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DeBio Network Initial Dex Offering on Skyward Finance

DeBio Network Initial Dex Offering on Skyward Finance

DeBio Network is launching its initial dex offering (IDO) with 6.5% of its total supply on Skyward Finance.The Octopus Network team is also giving $DBIO IDO participants a 200k $OCT worth of airdrops. For every 32.5 $DBIO you buy in their IDO sale, you get an airdrop of 1 $OCT.

DeBio Network is launching its initial dex offering (IDO) with 6.5% of its total supply on Skyward Finance. The deposit period starts on November 7th and goes until November 13th and you can deposit your $NEAR here.

DeBio Network is a decentralized anonymous-first medical and biomedical platform created for privacy-conscious users who want to submit tests anonymously from the comfort of their homes. DeBio Network is created to give users sovereignty for their genetic and biomedical data utilizing the power of blockchain and cryptography.

“The DeBio Network believes that the future of blockchain lies in the specialization of technology use cases as well as interoperability. The unique demands of the bioinformatics and biomedical ecosystems, the decision-making governance required to ensure proper and transparent data handling, in conjunction with the one-of-a-kind business models we provide, require a fresh, alternative architecture.” — Pandu Sastrowardoyo, CEO of the DeBio Network.

DeBio Network is built using Substrate, the blockchain framework behind the Polkadot and Kusama ecosystems. DeBio Network is an Appchain on the Octopus Network and is a part of the NEAR ecosystem.

With the increase in demand for online genetic testing, DeBio Network is tapping into a growing market that is expected to have a valuation of $10 billion by 2022.

What is $DBIO and what are the token utilities?

The DeBio Network will use $DBIO as the native token on the network, mainly utilized for transactions and staking on the DeBio Network blockchain.

$DBIO will be a native token on NEAR Protocol.

$DBIO will have a total supply cap of 100 million. $DBIO and has a circulating supply of around 75 million $DBIO. The current IDO will launch 6.5 million more $DBIO and will be the premier opportunity for investors to get a hold of $DBIO.

$DBIO as a reward to subsidies gas fees

$DBIO will be used as gas fees on the DeBio Network blockchain, thus you will be required to have a small amount of $DBIO to be able to insert transactions on the dApp. One of the primary utilities of the $DBIO token is to provide subsidies that offset gas fees on the network while accumulating value received from the data tokens.

Request service staking using $DBIO

$DBIO will have a native staking utility. Users from around the world can request a specific genetic or biomedical service to be provided by a lab near them, and they will stake their $DBIO to make a service request. If a customer decides to stake their $DBIO they will receive a reward as they'll get some percentage worth of the service price when they get the test result. Any lab that fulfills the request will then be required to add the new service into their catalog, and both customers who staked and labs who provide the service will be able to benefit by receiving rewards for each new transaction done on the staked service.

Know-your-customer using $DBIO in DAOGenics

$DBIO tokens are also utilized for the know-your-customer (KYC) part of the solution, more specifically for the labs. Labs cannot be anonymous on the DeBio platform, they need to be credentialed and have verifiable skills. Verified labs will also be eligible to receive $DBIO as rewards.

While the holders of $DBIO are not limited to new labs seeking to join the ecosystem, DAOGenics provides a way for Subject Matter Experts, labs, and health institutions within the $DBIO consortium of token holders to curate new labs wishing to join.

The role of $DBIO in the data marketplace

$DBIO will be required if you want to interact with the DeBio Network decentralized app (dApp) ecosystem. However, to buy genetic or biomedical tests users will pay using the $DAI stable coin. This is because stable coins present an easier way for labs to get paid. After all, there will be no price fluctuations for their services. Then to offset the expensive costs of the tests, DeBio Network has a data bounty feature that allows users to submit their medical data/datasets from degenics, deMedicals, and/or dEMRs anonymously into a data marketplace.

The DeBio Network is planning to work with Ocean Protocol’s Data Marketplace to allow researchers to compute algorithms on the users’ data bounty without compromising them. In essence, researchers will only be allowed to access aggregated data using a computing algorithm and will not be able to download them individually.

“DeBio is a whole new economic system for genomics — allowing genetic sovereignty, ensuring participation of smaller labs while supercharging genetic research. All done on top of a DeFi-like model that is fully decentralized,” — Pandu Sastrowardoyo, CEO of the DeBio Network.

Each data token is an aggregation of the data bounty that the users give consent to use. Buyers in the data marketplace buy ERC20 data tokens related to this data aggregation. Researchers that have bought data tokens can propose algorithms to the Consortium to be run by DeBio Network’s private Kubernetes cluster. The algorithm provided will then be executed on the individual datasets before the results are sent to a compute-to-data proxy.

The data marketplace only sells aggregated data as data tokens (ERC20). Then the proceeds of the data sales are used by a permissionless smart contract to buyback $DBIO using Ethereum, flowing value back to the hands of the user, validators, and ecosystem.

$DBIO accumulates value from the data marketplace tokens. This creates an interconnectivity between the data staking mechanism of $DBIO with the marketplace activities of the data tokens.

Token Distribution

The $DBIO token has a total supply of 100 million, and the token distribution is as follows:

Image retrieved from the DeBio Network Whitepaper

The token distribution will be divided into 5 parties: the community, the app chain validators, the DAO, the investors, the DeBio Network team, and the IDO launchpad. Each owns a lesser percentage than the last.

Both community and app chain validators will receive a total of 50% of the pie, while the team behind the project will only receive 12.5%.

There are 4 rounds for investments in the DeBio project with a total sum of 13.5%. As of today, the DeBio Network team has finished the investment rounds, accomplishing the targets of each investment round raising a total of $850,000. The DeBio Network team received such an enthusiastic response from the investors that the investment rounds ended up being 5x oversubscribed.

Currently, DeBio Network is in the IDO launch phase, selling 6.5% of the total $DBIO supply on Skyward Finance. As far as investing goes, this will be the last chance for you to invest in DeBio Network. The deposit period starts on November 7th and goes until November 13th and you can deposit your $NEAR here.

About the Team

CEO: Pandu Sastrowardoyo

IT & Blockchain consultant and business leader. Former environmental engineer with bioinformatics course certificates and microbiology experience Ex-IBMer, cofounder of multiple Blockchain organizations, as seen in Forbes, CNBC, CNN, Deutsche Welle, Forkast News, and many others.

Chief Scientist: Ibn Gamal Alhadid

Coordinates the DeBio.Network Advisors. Biologist, fitness professional, and wellness enthusiast. Experienced in network marketing, business development, and sales throughout a wide range of industries.

Executive Advisor: Oham Dunggio

Engineering Background includes the following: Producer of Kuliah Aset Kripto Podcast, Former Chairman of Indonesian Blockchain Association, ex-business development from Indodax, one of the biggest crypto exchanges in Indonesia.

Roadmap

Image retrieved from the DeBio Network Whitepaper

DeBio Network Information