The BIO Protocol, a decentralized science (DeSci) initiative backed by Binance Labs, has taken a significant step in increasing its influence in the blockchain ecosystem. The project has proposed the inclusion of its BIO token into the Solana network, targeting Solana’s low transaction costs and scalability.
The concept includes token deployment on Solana, the establishment of a strong cross-chain bridge infrastructure, and the creation of a cross-chain liquidity pool using an additional one percent of ecological incentive funds. By expanding into Solana, Bio Protocol aims to enhance the accessibility and efficiency of early-stage scientific research.
The recent proposal suggests bridging the BIO token to Solana, deploying on-chain liquidity, and powering consumer products that enable scientists and patients to create and consume science in new ways. BIO Protocol tweeted the proposal on December 25, 2024.
This strategic decision aligns with BIO Protocol’s ongoing goal of revolutionizing the funding and commercialization of scientific research. Currently operating on Ethereum, the protocol focuses on various areas such as cryopreservation, women’s health, and psychedelic treatments for mental health through its seven-BioDAO network.
The integration of Solana is expected to expand the scope and impact of these community-driven scientific projects. It also aims to increase the popularity of the BIO token among investors and academics in the blockchain ecosystem, especially after Binance Labs’ investment in November 2024.
Bio Protocol has experienced significant growth since its inception, and this expansion is seen as a milestone in utilizing blockchain technology for scientific discovery. The financial support from Binance Labs was intended to accelerate DeSci funding.
The project has also gained attention for its ranking on Binance Launchpool, where users can stake tokens to grow BIO. Solana, in particular, has emerged as a strong competitor in the blockchain space, outperforming Ethereum and Bitcoin in various key criteria.
Glassnode reports that Solana’s price and trading volume have surpassed those of its larger counterparts. Additionally, the network has witnessed a consistent net capital inflow since September 2023, with daily new capital flowing into the ecosystem reaching $776 million.
At the time of writing, SOL is trading at approximately $193.83, experiencing a 2.67% decline in the last 24 hours, resulting in a market cap below $93 billion.
