Monday, April 18, 2022

SBU DAO

#BHNY # Social BEES University DAO The Social BEES University Decentralized Autonomous Organization (”SBU DAO”) is a group of hard-working misfits with deep industry expertise and caring hearts who enjoy their nightly parties and are crazy enough to think they can change the world. Social BEES also love innovating and collaborating while searching for like-minded believers in a new, token-driven, decentralized, global economy, where people will be rewarded for being the most valuable asset in the world. Social BEES University is a collection of 13,838 unique, programmatically generated NFTs deployed to the Ethereum Blockchain that governs the SBU DAO and DAO treasury. The BEES are made up of 12,958 worker BEES, 660 Princess Queens, and 220 Royal Queens. # **TLDR;** - The Social BEES will be a fully on-chain DAO - Governance runs completely via on-chain proposals and voting - Voting proposals can be submitted on-chain by any BEE - The BHNY Token and Treasuries can grow value for the Social BEES - All BEES are Asset-Backed - Honeypots are liquidity pool tokens and provide tax protection - Newly minted BEES will be sold at auction - BEE holders can propose to release their EmpowerMint BEE - A Token Curated Registry will manage day-to-day DAO operations - Net secondary sale proceeds are explained # Governance ![1Bee1vote.png](https://s3-us-west-2.amazonaws.com/secure.notion-static.com/e3d31a1f-4338-42cc-9a22-0a6aa2d0866e/1Bee1vote.png) A DAO is a Decentralized Autonomous Organization; it is community-owned and its members are validated by tokens held in their cryptocurrency wallets. SBU DAO members have the governance rights to make proposals and the voting power over those proposals. The SBU DAO will have control over: - The SBU DAO Treasury, via proposals - Contracts and interactions pertaining to the DAO - Ecosystem tokenomics The SBU NFT holders have complete control over the DAO smart contracts (“DAO Contract”). Any proposal or interaction pertaining to a DAO Contract will require a vote to pass. Contract proposals will require a 20% quorum and a 70% “FOR” (i.e., affirmative) vote in order for the vote to pass. Governance proposals and voting will occur fully on-chain (Ethereum). Ethereum transactions incur transaction (i.e., “gas”) fees for the individual or organization initiating the transaction. The submission of any proposal to the DAO will be a transaction on the Ethereum blockchain. Every interaction, proposal, and vote pertaining to the SBU DAO Contract will be conducted with complete transparency to every Social BEES University NFT holder and the world. > This “Ethereum contract” address will provide full ethereum blockchain transparency to support the points discussed in the “Governance” section of this document. Ethereum contract: [0x088D95AE734091d4e3530302603b16B2A7457F9D](https://etherscan.io/address/0x088D95AE734091d4e3530302603b16B2A7457F9D) > # Proposals Any current SBU BEE NFT holder can submit a proposal to the DAO. A proposal can be one or more transactions executed by the SBU DAO contract. Proposals can range from funding specific Ethereum addresses to more complex arrangements that might require interaction with other smart contracts. A more detailed guide to the proposal system will be provided in the future. # SBU Honey (BHNY) Token **Governance, Farming, and Utility** BHNY is created for governance, farming, and utility. BHNY will be widely used throughout the SBU DAO ecosystem (i.e, Voting, Farming, Auction, Honeypots, BHNY transaction tax, Treasury, and more). The “Ethereum contract” address below will provide full ethereum blockchain transparency to support the points discussed in this section of the document. > This “Ethereum contract” address will provide full ethereum blockchain transparency to support the points discussed in the “SBU Honey (BHNY) Token” section of this document. Ethereum contract: [0xCc802c45B55581713cEcd1Eb17BE9Ab7fcCb0844](https://etherscan.io/address/0xCc802c45B55581713cEcd1Eb17BE9Ab7fcCb0844) > ### Token Allocation ![the_honey.001.png](https://s3-us-west-2.amazonaws.com/secure.notion-static.com/20dda8d8-d6af-41b3-ac71-75888a410437/the_honey.001.png) ## **Update: The SBU DAO misfits have gone crazy and burned most of their tokens.