TowerBee (TBE) and TowerX ICO details
Tags: Cryptocurrency, ICO, Ethereum, Blockchain, Bitcoin

ICO will begin on or before August 26, 2018

The most awaited article is finally here. This article contain details about the ICO of Towerbee on our own exchange TowerX.

To know the benefits of holding TBE, please see this article

When ICO?

The ICO will begin on or before August 26, 2018. The exact starting date will be announced in our official Telegram group and in our social profiles (Twitter, Facebook). The ICO will be active for 30 days from the start date.

Where is the ICO?

The TowerBee ICO will be on our cryptocurrency exchange TowerX (website link will be made available when ICO begins). At the time of launch, the TowerX will have 25 trading pairs. All the listed tokens are in Top 100 on coinmarketcap website.

At the beginning TowerX will have ERC20 tokens only which will be expanded to included other types of coins also in future.

How to participate?

The ICO will be done in a way to avoid gas war and to give everyone equal chance to participate. TBE being an exchange based token is extremely popular in the crypto community. The exchange based tokens have the highest ROI among all types of tokens available in the market. This is also evident from the fact that our AIRDDRP ends in less than 20 minutes regularly. We had 18 successful AIRDROPs so far with total 2.09 Million TBE being airdropped.

Timeline of the AIRDROPs of TowerBee

🏅Airdrop 1: Ended in less than 3 hours.

🏅Airdrop 2: Ended in 1 hour 55 minutes.

🏅Airdrop 3: Ended in 54 minutes.

🏅Airdrop 4: Ended in 31 minutes.

🏅Airdrop 5: Ended in 19 minutes.

🏅Airdrop 6: Ended in 13 minutes.

🏅Airdrop 7: Ended in 3 days 9 hours 40 minutes. ( due to heavy network congestion)

🏅Airdrop 8: Ended in 1 hour 52 minutes. (ETH network congestion)

🏅Airdrop 9: Ended in 40 minutes.

🏅Airdrop 10: Ended in 9 hours 50 minutes. (ETH network congestion)

🏅Airdrop 11: Ended in 17 minutes.

🏅Airdrop 12: Ended in 12 minutes.

🏅Airdrop 13: Ended in 8 minutes.

🏅Airdrop 14: Ended in 4 minutes.

🏅Airdrop 15: Ended in 10 minutes.

🏅Airdrop 16: Ended in 4 minutes.

🏅Airdrop 17: Ended in 8 hours 38 minutes. (ETH Network Congestion)

🏅Airdrop 18: Ended in 52 minutes. (High GWEI)

AIRDROP contract address on Etherscan website: 0x4f45901e24ab443529dc52aff4452b081f9564fa

Learning from the history of TowerBee (TBE) AIRDROPs, the ICO will be done in such a way that everyone gets an equal chance to participate and there is no gas war.

The process to participate in ICO is given below

Step 1: You need to create an account at TowerX. It’s a simple 15 second process. Only email id is needed to sign up.

Step 2: Deposit ETH to your account at TowerX.

Step 3: Place order to buy TBE. The rate has been fixed at 1 ETH = 8,000 TBE.

Please note there there will be no trading fees for participating in ICO. The regular trading fee for TowerX is 0.10% which gets reduced by 50% to 0.05% if you hold sufficient amount of TBE in your account.

When we fixed the rate of 1 ETH = 8000 TBE few months ago, the price of ETH was around $850 but now price of ETH is much lower than that. But, we have kept the same exchange rate of 1 ETH = 8000 TBE for ICO to give benefit to the community. We know that we will get lesser equivalent in dollar value and we are NOT going to adjust our exchange rate just to increase the dollar value.

No minimum contribution amount

There is no minimum contribution amount. You can use any fraction of ETH to participate in ICO. We did not find any useful reason to impose the restriction of minimum contribution amount.

How the ICO tokens will be allotted?

