Bee Network Tokenomics, KYC, and TGE: What We Know

Bee Network, a blockchain-based Web3 interaction platform, has been steadily gaining traction in the cryptocurrency space with its mobile mining model, reminiscent of projects like Pi Network. 

After successfully entering the third phase in its development, the platform is expected to progress toward its mainnet launch. However, as with many projects that have been building for years, the community is eagerly awaiting updates on its tokenomics and Token Generation Event (TGE). 

Additionally, the Know Your Customer (KYC) process has been a focal point for users preparing to withdraw their earnings. With this in mind, what do we know about Bee Network’s current stance on tokenomics, TGE, and the KYC verification process? Let us take a closer look at the protocol’s ecosystem, tapping into official communications and community interactions to provide a clear picture as of April 2025.

Understanding Bee Network: A Web3 Mining Platform

Bee Network operates as a decentralized autonomous organization (DAO) and positions itself as a leading Web3 platform, often referred to as "the world's largest Web3 portal" on its official website. 

As detailed in our Bee Network Deep Dive, the platform enables users to mine Bee coins, which may be converted to Bee tokens, directly from their mobile devices. This process aims to drive a community-driven approach to cryptocurrency adoption, similar to the same models adopted by Pi Network and Ice Open Network. 

Focused on incubating decentralized applications (DApps), Bee Network has built a substantial user base, with over 40 million users celebrated on “Earth Day,” coinciding with the annual celebration held on April 22. 

Bee Network Tokenomics and TGE: Still Awaiting Announcement

Tokenomics, the economic framework governing a cryptocurrency’s supply, distribution, and utility, is a crucial aspect of any blockchain project. For Bee Network users, understanding the tokenomics of Bee tokens, including total supply, staking mechanisms, and in-app transfer capabilities, is crucial for assessing the project’s long-term potential. Further, users need to know how their mined coins will be converted to the native asset when it eventually launches

However, as of the time of writing, Bee Network has yet to announce its tokenomics, leaving the community in anticipation. In fact, the last mention of tokenomics dates back to November 12, 2024, when a user reached out to the official Bee Network account on X, seeking clarification on the total supply of Bee tokens available to miners, as well as details on staking, lockup mechanisms, and in-app transfers. 

The official response stated, "The Core Team will announce Bee tokenomics and other details at an appropriate time." This reply, while not providing specific details, confirms that the Bee Network team is working on finalizing its tokenomics and plans to share this information with the community in the future.

The lack of a concrete announcement has led to speculation within the community as they continue to await further updates, which are likely tied to the platform’s broader mainnet launch timeline.

Speaking of the TGE, it is a pivotal milestone for cryptocurrency projects, marking the distribution of tokens to users and often coinciding with the transition to a fully operational mainnet. For Bee Network, the TGE is a highly anticipated event, but details remain scarce.

A related update on Bee Network’s website discussed token locking post-TGE in the context of another project, RedStone, indicating a standard industry practice. However, this does not confirm Bee Network’s TGE plans. In any case, the official X response to @tinypezako suggests that the TGE and tokenomics announcements may be released together, providing a comprehensive overview of Bee Network’s economic model and token distribution strategy.

Bee Network KYC Process: A Closer Look

The KYC process is a foundational element of Bee Network’s ecosystem, enabling users to verify their identities in preparation for withdrawing earnings once the “Open Internet” or mainnet launches. The verification process has been rolled out in phases, with the protocol opening it in slots (limit-mode). 

By April 2024, 300,000 KYC slots were issued to users. The platform has also committed to expanding the types of identification accepted in future rounds, with verification opportunities opening weekly every Tuesday. Users can initiate the KYC process through the profile section of the Bee Network app; however, they should expect a processing time of over 3-14 working days due to high submission volumes.

The KYC process is mandatory for withdrawals, making it a crucial step for users who have been mining Bee tokens. Bee Network has emphasized the importance of enabling notifications to receive updates on verification results, ensuring users stay informed about their status.

It has been a topic of discussion among Beeleivers, with some reportedly expressing concerns about its efficiency. However, a detailed investigation into user feedback reveals a more nuanced picture. Despite mentions of a "poor" KYC system, no widespread complaints were identified in recent research. Most available information focuses on assisting users with the process rather than highlighting significant issues.

The big question, however, is when Bee Network will open mass KYC for every user. For context, the protocol created a poll on X, asking if mass KYC should be rolled out to users. While the vast majority want it to be made available for everyone, the protocol has remained coy, opting to continue rolling it out in batches. Still, it has continued to tease the initiative in recent weeks. 

Conclusion: What Lies Ahead for Bee Network?

Bee Network is at a crucial juncture, with its tokenomics and TGE announcement still pending and a robust KYC process in place to support its growing user base. The team’s activities, particularly on X, suggest that it is preparing to share tokenomics details, which will provide clarity on the total supply of Bee tokens, staking mechanisms, and other key aspects. The KYC process, despite some user concerns, is generally functioning well for most users.

For those invested in Bee Network, staying updated via the official website and X account will be essential to understanding the next steps. BSCN will continue to monitor Bee Network’s developments in 2025 to see if the protocol might eventually deliver on its promise to users in the blockchain industry.