Bio Protocol

Bio Protocol is a protocol in the decentralized science (DeSci) space that aims to enable communities to fund and govern biotechnology and medical research. The project makes it easier to set up, fund and connect communities called BioDAOs, which focus on specific diseases or research areas. Although it is tagged as a layer-one blockchain in the catalogue, Bio Protocol is not a network with its own chain but an ecosystem that runs on the BIO token issued on Ethereum.

BIO holders vote on decisions such as which new BioDAOs are supported and brought into the ecosystem and how the shared treasury is used. Supported communities fund research projects, and the intellectual property rights arising from these projects can be represented on-chain. The protocol places BIO at the centre of processes such as participation in the distribution of new BioDAO tokens and the provision of liquidity.

The BIO price is sensitive to factors such as the progress of supported research projects, interest in the decentralized science theme, token unlocks and regulatory uncertainty around research funding. Lzzo.com takes Bio Protocol's dollar price from BIO/USDT trades on Binance, converts it at Coinbase Exchange's USDT/USD rate and presents it on the chart.