Binance Launchpool continues to lead in the cryptocurrency world. It introduces new projects. The latest project is Bio Protocol (BIO). It aims to transform scientific research by using decentralized methods. Bio Protocol is now available on Binance Launchpool.
Binance, a leading cryptocurrency exchange, has added Bio Protocol (BIO) as the 63rd project on Binance Launchpool. This shows Binance’s commitment to supporting innovative projects in crypto. Bio Protocol aims to change scientific research using decentralized methods, focusing on Decentralized Science (DeSci). This article will explain the project and how users can farm BIO tokens on Binance Launchpool.
What is Binance Launchpool?
Binance Launchpool lets users earn new tokens. Users can stake existing cryptocurrencies like BNB and FDUSD. It helps users earn passive income. It also helps new projects reach more people. Since it started, Binance Launchpool has featured many projects. With Bio Protocol, it continues to add more options.
Farming BIO Tokens on Binance Launchpool
Starting on December 24, 2024, at 00:00 (UTC), Binance users can earn BIO tokens by staking BNB and FDUSD.
- Total Rewards: 99.6 million BIO tokens (3% of the total genesis supply).
- BNB Pool: 84.66 million BIO tokens (85% of total rewards).
- FDUSD Pool: 14.94 million BIO tokens (15% of total rewards).
Each day, 9.96 million BIO tokens will be distributed. The BNB pool will receive 8.466 million BIO tokens daily, while the FDUSD pool will receive 1.494 million BIO tokens daily. To ensure fair distribution, hourly caps have been set for users:
- BNB Pool: 35,275 BIO tokens per hour.
- FDUSD Pool: 6,225 BIO tokens per hour.
Upcoming Listing and Trading Pairs
Once the farming period ends, Binance plans to list BIO tokens on January 3, 2025, at 10:00 (UTC). The following trading pairs will be available:
- BIO/USDT
- BIO/BNB
- BIO/FDUSD
- BIO/TRY
At the time of listing, the initial circulating supply of BIO tokens is projected to be approximately 1.296 billion, accounting for 39.05% of the total genesis supply.
Understanding Bio Protocol (BIO)
Bio Protocol serves as a curation and liquidity platform within the DeSci ecosystem. The main goal is to make scientific funding and resources available to everyone by using blockchain technology. This new approach lets researchers from all over the world work together on scientific projects and share resources.
The protocol aims to fix issues in scientific funding by using a special liquidity pool for token swaps, which helps keep prices stable. Part of the fees from this pool will be used to fund scientific research projects in its ecosystem.
Tokenomics and Distribution
The total supply of BIO tokens is capped at 3.32 billion, with allocations designed to support various stakeholders:
- 56% allocated for ecosystem and community development.
- 25.4% designated for early contributors.
- 18.6% reserved for early supporters.
This distribution strategy highlights Bio Protocol’s commitment to fostering a robust community around decentralized scientific research while ensuring that contributors are adequately rewarded.
How to Participate in Binance Launchpool
To participate in farming BIO tokens on Binance Launchpool, users must follow these steps:
- Log in to your Binance account.
- Navigate to the Launchpool section.
- Select the Bio Protocol project.
- Choose whether to stake BNB or FDUSD.
- Confirm your staking amount and start farming.
Users can track their staking rewards in real-time. They can claim them once they reach the amount they want.
In conclusion, Binance Launchpool’s addition of Bio Protocol (BIO) is another step in its mission to support innovative projects in crypto. By using blockchain technology to change scientific research, Bio Protocol shows the power of decentralized solutions to tackle real-world problems.
With attractive rewards, clear tokenomics, and a user-friendly participation process, the project provides an exciting opportunity for Binance users to engage with the emerging DeSci movement. Don’t miss your chance to be part of this innovative journey—start farming BIO tokens today!
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