1. Project Overview

1. Basic Project Information

BIO Protocol is a decentralized science (DeSci) platform aimed at promoting funding, development, and intellectual property (IP) sharing in biotechnology research through a decentralized autonomous organization (DAO) model. Its goal is to address the uneven distribution of funding in traditional biomedical research and encourage studies on rare diseases, longevity research, and other emerging health challenges.

The origins of BIO Protocol can be traced back to its team's work on the early biomedical tokenization platforms Molecule and the longevity science community VitaDAO, with BIO Protocol officially launching as an independent project in 2024.

2. Project Development History

(1) Early Exploration Stage

At the beginning of 2023, the BIO Protocol team began building the De-Sci ecosystem, leveraging the successful experiences accumulated at Molecule and VitaDAO to embark on pioneering explorations. They deeply analyzed the pain points of traditional scientific research and combined cutting-edge blockchain technology to lay a solid foundation for future development.

(2) Project Launch and Initial Development

In late 2024, BIO Protocol was officially established, starting to build the BioDAOs network to attract participation from scientists, patients, and investors, promoting research projects across multiple scientific fields.

(3) Important Milestones

In November 2024, Binance Labs made its first De-Sci investment in BIO Protocol, providing significant funding support and industry recognition for the project's development.

In December 2024, BIO Protocol completed the issuance of the BIO Genesis token, raising over $33 million. At the same time, it launched an airdrop plan for the BIO token to attract early supporters and active community members globally, laying the cornerstone for rapid expansion of the project ecosystem and stimulating community vitality.

In January 2025, the BIO token was launched on Binance Launchpool, with plans to launch on Ethereum, Solana, and Base networks, comprehensively expanding token circulation channels, enhancing project influence and market coverage, and building diverse bridges for subsequent capital flow and value exchange within the ecosystem.

3. Core Team Background

The core team of BIO Protocol consists of senior experts in the fields of blockchain and biotechnology, including:

Paul Kohlhaas, who holds multiple roles as a co-founder of BIO Protocol, founder and CEO of Molecule, and co-founder of VitaDAO, has deep expertise in the integration of blockchain and biotechnology. He previously worked at ConsenSys and the Swiss government blockchain project.

Clemens Ortlepp, co-founder and Chief Product Officer (CPO) of BIO Protocol, founder of MTX Studio, focuses on decentralized technology innovation. He leads the development of user-facing products for BIO Protocol, ensuring the platform has a user-friendly interface and efficient operational processes.

James Sinka, focusing on research and community aspects, has a strong foundation in blockchain technology development, ensuring the stability and efficiency of BIO Protocol's underlying technical architecture while continuously iterating and optimizing. He is also skilled in community operations, uniting the global dispersed forces of patients, scientists, enthusiasts, etc., to create an active and creative community ecosystem.

Jose Pinto, legal advisor, is well-versed in relevant laws and regulations in various regions, especially in the cryptocurrency field. He safeguards the project through compliance operations and regulatory challenges, providing professional legal support in all aspects from the initial commercial structure setup, token issuance compliance review, to daily operations including contract drafting and intellectual property protection, ensuring the project progresses steadily in a complex and changing legal environment, avoiding development hindrances due to legal risks.

Leonard Boltz, product expert, is responsible for refining every detail that users interact with, breaking down BIO Protocol's grand vision into practical and convenient tools. He is dedicated to creating an exceptional user experience, allowing users of different knowledge levels and technical backgrounds to easily engage and seamlessly integrate into the ecosystem, promoting large-scale adoption of the project.

Nate Hindman, head of growth, keeps a close eye on market dynamics, user needs, and industry trends. Through precise marketing strategies, expanding collaboration channels, and hosting online and offline events, he aims to enhance BIO Protocol's influence and attract more scientists, patients, and cryptocurrency community members to join.

2. Business Model

1. Operational Model

BIO Protocol serves as the financial layer of decentralized science (DeSci), aiming to accelerate the influx of capital and talent into on-chain science. The protocol aims to catalyze the on-chain economy of the scientific community (BioDAOs) and create a deep, liquid, and efficient market for scientific IP developed by BioDAOs.

BIO Protocol has five core functions:

(1) Curation (BIO Staking)

BIO token holders participate in selecting new BioDAOs to join the ecosystem, providing funding for scientific research in a bottom-up manner. Community-selected BioDAOs will receive funding, be added to the treasury, and be supported by BIO Protocol. Since BIO Protocol relies on high-quality BioDAOs, curation requires locked BIO (vBIO) participation to ensure that participants maintain long-term aligned goals with the network.

Through vBIO (locked BIO), BIO holders can express support for new DAO applications submitted by "operators" (stakeholders supporting the incubation phase of BioDAOs).

BIO holders use vBIO tokens to choose which BioDAOs they wish to accept. If the DAO they support is approved to enter the network, these stakers will gain priority access to whitelist funding rounds and privileged access to DAO products, data, or services.

