Analysis: Binance's new coin mining BIO private placement participation has a maximum floating profit of 92 times, while the minimum floating profit of public offering is nearly 15 times

On-chain analyst @ai_9684xtpa released an analysis of Binance's new coin mining BIO, including: - What is the BIO cost for the participants in the private/public offering stage - What is the unlocking and selling pressure during TGE Currently, the floating profit multiple of private equity participation has reached 92 times, and the lowest public offering is nearly 15 times. The following are the data details: 1. Fundraising situation According to Binance research reports, BIO Protocol has raised a total of US$30.2 million through private and public offerings. There are two rounds of private placement, with a total financing of US$2.3 million, and valuations of US$35 million and US$69 million respectively; There are three rounds of public offering (i.e. BIO Genesis auction), with a total financing of US$27.9 million, and valuations of US$85 million/US$142 million/US$219 million respectively; 2. Project valuation Currently, BIO has been listed on Bybit and Bitget pre-market trading. Based on the pre-market average price of US$0.9659 on the two platforms at 22:00 on December 29, BIO FDV is approximately US$3.2 billion The token distribution is as follows: -Maximum circulation: 3.32 billion (dynamic) -Private placement investors: 13.60% of the total supply -Public offering investors: 20.00% of the total supply 3. Private placement and public offering costs Private placement Before seed round: cost is approximately US$0.01054, current floating profit is US$91.62 times In the seed round: cost is about $0.02078, current floating profit is 46.48 times Public offering Round 1: cost is about $0.0256, current floating profit is 37.73 times Round 2: cost is about $0.04277, current floating profit is 22.58 times Round 3: cost is about $0.06596, current floating profit is 14.64 times 4. Unlocking situation Due to the restrictions on token unlocking, this 33.6% profit will not be immediately converted into selling pressure. Among them, the tokens of private investors were not unlocked at TGE, and the tokens of public investors were unlocked 50% at TGE, and the remaining 50% were unlocked linearly within one year. Therefore, only 10% of the total amount (25.6% of the circulation) of the vested tokens will be released at TGE, that is, 332 million, which is about $320 million based on the pre-market price.