Bio V1 Launchpad: Initiate SpineDAO Funding and Auction Design on Solana

Introduction

Spine DAO - Revolutionizing spine care for millions worldwide. By leveraging blockchain, AI, and collaborative decentralized science, SpineDAO creates an open platform for optimizing surgical decisions, improving patient outcomes, and democratizing access to spine knowledge.

Details: https://app.bio.xyz/launchpad/SpineDAO

SpineDAO has successfully completed its Curation Phase on the Bio Protocol V1 Launchpad, with 2.3 million BIO locked (exceeding the initial $225k target). This strong community support underscores SpineDAO’s mission to harness AI, collaborative research, and blockchain solutions for better spine health worldwide.

Funding Phase Parameters

• Blockchain: Solana

• Sale Method: Uniform-Price Auction

• Auction Duration: 30 days

• Tokens for Sale: 15% of SPINE supply

• Minimum Raise: $450,000 (in SOL)

• Maximum Raise (Cap): $1,500,000 (in SOL)

• Price Discovery: All participants receive the same clearing price at auction close.

Vesting Terms For $SPINE

• 30% available immediately / 70% vesting over 1 month

Post-Auction Liquidity

• Liquidity Pool: The locked BIO from curation plus allocated SPINE tokens will seed a SPINE/BIO AMM pool on Solana.

• Treasury Funding: If the auction meets the $450k minimum, proceeds are directed to SpineDAO’s treasury for decentralized governance and project development.

• Refunds on Failure: Should the auction fail to reach the $450k minimum, contributors can reclaim their SOL deposits.

Request for Approval

We request governance approval to commence the 30-day SpineDAO Funding Phase via a uniform-price auction on Solana. This will secure critical resources for SpineDAO’s decentralized spine-care initiatives and further bolster Bio Protocol’s overarching mission to pioneer innovation in biotech and research.