BIOPSY-4 🧪 BIO Genesis

Strategic Purpose: Seed protocol reserves for liquidity and meta-governance activities in the best DeSci DAOs

Target Metric: Value of non-native assets in BIO/bioDAO treasuries

TLDR

• The BIO Genesis is a fair launch auction for equal access to bioDAO token holders in the initiation of BIO. Contribution are open to the public, with the exception of geoblocks for US users and users from sanctioned countries.
• 664,000,000 $BIO (20% of initial supply) will be issued by the protocol in exchange for 8 different bioDAO tokens. BIO will be dynamically priced against each bioDAO token depending on the demand from its token holders.
• The initial price for the auction will be $0.0003 per BIO, a $996k BIO FDV. The final settlement price will be determined by the demand from bioDAO token holders and is capped at ~$150M $BIO valuation.
• The final closing price for BIO will be the same for every participant in each auction. No matter when someone places a bid during the event, the price per BIO in their bioDAO token at the end of the event will be the same for everyone in their bioDAO token pool. In other words, everyone in each bioDAO token pool gets the same price per BIO at the end of the event. Thus, there may be discrepancies in price of BIO as priced in different bioDAO tokens, though we expect market forces to equalize the BIO prices in each pool before the end of the event.
• The event will be capped per swap denominated in bioDAO tokens of each individual swap. The overall cap for the event is approximately 30$M depending market conditions and bioDAO token prices. Once the token cap is reached the auction contracts will automatically stop accepting new bids. If caps are not reached, the auctions will close after 30 days.
• All bioDAO tokens received during the Genesis Event will be locked in the BIO treasury. BIO governance can alter this in the future.
• 50% of BIO distributed during the Genesis Event will be unlocked immediately, with 50% unlocking linearly over 1 year.

BIO Allocations

*using bioDAO prices as of 16.07.2024

Ticker	% Allocated	BIO Allocated	Deposit Cap (in token)	Token Contract
VITA	36.30%	241,032,000.00	10,676,470.59	0x81f8f0bb1cb2a06649e51913a151f0e7ef6fa321
HAIR	4.90%	32,536,000.00	64,473.68	0x9Ce115f0341ae5daBC8B477b74E83db2018A6f42
GROW	15.00%	99,600,000.00	10,714,285.71	0x761A3557184cbC07b7493da0661c41177b2f97fA
ATH	11.00%	73,040,000.00	9,166,666.67	0xA4fFdf3208F46898CE063e25c1C43056FA754739
CRYO	10.00%	66,400,000.00	8,333,333.33	0xf4308b0263723b121056938c2172868e408079d0
RSC	10.00%	66,400,000.00	33,333,333.33	0xd101dcc414f310268c37eeb4cd376ccfa507f571
NEURON	8.60%	57,104,000.00	16,538,461,538.46	0xab814ce69e15f6b9660a3b184c0b0c97b9394a6b
PSY	4.20%	27,888,000.00	21,000,000.00	0x2196B84EaCe74867b73fb003AfF93C11FcE1D47A
Total	100.00%	664,000,000.00

Genesis Event Mechanics

During the Genesis Event, BIO can only be purchased using bioDAO tokens (not ETH, USDC, etc.). A user who wishes to participate but does not already hold bioDAO tokens must buy them off DEXs. This is designed so that the BIO launch is positive-sum for bioDAOs.

There will be 8 auctions in parallel, one for each bioDAO token included in the table above. BIO will be priced separately in each token based on demand from that token’s holders, preventing one bioDAO from taking a majority of the BIO and ensuring that the BIO protocol is well diversified. No matter when someone places a bid during the event, the price per BIO in their bioDAO token at the end of the event will be the same for everyone in their bioDAO token pool. In other words, everyone in each bioDAO token pool gets the same price per BIO at the end of the event. We expect market forces to equalize the prices before the end of the event.

Here is a graph for how the BIO valuation changes based on the total dollar value contributed at the end of the Genesis Event.