BIO Protocol
Last updated
Last updated
BIO protocol is a new financial layer for decentralized science aimed at accelerating the flow of capital and talent into onchain science.
The protocol is designed to catalyze an onchain economy of scientific communities (bioDAOs) and create deep, liquid, efficient markets for scientific IP developed by bioDAOs.
Curation, creation and acceleration of new bioDAOs funding science onchain.
Perpetual funding and liquidity for bioDAOs and onchain biotech assets.
Standardization of bioDAO frameworks, tokenomics and data/product suites.
Generation and commercialization of scientific IP and data.
To achieve these goals, the BIO protocol has 5 core operations:
Curation
Funding
Liquidity
Bio/acc Rewards
Meta-Governance
BIO token holders participate in curating which new BioDAOs join the ecosystem, enabling a bottom-up approach to funding science. The BioDAOs that are selected by the community are then funded, added to the treasury and ultimately supported by the BIO protocol. As the BIO Protocol relies on high quality BioDAOs, curation requires locked BIO to participate, ensuring that those participating are long-term aligned with the network.
Using vBIO (locked BIO), BIO holders will have the ability to pledge their conviction in a new DAO applicant that is presented to the BIO Protocol by “Operators” (network stakeholders who support the incubation phase of a BioDAO).
BIO holders use vBIO tokens to pledge which BioDAOs they want accepted, and if a DAO they’ve pledged on is voted in, the stakers get access to whitelisted funding rounds, and privileged access to the DAO’s products, data or services.
If the BioDAO applicant is accepted into the BIO Network, all vBIO stakers who pledged to that BioDAO will have the ability to participate in the initial private auction - a whitelisted pre-seed round.
Through BIO, users are thus able to support groundbreaking science from day one, on equal to or better terms than VCs or other institutions. For BioDAOs, this creates an opportunity to align a pre-established high-value scientific community to become network participants for that specific field of research.
BioDAOs should focus on science, not managing liquidity. BIO alleviates this issue by managing bioDAO secondary market liquidity positions.
The BIO protocol can support onchain liquidity for the BIO network using the BIO token and other token holdings in the BIO treasury.
The BIO token can be paired in liquidity pools with BioDAO tokens (e.g., VITA/BIO, HAIR/BIO), as well as with other assets (e.g., BIO/ETH) to facilitate low-cost conversions in the network, accruing fees and building protocol-owned liquidity (POL).
The BIO protocol can issue rewards in the form of BIO tokens (“bio/acc rewards”) that incentivize bioDAOs to reach key milestones designed to increase network value (AUM).
BIO holders might choose to use bio/acc rewards to incentivize bioDAO milestones like funding a certain value of onchain science, maintaining a certain level of token liquidity, developing IP that reaches clinical trials, or generating sales from consumer products/services.
The BIO protocol will hold various BioDAO tokens in its treasury and can therefore serve as a meta-governance layer empowering BIO holders to govern a wide range of BioDAOs and scientific IP assets.
The BIO treasury accrues value through a variety of mechanisms, including:
BIO Network provides incubated BioDAOs with a $100,000 grant in exchange for 6.9% of the BioDAO’s token supply. These token allocation accrue in the BIO Treasury, growing protocol AUM as the network underlying DAOs rise in the value. The BIO treasury can also receive allocations of bioDAO scientific IP assets.
The BIO treasury accrues fees and yields from its onchain liquidity in BIO tokens, BioDAO tokens, IP tokens, ETH, and other assets, building POL.
The BIO token can be used for the following purposes:
Curate BioDAOs to join the BIO protocol programs
Priority access to BioDAO token sales and IP-token sales
Discounts on BioDAO health products/services
Meta-governance in BioDAOs
Vote on BIO emissions, treasury allocation, and protocol updates