** The **BHNY Burn** is closed now, having burned a total of 34,165,200,000 BHNY (burn address: [0x000000000000000000000000000000000000dEaD](https://etherscan.io/address/0x000000000000000000000000000000000000dEaD#tokentxns)) out of the 38 billion initial BHNY. As of this update (7/25/2022) another 5,250,000 BHNY will be burned in secondary sales in days to come. ![Final BHNY Burn Results](https://s3-us-west-2.amazonaws.com/secure.notion-static.com/e2e4f3de-1da6-4c73-8e3e-748cbbbcf9fd/Screen_Shot_2022-07-24_at_0.04.23.png) Final BHNY Burn Results The result: the new BHNY total will be 3,829,550,000 allocated in the following fashion: - 3.8 billon BHNY locked into the Asset-Backed BEE NFTs, - 29,450,000 BHNY in circulating supply, and - 100,000 BHNY apportioned to SBU Labs. ![Updated BHNY Distribution Chart](https://s3-us-west-2.amazonaws.com/secure.notion-static.com/10a77991-2c96-449d-a534-ef242cdede45/Screen_Shot_2022-07-24_at_0.22.14.png) Updated BHNY Distribution Chart ### BHNY Transactional Tax Every time BHNY is moved, it will incur a transactional tax of 10%. The destination of the tax proceeds is automatically allocated in the following fashion: - 4% of the moved BHNY tokens will be sent to SBU DAO Treasury. - 3% of the moved BHNY tokens will be sent to Honeypot Storage - 2% of the moved BHNY tokens will be rewarded to Queens! (1% Princess Queens, 1% Royal Queens). - 1% of the moved BHNY tokens will be sent to the burn address: ([0x000000000000000000000000000000000000dEaD](https://etherscan.io/address/0x000000000000000000000000000000000000dEaD#tokentxns)) > This Ethereum contract address will provide full ethereum blockchain transparency to support the points discussed in the “BHNY Transactional Tax” section of this document. Ethereum contract: [0x3eD166970fBa137619ad09B55bEc06F136C251c9](https://etherscan.io/address/0x3ed166970fba137619ad09b55bec06f136c251c9/advanced#internaltx) > # Asset-Backed BEES 99.23% of the BHNY total supply will be locked into every BEE in the Social BEES NFT collection (3.8 billion). - On May 11th 2023, the Social BEES NFT-allocated BHNY will start yielding at a predetermined rate of 2% per year from the circulating supply on that day , unless previously changed by the DAO (as of 7/23/2022, the current circulating supply is 29,550,000). - The DAO — via proposals and voting — will be responsible for any changes to the yearly yield rate (between 0% to 30%) **prior to** May 11th of each calendar year. - After May 11th 2023, any BHNY that is burnt with an approved rebase contract will be an additional yield to Asset-Backed BEES. - Every time a BEE claims BHNY, it will incur a 50% Queens Tax. - Queens Tax is distributed 50% to Princess Queens and - 50% to Royal Queens. - Queens are also taxed when claiming BHNY from the yielding of asset-backed NFTs. - Honeypots can be purchased for protection from the Queens Tax. > These Ethereum contract addresses will provide full ethereum blockchain transparency to support the points discussed in the “Asset-Backed BEES” section of this document. Ethereum contracts: > > > Asset-Backed BEES: [0x4848a07744E46bb3eA93AD4933075a4Fa47b1162](https://etherscan.io/address/0x4848a07744e46bb3ea93ad4933075a4fa47b1162) > > Queens tax: [0x1aa22D89db4C060c3A1814C940AFb6454d67c693](https://etherscan.io/address/0x1aa22D89db4C060c3A1814C940AFb6454d67c693) > # Approved Rebase Contracts Any BHNY burnt by approved contracts after May 11th 2023 will be rebased out to NFT holders equally. - SBU DAO Service Contract - Secondary Sales Contract # ****Honeypots**** Honeypots are ERC-1155 tokens on the Ethereum blockchain. - The entire initial liquidity for the BHNY Token is allocated to the Honeypot Smart Contract, owned by holders of Honeypots. - After they are minted, LP tokens are locked for 3,800 days in the Honeypot smart contract and unlock proportionally as time passes. - When redeeming a Honeypot for BHNY, the Honeypot must be burned. - Honeypots exist in generations, each generation has half the unlock power of the previous generation. - Each Honeypot will reduce the taxed amount by 5% (20 Honeypots = zero tax). - Honeypots cover all BEES in the affiliated wallet address. ![HoneyPot.png](https://s3-us-west-2.amazonaws.com/secure.notion-static.com/c8608087-a229-4b8c-af26-71cedba6b860/HoneyPot.png) As Honeypots