BIO Protocol Expands to Solana: What This Means for DeSci

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. With $33 million in funding, BIO Protocol aims to transform how early-stage scientific research is funded and commercialized.

Expanding Beyond Ethereum

Currently operating on Ethereum with seven “BioDAOs,” BIO Protocol is broadening its reach by expanding to Solana and other blockchains. This launch highlights the growing potential of Solana’s ecosystem in driving innovation in DeSci.

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

BIO Protocol will also participate in the JP Morgan Healthcare Conference next month, highlighting the growing convergence of digital assets and healthcare.

will propose we airdrop some to @Big_Pharmai for sure 💚 and maybe some others too

— Paul Kohlhaas bio/acc (@paulkhls) December 17, 2024

Is DeSci the Next Bullish Trend?

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

In the last seven days, VITA surged 61% and RSC skyrocketed 33%, while TRAC fell 11.4% and AXGT dropped 5.7%. Other DeSci projects also saw declines 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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