What Is Bee Token?
Beenest is the world’s first decentralized blockchain based home-sharing network that is built on Bee protocols hosted by guests without any commission involved. The platform contains two features including Beenest protocols and Beenest decentralized apps – dApp based on ERC20 tokens. These ERC20 tokens are also known as Bee Tokens. The Beenest is an open source platform that empowers future dApps incorporating shared economy. There are three important systems involved in the beenest protocols that include a secured P2P encrypted payment system, a system based on decentralized arbitration, and a reputation system.
Beenest is a blockchain based decentralized network that aims to introduce the world to advanced home-sharing network protocols. The platform strives hard to put forth a system where payments are easy to made, disputes are attributed well in time and transactions are more transparent. In other words, It is a home-sharing platform and a marketplace where hosts can make some additional income, guests may find comfortable accommodation and the mediators may get their disputes resolved relatively fast.
How Does Bee Token Work?
Beenest enables guests to connect with hosts to reserve days for their visits with the comfort of their home and pay for their visit using Bee Tokens. Unlike other housing platforms, the beenest takes into account the contribution made by hosts and guests in the wellbeing and success of the platform by sharing rewards with every individual who participates in the network. To return value to parties such as investors or to meet their overhead expenses, other housing societies or networks charge almost double-digit commission. However, with the help of blockchain based network that supports peer to peer transactions, the need for middleman at Bee Token’s platform is eliminated, and beenest doesn’t charge even a single penny.
Earn Bee Token
To earn Bee tokens, investors needed to participate in either the pre-sale phase or the crowd sale of the ICO. The ICO held its public-pre sale of its token in the previous month. However, the main sale of the ICO is being carried out, therefore people who wish to earn Bee tokens can get them by participating in the main sale of the ICO. Alternatively, those who wish to earn Bee tokens sometimes later can get them in exchange for other cryptocurrencies provided that Bee tokens are supported on major exchanges.
Buy Bee Token With E-Wallet
Bee Tokens are based on ERC20 tokens. ERC20 tokens are also known as Ethereum. Ethereum is the only supported currency at Beenest. Investors who wish to buy Bee token need to have an e-wallet because ethereum being a cryptocurrency needs an e-wallet to be stored in. Many companies around the world are offering free e-wallets these days, you can go for any of them as far as the company offering e-wallet is legitimate.
The ICO Distribution
The ICO planned to hold its launching ceremony in January 2018. It started its main sale on January 31st, 2018. The ICO plans to last for about 20 days. It scheduled ending date is February 19th, 2018. The ICO pre-sale phase was conducted in-between December 6th-15th, 2018. As per the information available on the official website of the ICO, the ICO closed way earlier than its scheduled date because of reaching the hard cap defined by the ICO. There was a total token supply of 500 Million BEE. The ICO had defined a hard capping of $5 Million which has been achieved.
The ICO planned to distribute Bee tokens in the following proportion;
- 30% tokens were planned to be made available to the public to subscribe
- 25% tokens were planned to be separated as the platform’s reserve
- 15% tokens were planned to be distributed among the team members of the ICO
- 30% tokens were planned to be separated as a community reserve
The ICO planned to allocate funds generated from the public token sale under the following proportion;
- 20% funds are planned to be distributed to Operations of the ICO
- 5% funds are planned to be allocated to meet overhead expenses of the ICO
- 35% funds are planned to be allocated for marketing, promotion, research and development of the business
- 40% funds are planned to be allocated to the Engineering department so further expansion can be realized
We found every detail on the official website and whitepaper of the ICO except the bonus offer. We think the ICO might have forgotten to mention bonus details in the whitepaper of the ICO. It is very unlikely that an ICO does not offer any bonus to its early investors. We, therefore, suggest people wait some more days. The ICO may come up with a bonus offer in the meantime.
Team Members of the Bee Token
The ICO has following team member;
- Jonathan Chou is the Co-Founder and CEO of the Company
- Tony Tran is also the Co-Founder and CTO of the Company
- Ali Ayyash is another Co-Founder and Lead Engineer at Bee Token
- Min H. Kim is yet another Co-Founder as well as Head of Business Development at Bee Token
- Jordan Ong is the Head of Product at Bee Token
- David Peterson is the Head of Marketing at Bee Token
- Coco Liu is the Lead Designer at Bee Token
- Rob Peterson is the Smart Contract Engineer at Bee Token
- Michael Pak is the Technical Project Manager at Bee Token
- Richard Ma is an advisor to the company
- Yiseul Cho is another advisor to the company
- Miko Matsumura is also an advisor to the company
- Kevin Zhou is yet another advisor to the company
- Richard Li is also another advisor to the company
- Anastasia Andrianova is also an advisor to the company
Invest In Bee Token
After a careful review of the ICO, we hereby, conclude that the ICO is one of the best options available to invest in. The ICO’s objective sounds quite realistic. Everything seems to be working in favor of the ICO as it has successfully achieved its funding target way before the ICO planned to end its public sale. This shows how much people trust the ICO. In addition, the team behind the ICO seems to be quite competitive. We believe Bee Token is going to be a next big thing in the blockchain world in near future. We suggest people should invest in Bee Token with full confidence.