are minted, mint proceeds are allocated in the following fashion: - 100% of sales are converted to wPE. At that point, an equal amount of BHNY is taken from Honeypot Storage, and wPE/BHNY LP tokens will be generated. Those newly created LP tokens will be sent to Honeypot Smart Contract. - 20% of the value of each Honeypot sales transaction is extracted from Honeypot Storage (in BHNY) and is allocated to the Queens in the following fashion: - 50% Allocated to Princess Queens. - 50% Allocated to Royal Queens. - 10% of the value of each Honeypot sales transaction is extracted from Honeypot Storage (also in BHNY) and is sent to which will be sent to the burn address : ([0x000000000000000000000000000000000000dEaD](https://etherscan.io/address/0x000000000000000000000000000000000000dEaD#tokentxns)) > This Ethereum contract address will provide full ethereum blockchain transparency to support the points discussed in the “Honeypots” section of this document. Ethereum contract: [0xc826EC6b6Aec86e3E1498EaB9Cb9876F40aD0745](https://etherscan.io/address/0xc826ec6b6aec86e3e1498eab9cb9876f40ad0745) > # ****Auction**** The Auction provides both utility and interesting dynamics and mechanics to the ecosystem. ![Honey Auction.png](https://s3-us-west-2.amazonaws.com/secure.notion-static.com/cb69d537-a775-4ea0-8d43-65f9d353cecc/Honey_Auction.png) The Auction will be conducted in the following fashion: - An auction will be held every day for 380 days starting in June 1st ,2022. - All bids will be placed in BHNY tokens. - When time expires on an auction, the highest bidder will win the BEE. - The proceeds of each auction will be allocated in the following fashion: - 40% of the BHNY tokens used in the winning bid will be sent to SBU DAO Treasury. - 30% of the BHNY tokens used in the winning bid will be sent to Honeypot Storage. - 20% of the BHNY tokens used in the winning bid will be rewarded to Queens!. - 50% will be allocated to Princess Queens. - 50% will be allocated to Royal Queens. - 10% of the BHNY tokens used in the winning bid sent to the burn address: ([0x000000000000000000000000000000000000dEaD](https://etherscan.io/address/0x000000000000000000000000000000000000dEaD#tokentxns)) . > This Ethereum contract address will provide full ethereum blockchain transparency to support the points discussed in the “Auction” section of this document. Ethereum contract: [0xC21b5d26FB9fd9FF60da66346790591A239775cf](https://etherscan.io/address/0xC21b5d26FB9fd9FF60da66346790591A239775cf) > # EmpowerMint Each BEE minted simultaneously Empower“Mints” an additional BEE. EmpowerMint BEES will be available to release once the collection reaches 10,000 ETH traded in total volume in OpenSea secondary market and 365 days from the initial launch of the collection (December 31, 2021) have passed. Once the empowermint BEE is available, a proof of work mechanism will be use to claim it. ![EmpowerMint.png](https://s3-us-west-2.amazonaws.com/secure.notion-static.com/0b82dcc5-ddff-4809-adae-979b2003d469/EmpowerMint.png) # SBU Labs SBU Labs serves as the day-to-day operational management of the SBU DAO. It is a Decentralized community that builds confidence in the DAO by reinforcing SBU ideals, celebrating the successes of its members, communicating the SBU message, and amplifying the impact of the DAO on the world. SBU Labs is tasked with day-to-day operations such as, but not limited to, handling social media accounts, managing its external presence, producing (and maintaining a presence at) IRL events, making its community platforms engaging, overseeing smartphone distribution, and maintaining governance of the SBU Labs. SBU Labs is self-governed except when overridden by the DAO. SBU Labs members can add or remove participants from their membership via “member curation.” Each SBU Labs member will be associated with a unique address, within which will be a unique NFT — enabling members to both vote and participate in a yielding mechanic. When a member is added, a WorkerBee NFT is minted into their address, this NFT establishes their membership in SBU Labs. Worker Bee NFTs are non-transferable - they can only be moved when after the SBU Labs' members reach a consensus. The members of SBU Labs also can come to a consensus on a proposal to decommission a specific member’s WorkerBee