The BIO Association, a Swiss nonprofit, has announced the upcoming launch of BIO tokens for its decentralized biotech network, BIO Protocol, as reported by Crypto.
The association aims to bridge the gap between biotechnology and cryptocurrency through its innovative decentralized biotech network. This platform will act as a hub for on-chain science communities.
Furthermore, the BIO Association intends to democratize access to scientific research and funding by establishing BioDAOs—community-led organizations that support the development and financing of scientific intellectual property.
Originating from Molecule AG, a Swiss firm specializing in tokenization infrastructure for DeSci organizations, the BIO Association is paving the way for a new era in biotech.
Currently hosting eight scientific communities focused on areas such as longevity, women’s health, neurodegeneration, and synthetic biology, the BIO Network has the potential to revolutionize the biotech industry through the utilization of blockchain technology and DeSci principles.
Noteworthy is the platform’s successful fundraising of over $5 million through an auction held in August.
BIO token
The BIO Association is committed to a fair and transparent token launch process, mirroring major token releases to ensure equal opportunities within the rapidly expanding DeSci space.
Upon launch, users will have the option to acquire BIO tokens using ETH or other DAO tokens within the BIO network.
The genesis phase will continue for 45 days or until the BIO token reaches a fully diluted valuation (FDV) of $100 million. Subsequently, the tokens will be non-transferable until a governance vote determines otherwise.
The mainnet launch of the token will take place on Ethereum, aligning with leading DeSci projects in the industry.
BIO token holders will have the privilege to vote on the inclusion of new BioDAOs in the network and access science-focused funding from reputable universities and researchers.
Among the early BIO Genesis token holders are ZeePrime Capital, Beaker DAO, Boost VC, 1kx, ID Theory, Compound, Cherry Crypto, L1D, Fifty Years, Northpond Ventures, KdT Ventures, Sora Ventures, and The LAO.