Price Feed Request: Bio Protocol (BIO)

Price Feed Council
1

Abstract

  • Project Overview:

    • Bio is a new financial layer for funding and developing early-stage biotech. Our mission is to reshape how biotech breakthroughs are born by enabling global communities of patients, researchers and crypto users to create user-owned research networks that fund and develop new and emerging biotechnologies from day one​.
    • At its core, Bio is designed to help scientists raise funds for their research, create value from that research, and capture and distribute that value via commercial successes.
    • By breaking down traditional biotech barriers and introducing a permissionless framework, Bio can accelerate life-saving discoveries while making them more accessible to all.

  • History and Development:

    • Has been providing liquidity and launchpad services for on-chain scientific research DAOs since 2022 as part of Molecule AG. Spun out of Molecule AG as its own Protocol at the start of 2024.
    • Since then has been building out a liquidity protocol, launchpad services and DAO tooling for DAOs funding and managing scientific research

  • Achievements and Accolades:

    • Token and LaunchpadV1 launch on 3 chains: Ethereum, Solana, BASE
    • Funded 10 scientific DAOs with more than $30m in assets

  • Partnerships:

Rationale

  • Volume and Listing Venues:

    • Coingecko Information: Global Total 24h trading volume: est. $22M as of 4th April
    • DEX:
    • CEX:
      • Binance - Total 24 Volume: $2.71M as of 4th of April
      • OKX - Total 24 Volume : $400k as of 4th of April
      • BitGet - Total 24 Volume : $6.12M as of 4th of April
      • MEXC - Total 24 Volume: $1.5M as of 4th of April
      • Gate.io - Total 24 Volume : $1.5M as of 4th of April
      • HTX - Total 24 Volume : $1.89M as of 4th of April
      • Many more Full list at Coinmarketcap here

  • Use Cases:

    • Launchpad implementation: Launching bio/DAO pools on DEX after a fundraising stage of our protocol at the proper valuations. Price feed is used to get realtime data on current token prices for proper price setting. Docs of the launchpad: Launchpad | BIO
    • An implementation with borrowing and lending protocol morpho is also discussed. Bio would be used as collateral for borrowing stable assets.

  • Protocols and Applications:

    • Bio Protocol
    • Morpho

  • Verticals:

    • DeSci
    • DeFi

Proposed Plan

  • Monetary Compensation: 30k USDC
  • Usage and Demand:
    • Bio Launchpad: automatic liquidity pool deployments for DAOs that successfully finished the launchpad process.
    • Borrowing and Lending Protocols Morpho: Exact demand to be estimated.

References

5 Likes
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@Bio-Protocol Thank you for your detailed request and, most importantly, for your interest in the Pyth Network. As a Price Feed Council member, I find your proposal highly valuable, and I am excited by your willingness to support the Network’s growth.

Based on the information you provided - particularly the trading volume and listing venues - I see no barriers to the Council approving this proposal.
It is also wonderful to see that you plan to support the DAO in conjunction with your request. This truly highlights your commitment to the Network and aligns with the Council’s ongoing efforts to foster its development. I am personally in favor of moving forward with your proposal and will work to help fulfill your request as soon as possible.
That said, it is extremely important to emphasize that the Price Feed Council’s ultimate decision will be governed by the technical requirements we consistently apply when considering new price feeds (which seems to be the case, based on the above numbers), and any Publisher must meet the Pyth Network’s high standards.

Additionally, the funds received will be directed to the DAO treasury - where the Governance Stakers (=DAO Members) control and decide on the allocation of these resources to support and grow the Network. The Council itself, or its members, will not receive any portion of these funds, maintaining our focus on non-profit work dedicated to the network’s advancement.

For further information, please refer to the DAO constitution and the DAO treasury wallet (Gx4MBPb1vqZLJajZmsKLg8fGw9ErhoKsR8LeKcCKFyak), which you can find at the following website: https://github.com/pyth-network/governance/blob/main/docs/constitution/pyth-dao-constitution.md

Thank you again for your engagement with the Pyth Network, and I look forward to collaborating further as we evaluate your proposal.

4 Likes
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@Bio-Protocol I’m happy to confirm that the requested Price Feed is now live! Please find the relevant information below.
https://www.pyth.network/price-feeds/crypto-bio-usd
https://insights.pyth.network/price-feeds/Crypto.BIO%2FUSD

You can proceed with your contribution to the following DAO wallet (and kindly verify it in the Pyth DAO Constitution): Gx4MBPb1vqZLJajZmsKLg8fGw9ErhoKsR8LeKcCKFyak .

Thank you for supporting the Pyth Network.

3 Likes
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Love seeing some cool decentralized and governance led feed listing! Now Pyth users can leverage real-time price data for BIO permissionlessly

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i just realized that this Idea already materialized in the form of the BIO Price Feed request!

would love to see more feed listing via the forum.
kinda gives the DAO information about the token as well!

4 Likes