BIO Protocol (BIO) is a decentralized platform dedicated to advancing biotechnology by enabling global communities—including patients, scientists, and biotech professionals—to collectively fund, develop, and own tokenized biotech projects and intellectual property (IP). By leveraging blockchain technology, BIO Protocol aims to democratize access to biotech funding and innovation, fostering a more inclusive and efficient ecosystem for scientific advancement.
Key Metrics
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Funding Raised: Over $33 million secured during the BIO Genesis phase, strengthening the financial foundation for supporting BioDAOs and scientific research.
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BioDAO Network Growth: The BIO ecosystem has incubated multiple BioDAOs, contributing to a growing network of decentralized biotech organizations.
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Community Engagement: Airdropped BIO tokens to over 8,500 DeSci participants, fostering a broad and active community dedicated to advancing decentralized science.
What Is BIO Protocol (BIO)?
BIO Protocol serves as a curation and liquidity protocol within the Decentralized Science (DeSci) movement. Its mission is to accelerate biotechnology by providing tools and frameworks that facilitate the creation of BioDAOs—decentralized autonomous organizations focused on specific scientific research areas. These BioDAOs enable community-driven funding and governance of biotech projects, ensuring that innovation is both inclusive and transparent.
BIO Protocol's Ecosystem and Core Features
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BioDAOs: At the heart of BIO Protocol are BioDAOs, community-owned entities that focus on specific scientific domains. Each BioDAO pools resources to fund research and develop IP, with governance and benefits distributed among its members. Notable BioDAOs within the ecosystem include VitaDAO (longevity research), AthenaDAO (women’s health), PsyDAO (psychedelic science), and ValleyDAO (environmental biotech solutions).
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Curation: BIO token holders participate in the selection of new BioDAOs by staking their tokens, ensuring that only high-quality projects join the ecosystem. This community-driven approach promotes a diverse and robust network of BioDAOs.
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Funding: Approved BioDAOs receive financial support from the BIO Protocol, enabling them to initiate and sustain innovative biotech projects. This funding mechanism accelerates scientific research by providing resources at critical development stages.
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Liquidity: BIO Protocol enhances liquidity for BioDAOs by facilitating token pairings in liquidity pools, improving market efficiency and accessibility for investors and contributors.
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Meta-Governance: BIO token holders can engage in the governance of various BioDAOs, influencing decisions related to scientific IP assets and project directions, thereby fostering a collaborative and decentralized decision-making process.
BIO Protocol (BIO) Airdrop Overview
In line with its mission to advance Decentralized Science (DeSci), BIO Protocol conducted an airdrop to reward early supporters and active participants within the DeSci ecosystem.
$BIO Airdrop Details
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Total Allocation: 3% of the total BIO token supply was designated for the airdrop, benefiting over 8,500 eligible addresses.
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Snapshot Date: Eligibility was determined based on a snapshot taken on April 1, 2024.
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Claim Process: Recipients could verify their eligibility and claim their vested BIO (vBIO) tokens through the official claim portal.
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Token Status: While vBIO tokens are immediately redeemable for BIO, the BIO tokens remain non-transferable until a governance vote determines otherwise.
Who Is Eligible for the BIO Protocol Airdrop?
Participants qualified for the airdrop by meeting one or more of the following conditions:
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Auction Participation: Placed bids in BioDAO auctions.
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Token Holdings: Held more than $100 worth of BioDAO tokens before April 1, 2024.
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Liquidity Provision: Provided liquidity for BioDAO tokens.
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Community Engagement: Actively participated in BioDAO Discord communities.
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Contributions: Served as a core contributor in a BioDAO.
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Donations: Donated at least $50 to DeSci projects on Gitcoin during Rounds 15, 17, or Hyper DeSci.
Distribution Mechanics
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Vesting: The airdropped tokens are fully vested upon claiming.
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Transferability: Although recipients can convert vBIO into BIO at any time, the BIO tokens will remain non-transferable until a governance vote decides to unlock them.
Additional Airdrop for BIO Core Community
An additional 1% of the total BIO supply was allocated to the initial BIO core community, comprising individuals who contributed to the project's development over its first two years. This allocation is subject to a one-year cliff followed by a six-year vesting period, managed through the vBIO contract.
BIO Protocol Token Use Cases and Tokenomics
BIO Token Utility
The BIO token is integral to the BIO Protocol ecosystem, serving multiple functions:
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Curation: Token holders stake BIO to vote on new BioDAOs, influencing the direction of the ecosystem.
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Funding: Stakers gain early access to funding rounds for BioDAOs, potentially benefiting from the growth of successful projects.
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Rewards: Participants receive BIO tokens as incentives for contributing to the ecosystem, such as sharing health data or participating in clinical trials.
