The world's largest cryptocurrency exchange Binance announced on the evening of December 23 that Binance will launch the 63rd new coin mining project BIO Protocol (BIO) on its Launchpool. Users can start depositing BNB and FDUSD into the BIO pool from 8:00 am Taiwan time on December 24, 2024 to participate in the 10-day new coin mining activity.
After the new coin mining ends, Binance will also list BIO spot trading at 6:00 pm Taiwan time on January 3, 2025, and open BIO/USDT, BIO/BNB, BIO/FDUSD, BIO/TRY trading pairs, and add a seed label for it.
BIO Pool Details
According to the Binance announcement, the details of the BIO new coin mining include:
- Token Name: BIO (BIO Protocol)
- Total Initial Supply: 3,320,000,000 BIO
- Maximum Supply: 3,320,000,000 BIO (can be increased through network governance)
- Launchpool Total: 99,600,000 BIO (3% of the total initial supply)
- Initial Circulating Supply at Spot Listing: 1,296,529,168 BIO (39.5% of the total initial supply)
- Token Contract Network: Ethereum
- Restriction: KYC required
- Individual Hourly Mining Cap: BNB Pool: 35,275 BIO; FDUSD Pool: 6,225 BIO
Note: For how to participate in Binance Launchpool, please refer to》Complete Tutorial on Binance "New Coin Mining"
What is BIO Protocol?
BIO Protocol is a DeSci (Decentralized Science) project that aims to become the "Y Combinator" (the largest accelerator in Silicon Valley) for on-chain science. BIO's goal is to enable the global community of scientists, patients, and investors to collectively fund, develop, and own new drugs and therapies through its Biological Technology Decentralized Autonomous Organization (BioDAO) network. The protocol's innovative approach addresses key gaps in traditional scientific research financing, particularly in rare diseases, longevity science, and emerging health challenges.
It is worth mentioning that a group of well-known cryptocurrency and biotech venture capital firms have invested in BIO Protocol, including 1kx, Boost VC, Sora Ventures, Zee Prime Capital, and the $3 billion biotech fund Northpond Ventures. In addition, Binance also announced an investment in BIO Protocol in early November, which is also seen as Binance's first foray into the DeSci field.
BIO Protocol Roadmap and Token Economics
While celebrating the launch of BIO Protocol on Binance, the BIO Protocol team also published its project roadmap and token economics on Twitter, which include:
1. Roadmap
- BIO TGE will be held on January 3
- BIO will be launched on Solana and Base chains
- BioDAO will release new projects
- BIO/BioDAO liquidity pool
- New BIO Launchpad coming soon
2. Token Economics
- 56% allocated to ecosystem and community
- 25.4% allocated to early contributors
- 18.6% allocated to early supporters
DeSci Related Tokens Surge
Driven by the launch of BIO Protocol on Binance Launchpool, several tokens in the DeSci field have also seen significant short-term price increases, such as these three meme coins on the Solana public chain:
- RIF: Surged 15.4% in the short term, currently priced at $0.05178
- URO: Surged 14.8% in the short term, currently priced at $0.0456
- DRUGS: Skyrocketed 153.9%, currently priced at $0.03841
Additionally, according to CoinGecko data, the current total market cap of the DeSci field is around $108 million, up 8.5% in the past 24 hours, with popular trading tokens including VitaDAO, ResearchCoin, URO, and others.
BNB Breaks $690
Additionally, Binance's platform token BNB also saw an increase after the announcement, and continued to rise after a recent Bitcoin rebound, currently trading at $691, up 7.2% in the last 24 hours.
