The BIO Association, a nonprofit organization based in Switzerland, has recently announced its plans to launch BIO tokens in preparation for the release of its decentralized biotech network, BIO Protocol. This groundbreaking initiative aims to bridge the gap between the fields of biotechnology and cryptocurrency, providing a platform for on-chain science communities to collaborate and innovate.
One of the primary goals of the BIO Association is to democratize access to scientific research and funding. To achieve this, the organization will establish BioDAOs, community-led organizations that will drive the development and financing of scientific intellectual property. By empowering these decentralized entities, the BIO Association hopes to revolutionize the way scientific discoveries are made and shared.
The BIO Association is a spin-off of Molecule AG, a Swiss company that specializes in tokenization infrastructure for decentralized science (DeSci) organizations. Currently, the BIO Network is home to eight scientific communities focused on a range of topics including longevity, women’s health, neurodegeneration, and synthetic biology. By leveraging blockchain technology and DeSci principles, the BIO Network has the potential to transform the biotech industry and drive innovation in the field.
In August, the platform successfully raised over $5 million through an auction, demonstrating strong interest and support for its mission. As part of its commitment to transparency and fairness, the BIO Association will conduct a token launch that mirrors major token releases in the industry. This approach reflects the organization’s dedication to promoting equal opportunity and inclusivity within the growing DeSci space.
Once the BIO tokens are launched, users will have the opportunity to acquire them using ETH or other DAO tokens within the BIO network. The genesis phase of the token launch will last 45 days or until the BIO token reaches a fully diluted valuation (FDV) of $100 million. During this period, the tokens will be non-transferable until a governance vote determines otherwise.
The mainnet launch of the BIO token will take place on the Ethereum network, aligning the project with other leading DeSci initiatives. Token holders will have the ability to vote on which new BioDAOs join the network and will gain access to science-focused funding opportunities from top universities and researchers.
Early supporters of the BIO Genesis token include prominent names such as ZeePrime Capital, Beaker DAO, Boost VC, 1kx, ID Theory, Compound, Cherry Crypto, L1D, Fifty Years, Northpond Ventures, KdT Ventures, Sora Ventures, and The LAO. Their involvement underscores the significant potential of the BIO Protocol and its ability to shape the future of biotech innovation.