Despite the value fluctuation, BIO Protocol has change into the biggest participant within the $1 billion decentralized science (DeSci) market, overtaking opponents akin to OriginTrail and ResearchCoin.
Community Proposal for Solana Expansion
As a part of its roadmap, BIO Protocol initiated a community proposal to develop the BIO token ecosystem to the Solana blockchain.
The plan contains deploying BIO token contracts on Solana, making a cross-chain bridge, and allocating 1% of ecological incentive funds for cross-chain liquidity swimming pools. This transfer is predicted to reinforce liquidity and interoperability throughout networks.
New Proposal: Bridge $BIO to @solana
DeSci on Solana is inevitable
1. Bring the $BIO token to Solana
2. Deploy onchain liquidity
3. Power shopper merchandise that permit scientists and sufferers create and devour science in new methods pic.twitter.com/GLQWttRjWl— BIO Protocol (@bioprotocol) December 25, 2024
BIO Protocol: Addressing Challenges in Scientific Funding
BIO Protocol goals to unravel key inefficiencies in conventional scientific funding, which embrace time-consuming utility processes, funding focus in particular areas, and boundaries to mental property (IP) commercialization. By using decentralized expertise, BIO permits international communities of sufferers, scientists, and traders to fund, construct, and personal tokenized biotech initiatives and IP.
Key options offered by BIO Protocol embrace:
- Decentralized Funding: Allowing people to put money into biotech improvements.
- Global Talent Pools: Enabling international participation from researchers and traders.
- Shared IP Ownership: Offering co-ownership of tokenized scientific IP.
- Liquid Markets: Providing early liquidity for historically illiquid biotech property.
Token Details and Distribution
The BIO token is an ERC-20 token with a most provide of three.32 billion tokens. Upon itemizing on Binance, roughly 39% of the token provide (1.296 billion tokens) turned out there for circulation. Notably, 3% of the overall token provide (99.6 million tokens) was allotted to the Binance Launchpool.
Fundraising Milestones
BIO Protocol has efficiently raised capital by non-public and public fundraising rounds, together with the next:
- Private Rounds: Raised $0.9 million and $1.4 million throughout Pre-Seed and Seed rounds.
- Genesis Auction Rounds: Raised $28 million throughout three public rounds, reaching valuations of as much as $219 million.
Upcoming Developments
In 2025, BIO Protocol plans to launch its platform on Solana and different blockchain ecosystems whereas increasing its suite of BioDAOs and liquidity swimming pools. This contains the launch of recent initiatives, akin to Long COVID Labs and Curetopia.
