The Bee Token Sale is complete

Dear Bee Token community,

The Bee Token Sale is complete! We have reached our hard cap. We will not have any follow up sales. Please do not send any ETH to any address. Tokens will become transferable on March 1st at the latest, but may become transferable earlier based on our product timeline. Presale bonus tokens will be distributed on April 1st.

Although we had a huge amount of support from the community, we realize not everyone interested in participating in our token sale was given the opportunity nor were they able to participate at their desired contribution amount. We deeply regret not being able to accommodate the ~80K whitelist applicants who were unable to participate in the Token Sale. The team is working on ways to recognize dedicated community members who were not able to be involved.

There were a number of factors that affected the token sale limits including:

  • Over 100K+ people applied to our whitelist
  • Our hard cap was only 5K ETH
  • The price of ETH rose to over $1000+ from $300 since last September

Even after reducing participation numbers through KYC verification and restrictions on prohibited countries, the demand for our base contribution limit outstripped supply. On that note, here are some numbers from our Token Sale:

Whitelist applicants: 100K+

Participants Approved to Join the Token Sale: 25K

Participants Who Sent Contributions: 20K

ETH Collected: 5K

Additionally, we want to address security concerns around the Token Sale. As previously stated (https://medium.com/@thebeetoken/security-update-38d5bbfaa50e), we are aware that some members of the Bee Token community received a message from fortumo.com purporting to come from Bee Token and giving instructions for depositing your tokens. Please disregard the message and do not follow the transfer instructions in the message. We are taking this matter very seriously and are actively reviewing the situation. At this time, we have no evidence that any of Bee Token’s systems were compromised in this event. We will update the community as appropriate once we have additional information so please stay tuned to this Medium channel.

That said, we want to thank all of our community members for their continued support! The team has been truly speechless over the response we received from hosts and guests eager to decentralize the home sharing market. We never imagined we would receive the tremendous amount of support that we did. This is just the beginning of our mission to decentralize the sharing economy and we look forward to revolutionizing home sharing, one home at a time.

If you would like to apply to become a host, please fill out this form (https://beetoken.com/hostinterest).