The Bee Token

Private pre-sale 20%-100%
100% bonus?????
I love team, and i like idea.
But this 100% bonus kill investors.

bad bad bad financial think.

C1. A Bee Token ICO Class Action is in the making. As of today, there are 143 class members.

C2. The various allegations against Bee Token are outlined in
https://ico-class-action.org/class-actions/bee-token

C3. I would like to invite the team to respond to the allegations here by 7 Jan 2020.

C4. I may revise my ratings after hearing from the team.

Below is an extract from the ico-class-action website on Bee Token:

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1. Has the project accomplished the goals set in the white paper?
Bee token has unquestionably failed to deliver the goals of the project, mostly because there is no confidence in the security of the assets. The hack occurred at the time of the ICO has deprived the issuer of any credibility. The discomfort with Bee token is obvious: only one minor exchange is hosting Bee market pair, there are almost no traded volumes, and the value has lost 98% of its initial offer.
Overall, Beenest website is displaying only a few listings, proving there is no web traffic and no consumer interest in the core idea of the project.

2. How has the team made use of funds? Have funds been used exclusively for the purposes of the project?
The Team raised approx 20m USD from the ICO, and it is clear that funds were not allocated as promised in the white paper:
o 5% of overhead = $1m does not reasonably correlate with current numbers
o 35% Marketing and Biz Dev = 7m expenditure but we haven’t seen any results from such a hefty budget
o 40% the same as the above.
The overall assessment of Bee token is that it looks like an abandoned project: there is no activity, no attempt to create a successful business, and because of that, investors should act fast to claim back their funds

3. Does the token have any utility in place?
The white paper listed tried hard to convince investors of the high potential of the token, stating, the strong correlation between utility and token value appreciation.
Either way you look at it, a token that loses 98% of its value lost has shown no utility at all.
It does not take complex analysis to realise that: no listing in the website -> no fees paid -> no traded coins at exchanges -> no value & no utility of the token.
We believe it is unfair that the issuer pocketed 20m USD and delivered so little to investors.

4. Does this project require blockchain implementation?
There is no reason for creating a newly dedicated token for Beenest: payment can be done with already existing coins such as Bitcoin, Ether, etc.
The only reason Bee token was created was to finance the project, but the issuer has been the only beneficiary of the venture so far.

5. Is the token innovative in some way?
No, – Bee token is just a duplication of the ERC20 token, wrapped in hype.

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A very nice idea which is currently being led by a strong team to match. There is a good vision in place as well. I look forward to seeing the development of this idea

The new generation of "Airbnb"on blockchain, with a great team, good luck

- Great experienced team
- Great vision
- No alpha

Team is quite strong coming from well-known companies. The vision is great but no alpha has been released yet on the product side.

The team has many engineers with solid background and a bunch of Googlers to boot. In fact compared to many this team looks decidedly tech heavy.

The vision isn't 5-star to me because it fails to mention this set of three protocols could be applicable to P2P sharing of almost anything, not just rental properties. It is wasteful to create these protocols to be applicable to just rental property and lock up the reputation scores in this limited domain. I think a more generic P2P service could usurp them by getting a bigger more inclusive network of accomodation, car, and other property rentals.

For product we don't have much to see yet. The list of contracts is good but we don't have source code or an alpha to look at.

Good team.

There is no much vision but a copy of a traditional service that people know well like AirbBnb could be a good move to bring them closer to the blockchain technology.

The problem today is there is no usage of token and Dapp. With this product it will be different.

Team 5: Looks like a great fit, met them in person on a blockchain conference.

Vision 5: With the current growth of population, sharing economy is the future.

Product 5: Working prototype. And have the money to grow even more.

This is not an investment advice, please make your own research

Still in development at the moment.

- Team is verifiable and strong
- Disrupting a very large market
- Very large backing a community with pre-sale selling out in 5 minutes.

Would like to see an MVP. Could revisit the rating when there is something available to test.