BIO Protocol is a pioneering Decentralized Science (DeSci) project leveraging blockchain technology to revolutionize biotech research funding. By streamlining the fundraising process, BIO Protocol aims to empower researchers and accelerate advancements in the biomedical field. This initiative has already facilitated funding for prominent BioDAOs like HairDAO, focused on hair loss treatments, and AthenaDAO, dedicated to researching women’s health issues.
Table Content:
The BIO Protocol Interface
BIO Protocol: Products and Operational Model
BIO Protocol’s core functionality revolves around two key components designed to provide financial support to biomedical researchers: BioDAO and Launchpad.
BioDAO: Community-Driven Funding for Biotech Research
BioDAO is an aggregate of biomedical organizations supported by the BIO Protocol. The participation process is structured as follows:
- Application: Biomedical organizations seeking funding submit applications to BIO Protocol.
- Staking and Voting: Users stake BIO tokens to receive veBIO tokens, granting them voting rights to select promising research projects.
- Token Sale: Upon successful admission into BioDAO, BIO Protocol facilitates a token sale for the chosen organization. For instance, VitaDAO raised funds through its VITA token.
- Rewards and Allocation: Participants who voted for successful projects receive whitelist access to the token sale and BIO token rewards. The BIO Protocol team also acquires 6.9% of the total token supply to further support product development.
While incorporating familiar elements like the ve(3,3) model and token sales, BIO Protocol significantly streamlines traditional fundraising complexities, enabling researchers to quickly secure seed funding. Furthermore, BIO Protocol issues IP-NFTs to represent ownership rights of research findings, granting holders access to research data stored on the blockchain.
Launchpad: Direct Access to Token Sales
Distinct from BioDAO, the Launchpad caters to biomedical organizations capable of issuing and selling their own tokens without undergoing the BioDAO application and voting process. This platform utilizes a Batch Auction model, where users bid on token quantities and prices. Tokens are distributed based on descending bid prices.
While enabling rapid fundraising, projects launched on the Launchpad may carry a higher risk compared to those vetted through BioDAO, as there’s less community oversight to ensure funds are allocated solely for research purposes.
BIO Token: Utility and Governance
BIO Token Key Metrics
- Name: BIO
- Ticker: BIO
- Blockchain: Ethereum
- Contract: 0xcb1592591996765Ec0eFc1f92599A19767ee5ffA
- Token Type: Utility, Governance
- Total Supply: 3,320,000,000 BIO
BIO Token Allocation
- 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 Allocation Breakdown
BIO Token Vesting Schedule
The BIO token vesting schedule is as follows:
- Ecosystem Incentive: 100% unlocked at TGE.
- Core Contributor: 1-year lockup, followed by a 6-year linear vesting schedule.
- Community Auction: 50% at TGE, the remainder unlocked linearly over 1 year.
- Investor: 1-year lockup, followed by a 4-year linear vesting schedule.
- Community Airdrop: 1-year lockup, followed by a 6-year linear vesting schedule.
- Molecule Ecosystem Fund: 4-year linear vesting schedule.
- Molecule: 4-year linear vesting schedule.
- Advisor: 1-year lockup, followed by a 6-year linear vesting schedule.
BIO Protocol: Team, Investors, and Partners
BIO Protocol is spearheaded by a team of experienced professionals in biology and blockchain, including:
- Paul Kohlhaas: Founder of BIO Protocol and founder of ixo Foundation, VitaDAO, Molecule AG.
- Clemens O: CPO of BIO Protocol, Co-Founder of MTX Studio (a Web3 game development company), and former Head of Product at Molecule.
The BIO Protocol Team
Binance Labs announced its investment in BIO Protocol on November 8, 2024, though the specific investment amount remains undisclosed. Strategic partners include prominent DAOs in the crypto space, such as VitaDAO, Cerebrum DAO, and CryoDAO.
