The Bee Network app was launched for testing in Aug 2020 and officially launched on 3 Dec 2020 which we have made it available for download in all countries. We have recorded 80,000+ users registrations worldwide in 5 days since our official launch!
Bee Network’s Vision
Bee Network is founded by a large team of blockchain and cryptocurrencies enthusiasts from all over the world. Taking reference to Bitcoin’s founder (or better described as founding team) Satoshi Nakamoto’s real identity remains anonymous until today, yet the world is thankful for all the contributions of this team of unnamed heroes have made, we believe it is the changes that we can bring, rather than a name that matters.
Bee Network is made upon the philosophy of making blockchain and cryptocurrency available to the vast majority so that most of us can enjoy the improvement in living standard powered by technological advancement. As of today, even though the 1st cryptocurrency ever is born more than 10 years, the impact of cryptocurrency revolution is still only benefiting a very limited population, especially in more developed countries with richer sources and technological knowhow. Bee’s philosophy is simple: you have a smartphone, you have internet access, then you can have Bee and enjoy all sorts of benefits that it will bring you financially. No need for advanced knowledge in sophisticated mechanisms of blockchain. No need for a supercomputer. No need to invest your own money (except that you have to own a smartphone and pay for internet bills). Which is certainly applicable to the vast majority of the world’s population.
Bee Network’s Game Rules
Bee Network’s game rule is simple. You log in and tap the mining button every 24 hours, you will automatically earn your Bee according to the formula of
Base Rate + Base Rate x 25% x Number of Active Miners in Your Earning Team
Each mining session ends in 24 hours, so you will log in and tap to start another mining session.
There are 3 roles that you can earn Bee: Miner, Referrer and Verifier (which Verifier will only be open in Phase 2).
As a Miner, you earn a base rate of 1.6 Bee / hour (but the base rate will be reduced to 0.8, 0.4, 0.2, 0.1 and eventually 0 as Bee Network hits more milestones, this part will be explained in more details below). So simply mine every 24 hours you can earn at base rate.
Simultaneously as a Referrer, you earn Base Rate x 25% x Number of Active Miners in Your Earning Team. So the key is to refer more users by your referral code, and keep them actively mining.
The role of Verifier will be open in Phase 2.
Verifier is to build a security circle by trusting users in your earning team. For each user that you have trusted and added them to your security circle, 0.2 Bee / hour x Number of Miners in Your Security Circle will be added to your base rate. The key is only to add trusted people to your Security Circle, because we will need everyone in your Security Circle passing the identity verification process in Phase 2 before we can let you use Bee for trading purposes.
Bee Network’s Progress
In order to make Bee a valuable asset, we will cut the mining rate by 50% for 4 times along the development of Bee Network, and eventually there will be no new supply of Bee.
Here is the milestone,
Less than 100k users: 1.6 Bee/hour
100,000–1 million: 0.8 Bee/hour
1 million to 10 million: 0.4 Bee/hour
10 million to 100 million: 0.2 Bee/hour
100 million to 1 billion: 0.1 Bee/hour
**More than 1 billion users: 0, no more new supply. **
As you may be aware, as of now Bee Network has already recorded 10M users, so it will be beneficial to mine and refer as much as possible before the rate is cut 50% when there are 100M users registered.
Why is Cutting Supply Important at Bee Network
In order to ensure the stability of the price of Bee and prevent any negative fluctuation common among cryptocurrencies, cutting supply (or known as ‘halving’ in the crypto sphere) is imperative to maintain the supply and demand chain of Bee. By reducing the Bee supply, Bee Network can maintain the scarcity of Bee tokens to secure the value held by our Bee Network users — including you. Take Bitcoin for an example. Halving is a common occurrence that happens roughly every four years to the world’s biggest and most valuable cryptocurrencies, and the price of Bitcoin actually rises with each
In fact it is one of the best things you can do right now with just your mobile, you halving event that has occured. In simpler words, cutting the supply of Bee for each major user milestone safeguards the price of Bee while protecting it from price inflation.
You can mine yourself to mine these coins right now (similar to PI but a bit organized) WITHOUT ANY INVESTMENT OR KYC/ JUST YOUR PHONE NUMBER
Now, How does it happen?
- Install bee network on your mobile (search in store ‘bee network’)
- Login with your Name, Number and the referral code ‘avikak’
- and just tap the bee button once in 24 hours.
That’s All it takes people. Just a tap. How much is it 5 seconds a day? just to grow a digital asset that would be worth maybe hundreds or even thousands or dollars
They would ask for a KYC probably once the coins have a value. the same happened with my uncle when bitcoin was out, his friends were into mining, they offered him to do it, he didn’t really have faith in it since it was a relatively new concept, now their bitcoin are worth thousands of dollars, BEE network will take a long time, but mining with 5 seconds to loose a day looks like a heavenly good deal for me.