NFT, effectively striking that individual from their membership. Decommissioned NFTs are burnt, regardless of whether that previously removed member is reinstated; a New NFT would be minted in that case. SBU Labs will start with an initial allocation of 100,000 BHNY to be distributed to its members over a 90 day period (subject to change by decision of SBU Labs consensus). This genesis reward allocation is intended to enable its members to actively bring business to the DAO. Only SBU Labs members have the ability to claim tokens out of the reward pool. Once the initial BHNY is yielded, the continued reward for the SBU Labs will be dependent upon reactivation and funding through a formal proposal to the SBU DAO. There are eight available SBU Labs member tiers. > These Ethereum contract addresses provide full ethereum blockchain transparency to support the points discussed in the “SBU Labs” section of this document. Ethereum contract:: > > > SBU Labs Rewards: [0xfD698fe3bf310ebB32Db85a36E5746C061fB1c94](https://etherscan.io/address/0xfD698fe3bf310ebB32Db85a36E5746C061fB1c94) > > SBU Labs DAO: [0x545E145267DAd77cce0Fb100cCb7A245A964611D](https://etherscan.io/address/0x545E145267DAd77cce0Fb100cCb7A245A964611D) > > Worker BEE: [0xC82D84b493454b92FFc4744f4fec844cc1a092Ce](https://etherscan.io/address/0xC82D84b493454b92FFc4744f4fec844cc1a092Ce) > # Secondary Sales of BEES NFTs The SBU DAO will receive a 10% royalty on every secondary sale of a Social BEE NFT (not including secondary marketplace and the associated transfer gas fees). 90% of the royalty will be used to purchase BHNY tokens and send them to the burn address ([0x000000000000000000000000000000000000dEaD](https://etherscan.io/address/0x000000000000000000000000000000000000dEaD#tokentxns)). The remaining 10% of the royalties — will be sent in ETH to a multisig wallet — to empower the most economically distressed areas on earth by distributing smartphones to promote cryptocurrency education and adoption. # Secondary Sales Honeypots NFT The SBU DAO will receive a 10% royalty on every secondary sale of a Honeypot NFT (not including secondary marketplace and gas fees). - 90% of the royalty will be used to purchase BHNY tokens and send them to the burn address ([0x000000000000000000000000000000000000dEaD](https://etherscan.io/address/0x000000000000000000000000000000000000dEaD#tokentxns)). - The remaining 10% of the royalties — will be sent in ETH to a multisig wallet — to empower the most economically distressed areas on Earth by distributing smartphones to promote cryptocurrency education and adoption. # SBU Services Fees The SBU DAO Education and Community Management service fees will be set by the DAO. Services will be paid in BHNY tokens at a pre-set rate managed by a contract. This will ensure a predictable price for groups that want to leverage the potential of the SBU. Payment will be handled in an on-chain contract that will ensure transparent and up-to-date tracking of payment by participating groups. As BHNY is required to maintain the SBU Service, it will provide ongoing buy-pressure for the BHNY. Once sent to the services fee contract, that BHNY will be burned (sent to the burn address ([0x000000000000000000000000000000000000dEaD](https://etherscan.io/address/0x000000000000000000000000000000000000dEaD#tokentxns)), also reducing supply; benefiting everyone in the SBU ecosystem. # Summary The Social BEES University Decentralized Autonomous Organization is built around the ideology of maximizing the potential of Web3. This DAO is a social experiment; testing how people around the globe will utilize a trustless system to make a positive impact. The SBU DAO has embraced Web3 by: • Launching a token-holder governed DAO, SBU Labs, and NFT Auction. • Implementing thoughtful circular tokenomics into the ecosystem. • Leveraging the value-add of DeFi, including liquidity pools and token utility. • Enabling sound, transparent governance via on-chain DAO voting and proposals. • Promoting sound fiscal governance with a Treasury governed by the SBU NFT holders and BHNY token holders. SBU provides these premium services to empower Web 3 projects to become world changers. Together we have the potential to change the world. BEE-HAW 🤠 🤠

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