Idea & Token Functions
BeeToken uses the Beenest platform, which gives hosts and guests the ability to directly transact without middlemen. The platform includes protocols to resolve disputes and to calculate reputation to the various users on the platform. Key protocols include payment using smart-contracts, arbitration, using randomly selected platform participants to cast votes, and a reputation protocol that calculates a rating for users in the role of guest, host or arbiter based on a variety of factors.
BEE tokens are used for transactions on the platform at a 0% commission. BTC/ETH payments as well as payments with other ERC20 tokens have a 1% commission whereas fiat payments are accompanied by a 3,99% commission. Staking BEE tokens also increases a user’s chances to be randomly selected as an arbiter and be rewarded with BEE for taking part in resolving disputes.
Alpha-version launch on an Ethereum testnet is planned for January 2018, prior to crowdsale launch.
The Bee team includes experts hailing from Google, Facebook, Uber and Civic. The four co-founders include CEO Jonathan Chou, former lead at the Security and Fraud division in Uber, CTO Tony Tran, former software engineer at Uber and Bizo, lead engineer Ali Ayyash, former lead engineer at Google Cloud, with another 3 years spent as lead at Amazon Web Services, and head of business development Min Kim, former Chief of Staff at Civic Technologies, who currently serves as a blockchain advisor for a number of products, such as Quantstamp, WeTrust and Bitclave. Product advisors include CEO of Quantstamp Richard Ma, CPO of Enigma Can Kisagun, Galois Capital co-founder Kevin Zhou, partner at Blockchain Partners Korea Yiseul Cho and founder of Transform Group and CoinAgenda Michael Terpin.
BeeToken is a powerful project in the home sharing field, backed by a very powerful team and including a number of important mechanisms to ensure the service’s functions, particularly the reputation protocol. Another important note is that BeeToken has a number of partnerships and will synergize with several other projects: Request Network, Rentivo, Connext, Origin.
Of course, the project will have to compete with AirBnB, but thankfully, prevailing over this competitor is not an absolute necessity. It is very possible that Beenest manages to find its place next to the competitor, within its own niche. Furthermore, despite a fairly clear roadmap, project expansion doesn’t seem all that fast, with only 5 US cities planned for inclusion by the end of 2019. The project is still attractive both in the long-term and in the short-term, as it sports a low hard cap and all bonus tokens are locked for 1 month, which should prevent dumping.
BeeToken ICO datesexport to calend
Together, we are building Beenest and the Bee Protocols on the Ethereum blockchain.
Beenest is a home sharing platform for hosts to list their homes and for guests to find accommodations. Beenest rewards users with network incentives, commission-free transactions, and security unrivaled in the home sharing industry.
The Bee Protocols are a set of Ethereum smart contracts providing developers the tools to rapidly launch new decentralized applications. By utilizing industry proven Bee Protocols, developers can expect faster development cycles, reduced integration costs, and an existing user base.
The Bee Token is the cryptocurrency that fuels the Beenest platform and the Bee Protocols.