Announcing the $BEONE Token
Be One is excited to announce that we are launching our token, $BEONE. As the challenger bank built for the global crypto community, the $BEONE token is designed to help our customers have the best banking experience possible. Part reward token, part utility token, $BEONE is designed to better service customers while rewarding use of various services on the Be One platform. $BEONE will be a fair launch hosted by DODO, giving everyone equal access.
Background
Be One is a registered and regulated challenger bank, with a global correspondent network so that individuals and corporate customers can bank freely. Be One’s proprietary technologies allow us to work with companies in the crypto industry, anywhere in the world (outside of sanctioned countries). Be One doesn’t judge — Individuals and corporations who pass our KYC/AML processes are welcomed with open arms and great service. Too long has the crypto community been turned away from banks — Be One’s goal is to help you conduct your business better, because the future of finance depends on you.
Tokenomics
$BEONE is part utility token, designed to better service customers and allow them to pay for services, and part reward token incentivizing use of various services on the Be One platform.
$BEONE tokenomics are structured as follows:
- Total $BeONE Token supply: 100,000,000
- Circulating supply at launch: 0 $BEONE — Be One is bootstrapped and has no VC investors
Token distribution will be:
- Be One User Rewards: 52,260,137
- Used mainly to incentivize users of various Be One products
- Term: Liquid on airdrop
2. Treasury: 26,500,000
- Used to build the operations, strategic partnerships, and support community engagement, etc.
- Term: Unlocked as needed
3. Be One Team: 10,000,000
- Used to incentivize the team, hire people, etc.
- Term: 25% Lock up for 1 year. 75% Lock up for 2 years
4. IEO Launch and Community Incentives: 11,239,862
- 10,000,000 during the IEO launch, 1,239,862 for community incentives, airdrop etc..
- Term: Unlocked as needed
Rewards Distribution
Be One is built with the community in mind. Therefore, users will be rewarded by doing things that benefit the overall Be One platform. For example, this can be in providing liquidity, staking tokens or contributing deposits that can be leveraged as part of Be One crypto-to-fiat loans.
Tokens will be issued over 132 weeks (roughly 2.5 years) with a decrease of 4% in emissions week-over-week. Staking on Be One will start a few weeks after the initial launch and is considered Week 1 for the emissions. Emissions will be based on the following schedule:
- Total Supply: 52,260,137 $BEONE Tokens issued to Be One Users
- Week 1 will see 2,100,000 $BEONE Tokens issued
- Reduction of weekly emissions by 4% beyond then
- 30% of Be One’s profits will be used towards the weekly $BEONE buy-back program, with all buybacks going towards the LP Profit Sharing pool users
What activities will be rewarded?
$BEONE tokens will be airdropped to users for various activities, specifically:
- Crypto Deposits
Users that deposit their crypto currencies in Be One, will be rewarded for their deposits. The amount will be correlated to a user’s total deposits proportionate to the whole TVL in Be One deposits. Deposits can be used as collateral for Be One crypto-to-fiat loan offering.
Note: 60% of the weekly emission allocation will be for Crypto Deposits.
2. Liquidity Pools
Users that stake UNI, SUSHI and DODO LP tokens will be rewarded with $BEONE Tokens for providing liquidity to:
- BEONE (50%) / USDC (50%)
- BEONE (50%) / ETH (50%)
Note: 40% of the weekly airdrop allocation will be for Liquidity Pools, split evenly amongst the pools listed.
3. LP Profit Sharing
Be One has a Profit Sharing Pool here users get rewarded with $BEONE tokens for staking their $BEONE tokens, which will auto-compound.
Note: Rewards for Staking will come from Be One’s buy-back program, NOT new emissions like the Deposits or Liquidity Pools rewards.
$BEONE Initial Exchange Offering with DODO
Be One has selected DODO as the best platform to launch the $BEONE token, as its community is active and passionate about furthering the DeFi landscape, and is comprised of crypto-focused pioneers, professionals, activists, builders and collaborators all over the world. Be One was developed to support the global crypto community, empowering anyone to access great banking services, making DODO a natural fit for our IEO. DODO is the only place to buy $BEONE during the fair launch period.
