Q1. What is Bee Network?
Bee Network is a blockchain-based innovative technology that aims to help users to earn Bees in a gamified experience. Users earn Bees through 3 roles: Pioneer, Ambassador and Verifier.
To make Bee valuable, we strive to make Bee Network a real-life social network and to guide players to use Bee as a medium of exchange for goods and service in real life, with the long-term goal of listing Bee Network on an exchange.
Q2. How to earn Bee?
There are 3 ways to earn Bee.
a. You can log in to Bee Network as a "Pioneer" and press the start button every day to activate the next 24H earning period, thus automatically earning the basic hourly income as a Pioneer for the next 24H session, which is 1.6 Bee per hour. The earning rate will be halved to 0.8 Bee/H when we reach 100k total users. Then halved to 0.4 Bee/H for 1 million users, halved to 0.2 Bee/H for 10 million users, and halved to 0.1 Bee/H for 10 million users. At 1 billion people, there will be no new supply of Bee and hourly revenue will be 0.
b. You can introduce new members to your Pioneer Team as an "Introducer" and keep each other active by logging in once every 24 hours.
You will also be able to verify the identity of your earning team members with a simple keystroke as an "Ambassador" and you will earn additional hourly income as an Ambassador. For more information on these 3 roles, please read https://www.bee.com/roles.
Q3. What do I have to pay to earn Bee? Does it cost money?
You don't need to pay anything to join Bee Network and earn Bees, though, this doesn't mean that Bees are worthless. In order to make the Bee Network gaming experience more playable and meaningful, we strive to create a network of people outside of the game, facilitating real-life interactions between players and using Bees as a medium of exchange for goods and services. Therefore, the development of the project requires every contribution to the Bee Network ecosystem, and the Bee is your reward. So, please make sure to log into Bee Network and activate a new 24H earning session every day.
Q4. What's the max supply of Bee Network?
When Bee Network reaches 1 billion users and stops supplying Bees, the total supply of Bees = M + R + V + C.
M is the sum of all Pioneers' Bee amount from the start of the project to zero supply, R is the sum of Ambassadors' Bee amount, V is the sum of Verifiers' Bee amount, and C is the sum of incentive Bees received by Bee Network team, which is 25%*(M + R + V ). Thus the actual amount of Bee Network total supply will depend on how active all users are before the project reaches 1 billion users.
Q5. What is the potential of Bee Network?
Bee Network's value will be influenced by the number of players in the network, the frequency and total number of transactions between players, and the liquidity and timing of the trading market. Just like Bitcoin, its value was $0 when it was launched in 2008, but today Bitcoin has traded at several times its value as factors such as popularity and market acceptance have supported it. Since it requires time to develop the Bee HIVE and joint efforts to build the Bee Network ecosystem, we need to be patient and maintain common consensus as always.
Q6. Why lower the Bee earning rate?
In order to ensure that the value of the Bee Network is stable and prevent any negative fluctuations, we must reduce the supply (known as "halving") to maintain the supply-demand chain for the Bee. By reducing the supply of Bees, Bee Network can maintain the scarcity of Bee to ensure the value of Bees held by our Bee Network users, which is you. Take Bitcoin as an example. Halving is a common action, happening about every four years, and the price of Bitcoin actually goes up with each halving. Simply put, reducing the supply of Bee Network protects the value of Bee.
According to our roadmap, there will be a total of 4 halvings of Bee. On December 8 2020, when we had 100,000 users worldwide, the first harvesting revenue halving (-> 0.8 Bee/hour) is complete. The next three times are when the entire Bee user base grows to 1 million (-> 0.4 Bee/hour, already done on January 9 2021), 10 million (-> 0.2 Bee/hour, done in July 2021), and 100 million (-> 0.1 Bee/hour) When the global user base reaches 1 billion, no Bee will be supplied.
When you realize that you are not earning Bee as fast as you used to, believe that this is a very important measure to create and increase Bee Network's value by halving.
Q7. Why is there a difference between Bee's displayed balance and actual balance?
The balance on the application home page is your current "temporary" earning amount. The actual balance will not actually be transferred to your account until you complete the 24H earning session.
