The BIO Association, a Swiss non-profit organization, has revealed plans to launch BIO tokens ahead of its decentralized biotechnology network, BIO Protocol, according to a September 30 release shared with CryptoSlate.
The association seeks to bridge the gap between biotechnology and cryptography through its decentralized biotechnology network. This platform will serve as a launchpad for on-chain scientific communities.
In addition, it aims to democratize access to scientific research and funding. At the heart of this goal is the creation of BioDAOs, community-led organizations that develop and fund scientific intellectual property.
The BIO association comes from Molecule AG, a Swiss company specializing in tokenization infrastructure for DeSci organizations.
Currently, the BIO Network hosts eight scientific communities focused on longevity, women’s health, neurodegeneration, and synthetic biology. Thus, the initiative can potentially transform the biotechnology industry by leveraging blockchain technology and DeSci principles.
Notably, the platform raised more than $5 million through an auction in August.
BIO token
The BIO Association is committed to a fair and transparent token launch, designed to reflect major token releases. This approach highlights the community’s dedication to equal opportunity in the growing DeSci space.
Once the tokens are launched, users will be able to acquire BIO tokens using ETH or other DAO tokens within the BIO network.
The genesis phase will last 45 days or until the BIO token reaches a fully diluted valuation (FDV) of $100 million. After this period, tokens will not be transferable until a governance vote decides otherwise.
The token’s mainnet launch will take place on Ethereum, consistent with other prominent DeSci projects.
BIO token holders will be able to vote for which new BioDAOs join the network. Additionally, they will benefit from whitelisted access to science-focused funding from top universities and researchers.
Meanwhile, early BIO Genesis token holders include ZeePrime Capital, Beaker DAO, Boost VC, 1kx, ID Theory, Compound, Cherry Crypto, L1D, Fifty Years, Northpond Ventures, KdT Ventures, Sora Ventures, and The LAO.
