As a solution to CeFi problems like FTX, the Social Bees University Decentralized Autonomous Organization (“SBU DAO”) has activated the world’s first self-generating billion-dollar fund after almost 3 years of intense development. With this sizable fund, SBU will financially help Web3 visionaries who are aligned with the SBU mission.
The SBU is a collection of 13,838 unique, programmatically generated Non-Fungible Tokens (“NFTs”). The collection of SBU NFTs, which are referred to as the “Bees”, are deployed to the Ethereum Blockchain that governs the SBU DAO and the SBU DAO treasury.
The Bees collection consists of 11,038 Worker Bees, 1920 Apex Bees, 660 Princess Queen Bees, and 220 Royal Queen Bees. The SBU also has its own token called Bee Honey (“BHNY”) that is central to the inner workings of the SBU and SBU DAO.
The Bees NFTs launched at .083 ETH under $200 for 2 Bees for every purchase. At the time of this writing Open Sea is reporting the floor price is .9 ETH or almost $1100 for the same two for one pricing strategy. The $BHNY token is trading at 1.09.
The Hive or group has most recently run some engagement games and strategies that have sparked the run on the price of the bees. The T-Ray Show broadcasts on YouTube and Facebook nearly seven nights a week covering everything from wallet security to DAO formation and running the community engagement like poker nights, Discord incentives and meme contests. SocialBees.io is ready to celebrate their 1-year anniversary, December 31st.
Because of the structure of the SBU, the SBU DAO, the Bees NFTs, and the BHNY token, we believe that people all over the world will benefit from the SBU and will want to join us in our mission to change the world.
DeFi versus CeFi
Decentralized finance, or “DeFi”, refers to a movement in the cryptocurrency space that aims to use blockchain technology to create financial services that are open, transparent, and accessible to everyone.
DeFi services are typically built on top of decentralized, open-source protocols, which means that they can be used by anyone without the need for intermediaries such as banks or other financial institutions. DeFi services can include things like lending and borrowing platforms, decentralized exchanges, and stablecoins.
FTX was a centralized cryptocurrency exchange or Cefi that was founded in 2019 by CEO Sam Bankman-Fried. The exchange is known for its focus on providing liquidity for professional traders and its use of innovative financial products, such as futures contracts and leveraged tokens.
FTX was also known for its strong infrastructure, which has been able to handle high trading volumes without experiencing significant downtime. But SBF was the main person in charge and responsible for the strategic moves of FTX which he is on trial for now.
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