Bio Protocol (BIO) emerges as a strong candidate in the crypto space of 2024, attracting significant attention not only from the community but also from large investment funds, notably Binance Labs.
The selection of BIO as project number 63 on Binance Launchpool further reinforces the potential of this project. This article will deeply analyze Bio Protocol, particularly clarifying the key factors that help the project achieve a strategic position on Binance's Launchpool.
What is Bio Protocol (BIO)
Bio Protocol (BIO) is the pioneering governance and liquidity protocol for DeSci (Decentralized Science), designed to revolutionize biotechnology.
An experienced team behind successful projects like Molecule and VitaDAO has developed BIO to empower patient communities, scientists, and biotechnology experts to collaboratively fund, build, and own encoded biotechnology IP.
BIO token opens the door to the exclusive scientific and IP network of the protocol, allowing holders to deeply engage in the rapidly growing DeSci economy.
Binance Launchpool announces project number 63 – Bio Protocol (BIO)
Binance confirms listing Bio Protocol (BIO), the governance and liquidity protocol for DeSci, becoming project number 63 on Binance Launchpool. Users can stake BNB and TUSD to farm BIO from 7:00 AM on December 24, 2024, to 6:59 AM on January 3, 2025 (UTC+7). BIO will officially trade on Binance at 5:00 PM on January 3, 2025 (UTC+7) with BIO/USDT, BIO/BNB, BIO/TUSD, and BIO/TRY pairs. See details about Launchpool at [detailed link].
Highlights of Bio Protocol (BIO)
The most notable aspect of Bio Protocol is perhaps the wavefront project that everyone should keep an eye on since the former CEO and founder of Binance, CZ, mentioned the DeSci sector and expressed interest in investing in Biotech. Bio Protocol is the first biotech project invested in by Binance Labs after CZ's statement. It is also the first biotech project to appear on Binance Launchpool.
Additionally, let’s explore a bit about the earning mechanism if you invest in BIO – Bio Protocol. BIO token holders participate in selecting bioDAOs through staking, receiving benefits such as participation in early funding rounds or access to bioDAO products and data. When a bioDAO is accepted, the BIO Protocol provides funding, supports liquidity, and manages funds by pairing BIO tokens with the bioDAO's tokens in liquidity pools. The system also implements BIO rewards to incentivize bioDAOs to achieve key milestones such as creating IP, clinical trials, or developing consumer products.
BIO Protocol accumulates value through strategic investments, including holding 6.9% of the token supply of each bioDAO in the BIO Treasury, along with fees and profits from on-chain liquidity. The BIO token serves not only meta-governance but also provides priority access to bioDAO products and services, as well as important financial incentives and voting rights throughout the ecosystem.
Some notable projects in the BIO ecosystem:
VitaDAO: Longevity research.
AthenaDAO: Women's health research.
PsyDAO: Research on science and art in the field of psychiatry.
ValleyDAO: Researching planetary rescue solutions through biotechnology.
HairDAO: Addressing hair loss.
CryoDAO: Research in the field of cryopreservation.
CerebrumDAO: Enhancing brain health and preventing neurodegeneration.
Curetopia: Researching treatments for rare diseases.
Long Covid Labs: Healing long covid syndrome.
Quantum Biology DAO: Researching electron microscopy for biology.
BIO Protocol
BIO Protocol is a new financial layer for decentralized science aimed at accelerating the flow of capital and talent into on-chain science.
This protocol is designed to drive the blockchain economy of scientific communities (bioDAOs) and create an efficient, liquid market for scientific IP developed by bioDAOs.
Goals of the protocol
Managing, creating, and accelerating new bioDAOs funding on-chain science.
Continuous funding and liquidity for bioDAOs and on-chain biotechnology assets.
Standardizing bioDAO frameworks, tokenomics, and datasets/products.
Creating and commercializing scientific data and intellectual property.
Core Activities
To achieve these goals, the BIO protocol has 5 core activities:
Curation
Funding
Liquidity
Bio/acc Rewards
Meta-Governance
We will delve into each activity:
1) Curation (BIO Staking).
BIO token holders participate in managing which new BioDAOs enter the ecosystem, allowing bottom-up access to fund science. Community-selected BioDAOs are then funded, added to the treasury, and ultimately supported by the BIO protocol. Since the BIO Protocol relies on high-quality BioDAOs, governance requires locked BIO to participate, ensuring that participants will remain long-term in the network.
By using vBIO (locked BIO), BIO holders will be able to commit their trust in a new DAO candidate submitted to the BIO Protocol by "Operators".
BIO holders use vBIO tokens to collateralize the BioDAOs they wish to accept, and if a DAO they have collateralized is voted through, the stakers will have access to whitelisted funding rounds and privileged access to the DAO's products, data, or services.
2) Funding
If a BioDAO candidate is accepted into the BIO network, all vBIO stakers committed to that BioDAO will have the opportunity to participate in the initial private auction – a pre-seed round added to the whitelist.
Through BIO, users can support breakthrough science from day one, with terms on par or better than VC or other institutions. For BioDAOs, this creates an opportunity to link a high-value scientific community that has been established early to become network participants for that specific research field.
3) Liquidity
BioDAO should focus on science, not liquidity management. BIO mitigates this issue by managing liquidity positions in the secondary bioDAO market.
The BIO protocol can support on-chain liquidity for the BIO network by using BIO tokens and other tokens held in the BIO treasury.
BIO tokens can be paired in liquidity pools with BioDAO tokens (e.g., VITA/BIO, HAIR/BIO), as well as with other assets (e.g., BIO/ETH) to facilitate low-cost conversion in the network, accumulate fees, and build protocol-owned liquidity (POL).
4) Bio/acc Rewards
The BIO protocol can issue rewards in the form of BIO tokens ("bio/acc rewards") to incentivize bioDAOs to achieve significant milestones designed to increase network value (AUM).
BIO holders can choose to use bio/acc rewards to incentivize bioDAO milestones, such as funding a certain value of science on-chain, maintaining a certain level of token liquidity, advancing IP to clinical trials, or generating sales from consumer products/services.
5) Meta-Governance
The BIO protocol will hold multiple BioDAO tokens in its treasury and thus can act as a super governance layer empowering BIO holders to manage various types of BioDAOs and scientific intellectual property.
Products of the BIO protocol
The BIO protocol has two main products: BioDAO and Launchpad.
BioDAO is a composite of biomedical technology organizations supported by BIO Protocol. While the Launchpad is for biomedical organizations that can issue their own tokens and sell them to the community without having to apply and wait for voting from BioDAO.
BIO token
BIO tokens can be used for the following purposes:
Selecting BioDAOs to participate in BIO protocol programs
Priority access to BioDAO token sales and IP token sales
Discounts on BioDAO health products/services
Super governance in BioDAO
Voting on BIO emissions, fund allocation, and protocol updates
Key metrics
Token name: BIO
Code: BIO
Type: Utility
Blockchain: Ethereum
Contract: 0xcb1592591996765Ec0eFc1f92599A19767ee5ffA
Total supply: 3,320,000,000 BIO
Token distribution
Ecosystem development fund: 25%
Core contributors: 21.2%
Community Auction: 20%
Investor: 13.6%
Community Airdrop: 6%
Molecule's Ecosystem Fund: 5%
Molecule: 5%
Advisors: 4.2%
What are your insights about project number 63 on Binance Launchpool – Bio Protocol (BIO), please let us know your opinions and let’s discuss whether we should pay attention to and invest in this project.
