Enables BMP binding activity and morphogen activity. Involved in several processes, including determination of dorsal identity; negative regulation of monocyte chemotaxis; and sequestering of BMP in extracellular matrix. Acts upstream of or within negative regulation of BMP signaling pathway; neuron projection morphogenesis; and positive regulation of neuron differentiation. Predicted to be active in extracellular space. Is expressed in several structures, including alimentary system; brain ventricular layer; embryo mesenchyme; limb; and nose. Orthologous to several human genes including MICOS10-NBL1 (MICOS10-NBL1 readthrough). [provided by Alliance of Genome Resources, Apr 2022]