Author: Bankless

Translated by: Felix, PANews

On the eve of the BIO Protocol token launch, the prices of tokens in the DeSci (Decentralized Science) ecosystem have skyrocketed.

As the boundaries between cutting-edge technologies like DeSci and AI become increasingly blurred, this trend has continued until the launch of BIO, reflected in the tokens associated with these technologies. As a key hub for DeSci financing, the launch of BIO has brought hope to DeSci, generating enthusiasm from the outside world for this highly experimental field, and over time attracting more attention and capital to DeSci.

This article will delve into how the BIO Protocol works, the challenges it aims to address, and the DAOs operating under its protection. It will then explore how other projects fill the DeSci narrative and provide additional tools or use cases to transform the ways scientific collaboration and funding occur.

BIO Protocol

The BIO Protocol is essentially a decentralized, token-managed platform that supports and incubates specialized BioDAOs. By incorporating funding decisions, intellectual property ownership, and governance on-chain, BIO directly addresses several long-standing barriers in the biotechnology field:

• Helping early-stage projects escape the "valley of death," where lack of funding often hinders promising ideas from materializing.
• Tokenizing research outcomes to promote open access and transparent collaboration, resisting data and intellectual property silos.
• Replacing opaque R&D with real-time on-chain funding flows and outcome tracking.

To achieve these goals, BIO implements several core mechanisms:

Curation

BIO holders lock their tokens (vBIO) to help determine which new BioDAOs are allowed to join the network. This process ensures that only the most promising or community-supported ventures are admitted, as those committing to support must stake BIO for a certain period. If approved, stakers can exclusively participate in the funding rounds of the BioDAO.

Funding and Liquidity

After completing the curation phase, BioDAOs open private seed pre-auctions for those who have locked vBIO.

This allows early supporters of the DAO and the BIO community to invest in early scientific research under terms traditionally reserved for VCs. Meanwhile, the BIO Protocol manages liquidity on behalf of these BioDAOs, eliminating the need to oversee secondary markets. The BIO treasury pairs tokens (i.e., VITA/BIO or HAIR/BIO) with ETH or other assets to generate fees for the protocol while ensuring stable trading pairs. This arrangement allows BioDAOs to focus on advancing research rather than being preoccupied with market operations.

Meta-Governance

Since the BIO treasury holds a portion of each BioDAO's tokens, BIO holders collectively gain influence within the broader DeSci ecosystem.

This meta-governance structure enables them to guide decisions across multiple BioDAOs, whether determining research priorities or emphasizing synergies between projects. Additionally, by diversifying the assets held by the treasury, the protocol enhances its ability to invest in new projects and reinvest in existing ones, facilitating seamless coordination in the ever-expanding field of scientific research.

Yield Provision

To incentivize clear and measurable contributions to its network, BIO issues "bio/acc rewards" in the form of additional BIO tokens to BioDAOs that achieve key milestones. In addition to these incentives, BioDAOs can also tokenize their IP (from research data to patents). By issuing IP tokens, BioDAOs can grant partial ownership of their research outcomes, allowing more stakeholders to benefit from future scientific breakthroughs while retaining control over key decisions and potentially earning from the use of their data.

Beyond direct incentives, the overall value of the network also grows through token distribution and liquidity owned by the protocol. Grants to new BioDAOs can be exchanged for a small equity stake in their tokens, while liquidity pool fees flow back to the treasury. As BioDAOs mature and produce tangible results, the total value of these assets will increase, reinforcing a virtuous cycle of funding, growth, and innovation.

BioDAOs in BIO

Currently, there are eight active BioDAOs within the BIO network, each focusing on specific research areas.

• VitaDAO | $VITA

Launched in 2021, VitaDAO supports research aimed at extending human lifespan. Funded by Pfizer Ventures and Balaji Srinivasan, it explores the biological mechanisms of aging, including neurodegenerative diseases.