(2) Funding

If a BioDAO application is accepted to join the BIO network, all participants who staked vBIO in support of that BioDAO can participate in the initial whitelist seed funding round.

Through BIO, users can support groundbreaking scientific research from day one and enjoy terms that are equal to or even better than those offered by venture capital (VC) firms or other institutions.

(3) Liquidity Management

BioDAOs focus on scientific research rather than managing liquidity. BIO Protocol addresses this issue by managing the liquidity of the BioDAO secondary market.

BIO Protocol can use the BIO tokens and other token holdings in its treasury to provide on-chain liquidity support for the BIO network.

BIO tokens can be paired with BioDAO tokens (e.g., VITA/BIO, HAIR/BIO) or with other assets (e.g., BIO/ETH) to build liquidity pools, enabling low-cost token conversions within the network, accumulating fees, and building the protocol's own liquidity.

(4) Bio/acc Rewards

BIO Protocol can issue rewards in the form of BIO tokens (i.e., "bio/acc rewards") to incentivize BioDAOs to achieve key milestones aimed at enhancing network value (e.g., assets under management, AUM).

BIO holders can utilize bio/acc rewards to motivate BioDAOs to achieve the following goals:

Ø Provide a certain amount of funding support for on-chain scientific research;

Ø Maintain a certain level of token liquidity;

Ø Develop intellectual property that can enter clinical trials;

Ø Generate sales revenue through the consumption of products or services.

(5) Meta-Governance

BIO Protocol holds various BioDAO tokens in its treasury, allowing it to serve as a meta-governance layer, empowering BIO holders to govern a wide range of BioDAOs and scientific IP assets.

2. Ecosystem Building

The core of BIO Protocol's ecosystem relies on the BioDAO network. These BioDAOs focus on different subfields of science, with each BioDAO serving as an independent yet collaborative innovation engine. Members include patients, scientists, and biotechnology practitioners from relevant fields, who come together for a common goal, selflessly contributing their data, funding, labor, and other resources to form a powerful force driving scientific research forward.

For example, in the funding phase, the project has meticulously designed a precise mechanism to guide funding towards specific scientific missions or individual IP assets. When a BioDAO locks in on tackling a rare disease research project, it quickly initiates community voting, token incentives, and other diverse strategies, reaching out to passionate and professionally matched parties globally to attract funding while igniting communication within the network and accelerating the research process.

3. Success Cases

(1) VitaDAO

Provided over $5 million in funding support for longevity science research, received backing from Pfizer Ventures, and collaborated with Newcastle University.

(2) HairDAO

Focusing on hair loss issues, owning all patents and consumer products under the DAO, including Follicool.

(3) CerebrumDAO

Promoting brain health research, has raised over $1.5 million, and has reached a collaboration agreement with Fission Pharma to jointly address mitochondrial dysfunction in neurodegenerative diseases.

(4) ValleyDAO

Focusing on the field of synthetic biology, has raised over $2 million and established a partnership with Imperial College London.

(5) AthenaDAO

Promoting women's health research and development, has funded $500,000 in translational research, with 14 intellectual property transactions currently underway.

(6) CryoDAO

Advancing the field of cryogenic science, has raised over $3 million for this field and established project collaborations with Oxford Cryotechnology and Advanced Neural Biosciences.

(7) PsyDAO

Focusing on psychedelic drug research, launched the OPSY platform, a new platform that leverages psychedelic drug trials and data to drive research.

The second group of early admissions for BIO includes:

(1) Long COVID Labs

Dedicated to accelerating the development of treatments for over 100 million long COVID patients.

Founder: Rohan Dixit, former neuroscientist at Stanford University, medical entrepreneur, and long COVID survivor.

(2) Quantum Biology DAO

Developing quantum microscopes to advance biological research.

Founders: Clarice D. Aiello (PhD from MIT, a world-leading quantum biologist) and Geoff Anders (Executive Director of Leverage Research).

(3) Curetopia

Addressing over $1 trillion in rare disease issues by uniting families and patient communities.

Founder: Ethan Perlstein, PhD from Harvard University, entrepreneur, and Y-Combinator alumnus.

4. Token Economics

$BIO is the native governance token of BIO Protocol. Holders can use $BIO to:

Ø Signal support for which BioDAOs (Curation);

Ø Vote on future $BIO issuance or allocation;

Ø Implement network development accelerator programs.

$BIO provides holders with the following rights:

Ø Governance rights over the BioDAOs network

Ø Participation rights in early financing rounds of BioDAOs

Ø Economic rewards for contributing health data and participating in clinical trials

Ø New health products funded by BioDAOs

$BIO is issued by the Bio.xyz Association, a non-profit organization that serves as the legal steward of BIO's infrastructure and finances.

