The Next Big Crypto Utility? BIO Protocol’s Push to Bring Drug Discovery Onchain
Backed by top biotech players, BIO aims to develop a decentralized biotech network and incubate onchain science communities following a $5m+ public sale raise in August.
September 30, 2024 – Zug, Switzerland – BIO Association, a Swiss non-profit organization founded by key members of VitaDAO—the decentralized science (DeSci) organization backed by Pfizer Ventures and Balaji Srinivasan—today announced its community genesis and fair launch. The launch gives the public the opportunity to acquire BIO tokens using ETH or other DeSci tokens ahead of the BIO Protocol going live. BIO Association aims to develop a decentralized biotech network and serve as a launchpad for onchain science communities, bridging the biotechnology and cryptocurrency sectors. Currently, the BIO Network comprises eight different scientific communities focusing on areas such as longevity, women's health, neurodegeneration, and synthetic biology.
Democratizing Access To Scientific Research and Funding
BIO has the potential to revolutionize the biotechnology industry by democratizing access to scientific research and funding. By leveraging DeSci and blockchain technology, BIO enables the creation of BioDAOs—community-owned organizations that collaborate globally to develop and finance scientific intellectual property. This approach breaks down traditional barriers in biotech, accelerates innovation, and allows for more transparent and equitable participation from researchers, patients, and enthusiasts worldwide.
Fair Launch and Community Genesis
Embracing the spirit of early crypto launches like Ethereum, Solana, and Arweave, BIO Association is opting for a fair and public launch. This approach reflects the community's commitment to transparency and equal opportunity in the rapidly evolving DeSci space.
The BIO token gives holders the ability to participate in the selection of new BioDAOs incubated in the network as well as whitelisted access to fund new science from top universities and researchers, allowing anyone to become an early stakeholder in new drugs and products developed in the BIO Network.
As attention on DeSci is mounting, innovations in the BIO ecosystem are attracting funding at a growing pace. Success stories include VitaRNA, a new gene therapy targeting aging, which recently experienced an 150% jump in value in a single day following positive results on in-vitro tests. In tandem, DeSci DAO tokens in the BIO ecosystem are on the rise, such as HairDAO’s token, which has grown over 10x since its 2023 launch.