The option to place buy orders for TBE will be available for 30 days. At the end of 30 days, the trading system will be activated and the TBE will be allocated to you. This process is to avoid gas war and give everyone equal chance to participate in the ICO before the price of TBE rises when it starts trading on TowerX.

So, it means that you will not receive the TBE tokens immediately after you place the buy order. You will have to wait for the ICO period of 30 days to end before your order is executed. The two possible cases are given below:

Case 1: If total quantity of buy orders is equal or less than the quantity of available TBE i.e Hard Cap not reached.

In this case, everyone will be allotted the TBE and unsold quantity of TBE will be burnt.

Case 2: If total quantity of buy orders is more than the quantity of available TBE, i.e. Hard Cap exceeded.

In this case, the buy orders placed for the first 30% quantity of TBE will be executed first and allocated TBE. The remaining users will be allotted TBE on a random basis by a lottery system.

In other words, buy orders for the first 76.80 Million TBE will be executed first and allocated the TBE. The quantity of 76.80 Million is 30% of the total amount of 256 Million TBE available in ICO.

For those who will not be allotted TBE, they have the option to either use their ETH for trading on TowerX or they can withdraw it to external wallet of their choice. The withdrawal fee of 0.01 ETH will be applicable.

If you want to be 100% sure to get TBE tokens, try to be in the first 30% to place buy orders.

Who can participate?

Everyone except residents and citizens of United States are eligible to participate. We love the U.S. community but the rules by SEC is not yet clear enough and we could not find a secure way of accommodating you. We are really sorry for this.

What are the KYC requirements for ICO?

Every country has a different threshold for KYC. You will be able to view in your account whether any documents are required by you for KYC. In case, nothing appears, it means, you are good to participate. Normally, KYC is not required for contribution up to 20 ETH.

In case, you fail the KYC process (if applicable), your ETH will remain safe and you have the option to either use it for trading on TowerX or to withdraw it to an external wallet of your choice. Withdrawal fee of 0.01 ETH will be applicable.

What are the KYC requirements for TowerX exchange?

With just a verified email id, the daily withdrawal limit is 50 ETH or equivalent. In case, you want to withdraw more than 50 ETH daily, you will be required to submit additional documents for KYC.

There are no deposit limits.

2.5 Million TBE AIRDROP

All users registered on TowerX exchange will receive a share in the 2.5 Million TBE Airdrop which will happen after ICO is over. The TBE will be distributed uniformly to all uers registered on TowerX. The formula to be used to calculate the amount of TBE allocation is given below:

Amount of TBE that every user will get = 2.5 Million / Total number of users registered on TowerX.

TBE token details

Token Name: TowerBee

Symbol: TBE

Type: ERC20

Token Address: 0xf18b97b312ef48c5d2b5c21c739d499b7c65cf96

Decimals: 18

Total Supply: 500 Million (100%)

Retained by company: 180 Million (36%)

Available in ICO: 256 Million (51.2%)

Already sold in Pre-ICO / Private sale: 24 Million (4.8%)

Airdrop allocation: 5 Million (1%)

Bounty and marketing activities: 25 Million (5%)

Team Members : 5 Million (1%)

Advisors : 5 Million (1%)

Applications are now accepted for listing tokens on TowerX

If you want to list your token on our crypto currency exchange TowerX, you need to fill this form.

At present only ERC20 tokens are being accepted. The selection of tokens for listing will be by community voting process. The first community voting will begin in the month of September 2018.

Summary

ICO starts: On or before August 26, 2018. Exact starting date of ICO will be announced in our official Telegram group , Twitter and Facebook. Price of TBE: 1 ETH = 8000 TBE (approx $0.06 per TBE). ICO will be on our cryptocurrency exchange TowerX. ICO duration is 30 days from start date. TowerX will have 25 trading pairs at launch. Benefits of buying & holding TBE, read here. U.S. residents and citizens are not allowed to participate. KYC needed for contribution of more than 20 ETH. Currencies accepted: ETH Applications are now accepted for listing new tokens on TowerX.

Join our Telegram group for instant updates

Telegram: https://t.me/towerbee