Whatâs BIO Protocol Up To?
With its Binance listing coming up on the 3rd of January, BIO Protocol has been making the right kind of noise in the DeSci industry. It wonât be wrong to say that they have been leading the space up until now. Especially since the Binance Labs investment in November, after which CZ, Vitalik and others have started showing interest in the field.
BIO Protocol is a launchpad and liquidity protocol for DeSci DAOs, growing and funding the next generation of scientific research DAOs. What does it mean?
To understand that, we need to look at how BIG the problem actually is. Pharma is not delivering drugs fast or cheap enough. In other words, the system is not good enough so itâs time to decentralise it. 90%+ new drugs have failed before coming to market. It already takes more than $2.6B and 10 years to develop a new drug. Imagine the loss of time, money and resources this creates.
This is where BIO comes in.
Rather than the top-down structure of Academia and Big Pharma, BIO accelerates science from the ground-up through community consensus. It enables global communities of scientists, patients, and investors to collectively fund, develop, and co-own promising new drugs and therapeutics through its network of Biotech Decentralized Autonomous Organizations (BioDAOs).
Each BioDAO focuses on a particular therapeutic area, like Long Covid, Rare Diseases or Aging.
The BIO protocol incubates and accelerates BioDAOs â from creation to funding, incentives, liquidity and beyond, taking a percentage stake in each incubated BioDAO.
40M+ in Tokenized IP Market Cap
$7M+ in Funded Science:
The pharma giant PFIZER joined VitaDAO and even voted on proposals.
The total market cap of BioDAOs has grown from $100M to $230M in just a few years.
In the season of memes, this narrative is like a breath of fresh air, taking us right where crypto is meant to be.
