BeeSwap, an NFT and DeFi application project built on the Huobi Eco-Chain (HECO), has announced that its platform token, BEE, will officially be listed on the Soup Capital exchange on March 12. According to official information, the subscription period for BEE tokens is from March 5 to March 11. The listing price ranges from $1 to $5. This priority listing on Soup Capital aims to enable more users to access this DeFi project centered around NFTs.
From a product structure perspective, BeeSwap mainly consists of four parts: Worker, Store, Farm, and the NFT-DAO governance mechanism. The Worker is primarily responsible for providing liquidity. The Store is an NFT purchase and auction platform where users can obtain different types of NFT-BEE by purchasing blind boxes or participating in bids. The Farm is a blockchain farming game where NFT-BEE can generate the platform token BEE.
In terms of governance, BeeSwap introduces the concept of NFT-QUEEN. Unlike regular NFTs, users holding the Queen NFT possess the right to propose, allowing them to initiate suggestions related to community governance. All proposals are recorded on-chain.
Regarding tokenomics, the total supply of BEE is 21 million, with 90% generated through liquidity mining and NFT-BEE, and the remaining 10% allocated for ecosystem development, product research and development, partnerships, etc. A notable mechanism is the recycling and burning: when users spend BEE on purchases in the Store, feeding in the Farm, or participating in community governance, 90% of that BEE is sent to a black hole address for burning, while the remaining 10% enters a governance fund. The community decides how to use this fund through voting, for purposes such as incentives, airdrops, or ecosystem development.
For example, Worker Bees, Drones, Bumblebees, and the Queen Bee have the same initial acquisition cost, but their total output and lifespan differ. The Queen Bee has the longest lifespan, lasting 360 days. Users can feed BEE to extend the lifespan of their NFTs or increase their output. This design influences the circulating supply of BEE to some extent, as part of the BEE used for feeding is burned, creating a deflationary effect.
BeeSwap completed market research, product development, and contract auditing in 2020. It successively launched the Worker and Store in early 2021, and initiated liquidity mining in February. The upcoming listing of BEE on Soup Capital marks a new phase in its development. As trading commences on March 12, the market performance of BEE will also attract attention.
Leave a Reply