences, using blockchain technology. BIO Protocol's mission is to support and accelerate scientific innovation through decentralized governance and blockchain, operating similarly to a blockchain-based Y Combinator focused on funding, supporting, and incubating scientific projects.

Core Features of BIO Protocol

BIO Protocol operates at the intersection of blockchain and science, providing a platform to fund and support research in biomedicine. The core components of the project include:

  • BioDAO: A decentralized autonomous organization (DAO) that raises funds through token sales. BioDAO allocates these funds to biotech projects aligned with its mission while creating shared ownership of intellectual property (IP) among its community members.

  • Curation System: A decentralized mechanism for vetting and curating scientific projects and research proposals to ensure only high-quality initiatives are funded.

  • Intellectual Property and Liquidity: BIO Protocol enables the tokenization of intellectual property, bringing liquidity to research projects and facilitating the monetization and trading of IP on the blockchain.

  • Incentive Mechanism: BIO Protocol integrates multiple rounds of auctions and airdrop campaigns to incentivize community participation and foster a diverse, engaged ecosystem.

These components together build a dynamic, participatory community, laying the foundation for a decentralized biomedical research network.

Key Achievements and DAO Ecosystem

As of now, BIO Protocol has launched 7 sub-DAOs, with 3 more under development. The initiative has raised a total of $23.5 million, with $7.2 million allocated directly to research and development. Below are the primary sub-DAOs and their areas of focus:

  • $VITA (VitaDAO): Focused on funding early-stage longevity research and has received investment from Pfizer.

  • $ATH (AthenaDAO): Dedicated to women's reproductive health research and drug discovery.

  • $GROW (ValleyDAO): Decentralized governance platform for anti-aging drugs and longevity-related projects.

  • $PSY (PsyDAO): Specializes in psychedelic science, having raised $2 million during its token sale.

  • $HAIR (HairDAO): Focused on hair loss treatments, including its chemical-free FolliCool shampoo.

  • $CRYO (CryoDAO): Dedicated to cryopreservation research with potential applications in organ preservation.

  • $NEURON (CerebrumDAO): Focused on brain health, having raised over $1.5 million for neuroscience research.

These sub-DAOs exemplify BIO Protocol's decentralized approach to advancing scientific research across diverse biomedical sectors.

Pump.Science: Solana-Sponsored DeSci Platform

A related platform is Pump.science, supported by the Solana Foundation, aiming to fund and support decentralized scientific research. Pump.science currently hosts two key experimental studies:

  • Rifampicin (RIF): A well-known antibiotic that activates cellular defense mechanisms in organisms like C. elegans.

  • Urolithin A (URO): A compound produced by the body after consuming polyphenol-rich foods, which has potential benefits for muscle health and energy levels.

These studies represent the growing trend of DeSci projects leveraging blockchain technology to fund high-risk, early-stage scientific research.

Other Notable DeSci Initiatives

$RSC (ResearchHub): A platform founded by Coinbase co-founder Fred Ehrsam, designed to incentivize the publication of high-quality scientific content.

$DRUGS: Known as the "a16z" of DeSci, this investment fund manages DeSci token positions, focusing on decentralized scientific and medical innovations.

BIO Protocol Tokenomics

Tokenomics is at the core of BIO Protocol's decentralized operation. The supply, distribution, and unlocking schedule of the BIO token will play a critical role in shaping the platform's ecosystem. Key features of the BIO tokenomics include:

1. Total Supply: An initial total supply of 3,320,000,000 $BIO tokens, with no cap on the maximum supply. Future token issuance may be determined by governance votes.

2. Distribution Structure:

  • Community (56%): Including community airdrops (6%), community auctions (20%), ecosystem incentives (25%), Molecule ecosystem fund (5%).

  • Core Contributors (21.2%): 703,840,000 $BIO.

  • Investors (13.6%): 451,520,000 $BIO.

  • Molecule (5%): 166,000,000 $BIO.

  • Advisors (4.2%): 139,440,000 $BIO.

3. Unlock Schedule:

  • Tokens will be unlocked according to different schedules to maintain ecosystem stability.

  • Community airdrop has no lock-up period.

  • BioDAO and Genesis members’ tokens will have a 1-year cliff, followed by 6 years of linear unlocking.

  • Community auction tokens will be 50% available immediately, with the remaining 50% unlocked over 1 year.

  • Core contributors, Molecule ecosystem fund, and advisors’ tokens will have lock-up periods ranging from 1 to 4 years.

Conclusion

BIO Protocol is offering an innovative new way of funding and commercializing biomedical research through decentralization. Its unique DAO ecosystem and collaboration with platforms like Pump.science highlight the potential of decentralized finance (DeFi) principles applied to research and development. As the DeSci space matures, BIO Protocol’s success could serve as a blueprint for future decentralized platforms, helping scientists and innovators access the resources needed to solve global challenges in health, medicine, and beyond.