Tokenomics

BIO Token

BioDAO's native protocol token, $BIO, is the a valueless governance token. The BIO token will be used to vote on any strategic or operational decisions of the DAO. It has no value other than governance.

$BIO can be earned through various contributions (e.g., deal flow, due diligence, DAO ops).

Token Supply and Distribution

BioDAO will mint 1,000,000,000 BIO as a native ERC20 token controlled by BioDAO. The DAO may mint more tokens beyond the initial 1 billion by proposal.

Token Name	Token Standard	Max Supply
BIO	ERC-20	1,000,000,000

Category	Total Supply	Cliff Period	Vesting Schedule After Cliff
Genesis Contributors	10%	12 months	Vested daily over 36 months
Service Providers	5%	12 months	Various
Community Incentives & Rewards	10%	N/A	N/A
In exchange for GP Carry (performance fee)	15%	N/A	Vested daily over 48 months
BioDAO Treasury	60%	N/A	N/A
Total	100%

The Tokenomics Committee can distribute $BIO tokens to other committees and teams to incentivize and reward contributions to the DAO.

$BIO token utilities

The BIO token offers several utilities:

• Access to the Discord channel. The Discord channel is the primary entry-point to BioDAO and is the main platform used to:

  • Propose and discuss strategic and operational decisions.

  • Tap into the network of biotech experts in the community to which founders can reach out to for any questions. That could be related to day to day operations such as sourcing and experimental design or business questions such as negotiating BD deals or hiring a team.

• Participation in Governance. BIO token holders can discuss ideas for improvements, propose changes, vote on governance proposals, and project funding, thus, helping share the future of biotech.

• Access to career benefits. In the future, tokens are expected to be redeemable for special career benefits such as courses and fellowships and be used as a payment option for biotech talent/companies.

• Access to deal flow. In the future, tokens would create priority access to deal flow for biotech VCs to co-fund with BioDAO and/or fund projects at later stages.

• Access to Biotech NFT drops. BioNFTs will serve as a proof of project participation and be given to members of the collective who held BIO tokens when BioDAO made a development or funding decision on a particular project. BioNFTs will grant exclusive membership access to the so-called “benefits and perks”. The details of “benefits and perks” will be decided by the members of BioDAO.

Supplementary tokens

Reputation NFTs

BioDAO will implement a reputation system based on NFT where every task will be rewarded with an NFT and a collection of NFTs will represent a reputation score. This data will be open source, essentially, putting biotech career history on chain. This will create means for anyone to use this information further. For example, a talent marketplace can be built on top of it, augmenting the value of the BioDAO ecosystem.

Reputation NFT system and bounty board to create engagement

BioNFT: Proof of Funding and Biotech Art

BioNFTs will serve as a proof of project participation and be given to members of the collective who held BIO tokens when BioDAO made a development or funding recommendation on a particular project. BioNFTs will grant exclusive membership access to the so-called “benefits and perks”. The details of “benefits and perks” will be decided by the members of BioDAO. In the future, BioNFTs can be functionalized for use in clinical trials, medical records, IP, Royalty payments and the pharmaceutical supply chain, especially as BioDAO moves towards open source biotech.