PANews reported on November 6 that Binance Labs announced an investment in BIO Protocol (BIO) to accelerate funding innovation in decentralized science (DeSci). BIO Protocol reshapes the way early scientific research is financed and commercialized through blockchain technology, providing a global community for scientists, patients, and investors to collectively fund, develop, and co-own new drugs and treatments. This round of financing will be used to expand the BioDAO ecosystem, provide seed funding for new BioDAOs, and strengthen community and token economic support. BIO Protocol's model is similar to the "Y Combinator of on-chain science", and its BioDAO network covers multiple fields including rare diseases, longevity research, and mental health, aiming to address key gaps in traditional scientific research funding. BIO currently has seven BioDAOs, and the next batch of projects will focus on the development of therapies to address long-term COVID-19 and rare diseases, as well as research on quantum microscopy.

BIO Protocol is currently conducting the second round of BIO Genesis, providing users with early access to $BIO tokens until the tokens are transferable. Users can redeem $BIO with ETH or DeSci tokens. BIO is committed to building on-chain scientific communities (BioDAOs) through DeFi mechanisms and real intellectual property (IP).