The BIO Association, a Swiss non-profit organization, has unveiled plans to launch BIO tokens ahead of its decentralized biotech network, BIO Protocol, according to a September 30 statement shared with Crypto.
The association aims to bridge the gap between biotechnology and crypto through its decentralized biotech network. This platform will serve as a launching pad for scientific communities in the chain.
It also aims to democratize access to scientific research and financing. Central to this goal is the creation of BioDAOs: community-led organizations that develop and fund scientific intellectual property.
The BIO Association emerged from Molecule AG, a Swiss company specializing in tokenization infrastructure for DeSci organizations.
Currently, the BIO Network is home to eight scientific communities focused on longevity, women’s health, neurodegeneration and synthetic biology. The initiative can therefore potentially transform the biotech industry by using blockchain technology and DeSci principles.
It is notable that the platform raised more than $5 million through an auction in August.
BIO token
The BIO Association has committed to a fair and transparent token launch, designed to reflect major token releases. This approach highlights the community’s commitment 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 origination phase will last 45 days or until the BIO token reaches a fully diluted valuation (FDV) of $100 million. After this period, the tokens are non-transferable until a board vote decides otherwise.
The token’s mainnet launch will take place on Ethereum, in line with other leading DeSci projects.
BIO token holders can vote on which new BioDAOs join the network. Additionally, they will gain 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.