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September 10, 2019, 08:51:22 AM |
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BEEX will officially list BEE Coin (BEE) at 12:00 (Singapore time) on September 16th and start trade mining.
About BEE
BEE Coin（Symbol：BEE） is a native cryptocurrency issued by BEEX. The total circulation is 100 million, no reservations and no additional issuance. BEEX will buyback BEE and all BEE bought back will be burned weekly with platform fees and activity income until the total is 21 million BEE. BEE holders will continue to receive a series of rights such as discount handling fees and subscriptions on the BEEX platform.
Total Circulation
100 million; no reservations and no additional issuance, all mined by trade mining.
Issuance
BEE will be mined on the BEEX platform through open and transparent trading. The mining is divided into five stages, and the output will be halved after each stage, until 100 million BEEs are fully mined.
The first stage: 300,000 BEE per day for 180 days;
The second stage: 150,000 BEE per day, for 180 days;
The third stage: 70,000 BEE per day, for 180 days;
The fourth stage: 30,000 BEE per day for 180 days;
The fifth stage: 10,000 BEE per day for 100 days.
Trade Mining Mechanism
BEEX will allocate BEE based on the proportion of the user's trading volume to the total trading volume of the platform the last day.
The specific calculation formula is as follows:
User Daily Trading Volume = User Daily Actual Trading Volume * (1 + Activity Bonus) + Invited Friends‘ Daily Trading Volume * Invitation Bonus
User Daily Output BEE Quantity = Daily BEE Output Total * User Daily Volume / Total Users‘ Daily Volume
* Activity Bonus: The BEEX platform will hold activities from time to time, sponsored by other project teams; during the activity, holding the sponsor's token can obtain the “Activity Bonus” to speed up mining.
*Invitation Bonus: 0.2 (20%) of your Lv1 friends' trading volume; 0.05 (5%) of your Lv2 friends' trading volume.
BEE Rights
Participate in the Token Sale;
Discount trading fee;
Enjoy the scarcity of BEEX's continued buyback and token burn;
Stake BEE to become a BEE partner and obtained a super invitation coefficient;
More scenes, stay tuned.
Buyback Plan & Token Burn
The 70% net fee per day that the BEEX platform receives will be used for buying back BEE on the secondary market . 70% of the activity revenue and sponsorship fees received by the BEEX platform will be used for buying back BEE on the secondary market .
Every week, all the BEEs bought back will be burned/destroyed, the on-chain transactions will be announced at the first time; the burning plan will be implemented until the total circulation is 21 million.
Rules
1. BEEX is an aggregate trading platform, some of its orders come from the top exchanges of cooperation; the net handling fee is the final handling fee after deducting the handling fees of other exchanges. This part of the 70% fees is used to buy back BEE, and the remaining 30% will be used for BEEX maintenance.
2. BEEX will disclose the daily mining process and transaction data in the announcement center.
3. In the first stage of mining, the trades completed through the API do not participate in mining.
4. Wash trading will be regarded as invalid behavior, and the volume will not be included in the daily trading volume.
5. The BEE/USDT trading pair will be officially launched on the third day after mining is started.
6. The BEEX Partner Program will be launched soon, so stay tuned.
7. BEEX reserves the right to change some of the rules and terms.
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