South Korea's leading cryptocurrency exchange Upbit has announced that it will support KRW, BTC, and USDT trading pairs for a new digital asset, Bio Protocol (BIO).
Upbit to List Bio Protocol (BIO) on KRW, BTC, and USDT Markets
According to the exchange's announcement, deposits and withdrawals for BIO will be available within two hours of the announcement. Spot trading support will begin at 6:00 PM on October 20th. Bio Protocol runs on the Ethereum network, and transfers from other networks will not be supported.
The statement also stated that certain trading restrictions will be implemented at the start of trading. Buy orders will be temporarily suspended for the first five minutes, and sell orders will not be allowed to trade 10 percent below the previous closing price. Furthermore, only limit orders will be accepted during the first two hours of trading support.
Bio Protocol is a decentralized financial and operations infrastructure that supports the financing and commercialization of early-stage biotechnology research. The platform aims to create a community-driven research ecosystem where researchers, investors, and patients participate together.
The project hosts over 10 bio-DAOs within its ecosystem, including VitaDAO, AthenaDAO, and PsyDAO, enabling on-chain biotechnology research. The BIO token will be used for staking, governance, project investment, and access to automation tools.
Upbit warned investors to only invest in BIO via the official Ethereum address (0xcb1592…) and noted that investments due to network errors may take a long time to be refunded.
*This is not investment advice.