$BEONE will be offered as a fair launch hosted by DODO, offering everyone an equal opportunity to buy $BEONE during the period of the campaign. Details are as follows:
- Crowd funding form: Fixed Price Crowdpool
- Network: ETH
- IEO Fair Launch Date: May 19, 2021 (exact time TBA)
- IEO Fair Launch Duration : 48 Hours
- Total number of tokens in the Crowdpool: 10,000,000 $BEONE tokens
- Total number of tokens for Sale Participants: 5,000,000 $BEONE
- IEO Token Price: $ 0.50 USD
- Fully Diluted Valuation at launch: $ 50M USD
- Token Contract Address: TBA
- Crowdpool Address: TBA
- $BEONE Staking Launch: Few weeks after the fair launch and is considered Week 1 for the emissions
Incentives:
vDODO holders who hold a balance of 10 vDODO or more will be entitled to receive a special BEONE token airdrop. 100,000 $BEONE tokens will be airdropped to eligible vDODO holders, once a snapshot is taken at a defined time which will be announced. The $BEONE tokens will be distributed evenly to all eligible vDODO holders. More information on this will be provided.
Use of Funds
Funding from Be One’s IEO will be used for 2 primary purposes:
- Grow the team, specifically building out our in-house development team and grow our customer service base globally to bring 24 hour service.
- To develop and launch DeFi offerings we have planned on our road map (see below), as well as develop additional products based on customer demand and community collaborations.
Roadmap
Be One is currently in full Beta with a global client base. Our clients are individuals and crypto-driven companies like protocols, hedge funds, exchanges, venture capital firms, other fintech companies, etc. Be One is not a pipe-dream, it is a reality you can be part of today, and our IEO will go directly into bringing the world of DeFi into your pocket. The next steps in Be One’s road map include:
- Stablecoins for Emerging Markets
There are currently a number of stablecoins based on USD and other major currencies, but there are no viable options for emerging markets. Be One has built the foundation for a network of global stablecoins focused on emerging markets, initially focused on:
- Nigeria ($BENGN)
- South Africa ($BEZAR)
- Mexico ($BEMXN)
- Columbia ($BECOP)
- Thailand ($BETHB)
- Philippines ($BEPHP)
Be One’s stablecoins will be fully fiat-backed, one to one, helping customers all around the world achieve their financial goals with real bankable digital currencies that work for them.
2. Crypto-to-Fiat Loans for the whole crypto community
Be One Loans will deliver a much broader solution for the crypto community, offering loans for a wider array of currencies. Rather than just focusing on major fiat currencies (USD, EUR, etc.) and bluechip crypto currencies (BTC, ETH, etc.) as collateral, Be One will offer crypto-to-fiat loans accepting as collateral currencies such as $DODO, $SUSHI, $BADGER, $FARM, and allowing customers to borrow stablecoins and fiat in USD, EUR but also emerging market currencies. Be One Loans will empower customers to keep their crypto assets, whatever they are, and add additional use for them with $BEONE rewards on deposit and ability to borrow both stablecoins and fiat currencies that fit their needs, wherever they are. Further, gain Loan-to-Value (LTV) of up to 75% and fees as low as 1% APY.
3. DeFi in your Pocket
Be One will integrate popular protocols and tokens, helping customers tap into the world of DeFi with seamless access to fiat, in One. This will allow anyone to access banking-type services with their crypto and fiat using their Be One account, increasing easy and manageability, while reducing the number of transactions required to achieve their financial goals.
Imagine a future where you hold $DODO or $FARM with Be One and can spend it at a local shop without having to maintain multiple accounts, going through OTC etc… All you’ll need is your Be One account.
Thank you!
The Be One apps (Android, iOS and web) will released in phases starting July 1st, 2021 starting with Be One’s waiting list. Strategic partner protocols will also be able to invite their users.
We are excited to grow our commitment to the decentralized economy by building enhanced DeFi services right into our product for both individuals and corporate clients everywhere, helping bring emerging markets into the future of finance. Happy banking fellow HODLers, farmers, builders and catalysts!
Have a wonderful day,
The Be One Team
Community:
- Linkedin — https://www.linkedin.com/company/be-one-financial
- Twitter — https://twitter.com/BeOneFinancial
- Contact and Media Inquiries — info@beone.financial