(1) Initial Distribution

Ø Total Supply: 3,320,000,000

Ø Circulating Supply: 39.05% (of which 15% is in the BIO Protocol treasury and requires governance voting to unlock)

Ø Maximum Supply: No limit, determined by voting of the BIO governance body

New BIO can be minted due to future protocol or network growth, but requires the deployment of new contracts to replace the current BIO token contract.

(2) Genesis Token Distribution

Ø Community: 56% (of which: Community Auction: 20%, Community Airdrop: 6%, Ecosystem Incentives: 25%, Molecule Ecosystem Fund: 5%)

Ø Early Supporters: 13.6%

Ø Early Contributors: 21.2%

Ø Advisors: 4.2%

Ø Molecule: 5%

(3) $BIO Unlocking Plan

Ø Ecosystem Incentives (25%): No lock-up

Ø Community Airdrop (6%): No lock-up

Ø Community Auction (20%): 50% no lock-up, 50% linear unlocking over one year

Tokens received by other parties will unlock over 1-6 years.

3. Project Prospects

1. Industry Analysis

The DeSci industry in which BIO Protocol operates is an emerging and rapidly developing field, currently in its early stages of rapid growth. According to a recent chart shared by Messari, half of the top 10 DeSci projects by market capitalization were launched in 2024. The rapid rise of this sector in the cryptocurrency market highlights ongoing innovation and growing interest.

Key drivers of the DeSci industry include:

Decentralization trend in scientific research: Funding distribution for traditional research projects is often concentrated in a few institutions, while DeSci offers a fairer alternative, incentivizing global community participation.

Decentralized management of intellectual property: Through blockchain technology, IP in scientific research can be transparently recorded and distributed, enhancing the transparency and efficiency of innovation.

Rapid growth of the biotechnology industry: According to industry research, the global biotechnology market is expected to reach $850 billion by 2025, with an annual growth rate exceeding 7%. DeSci platforms can capture a share of this market.

Strong unmet market demand: From the patients' perspective, they suffer from pain and yearn for faster access to innovative treatment options, while also wanting to deeply participate in research decisions to voice their fate; some scientists have brilliant ideas but seek sufficient funding support and efficient collaboration platforms; investors are looking for emerging investment opportunities in the market, and DeSci appears to be a gold mine waiting to be tapped, perfectly meeting the urgent needs of all parties.

Traditional research models seem mired in a quagmire, long troubled by uneven funding distribution, slow results transformation, and high research thresholds. DeSci, leveraging cutting-edge concepts like blockchain and tokenization, opens a new paradigm for research. Currently, DeSci has attracted a flood of innovators and investors, with numerous projects springing up across diverse fields such as longevity, neuroscience, and biotechnology, attempting to reshape the research ecosystem and inject new momentum into human technological progress.

2. Development Plan

On January 4, 2025, BIO Protocol co-founder Paul Kohhaas released the January roadmap for BIO Protocol, which includes:

Ø Introducing 10 new DAOs;

Ø Launching Rust and EVM startup platform contracts;

Ø Cross-chain transfer of $BIO to Solana and Base;

Ø Launching the genesis projects of Curetopia and Long COVID Labs;

Ø Initiating DeFi liquidity pairing;

Ø Releasing DeScAI agents (in collaboration with Vita DAO);

Ø Conducting the token generation event (TGE) for Quantum Biology DAO;

Ø Starting platform audits.

Recent goals for BIO Protocol:

Ø Further expand the BioDAOs network, attracting more participation from scientists, patients, and the cryptocurrency community;

Ø Launch user-friendly tools and platforms to lower the technical barriers for user participation;

Ø Support the active development of the ecosystem through the $BIO token incentive mechanism.

Long-term goals for BIO Protocol:

Ø Become a leader in the DeSci field, establishing a decentralized network for scientific research on a global scale;

Ø Promote the market transformation of research results funded by BioDAOs, achieving a win-win for economic and social benefits;

Ø Collaborate with government agencies and traditional research organizations to further promote decentralized research models.

4. Conclusion

BIO Protocol is an important innovator in the DeSci industry, providing a fair and transparent collaboration platform for researchers, investors, and patient communities by building a decentralized biotechnology research and commercialization ecosystem. Its comprehensive token economic model and strong collaborative network give BIO Protocol significant potential in the rapidly growing DeSci market.

Considering market demand, the project team's background, and industry development trends, the long-term investment value of $BIO is high. Initial price fluctuations may be significant, but its unique ecological value is expected to gradually emerge over the long term. Additionally, as the first DeSci project to issue tokens on the Binance platform, it is recommended to assign a certain valuation premium. Investors can allocate $BIO according to their risk preferences.

The DeSci industry is still in its early stages, but with the widespread application of blockchain technology and the increasing complexity of biotechnology research, decentralized research funding and commercialization models are expected to become one of the mainstream trends in the future. The success of BIO Protocol may lead to more innovative DeSci projects joining this wave.

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