- Today I'm covering a new node-like project,
that I think is going to make quite the buzz
in the DeFi space.
And it's not every day I come across a project,
where I plan on investing in it pre-launch,
let alone when there isn't even a white paper.
And that project we're going to be looking at today
is the Hive Network.
Is Hive really the honey hole
offering investors a chance for life-changing money?
or is it another defi bust?
And that's the question
I'm going to be attempting to answer today.
So by the end of the video,
you should know if it's right for you.
Let's dive in
(soft music)
What's up guys.
My name is Kris, and on this channel.
I cover different ways
I'm making passive income online.
And today we are talking about the Hive Network.
Hive is a DaaS, or a DeFi-as-a-service project.
And it's launching on MATIC blockchain
on the 15th of March, this month.
This launch will include the native Hive token,
which costs $100.
And once you purchase 10 Hive,
you can then min one of the 40,000 NFTs.
And then you can earn daily income.
Now, before we go too deep, down the beeHive, so to speak,
if you could take your button,
and pollinate the like button for me,
it would really help the video out.
And while you're down there,
go ahead and check out some of my other playlists
on how you can make money online.
Now, Hive has over 20 founders.
And if you're familiar with the Thor project,
you'll recognize one of them.
His name is Colin, formally known as lowkey,
a moderator from the Thor node project.
And all of these members have been completely KYC'ed
by Assured Defi,
a company that has hundreds of KYCs under their belt.
And Colin has completely doxxed himself.
And on top of that, they're going to have
additional contract and security audits,
to try and combat those transparency and trust issues
that all new crypto projects face.
And I think this is a step in the right direction.
However, KYCing does not guarantee a rug pull
will not happen.
We saw a rug pull scenario won't happen
with Time WonderLand, where there were a few members
of the Time WonderLand team that were doxxed.
All this does,
it just decreases the chance of this happening.
Now let's get into the tokenomics of the Hive Network.
On March 15th, you'll be able to buy 10 honey
to mint one NFT, and one honey is $100.
There are 40,000 NFTs available.
And one NFT will earn you 0.05 honey per day,
which will be $5 per day at the $100 launch price.
So if you do plan on buying this project
you want MATIC in your Metamask wallet,
and then you'll be able to buy the honey token
on SushiSwap.
So once you have the NFT, you then earn honey.
And this is similar to other NFT projects
that I've talked about in other videos,
where you then have that NFT,
and then you can stake it to earn income.
However, unlike the other node projects
that I've talked about before,
that incentivize investors with extremely high rewards
that are not sustainable,
that they'll have to taper out over time,
they're actually taking the opposite approach here.
So what they're doing is,
they're starting with lower rewards that are sustainable,
so they never have to cut rewards.
And this is similar to the old adage of,
"Under promise, and over deliver."
And also unlike the other projects
that I've talked about before,
where you then have to pay a price for that node,
that you'll never see again,
you can withdraw your original investment,
by then selling your NFT on their NFT marketplace
called Hexagon.
And they also stated in an AMA,
which I'll leave it down in the description below
on how the thousand dollars price point for this
is a premium type NFT project.
And it's to prevent the
quote unquote moon boys from joining.
However, if you do not have $1,000 in your budget
they do have ways for people with smaller budgets
to enter the ecosystem,
which have not been announced yet.
This means you're going to need at least $1,000,
if you want to mint an NFT.
And there's going to be three types of NFTs
that you'll have the chance to mint:
There's a Guardian, which you have a 1.5 chance of minting,
which will earn you 0.1 honey per day, or 10 USD.
And lastly, there's the Queen,
which you have a half a percent,
or a 0.5% chance of minting,
which will earn you 0.2 honey per day, or 20 USD.
This means annually,
assuming the price of honey stays the same at $100,
you'll earn $1,825 for a Worker, $3,650 for a Guardian,
and then $7,300 per year for a Queen bee.
It's also worth noting
that every 8,000 NFTs that sell,
the price to mint an NFT goes up by a half a honey.
This means that the last 8,000 NFTs to mint
will cost 12 honey.
And you can buy an NFT on the open marketplace
once they're all minted,
but you'll have to pay a 7.5% royalty.
And those royalties will go back into the reward pool.
And it's also worth noting
that if you want to sell your honey at any time
you're going to be charged a 15% tax.
And I think that these taxes on these types of projects
are a double edge sword.
On one hand, it keeps tokens in the project,
and it incentivizes investors not to sell.
On the other hand, it kind of goes against the entire reason
crypto and DeFi was made altogether,
And that is for low transaction fees,
and to get rid of the middleman.
