KEY TAKEAWAYS
- BIO protocol integrates Wormhole’s Native Token Transfers to enhance multichain capabilities, initially launching on Solana and expanding to Base.
- The integration aims to broaden access to tokenized science opportunities, fostering the growth of decentralized science (DeSci).
- Wormhole’s NTT framework allows seamless native token transfers across blockchains, maintaining token properties and enhancing DeSci funding opportunities.
- NTT provides BIO protocol with flexibility in token management, supporting various blockchain environments and governance systems.
BIO protocol is advancing its multichain capabilities by integrating Wormhole’s Native Token Transfers (NTT) framework. This development will make the BIO token natively multichain, initially launching on Solana and soon expanding to Base. The integration aims to broaden access to tokenized science opportunities within two rapidly growing crypto communities, thereby fostering the growth of decentralized science (DeSci).
The BIO protocol serves as a launchpad for scientific communities, facilitating the funding, development, and tokenization of biotech projects. It leverages Molecule’s tokenization technology and the VitaDAO community’s focus on longevity research. Technically, BIO functions as a curation and liquidity protocol, utilizing the BIO token to support early-stage intellectual property development for patients, scientists, and biotech professionals.
Understanding Wormhole’s NTT Framework
Wormhole’s Native Token Transfers (NTT) is an open and composable framework designed to enable seamless native token transfers across blockchains while preserving their intrinsic properties. NTT is already utilized by prominent projects such as Lido, Sky, Jito, ether.fi, Stakewise, and Wormhole’s W token, showcasing its industry-wide impact and reliability.
The integration of NTT with BIO protocol extends the token’s reach beyond Ethereum, facilitating its presence on Solana and Base. This multichain expansion connects scientists and funders across networks, enhancing DeSci funding opportunities for a broader crypto audience.
Benefits of NTT for BIO Protocol
NTT provides BIO protocol with the ability to maintain full control over the token’s behavior on each blockchain. This includes aspects such as customizability, metadata management, and ownership or upgradeability, ensuring compatibility with any token standard or governance system. This flexibility is crucial for adapting to various blockchain environments.
For existing token deployments like BIO, NTT can operate in a “locking” mode, maintaining the original token supply on a single chain while enabling cross-chain transfers. Alternatively, it can be deployed in a “burn and mint” mode, allowing for a unified supply managed across all supported chains, eliminating the need for wrapped tokens.
The integration of NTT with BIO protocol was announced here.
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