$BIO represents a groundbreaking financial framework that is transforming the Decentralized Science (DeSci) space. By enabling the smooth movement of capital and talent into blockchain-powered scientific ecosystems, BIO creates a foundation for developing, funding, and commercializing scientific innovations through BioDAOs.
Additionally, the protocol provides standardized frameworks, tokenomics models, and data systems, equipping scientific communities with the tools they need to scale their initiatives successfully.
In this article, we will dive into the BIO protocol: what makes it unique and how you can buy $BIO tokens.
How Does the $BIO Token Work?
The BIO token operates within a decentralized network that integrates community-driven curation, funding, liquidity management, and governance powered by the native token. Here’s a breakdown of how the token functions across major verticals:
-
Curation (BIO Staking)
BIO token holders stake their vBIO tokens to participate in the selection of new BioDAO applicants, demonstrating long-term commitment to the ecosystem. Successful BioDAO applicants receive treasury support, while stakers are rewarded with:
- Staking incentives.
- Early access to funding opportunities.
- Exclusive perks from BioDAO products and services.
-
Funding
Approved BioDAOs gain access to whitelisted pre-seed funding rounds, offering BIO stakers early investment opportunities with terms often surpassing traditional venture capital options. This process ensures alignment between scientific communities and their research goals.
-
Liquidity Management
The protocol simplifies secondary market liquidity for BioDAOs, allowing them to focus on advancing research. Liquidity pools, such as VITA/BIO and BIO/ETH, facilitate:
- Smooth token exchanges.
- Growth of protocol-owned liquidity (POL).
- Fee generation for the network.
4. Bio/Acc Rewards
BIO tokens serve as incentives for BioDAOs to reach critical milestones, such as:
- Developing intellectual property.
- Advancing clinical trials.
- Launching products. These rewards enhance the network’s value and contribute to the growth of assets under management (AUM).
- Meta-Governance
The BIO treasury holds tokens from various BioDAOs, enabling BIO token holders to influence governance decisions across multiple BioDAOs and their associated intellectual property assets. This interconnected governance framework strengthens the overall ecosystem.
Who Founded Bio Protocol?
The BIO Protocol is guided by a visionary leadership team dedicated to advancing decentralized science and innovation.
At the helm is Paul Kohlhaas, Founder and CEO, who previously co-founded Molecule, a groundbreaking platform pioneering the tokenization of biomedical research. His mission is to revolutionize traditional funding models to accelerate the pace of scientific discovery.
Co-founder and Chief Product Officer Clemens Ortlepp leverages his extensive expertise in biotechnology to shape the strategic vision and development of the BIO Protocol.
The team also includes notable contributors:
- James Sinka, who spearheads research and development efforts.
- Jose Pinto, overseeing legal and compliance frameworks to ensure operational integrity.
- Leonard Boltz, a key contributor driving innovative product design.
What Makes Bio Protocol Unique?
Bio Protocol stands out as a unique platform in the biotechnology and scientific research landscape due to several innovative features:
Decentralized Science (DeSci) Approach: Bio Protocol pioneers the concept of Decentralized Science, leveraging blockchain technology to revolutionize how scientific research is funded, conducted, and shared. This approach addresses many limitations of traditional research models. By allowing a global community to contribute to research funding, Bio Protocol breaks down barriers that often hinder promising projects in traditional funding models. BIO token holders can participate in selecting which research projects receive funding, ensuring a more diverse and inclusive approach to scientific advancement
BioDAO Ecosystem: The platform’s network of Biotech Decentralized Autonomous Organizations (BioDAOs) is a standout feature. Each BioDAO focuses on specific areas of biotechnology, from longevity research to women’s health and rare diseases. Collaborative Development: BioDAOs bring together scientists, patients, and investors to collectively fund, develop, and own biotechnological innovations Innovative Tokenomics:
The BIO token serves multiple crucial functions within the ecosystem. Token holders can stake BIO to vote on new BioDAO proposals and influence the direction of the protocol. The platform uses BIO tokens to reward achievements of research milestones, encouraging progress and innovation. Bio Protocol manages secondary market liquidity for BioDAO tokens, ensuring stable markets for scientific projects.
What are the Features of Bio Protocol?
Bio Protocol offers a holistic approach to supporting scientific research:
- Bio Launchpad: A three-phase platform for supporting and launching biotech DAOs
- BIO Incubator: A 16-week program providing funding, mentorship, and technical resources to biotech startups.
- IP Management: The platform facilitates the tokenization and management of intellectual property, making research outcomes more easily shared and applied
- Data Sovereignty and Security: Bio Protocol emphasizes user control over biological data:
- Data Ownership: Users have complete control over their biological data, including genetic information and health records
- Secure Data Trading: The platform enables peer-to-peer sharing and trading of biological data through a decentralized market, ensuring privacy and security
By combining these elements, Bio Protocol creates a unique ecosystem that accelerates scientific innovation, provides equitable access to funding, and empowers a global community of scientists, patients, and investors in the biotech sector. This comprehensive approach to decentralized science sets Bio Protocol apart in its mission to transform how biotech research is conducted, funded, and shared.
$BIO Price and Tokenomics of Bio Protocol Coin
Source: TradingView
BIO Price Action: The trading price of BIO token is $0.7717 at the time of writing. The fully diluted market cap of $BIO is $2.56B and a trading volume of + $519 million.
BIO has recorded a trading volume of 678.25k indicating healthy participation in the token. The recent price action suggests a consolidation phase with potential bullish momentum building. The combination of increasing MACD values and steady volume indicates growing buyer interest at current levels.
Tokenomics of BIO TOKEN: The token’s distribution and vesting schedule are meticulously designed to ensure sustainable growth and empower community-driven governance. With a total supply of 3.32 billion tokens, 39.05% are already in circulation, including 15% held in the treasury. This treasury reserve can only be unlocked with governance approval, reflecting the protocol’s commitment to transparency and collective decision-making.
At launch, the BIO token is non-transferrable, and its supply is governed dynamically. Future minting, aimed at fueling network expansion, will involve deploying new token contracts, ensuring flexibility and scalability as the ecosystem evolves.
From the outset, BIO places the community at its core. A significant 56% of tokens are allocated for auctions, airdrops, and ecosystem incentives, amplifying user participation and engagement. Other allocations include:
- Early contributors (21.2%), recognizing their foundational efforts.
- Early backers (13.6%), ensuring strategic alignment.
- Advisors (4.2%), for expert guidance.
- Molecule (5%) and the Molecule Ecosystem Fund (5%), fostering long-term innovation and collaboration.
This thoughtful distribution framework not only prioritizes inclusivity but also empowers stakeholders through decentralized governance, enabling them to shape the protocol’s trajectory and secure its vision for the future.
Source: Bio Protocol Whitepaper
How to Buy $BIO Token on Bitunix?
To buy $BIO, you need to create an account on Bitunix. If you are already a registered user, you can skip this step.
Next, you need to deposit USDT in your Bitunix account. Simply head to your profile and click on the wallet icon. Next, click on deposit and follow the steps to deposit crypto in your account.
Watch our step by step tutorial on How to Deposit Crypto on Bitunix.
If you don’t own crypto, you can buy crypto from our third party on-ramp crypto providers. Simply head to the Buy Crypto tab in the main menu and choose the crypto you wish to buy.
To trade in BIO/USDT, navigate to the main menu and choose the Markets tab. Next, choose ‘spot’ and type Griffain. You can place a spot trade at a limit price or market price.
Watch our video on What is Limit and Market Price?
