Swiss nonprofit BIO Association to launch BIO tokens for decentralized biotech network News โธ Ethereum โธ Technology
Swiss nonprofit BIO Association to launch BIO tokens for decentralized biotech network
The Swiss biotech group plans BIO tokens to power decentralized research.
2 min read
Updated: Sep. 30, 2024 at 3:20 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The BIO Association, a Swiss nonprofit, has unveiled plans to launch BIO tokens ahead of its decentralized biotech network, BIO Protocol, according to a Sept. 30 statement shared with CryptoSlate.
The association seeks to bridge the gap between biotechnology and crypto through its decentralized biotech network. This platform will serve as a launchpad for on-chain science communities.
In addition, it aims to democratize access to scientific research and funding. Central to this goal is creating BioDAOsโcommunity-led organizations that develop and finance scientific intellectual property.
The BIO Association spun out from Molecule AG, a Swiss company specializing in tokenization infrastructure for DeSci organizations.
Currently, the BIO Network hosts eight scientific communities focused on longevity, women’s health, neurodegeneration, and synthetic biology. So, the initiative can potentially transform the biotech industry by leveraging blockchain technology and DeSci principles.
Notably, the platform has 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 mirror major token releases. This approach highlights the community’s dedication 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 genesis phase will last 45 days or until the BIO token reaches a fully diluted valuation (FDV) of $100 million. After this period, the tokens will be non-transferable until a governance vote decides otherwise.
The token’s mainnet launch will occur on Ethereum, aligning with other leading DeSci projects.
BIO token holders will be able to 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.
Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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