Official Announcement from Upbit

Upbit stated in its announcement:

“The listing of Bio Protocol in the KRW market will allow our users to securely access a wider range of digital assets. As Upbit, we will continue to provide a transparent and reliable trading environment.”

Exchange officials noted that BIO’s innovative infrastructure and expanding ecosystem could create long-term opportunities for investors.

What Is BIO Protocol (BIO)?

BIO Protocol (BIO), through the BioDAO network, enables scientists, patients, and investors to jointly fund, develop, and own medicines and treatments. Recently, Binance Labs announced its investment in BIO Protocol, a pioneering project transforming how early-stage scientific research is funded and commercialized using blockchain technology. This marks Binance Labs’ first entry into the Decentralized Science (DeSci) sector, signaling optimism for the industry’s future.

BIO Price Surges Following Listing News

After the announcement, BIO’s price quickly entered an upward trend. On-chain data shows that trading volume multiplied shortly after the listing news. Market analysts point out that Upbit listings often trigger high volatility and strong demand during the first hours of trading.

“Tokens listed on Upbit usually receive strong support from the Asian market. A similar price reaction is being seen with BIO.”
— CryptoQuant Asia Analyst

A New Wave of Excitement Hits the Market with BIO Listing

Set to begin trading on Upbit’s Spot KRW market, BIO has become one of the most notable listings of the week. The price surge and strong investor interest have quickly pushed BIO to the forefront of the market’s attention in the short term. According to experts, trading volume and price movements in the coming days will be key factors in determining BIO’s short-term trend.

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Coinbase Listing and Bio Protocol V2 Launch Effect

One of the biggest catalysts behind this sudden rise was the listing of the BIO token on Coinbase. Being listed on one of the world’s largest exchanges typically increases a token’s liquidity and visibility. The BIO token gained strong momentum from this development, appreciating more than 30%.

At the same time, the launch of Bio Protocol V2 also emerged as another factor boosting investor confidence. With the new version, the platform’s funding mechanisms, user experience, and overall infrastructure were significantly upgraded.

Ignition Sale Model and First Bioagent Launch

The Ignition sale model introduced by Bio Protocol has started to gain serious interest, especially for DeSci (Decentralized Science) projects. Thanks to this model, scientific projects can be funded more efficiently, with early funding rounds progressing in a community-driven manner. The first bioagent launch, expected to take place in August, is seen as a major milestone.

What Is Bio Protocol (BIO)?

BIO Protocol offers a system that enables global communities of scientists, patients, and investors to come together to develop and co-finance new drugs and therapies. This structure operates through decentralized biotech organizations known as BioDAOs.

The protocol particularly focuses on areas where traditional scientific funding is lacking—such as rare diseases, longevity research, and emerging health threats. At the heart of this DeSci economy lies the BIO token, which acts as a governance token. It allows holders to signal support for specific BioDAO projects and gain early access to their initial funding rounds.

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This strategic move by Coinbase aims to increase market liquidity and provide opportunities for diversified investments in different digital assets. As Venice Token (VVV), Cookie DAO (COOKIE), and Bio Protocol (BIO) continue to gain popularity in the crypto world, this new perpetual futures market will offer investors more options and strategies.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

The perpetual futures markets will allow investors to take long and short positions, providing flexibility to create investment strategies based on market conditions. The launch of these new markets aims to further boost Coinbase‘s global trading volume and attract a variety of investor groups.

With this move, Coinbase is strengthening its position in the market and offering more opportunities for traders. Additionally, the new perpetual futures market will enhance the trading experience in the highly volatile cryptocurrency market.

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Recently, Binance Labs announced its investment in BIO Protocol (BIO), a pioneering protocol transforming the way early-stage scientific research is funded and commercialized using blockchain technology. This investment marks Binance Labs‘ first step into the Decentralized Science (DeSci) sector, signaling promising potential for the future of the industry.

So, What Does BIO Protocol Promise?