So I don't really know how I feel about this.
And despite not having its white paper yet,
it's been selling its queen bees
anywhere from 45 to $90,000,
depending on the amount of money daily it makes.
This means that if the average price of all 20 that sell
are $60,000,
they'll have about $1.2 million for startup funds
to get the project going.
Now, something that I think is really interesting here
is the fact that someone bought a Queen for $60,000,
at 0.8 honey per day.
That's how much it produces.
And that turns out to be about $80 per day,
based on the launch price of the honey token.
However, they could have just bought 16 NFTs
to get that same 0.8 honey per day.
And what this tells me is that $16,000, or 16 NFTs,
they're betting on this project to go up.
And this is the same for all 20 Queen NFTs
that are being sold.
And this tells me that they really believe in the project.
And I think tokenomics is a great factor
to look at projects.
But it's also important to have a great community
behind the project itself.
And this project has 28,000 followers on Twitter.
So the hype is real on this one guys.
Now the Discord launches on March 5th.
And the only way to get whitelisted for this project
is to actually be active in the Discord.
And they're giving away 250 whitelist spots.
- The people who get whitelist are random people
within our community who contribute and do something cool.
That's everything from art,
to being really helpful in the comments,
to being really positive with other community members.
There's many different ways that you can get a whitelist,
but that's all being done randomly.
- What a white list spot will guarantee
is that you get the launch price for a honey,
so that you actually get in
at that a hundred dollar price point,
in case it spikes upward,
and then you have to pay more for your NFT.
Another thing to know about the white list spots,
is that they're capping it at $5,000.
So that means that a whitelist spot,
you'll not be able to buy more than five NFTs.
- And the white list is very limited.
And it's specifically for our community.
- Now that we know the goals of the project
and the exact to utility, and how we'll make money
if we do purchase one of these NFTs,
what's the actual utility being offered here?
Per Collin in the AMA,
"It's to bring more individuals into MATIC network,
"and to drive on chain utility into this ecosystem."
But the extent of that utility is still yet to be addressed.
One thing they did mention though,
is there's going to be an NFT marketplace called Hexagon.
and they'll be generating transactional revenue
on that marketplace.
And that will be a large part
of their entire ecosystem,
and how they plan on driving, sustaining growth
to the reward holders.
If you saw my video,
where I talk about Strong and Thor,
and all of those node projects,
and how they're all fighting an uphill battle,
based on no cap on the nodes,
and then an unreasonable amount of rewards
that are being given out,
which will increase the sell pressure
on that project in the future.
This project actually addresses those two main concerns,
and it does it by capping the number of NFTs at 40,000.
They also say
that they will increase the amount of NFTs if need be,
only if the actual network requires it.
And I think that's great
that weave that flexibility in there,
and also the fact
that they're starting the rewards off so low.
I like the fact that it's five dollars a day,
on a thousand dollar investment.
That means my break even on this project
will be right around 200 days.
And if you remember from that video, I specifically said,
"I'm looking for projects that have that
"six, seven, eight month break even time,
"not two, three, four months.
"That's just not sustainable."
I do think a couple of the cons with this project though
is that we're betting on the fact
that they can create utility.
And I think it's just going to depend
on how that actually goes
to driving an actual project that will last years to come.
And I want to hear more in the next AMA
about their NFT marketplace,
and how in on standing out
against all of the other NFT marketplaces
that are out there,
because it's an extremely competitive place.
And to just say you're going to make an NFT marketplace
and be successful, I think is a big ask.
So that's something I want to know more about.
and we need to realize that all
of these projects are extremely dependent on Bitcoin.
So yes, we can withdraw our original investment.
But if Bitcoin down,
our original investment is going to drastically decrease.
And if Bitcoin does go below $29,000,
it is possible that we will enter a deep bear market.
And bear markets are where even great projects can die.
And the graveyard of cryptos from the past bull runs,
is endless.
My own personal strategy
with all of these types of projects,
is to have a certain amount
of funds designated for small cap, high risk projects.
And I just spread a little bit of funds everywhere,
in hopes that one will work out.
And I do think that many of us in the community
know that these types of projects, Strong, Thor,
all of these types of nodes,
that promise high rewards,
are not likely to succeed.
But at the end of the day,
it only takes one to make life-changing money.
And guys, if you did like this video,
consider subscribing for new videos every single week.
Check out my playlist down below.
You'd be surprised at how far one video a day can go.
Thanks guys for watching.
Stay safe out here, and I'll see you next time.