BIO Protocol Expands to Solana, Targeting the DeSci Market with $33M in Funding

BIO Protocol, a Binance Labs-backed decentralized science (DeSci) project, is expanding to Solana. Leveraging Solana's scalability and low fees, this move could revolutionize the DeSci market.

BIO Protocol, a decentralized science (DeSci) project backed by Binance Labs, is set to expand its operations to Solana. This move, capitalizing on Solana's scalability and low transaction fees, could revolutionize the DeSci market. Backed by $33 million in funding, BIO Protocol aims to transform the funding and commercialization of early-stage scientific research.

Currently operating on Ethereum with seven "BioDAOs," BIO Protocol is expanding its presence by integrating with Solana and other blockchains. This launch marks a significant step in highlighting the growing potential of Solana's ecosystem in driving innovation within the DeSci domain.

The protocol is engaged in researching cryopreservation, women's health, and psychedelics for mental health. It plans to expand its research initiatives to cover chronic diseases and COVID. Notably, BIO Protocol's founder and CEO, Paul Kohlhaas, announced the Solana launch on X, hinting at potential airdrops to major pharmaceutical companies.

Moreover, BIO Protocol will be participating in the upcoming JP Morgan Healthcare Conference, showcasing the increasing convergence between digital assets and healthcare.

The DeSci sector is currently valued at $1.18 billion, with $185.6 million of tokens traded in the past 24 hours. Among the top DeSci tokens are OriginTrail (TRAC), VitaDAO (VITA), ResearchCoin (RSC), Hippocrat (HPO), and AxonDAO Governance Token (AXGT).

VITA and RSC have seen an impressive surge in the past seven days, with gains of 61% and 33%, respectively. In contrast, TRAC and AXGT faced declines of 11.4% and 5.7%, respectively. Other DeSci projects also experienced a downturn last week, with Urolithin A ($URO) falling 20.6% and Rifampicin ($RIF) crashing 13.6%. However, $RIF shot up 50% in the past 24 hours.

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