BIO can be thought of as a Y Combinator for on-chain science. The platform enables a global community of scientists, patients, and investors to collectively fund, develop, and co-own new medicines and treatments through the network of Biotechnology Decentralized Autonomous Organizations (BioDAOs).

The protocol’s innovative approach addresses critical gaps in traditional scientific funding, particularly in areas like rare diseases, longevity research, and emerging health issues.

Currently, BIO’s network consists of seven BioDAOs, focusing on various fields such as cryopreservation, women’s health, and psychedelics for mental health.

The next group of projects within the protocol includes efforts to accelerate treatments for COVID and rare diseases, as well as the development of quantum microscopes to observe quantum biological phenomena.

This will further expand the reach and impact of community-driven science.

This new funding will support the expansion of the BioDAO ecosystem, provide seed funding for new BioDAOs, and strengthen the network of service providers offering community and token economics support.

This will help realize BIO’s vision of creating an autonomous infrastructure for scientific funding and acceleration, supported by advancements in artificial intelligence, drug design, and open-source computational biology.

Andy Chang, Investment Director at Binance Labs: 

“BIO Protocol represents a significant step forward in DeSci by combining biotechnology and DeFi. At Binance Labs, we are committed to unlocking groundbreaking advancements that create long-term, real-world impact by supporting projects that build meaningful technologies; this approach closely aligns with our investment in BIO.”

What Is BIODAO?

BioDAOs are community-owned intellectual property (IP) creation engines focused on a specific area of biotechnology. These DAOs develop and commercialize biotechnology IP by minting IP-NFTs and IP Tokens (IPTs), establishing companies, and licensing IP to traditional biotech firms.

The proceeds generated are returned to the bioDAO treasuries to fund the next generation of R&D and advance the bioDAO’s mission.

BioDAOs typically focus on emerging scientific fields where liquidity is limited, talent and data are scattered, and traditional biotech companies are not yet ready to invest, but are willing to de-risk.

For example, they operate in areas such as longevity (VitaDAO), women’s health and fertility (AthenaDAO), and synthetic biology (ValleyDAO).

To date, bioDAOs have emerged from leading university research labs such as Newcastle University, the University of Copenhagen, and Imperial College London, receiving support from prominent biotech venture capital firms like Pfizer Ventures, Northpond Ventures, and Fifty Years, as well as crypto and biotech leaders like former Coinbase CTO Balaji Srinivasan and Filecoin founder Juan Benet.

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BIO Launch Details

The maximum token supply for Bio Protocol (BIO) is set at 3,320,000,000 BIO, which can be increased through network governance. The total genesis token supply is also 3,320,000,000 BIO. A total of 99,600,000 BIO, equivalent to 3% of the genesis supply, will be distributed as rewards through Binance Launchpool. Upon listing on Binance, the initial circulating supply will be 1,296,529,168 BIO, representing 39.05% of the genesis supply.

Farming Period and Rewards

The farming period will run from December 24, 2024, to January 2, 2025. The total daily reward amount is set at 9,960,000 BIO, with 85% allocated to the BNB pool (8,466,000 BIO) and 15% to the FDUSD pool (1,494,000 BIO). Users can claim their rewards, which are calculated hourly, directly into their spot accounts.

BIO Token Listing and Trading Pairs

The BIO token will be listed on Binance on January 3, 2025, at 10:00 (UTC). Trading will be available for the following pairs: BIO/USDT, BIO/BNB, BIO/FDUSD, and BIO/TRY. Additionally, the Seed Tag label will be applied to the BIO token.

Users can participate in the farming event by locking BNB and FDUSD in the respective pools. However, the same tokens cannot be locked in multiple pools simultaneously. At the end of the farming period, any locked tokens and unclaimed rewards will be automatically transferred to users’ spot accounts. Due to local regulations, users in certain countries, such as Australia, Canada, the United States, North Korea, and Iran, will not be eligible to participate.

The APY and total pool balance for each pool will be updated in real time. Binance reserves the right to disqualify participants engaging in fraudulent activities. Additionally, users must complete KYC verification to participate in the Launchpool.

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