Basic Rating

  • The Bee Token

  • Decentralizing Short-Term Housing Rentals. Blockchain Powered Platform With 0% Commissions, Network Effects, Bank-Level Security, and Immutable Reviews
  • 3.8

Rating Insights

Bee token aims to be a decentralized home-sharing network built on top of a set of “Bee Protocols” that connects hosts with guests without taking any commissions. The Beenest dApp and the Bee Protocols are powered by an ERC-20 token called the BEE token. The open Ethereum Bee Protocols aim to provide the Beenest network and other future sharing economy dApps with three systems: (1) a peer-to-peer payment system that allows two authenticated entities to send and receive funds which are held in Bee Tokens until after a successful exchange of services; (2) a decentralized arbitration system that resolves user disputes, which in theory should provide positive incentives to grow a network of genuine arbiters and negative incentives to deter scammers; (3) a reputation system that couples a valid identity, which is obtained by a digital fingerprint protocol on the Ethereum blockchain, with a rating determined by transparent, immutable review and scoring interchange between entities (such as guests and hosts).Competitors: CryptoBnB, CarTaxi, Chasyr, CryptoCribs, Brixby, (Any ‘sharing’ economy dapp that utilizes blockchain)
Uniqueness/Advantages to competition: Creates protocols for direct dApp development within the network as well as an arbitration process. Aims to create decentralized protocol for many sharing economy dApps, not just one target market in particular.

Category Rating

Click any score to view its breakdown and category insights
3.4
Product

Product

The product is in the MVP stage and is being launched for private beta with hackathons set for the month of February. There is a very active public GitHub repo and the main focus of the team is continuous improvement of the project so as to develop the BEE-token protocols to allow dApps to be built directly in the BEE-token network. The heart of the project will not be developed until after the ICO and the mainnet will not be released for several months.
The product has appeal and a decent target user base given the shared economy industry is already creating massive disruption and is set to continue to grow, and there is a need for further decentralization of services like AirBnb and Uber.
Competitors: CryptoBnB, CarTaxi, Chasyr

Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

4.0
N/A
4 - Captivating.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

3.0
N/A
3 - Some normal competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

3.0
N/A
3 - Partial, a novel approach or aspect.
3.6
Use of Blockchain

Use of Blockchain

The product offers a contribution to blockchain developement as it intends to develop its own separate protocols for dApp developement with API integration. There is a disruptive advantage as, in theory, it would enable further decentralization of hybrid centralized applications such as Uber, WeWork, Airbnb, and others in the ‘sharing’ economy. There is need for a custom token as the platform intends to build its own blockchain protocols for dApps, requiring its own utility token for operation – the BEE token acts as ‘fuel’ within the network. The system aims to further decentralize the space for P2P transactions and to create an incentivized system for cooperative behavior. There is a contribution to the blockchain ecosystem here, in the sense of some new novel blockchain technology such as a ranking system for participants as well as an arbitration system built within the network.

Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

4.0
N/A
4 - Innovative use of blockchain technology.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

4.0
N/A
4 - Token is essential to platform.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

4.0
N/A
4 - Mostly decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

3.0
N/A
3 - Interesting.
4.2
Whitepaper

Whitepaper

The whitepaper is very visually pleasing and provides a business plan and potential technology presentation in clear detail. The whitepaper covers the intentions of the project and how the protocols will function and interact with the blockchain. Provides review of current competition and its intent to disrupt competition. The paper covers topics in a logical and complete manner. The language is clear and the paper is detailed but not so detailed and long that it is difficult to read.

Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

5.0
N/A
5 - Crystal clear. Enjoyable.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.
3.6
Roadmap

Roadmap

Two year long development roadmap that is outlined on a quarterly basis and provides general milestones. The roadmap shows the intended development of an alpha program being released in 2018, as well as protocol development and mainnet release by the year’s end. In 2019, the focus is on onboarding dApps and expanding the platform into several large cities across the world. There is a detailed version of the roadmap in the whitepaper appendix. The overall vision is set, however the only real use for the token will be as a tradeable cryptocurrency for at least 8 months until the mainnet is launched. The core project will not be fully developed until after the ICO. There is a VERY ACTIVE GITHUB REPO PRESENT that has increased in activity overtime. Main focus is to use ERC-20 tokens to conduct the ICO and to further develop the goals of the project. A lot of work and time still required for the project to be completed. Scored a (4) on ‘Dependencies’ since the project will be built on the Ethereum network.

Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3.0
N/A
3 - An overall plan, major milestones stated.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

4.0
N/A
4 - Long term.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

3.0
N/A
3 - Getting there.
3.6
Compliance

Compliance

The BEE-token does have intrinsic value through its planned usage on the BEE platform, as it is needed as ‘fuel’ for dApps built with BEE-token protocols. The infrastructure will be fully ready only well after the ICO, and it seems that as of now the main focus is to develop the private beta platform and to complete ICO fundraising.
The BEE-token team has paid great attention to compliance laws and did a manual whitelisting process to enforce KYC/AML laws. Explicitely state they would not allow US / CA / CN / TW / HK participants.
The BEE-tokens will only be used as tradable financial instruments on secondary trading exchanges until the mainnet is released, however a form of payment and settlement is essential to the BEE-token platform and protocols.

Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

4.0
N/A
4 - Distinctive use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

4.0
N/A
4 - Professional.
4.2
Company and Team

Company and Team

An established team, whose members either have previous experience with, or currently work for, large and well-known software/technology companies such as Google, Facebook, and Uber. The team has a background set in computer science, software development/engineering, user interface design, and some experience with other blockchain projects such as Civic.
All members have verifiable LinkedIn profiles with credentials, most of the core team members are fully dedicated to the Bee Token project, while others have commitments to other software/tech projects or companies. Many of the advisors to the project have blockchain, cryptocurrency, and smart contract experience as well. Other advisors are well versed in capital managment, finance and business development.
11 Employees. 15 Advisors.
Positives: The core team and lead team members have many years of experience in software, technology, blockchain, and business, and many members are fully dedicated to the project. Many of the team members also hold degrees from prestigious, well-known universities.
Negatives: Very few if any. It would be best if all team members were fully dedicated ot the project.

Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

4.0
N/A
4 - Fully assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

5.0
N/A
5 - Excellent, all aspects covered.
3.8
Token Sale

Token Sale

Target raise amount: $15M. Soft Cap completed prior to public sale ($5M sold out in private presale and another $5M sold out in public presale).
Total supply: 500,000,000 BEE-tokens.

Token distribution:
– 30% public sale
– 30% BEE community reserve
– 25% Company Reserve
– 15% Team & Advisors
– The team will be on a 2-year vesting schedule, receiving ¼ of their allocation 6 months after the end of the Public Sale and 1/24 of their allocation every month thereafter, until the 2-year vesting schedule is complete. No one is exempt from this vesting schedule, including co-founders and advisors.

Social Media Presence:

Well received with community engagement on several social media platforms.

Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

3.0
N/A
3 - Justifiable.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

4.0
N/A
4 - Well defined and reasonable.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

4.0
N/A
4 - Most tokens sold, vesting periods on kept tokens.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

4.0
N/A
4 - Solid exposure and interest, good impression.

Product

The product is in the MVP stage and is being launched for private beta with hackathons set for the month of February. There is a very active public GitHub repo and the main focus of the team is continuous improvement of the project so as to develop the BEE-token protocols to allow dApps to be built directly in the BEE-token network. The heart of the project will not be developed until after the ICO and the mainnet will not be released for several months.
The product has appeal and a decent target user base given the shared economy industry is already creating massive disruption and is set to continue to grow, and there is a need for further decentralization of services like AirBnb and Uber.
Competitors: CryptoBnB, CarTaxi, Chasyr

Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

4.0
N/A
4 - Captivating.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

3.0
N/A
3 - Some normal competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

3.0
N/A
3 - Partial, a novel approach or aspect.

Use of Blockchain

The product offers a contribution to blockchain developement as it intends to develop its own separate protocols for dApp developement with API integration. There is a disruptive advantage as, in theory, it would enable further decentralization of hybrid centralized applications such as Uber, WeWork, Airbnb, and others in the ‘sharing’ economy. There is need for a custom token as the platform intends to build its own blockchain protocols for dApps, requiring its own utility token for operation – the BEE token acts as ‘fuel’ within the network. The system aims to further decentralize the space for P2P transactions and to create an incentivized system for cooperative behavior. There is a contribution to the blockchain ecosystem here, in the sense of some new novel blockchain technology such as a ranking system for participants as well as an arbitration system built within the network.

Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

4.0
N/A
4 - Innovative use of blockchain technology.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

4.0
N/A
4 - Token is essential to platform.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

4.0
N/A
4 - Mostly decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

3.0
N/A
3 - Interesting.

Whitepaper

The whitepaper is very visually pleasing and provides a business plan and potential technology presentation in clear detail. The whitepaper covers the intentions of the project and how the protocols will function and interact with the blockchain. Provides review of current competition and its intent to disrupt competition. The paper covers topics in a logical and complete manner. The language is clear and the paper is detailed but not so detailed and long that it is difficult to read.

Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

5.0
N/A
5 - Crystal clear. Enjoyable.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.

Roadmap

Two year long development roadmap that is outlined on a quarterly basis and provides general milestones. The roadmap shows the intended development of an alpha program being released in 2018, as well as protocol development and mainnet release by the year’s end. In 2019, the focus is on onboarding dApps and expanding the platform into several large cities across the world. There is a detailed version of the roadmap in the whitepaper appendix. The overall vision is set, however the only real use for the token will be as a tradeable cryptocurrency for at least 8 months until the mainnet is launched. The core project will not be fully developed until after the ICO. There is a VERY ACTIVE GITHUB REPO PRESENT that has increased in activity overtime. Main focus is to use ERC-20 tokens to conduct the ICO and to further develop the goals of the project. A lot of work and time still required for the project to be completed. Scored a (4) on ‘Dependencies’ since the project will be built on the Ethereum network.

Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3.0
N/A
3 - An overall plan, major milestones stated.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

4.0
N/A
4 - Long term.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

3.0
N/A
3 - Getting there.

Compliance

The BEE-token does have intrinsic value through its planned usage on the BEE platform, as it is needed as ‘fuel’ for dApps built with BEE-token protocols. The infrastructure will be fully ready only well after the ICO, and it seems that as of now the main focus is to develop the private beta platform and to complete ICO fundraising.
The BEE-token team has paid great attention to compliance laws and did a manual whitelisting process to enforce KYC/AML laws. Explicitely state they would not allow US / CA / CN / TW / HK participants.
The BEE-tokens will only be used as tradable financial instruments on secondary trading exchanges until the mainnet is released, however a form of payment and settlement is essential to the BEE-token platform and protocols.

Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

4.0
N/A
4 - Distinctive use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

4.0
N/A
4 - Professional.

Company and Team

An established team, whose members either have previous experience with, or currently work for, large and well-known software/technology companies such as Google, Facebook, and Uber. The team has a background set in computer science, software development/engineering, user interface design, and some experience with other blockchain projects such as Civic.
All members have verifiable LinkedIn profiles with credentials, most of the core team members are fully dedicated to the Bee Token project, while others have commitments to other software/tech projects or companies. Many of the advisors to the project have blockchain, cryptocurrency, and smart contract experience as well. Other advisors are well versed in capital managment, finance and business development.
11 Employees. 15 Advisors.
Positives: The core team and lead team members have many years of experience in software, technology, blockchain, and business, and many members are fully dedicated to the project. Many of the team members also hold degrees from prestigious, well-known universities.
Negatives: Very few if any. It would be best if all team members were fully dedicated ot the project.

Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

4.0
N/A
4 - Fully assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

5.0
N/A
5 - Excellent, all aspects covered.

Token Sale

Target raise amount: $15M. Soft Cap completed prior to public sale ($5M sold out in private presale and another $5M sold out in public presale).
Total supply: 500,000,000 BEE-tokens.

Token distribution:
– 30% public sale
– 30% BEE community reserve
– 25% Company Reserve
– 15% Team & Advisors
– The team will be on a 2-year vesting schedule, receiving ¼ of their allocation 6 months after the end of the Public Sale and 1/24 of their allocation every month thereafter, until the 2-year vesting schedule is complete. No one is exempt from this vesting schedule, including co-founders and advisors.

Social Media Presence:

Well received with community engagement on several social media platforms.

Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

3.0
N/A
3 - Justifiable.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

4.0
N/A
4 - Well defined and reasonable.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

4.0
N/A
4 - Most tokens sold, vesting periods on kept tokens.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

4.0
N/A
4 - Solid exposure and interest, good impression.

Leave a Reply

Your email address will not be published.

Most Read Reviews