BIO is listed on Binance, with public offering returns reaching up to 58 times, and the airdrop value of some sub-DAOs exceeding their market value
Users participating in public offerings can theoretically achieve a maximum return of 58 times. As a "Y Combinator for on-chain science," Bio Protocol currently has 8 sub-DAOs. Can the DeSci track, which has been favored by CZ and Vitalik Buterin, continue to bring imagination to the market?Author: Weilin, PANews
At 6 PM Beijing time on January 3, the token BIO of Bio Protocol was listed on Binance, with trading pairs BIO/USDT, BIO/BNB, BIO/FDUSD, and BIO/TRY opened. After the opening, BIO briefly reached $1.477, and as of 9:15 PM, the price was $0.89. Earlier, at 5 PM on January 3, after the on-chain transfer was opened, the on-chain opening price of BIO was $0.7727. It is important to note that currently, BIO only supports operations on the Ethereum mainnet, and more blockchains will be launched in the coming days and weeks. There are multiple meme coins named "BIO" or using similar logos in the market, which are scams.
Previously, the decentralized science project Bio Protocol launched three rounds of public fundraising from August 9 to November 14, raising $6.2 million, $18.2 million, and $3.5 million respectively, with estimated token unit costs of $0.0256, $0.04277, and $0.06596 for the three rounds. After BIO was listed on Binance, users who participated in the public fundraising could theoretically achieve a maximum return of up to 58 times based on the first round BIO cost and the highest price after the opening.
As a "Y Combinator of on-chain science," Bio Protocol currently has 8 sub-DAOs focusing on longevity research, brain health, hair loss treatment, women's health, long-term Covid treatment, and rare diseases. Can the DeSci track, favored by CZ and Vitalik Buterin, continue to bring growth potential and imagination to the market?
BIO Listed on Binance, Public Fundraising Returns Up to 58 Times
The rise of Bio is inseparable from the support of Binance. As early as November 8 last year, Binance Labs announced its investment in the DeSci project BIO Protocol, stating that this investment marked Binance Labs' first foray into the decentralized science (DeSci) field. Less than a week after this announcement, CZ attended the DeSci Day event held by Binance in Bangkok and discussed DeSci insights with Vitalik. On December 23, Binance Launchpool announced the launch of the 63rd project, Bio Protocol (BIO).
The public fundraising of Bio Protocol provided many users with a low-cost entry opportunity, and some auction tokens were directly released at TGE. However, due to a high initial circulation ratio, accounting for 39.05% of the total supply, along with 12.57% of early tokens unlocked at TGE, there were market predictions that BIO would face certain selling pressure after the opening.
According to on-chain analyst Yu Jin's monitoring, Arkham marked the address xinanko.eth belonging to Sigil Fund CIO @Fiskantes (daddy fiskantes), which transferred 6.54 million BIO (approximately $4.77 million) to Binance shortly after the transfer was opened. These BIO were obtained through public fundraising, with an average public fundraising price of about $0.04. The current price of BIO is $0.74, giving him a return of about 18 times (approximately $4.5 million).
Returning to Bio Protocol itself, the total initial supply of the BIO token is 3,320,000,000 BIO, with a maximum supply that has no upper limit, and future increases may be decided through governance voting. The mechanism for increasing supply requires deploying a new token contract to replace the current BIO token.
Among them, community-related allocations account for 56%, with specific allocations as follows:
Token distribution, community (total 56%):
- Community airdrop (6%): 199,200,000 BIO
- Community auction (20%): 664,000,000 BIO
- Ecosystem incentives (25%): 830,000,000 BIO
- Molecule ecosystem fund (5%): 166,000,000 BIO
Other allocations are as follows:
- Core contributors (21.2%): 703,840,000 BIO
- Investors (13.6%): 451,520,000 BIO
- Molecule (5%): 166,000,000 BIO
- Advisors (4.2%): 139,440,000 BIO
In terms of airdrops, 3% of the total supply of BIO tokens is allocated for airdrops, with over 8,500 addresses qualifying. The snapshot date for the airdrop is April 1, 2024, and users can claim vBIO (locked BIO), which can be immediately exchanged for $BIO. The $BIO token is non-transferable until governance voting unlocks it.
As the governance token of the BIO protocol, BIO is used for the following functions:
Governance and decentralization: The BIO token grants holders governance rights over the BIO protocol and meta-governance rights within the BioDAO network.
Whitelist access: The BIO token provides holders with whitelist access to BioDAO financing rounds and the ability to tokenize IP on the network.
Curatorial management: BioDAOs chosen by BIO holders are launched through the BIO Launchpad and receive support from the network in terms of funding and liquidity.
Connecting BioDAOs: BIO represents a basket of DeSci tokens, as BioDAOs in the network contribute a certain proportion of their initial token supply to the protocol in exchange for funding, liquidity, and acceleration services.
Protocol liquidity: Bio Protocol provides liquidity through BioDAO tokens and IP tokens in its treasury, earning trading fees from the liquidity owned by its protocol.
Binance's Strong Endorsement, Can the DeSci Narrative Continue to Drive Growth?
As a "selected" project by Binance, BIO received significant market attention before its launch. The team behind BIO is a pioneer in the DeSci field, having previously created Molecule (a tokenization platform focused on biomedicine) and VitaDAO (the world's largest decentralized community for longevity science).
BIO is also seen as the "Y Combinator of on-chain science," currently having 8 sub-DAOs. In the white paper, BIO is referred to as an incubator for DeSci, with the most well-known sub-DAO being VitaDAO, which is backed by Ruihui Investment and focuses on longevity, along with others targeting hair loss like HairDAO and Alzheimer's like CerebrumDAO.
Bio enjoys ownership of the IP and patents produced by its sub-DAOs, and supporters of BIO believe that its narrative has a high ceiling.
On January 3, Arthur Hayes retweeted the article "Degen DeSci," pointing out that early BioDAOs like VitaDAO and CryoDAO will receive substantial rewards in BIO. For example, PsyDAO received 15.4 million BIO tokens, which is worth more than the DAO's own market value (calculated at a pre-market price of $0.95 for BIO).
Currently, the 8 DAOs of BioDAO have gone through the first iteration of the BIO acceleration program, with a cumulative market value exceeding $300 million. The recently launched BioDAO Quantum Biology received 13 times oversubscription, raising over $6.8 million in initial funding.
In terms of the roadmap, Bio Protocol will launch DeSci AI agents in January, expand $BIO on the Solana chain, $BIO on the Base chain, $BIO/BioDAOs liquidity pools, start long-term Covid laboratories, and announce new BIODAO announcements; and in February 2025, it will launch BIO Launchpad v1 and governance mechanisms on EVM chains, as well as BIO Launchpad v1 on Solana.
Overall, after being listed on Binance, despite facing certain selling pressure and slight fluctuations in market sentiment in the short term, it is still expected that BIO, as a leading project in the decentralized science sector, will achieve considerable value growth in the long term.