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Governance: BIO holders can participate in decision-making processes across multiple BioDAOs, impacting the development and commercialization of scientific IP.
BIO Protocol Token Supply and Allocation
Total Supply: 3,320,000,000 BIO tokens.
BIO Token Status: Currently non-transferable; transferability will be determined through a governance vote.
Max Supply: Uncapped; future issuance subject to governance decisions.
BIO Token Allocation
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Community (56%):
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Community Auction (20%): 664,000,000 BIO tokens allocated for initial token swaps during the BIO Genesis Auctions. 50% of these tokens are immediately liquid, with the remaining 50% vesting linearly over one year.
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Community Airdrop (6%): 199,200,000 BIO tokens distributed to BioDAO token holders and early supporters. Public airdrop tokens have no vesting period, while tokens for BioDAOs and genesis members have a one-year cliff followed by a six-year vesting schedule.
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Ecosystem Incentives (25%): 830,000,000 BIO tokens reserved for ecosystem incentives, such as curation and investment rewards, and liquidity provisioning for BioDAOs. Distribution is subject to individual governance votes, with no predefined vesting schedule.
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Molecule Ecosystem Fund (5%): 166,000,000 BIO tokens allocated to incentivize initiatives focusing on research and development of IP tokenization and AI research infrastructure. These tokens vest over four years.
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Investors (13.6%): 451,520,000 BIO tokens allocated to strategic investors from the seed round or Molecule shareholders, with a one-year cliff and a four-year vesting period.
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Core Contributors (21.2%): 703,840,000 BIO tokens designated for core contributors working on BIO, featuring a one-year cliff and a six-year vesting schedule.
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Advisors (4.2%): 139,440,000 BIO tokens allocated to individuals with expertise in biotech, intellectual property, and tokenization, supporting protocol development. These tokens have a one-year cliff and vest over six years.
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Molecule (5%): 166,000,000 BIO tokens allocated for transferring core IP, brand, and ecosystem stewardship to the Bio.xyz Association, with a four-year vesting period.
Circulating Supply Projections and Inflation Policy
Due to the extended vesting schedules for core team members and investors, the circulating supply is expected to increase gradually over the first three years, excluding any community-directed inflation.
BIO Protocol token vesting schedule | Source: BIO Protocol docs
BIO token inflation is designed to support secondary market liquidity and will scale in tandem with the growth of the BioDAO network. Specific inflation rates will be determined through governance decisions.
Value Accrual Mechanisms
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Token Allocations: The BIO Network provides incubated BioDAOs with a $100,000 grant in exchange for 6.9% of the BioDAO’s token supply, which accrues in the BIO Treasury, enhancing assets under management (AUM) as underlying DAOs appreciate in value. The treasury may also receive allocations of BioDAO scientific IP assets.
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Protocol-Owned Liquidity (POL): The BIO treasury accrues fees and yields from its on-chain liquidity in BIO tokens, BioDAO tokens, IP tokens, ETH, and other assets, building POL to support the ecosystem's financial health.
BIO Protocol Roadmap
Key Milestones
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July 2021: VitaDAO initiated, marking the beginning of decentralized autonomous organizations (DAOs) in biotech.
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August 2021: First on-chain science funding in partnership with the University of Copenhagen.
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December 2022: Pfizer Ventures backs VitaDAO in a $4.1 million round, indicating significant institutional interest in DeSci.
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June 2023: First IP-Token launched from Newcastle University, pioneering tokenized intellectual property in biotech.
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November 2023: Aggregate market cap of BioDAO tokens surpasses $200 million, reflecting growing investor confidence.
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December 2023: HairDAO becomes the first DAO to file a scientific patent, showcasing the potential of decentralized research.
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November 2024: Binance Labs makes its first DeSci investment in BIO Protocol, underscoring the project's prominence.
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November 2024: BIO Genesis raises over $33 million, providing substantial funding for future initiatives.
Upcoming Developments (as of January 2025)
- Q1 2025:
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BIO Protocol Launchpad Goes Live: Introduction of a platform to curate, form, and fund BioDAOs, making decentralized science accessible and engaging.
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BIO Research Agents Deployment: Launch of AI-driven research agents to support scientific endeavors within the BIO ecosystem.
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2025 and Beyond:
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Expansion of BioDAOs: Onboarding hundreds of new patient communities as BioDAOs, fostering a diverse and collaborative environment for decentralized science.
Conclusion
BIO Protocol represents a transformative approach to biotechnology, merging decentralized finance principles with scientific research to create a dynamic and inclusive ecosystem. By empowering communities to fund and govern biotech projects, BIO Protocol aims to accelerate innovation and democratize access to scientific advancements, positioning itself as a pioneering force in the DeSci movement.
