It's a two part additive for maintaining the level of both alkalinty and calcium in your tank.
The two parts have to be dosed separately, preferably a few hours appart, to prevent them interacting with each other.
Seachem has a similar product that comes as two powders. There are others too.
You're right that they are added very often, not uncommonly daily.
How much you have to add depends on the calcium and alkalinty demand of your tank. The more things that soak these up then the more you have to add.
In a lightly stocked new tank you probably won't have to add much at all.
It's very important that you always add both parts of the product. If you don't then the water chemistry will slowly get out of sync and you'll have major problems correcting for this (short of changing a huge amount of water).
You'll need to test the level of alkalinty and calcium in your tank with a good quality test-kit to determine how much of this product you need to add. A good brand of test-kit is
Salifert.
Once you're practiced at this you'll notice that you really only need to test alkalinty or calcium as the two are related. I choose to only regularly measure alkalinity and only very rarely measure calcium.
There are alternative approaches, which include:
1. Dripping Kalk - this is cheap but a bit of a hassle if you're new to doing it. Probably not a good way to start off.
2. Using a calcium reactor - the ultimate in ease but has a very high start-up cost (many hundreds of dollars).
If you search the history of this forum you'll turn up lots of info on this sort of thing.
To a large extent the size of your tank will ultimately determine what method you use. For example, on a large heavily stocked tank using
Bionic would cost serious amounts of money.
On a small tank Bionic can be cost effective long-term. However, there's other things to consider too e.g. the likely growth rate of coraline algae under the various methods.