• Quantum Biology DAO

Quantum Biology DAO studies how weak magnetic fields affect cells at the quantum level. It collaborates with the Quantum Biology Institute to develop quantum microscopes, opening new avenues for longevity research, drug discovery, and more.

• HairDAO | HAIR

HairDAO unites patients, researchers, and funders to collaboratively address the resource-scarce issue of hair loss.

• ValleyDAO | $GROW

ValleyDAO is dedicated to seeking synthetic biology solutions to combat climate change, such as engineering microorganisms to capture carbon dioxide or produce biodegradable materials.

• AthenaDAO | $ATH

AthenaDAO focuses on women's health, filling gaps neglected by traditional funding. Through a decentralized community of patients, scientists, and advocates, it supports projects on reproductive health, hormonal disorders, and other under-researched topics in female biology.

• CryoDAO | $CRYO

CryoDAO allocates funds for cryopreservation research to improve the storage of organs and tissues, a solution with life-saving potential.

• PsyDAO | $PSY

PsyDAO focuses on psychedelic research for mental health issues such as depression, addiction, and PTSD. It accelerates the exploration of new compounds using a decentralized funding model and AI-based auditing, while on-chain governance ensures transparency in resource allocation.

• CerebrumDAO | $NEURON

CerebrumDAO convenes a global community to jointly prevent neurodegeneration and extend brain health. It studies diseases like Alzheimer's, focusing on inflammation, metabolic issues, the blood-brain barrier, and their impacts.

Other DeSci Projects

Beyond the BIO Protocol ecosystem, there are many interesting DeSci projects that bring new platforms or tools for scientific discovery.

ResearchHub Foundation

The ResearchHub Foundation, founded by Coinbase CEO Brian Armstrong and Patrick Joyce, utilizes RSC to create an open platform for publishing and reviewing science. Contributors earn RSC by publishing research, curating content, or facilitating discussions. The platform aims to establish a "GitHub for scientific research," designed to streamline peer review, encourage open sharing, and bring real-time accountability to academic publishing, all achieved through token incentives. RSC holders can also vote on platform improvements and reward distributions.

yesnoerror

Yesnoerror is a decentralized platform that combines AI with community-driven oversight to enhance the reliability of scientific papers. Its AI engine continuously scans for inaccuracies in research (whether in data, statistical analysis, or references) and flags potential issues for further review. Community members who verify or correct these errors will earn YNE tokens, creating intrinsic incentives for thorough review and timely feedback.

Overall, YNE aims to detect issues early to prevent erroneous conclusions, reduce the risks of poor policy decisions and research waste, and develop an AI that can learn from users to better detect problems across a range of scientific fields.

pump.Science

Pump.science is a DeSci platform aimed at identifying and developing chemicals that can extend human healthspan. It hopes to gamify research by conducting low-cost tests on simple organisms (worms, flies) before using complex models (mice). This approach can identify promising interventions early, using cryptocurrency-based funding to propose or invest in new compounds. By live-streaming experiments, the protocol provides real-time data, allowing researchers and speculators to track results and potentially adjust their support as research progresses.

Conclusion

The token launch of the BIO Protocol has made the DeSci field a market focal point, showcasing how a new generation of on-chain initiatives can reshape R&D in biotechnology and beyond.

Outside the BIO ecosystem, other DeSci projects demonstrate complementary strategies for enhancing scientific research through blockchain. From ResearchHub's open collaboration platform to yesnoerror's AI-based paper auditing and pump.science's gamified longevity trials, these projects explore the intersection of science and crypto from different angles. Collectively, they point to a rapidly evolving DeSci landscape where shared governance, financial coordination, and real-time data sharing could lead to new breakthroughs.

Whether addressing funding bottlenecks, streamlining peer review, or discovering longevity molecules, DeSci solutions have bold goals, enabling a broad and proactive community to explore discoveries and ultimately accelerate the world's benefit from the next wave of scientific innovation.

Related reading: In-depth report on BIO Protocol: A decentralized science (DeSci) platform supported by Binance

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