Swiss Nonprofit Launches BIO Tokens for Decentralized Biotech Network
The BIO Association, a nonprofit based in Switzerland, has announced its upcoming launch of BIO tokens as part of its decentralized biotech initiative known as BIO Protocol. This announcement was made public on September 30, as reported by CryptoSlate.
A Bridge Between Biotech and Cryptocurrency
This innovative platform aims to connect the biotechnology sector with the cryptocurrency ecosystem through a decentralized network. Designed as a launchpad for science communities on-chain, it seeks to democratize access to vital scientific research and funding.
Empowering Science Through BioDAOs
At the core of the BIO Association’s mission is the creation of BioDAOs—community-driven organizations that focus on the development and financing of scientific intellectual property. This structure allows scientists and communities to directly influence and partake in research funding.
Background of the BIO Association
The BIO Association emerged from Molecule AG, a Swiss firm known for its innovative tokenization infrastructure designed for Decentralized Science (DeSci) organizations. Currently, the BIO Network encompasses eight distinct scientific communities specializing in various areas such as longevity, women’s health, neurodegeneration, and synthetic biology. This initiative has the potential to revolutionize the biotech industry using blockchain technology and DeSci principles.
Recent Fundraising Success
In August, the BIO Protocol successfully raised over $5 million via auction, demonstrating strong interest and support from investors.
Details on the BIO Token Launch
The BIO Association is planning a fair and transparent token launch, mirroring practices seen in other major token releases, emphasizing inclusivity in the expanding DeSci landscape.
Token Acquisition and Governance
Following the launch, users will have the opportunity to acquire BIO tokens using Ethereum (ETH) or other DAO tokens available on the BIO network. The initial phase of the token distribution will last for 45 days or until a fully diluted valuation (FDV) of $100 million is achieved. After this window closes, tokens will be non-transferable until a governance decision allows changes.
Voting Rights and Access to Funding
The mainnet launch of the BIO token will occur on the Ethereum blockchain, aligning with other prominent DeSci projects. Holders of the BIO token will have voting rights regarding which new BioDAOs can join the network and will get exclusive access to funding opportunities from leading universities and researchers.
Early Investors
Among the early holders of BIO Genesis tokens are several notable investors, including ZeePrime Capital, Beaker DAO, Boost VC, 1kx, ID Theory, Compound, Cherry Crypto, L1D, Fifty Years, Northpond Ventures, KdT Ventures, Sora Ventures, and The LAO.