DeSci is gradually attracting the community, especially after Vitalik talked about this area at the recent DevCon event. From here, BIO Protocol also received the attention of users.
BIO Protocol there already?
BIO Protocol is a DeSci project that applies blockchain technology to finance biomedical technology-related research. The goal of BIO Protocol is to help researchers easily raise capital to promote the development of the biomedical technology industry.
BIO Protocol has supported fundraising for famous biomedical DAOs such as HairDAO - focusing on hair treatments, AthenaDAO - specializing in research on women's diseases...
BIO Protocol Products and Operating Model
Currently, BIO Protocol has two main products/components to help biomedical researchers get financial support, which are BioDAO and Launchpad. Of which:
BioDAO
BioDAO is a composite component of biomedical technology organizations supported by BIO Protocol. Accordingly, the process of participating in BioDAO is as follows:
First, biomedical engineering organizations that want to raise capital from the BIO Protocol need to apply.
Users then stake BIO tokens and receive veBIO tokens in return. While holding veBIO, users can vote for suitable organizations to receive funding.If a biomedical organization successfully joins BioDAO, BIO Protocol will open a token sale round for this organization. For example, VitaDAO once joined BIO Protocol and raised funds through VITA tokens.
For those who successfully vote for the organization of their choice, they will receive a whitelist to participate in the token sale round and BIO token rewards. In addition, the BIO Protocol team will also purchase 6.9% of the total token supply, to promote product development activities from the organization.
Overall, BIO Protocol's fundraising model is not very outstanding, combining the ve(3,3) model and the regular token sale. However, compared to the complicated and lengthy traditional fundraising process, this model simplifies the procedure, helping developers quickly get initial funding to deploy research.
Additionally, BIO Protocol also issues IP-NFTs to biomedical institutions, representing ownership of research. At the same time, IP-NFTs also give holders access to research data storage on the blockchain.
Launchpad
Unlike BioDAO, Launchpad is a product for biomedical organizations to issue their own tokens and sell them to the community, without having to apply and wait for voting from BioDAO. Launchpad is a feature that helps biomedical organizations raise capital through token issuance.
BIO Protocol’s Launchpad model follows the Batch Auction approach. Users select the number of tokens and choose a purchase price. At the end of the auction, the tokens are distributed from the highest bidders to the lowest bidders.
In general, the Launchpad model helps biomedical organizations raise capital quickly. However, usually, the businesses raising capital here are not as trustworthy as the organizations on BioDAO. Because they can use the raised money for other purposes than research.
What is BIO Token?
Token BIO Key Metric
Token Name: BIO
Ticker: BIO
Blockchain: Ethereum
Contract: 0xcb1592591996765Ec0eFc1f92599A19767ee5ffA
Token type: Utility, Governance
Total Supply: 3,320,000,000 BIO
BIO Token Allocation Ratio
Ecosystem Incentive: 25%
Core Contributor: 21.2%
Community Auction: 20%
Investor: 13.6%
Community Airdrop: 6%
Molecule Ecosystem Fund: 5%
Molecule: 5%
Advisors: 4.2%
BIO Token Unlock Schedule
Here is the BIO token unlock schedule:
Ecosystem Incentive: 100% unlocked at TGE.
Core contributor: Lock for 1 year, then unlock gradually over 6 years.
Community Auction: 50% at TGE, the rest unlocked over 1 year.
Investor: Lock for 1 year, then gradually unlock over 4 years.
Community Airdrop: Lock for 1 year, then unlock gradually over 6 years.
Molecule Ecosystem Fund: Unlocked over 4 years.
Molecule: Unlocks gradually over 4 years.
Advisor: Lock for 1 year, then gradually unlock over 6 years.
Token BIO Sale
On December 24, 2024, Binance Launchpool announced that it will list the BIO token. Accordingly, users can stake BNB and FDUSD to receive BIO tokens. Details of the BIO farming time are as follows:
Staking period starts from 7:00 on December 24, 2024 - 6:59 on January 3, 2025 (VN time).
Allocation ratio per pool:
BNB pool: 84,660,000 BIO
FDUSD pool: 14,940,000 BIO
BIO Protocol Project Team, Investors and Partners
The team behind BIO Protocol is made up of people with years of experience in the fields of biology and blockchain. They include:
Paul Kohlhaas: Founder at BIO Protocol. He also founded many famous startups such as ixo Foundation, VitaDAO, Molecule AG...
Clemens O: CPO at BIO Protocol. He was also Co-Founder at MTX Studio - a company specializing in Web3 game development, Head of Product at Molecule...
Investors and partners
On November 8, 2024, Binance Labs announced its investment in BIO Protocol. However, the amount of funding raised has not been disclosed in detail.
BIO Protocol's strategic partners are mostly large DAOs in the crypto market, such as VitaDAO, Cerebrum DAO, CryoDAO...
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