For example, suppose your base earning rate is 0.8 Bee/H and you have 10 Pioneers in your earning team and 7 of them are active at this time, then you will receive 0.8 Bees (base earning rate) + 0.8 Bess/H * 7 * 25% (bonus from referrals) = 2.2 Bees /H today.
Q8. Why is Bee Network invite-only?
If Bee Network can't serve as a medium for real-life transactions between users, then the Bee is nothing more than a set of numbers. In order to promote the value of Bee Network and ensure secure transactions between users, the Bee Network's user network should only consist of authenticated real people. Bee Network relies on existing authenticated users to invite people they know in real life to join together. Therefore, new users can only join the Bee Network through invitation code shared by the already-joineds. Besides, to encourage users to verify each other to ensure the security of the Bee Network, Ambassadors will be rewarded with an additional hourly earning rate. By doing so, we are committed to ensuring the reliability of the Bee Network from both a technical and personnel perspective.
Q9. Can I change the phone number if I use it for first login?
No. Once you choose to use your cell phone number as your registration method, you will only be able to log in to the account bound with phone number via SMS verification code. Therefore, if for some reason your SIM card is not your landline phone number, we recommend using Facebook, Apple or Google as your login method.
Q10. Can I change my username?
No. The username (also your invitation code) can not be changed, as it represents your unique identity in Bee Network.
Q11. Can I change the invitation code I used for signing up?
No. The invitation code that you used for signing up from the very beginning can not be changed, because we're supposed to comply and respect the invitation system developed by the team with its operating rules.
Q12. How to build my security circle?
The member limit in the security circle is 7. You can add team members to the security circle to increase the earning rate. Each active member in the circle will give you a 20% speedup, up to a maximum of 100%. Note that only active members will give you a speed boost, so, don't forget to remind your teammates to stay active.
Q13. Can I withdraw my Bee and when?
You can not withdraw any Bee in stage 1 and stage 2. According to the roadmap, Bee Network will be listed on an exchange, at which point Bee will be tradable. Each stage of development requires the joint support and efforts of multiple parties, and the timing of reaching each stage will depend on user growth and community development. Bee Network is a community that will take concerted effort and time to build, so if you're hoping to get rich overnight like winning the lottery, then unfortunately this may not be the place for you.
For more information, please read the white paper: https://bee.com/white-paper.
Q14. When can I exchange fiat currency on the exchange?
Bee Network launches on August 8, 2020 and we are now in stage 2, having built a trusted network of users through KYC and continuing to enrich our community ecosystem. Stage 3 marks the point when Bee Network will be listed on an exchange and users will be able to exchange Bee for fiat currencies such as the US dollar.
Q15. Will Bee Network consume a lot of battery or data traffic on my phone?
No, it doesn't. When you open Bee Network App and activate your 24H earning session, you will consume a negligible amount of battery and traffic data, and the process can be completed in less than 10 seconds. There is no need to keep the Bee Network App open after activating a new earning session. When you close the App, it will not run in the background and will no longer consume your phone's battery or data traffic.
Q16. Is Bee Network a scam?
The blockchain theory is well proven nowadays. Cryptocurrencies such as Bitcoin, ETH and Tether have long been assets that can be traded for goods and services in the marketplace or exchanged for fiat currency (e.g., U.S. dollars). Blockchain technology is the basis for the design of the Bee Network and can be found in our white paper at https://www.bee.com/white-paper.
To ensure that Bee Network is not used as a scam, direct payments from users are not accepted. Users will not be able to exchange their Bee for fiat currency until Bee Network is in the 3rd stage of development.
Bee Network has invested huge fund in acquiring the website domain name bee.com. The team has also invested resources in hiring global blockchain consultants, IT experts and community managers to work with us to ensure that we provide a quality service to all our users. Bee Network has reached a rapid growth of over 800,000 user registrations worldwide within 5 weeks of launch, which is proof of public acceptance. Bee Network is listed as a free App available on both App Store and Google Play, it's clear that it's a project with security tested by the markets.
Q17. How to get the most recent Bee Network App?
You can get the latest version of Bee Network App through the application store on your phone, or you can also download the installing apk provided on bee.com and run it on you phone (android system only).
Apple Store: https://apps.apple.com/app/bee-games/id1529988919
Q18. How to get the latest news about Bee Network?
You can follow our public page and channel for the latest news and project notice.