BIOPSY-14 🧪 Genesis Round 2.5

Summary

Genesis Round 2 concluded with a surplus of roughly 58M BIO tokens (0.17% of token supply) from an unfilled HAIR auction. The BIO team proposes a final auction round to distribute the remaining BIO across several DeSci tokens from previous rounds and ETH, completing the Genesis phase.

Auction Mechanism

1. Reallocation of Remaining BIO: The unallocated BIO tokens from the HAIR auction in round 2 will be used to initiate new auctions for all previous token pairs excluding HAIR and PSY. This approach ensures full distribution of available BIO tokens.
2. Genesis Round 2.5 Launch: Auctions for the previous token pairs (bioDAO Tokens and ETH - excl. PSY & HAIR) will be launched simultaneously, using a similar mechanism to Genesis Round 2.
3. Genesis Round 2: The settlement and pricing of genesis round 2 remains unaffected by the introduction of Genesis Round 2.5. In other words, participants in round 2 have the closing price of auction round 2 locked in and this price is not changed by round 2.5. Claiming of BIO for round 2 and 2.5 will begin in the days following November 14th.

Auction Parameters

The BIO / Token exchange rate for the new auctions will be based on the closing exchange rate of the same auction pair from round 2. The BIO exchange rates will remain constant across these final auctions.

DAO	BIO/Token exchange rate at closing round 2	Total Token weights	BIO Allocation	Total token cap for Auction 3
VITA	35.720958	18.75%	10,880,587	304,599.53
NEURON	0.007104	6.25%	3,626,862	510,505,623.19
ATH	12.599382	6.25%	3,626,862	287,860.34
RSC	8.582660	6.25%	3,626,862	422,580.20
GROW	14.612736	6.25%	3,626,862	248,198.72
CRYO	20.336834	6.25%	3,626,862	178,339.58
ETH	81130.207076	50.00%	29,014,899	357.63
Total		100%	58,029,798

Auction Mechanism Explainer: Using VITA as an example, each user swapping in 1 VITA will receive ca. 35.72 BIO until the Token Cap for the auction is filled. Across the runtime of the auction the USD price of VITA may change. However, the BIO/VITA exchange rate is not influenced by this. Additionally, exchange rates in auction round 2.5 will not increase as the auction is filled.

Further Specifications

• The auction will run until the 14th of November and will be launched as soon as the governance proposal is passed.
• PSY and HAIR token swap will be removed from the final auction round due to an expected lack of community demand for participating with these tokens. In its place, the additional BIO allocation will be allocated to the VitaDAO auction, the most liquid of the BioDAO assets.
• All terms from previous auction rounds also apply to auction round 2.5: All participants will receive 50% in BIO and 50% in vBIO vesting over 1 year.

Expected Benefits

• Comprehensive bioDAO Support: Distributing the remaining BIO across all token pairs ensures a balanced approach, supporting each participating bioDAO.
• Liquidity Increase: This round allows for additional ETH or bioDAO token contributions, strengthening BIO's treasury and ecosystem stability.
• Community Participation: The structured nature of these auctions encourages continued involvement from the BIO community and broad distribution of BIO token ownership.

Conclusion

BIO Genesis Round 2.5 aims to complete the token distribution process, enhance liquidity, and finalize the Genesis phase. By allocating the remaining tokens from the HAIR auction across different token pairs, we aim to conclude this phase effectively and set the foundation for the BIO network's future operations.