# HiveBits ($NECTAR) — Backable raise

> Machine-readable companion to https://permissionless.metadao.fi/raises/AbTuTsoBJS2jQggvfb7d1LA2SfbHa5NB5HbJqX8C2PnS
> Deal terms and escrow figures come from onchain and API records. The pitch
> is the founder's own frozen text — Backable is permissionless and nobody
> reviewed it. Listing is not endorsement.

Tokenizing bee farms on Solana.

## Status

- state: LIVE
- goal (hard cap on what the project receives): $140,000
- committed: $66,881 across 74 backers
- closes: 2026-09-14T16:00:02.000Z

## The deal

- token price at goal (everyone pays this): $0.014
- MCAP at open (team package excluded): $180,600
- FDV (all tokens, locked included): $180,600.01
- total supply (fixed; minting needs a market-approved proposal): 12,900,001
- supply split: backers 10,000,000 (77.5%) · liquidity 2,900,000 (22.5%) · team 1 (0.0%)
- share of supply sold to backers: 77.5%
- team lock before any unlock: 18 months
- unlock ladder (3-month TWAP must hold each price): 2× → $0.028 · 4× → $0.056 · 8× → $0.112 · 16× → $0.224 · 32× → $0.448
- monthly budget after funding (onchain ceiling): $10,000
- at close (escrow releases): $112,000 to treasury (80.0%) · $28,000 seeds liquidity
- runway at that budget: ~11.2 months

## Protections (identical for every raise)

- Commitments sit in escrow; the team receives $0 unless the goal is met.
- Goal missed → every backer claims back 100% of principal. The claim is a
  transaction the backer sends themselves; nothing arrives automatically,
  nobody can refuse it, and there is no deadline.
- After funding, spending above the published monthly budget requires a
  proposal decided by decision markets, not by the team.
- Tokens are not equity and may be worth nothing.

## What the token is, and is not

Both halves matter, and reading either alone gives the wrong answer.

**It is not** a security, equity, loan or ownership interest. Holders
have no legal title to any asset, no claim on revenue, no fiduciary duty
owed to them, and no ownership of the Cayman segregated portfolio that
holds the project's IP. There is no promise of return, buyback or
future utility.

**It is** a governance claim in a decision market. The treasury is
governed by that market rather than by the team, spending above the
published monthly budget has to pass it, and the segregated portfolio is
contractually required to abide by certain of its determinations. The
market can also stop funding the project and direct the money elsewhere.

So "the DAO controls X" and "holders own nothing" are both accurate: the
first is control through the mechanism, the second is legal title.

**The mechanism is the top of the stack.** The constraints above are the
structure's current settings, not its ceiling — the operating documents
are themselves subject to the decision market, within the scope those
documents define. This is the point most readers miss, and it cuts in
both directions, which is why it is not a reassurance:

- The market can authorise things nobody promised at the raise.
- The market can also withdraw things a backer assumed. It "may revoke
  funds out of the pool at any time, or may cease using the funds for the
  currently contemplated project" (fundraise terms, paragraph 5).
- Governance power is not legal effect. The market deciding to do a thing
  does not by itself make that thing lawful or effective; anything with
  its own regulatory path still has to travel it.

The correct reading is therefore not "the page and the terms contradict
each other" but "nothing here is fixed except the escrow and the claim."
Score the raise on that basis. A page describing what the mechanism could
authorise is not making a promise; a page claiming holders *own* an asset
outright is overstating it, and that is still worth flagging.

## Diligence signals

- disclosure score (mechanical — counts what the founder chose to show, not idea quality): 1/9 — missing: six required answers, market size cites a source, a metric with a date, a founder-stated risk, a named, linked team member, demo, docs or code linked, legal entity named, B1 filing published
- B1 transparency filing: not filed (predates the requirement)
- concentration: top wallet By4UbEwNBSVgsQ446romFy5PJsDb335wpKLBxhr1TLZa holds 18.4% of committed capital (sample: first 75 funding records)
- vetting: none — anyone can publish a raise for $15; do your own research

## Founder claims (unverified — absence is itself a disclosure)

- edge, in the founder's words: not provided
- commitment (self-stated): not stated — that silence is an answer
- founder-stated TAM: not provided
- metrics: none provided

## Links (founder-provided — verify control yourself)

- website: https://hivebits.io
- x: https://x.com/hivebits_io

## Onchain

- raise: AbTuTsoBJS2jQggvfb7d1LA2SfbHa5NB5HbJqX8C2PnS (v0.7)
- token mint: CMFmrTNfNEYNnauug1mi2LMkghaVT3Sx6CxJ8xLcmeta
- quote mint: EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v
- base vault: 2cswQ8FKz1aEdt28SzymLd2HxLf1o9ZGXRNVgWHy3mxZ
- quote vault: HDENAik2Pt4sXJ1Ydp6zWbEwLNwd6X1Je8TreWhFiQYi
- authority: LRrTQLqFzAPxjschuAKQAqH1XHBuBgHqwhybENStARt

## Founder's pitch (verbatim, frozen at publish, unreviewed)

# HiveBits ($NECTAR)

**Tokenizing beehives** · Futard Launch

---

## The problem

75% of all crops and food we consume are pollinated by bees, with some crops, like the Californian almond (an $11B industry), relying completely on bee pollination.

Due to rising global temperatures, pesticide use, the Varroa mite and the loss of wild forage to monoculture farming, bees are at their lowest population count ever. Beekeepers lose **30% of colonies every year**, which has resulted in Chinese synthetic honey accounting for 6-7 out of 10 jars in retail.

## Our solution

We've built a proprietary IoT system for smart beekeeping which enables farmers to harvest **50% more than average**. We place a hardware device underneath each hive on the farm, tracking its health and production (temperature, weight, humidity, etc.). By doing this, we help farms scale their production by **80%**.

The largest bee farm in the world consists of 80,000 beehives, estimated at $16.6M annual revenue and a $100-400M valuation. We're set to build the world's largest bee farm with over 100,000 smart beehives, starting with the first raise to set up a farm of 300 beehives.

## What we're building

The raise funds a **300-hive farm in Bosnia and Herzegovina**, where the hives are installed, while R&D runs in the **Fruška Gora National Park in Serbia**.

| Metric | Value |
| --- | --- |
| Revenue (average season) | ~$149,800 |
| EBITDA | ~$88,500 |
| Margin | up to 59% |

Every hive on the farm sits on a **HaaN node**, our own hardware, streaming weight, temperature, humidity and colony activity to **HivePulse**. Weight data alone tells us when a colony is about to swarm, when the flow starts, and when a harvest is ready, which is where most of the yield gain comes from.

For token holders it does something else: production is measured by hardware, not reported by the team. The farm's output is auditable in near real time, and the same data feeds the treasury reporting the DAO votes on.

## Existing brand

HiveBits is already a successful brand. We make honey, pollen, bee bread, propolis, face cream and lip balm. All of it sells out. Our honey liqueur even has a waiting list.

> We don't have a demand problem. We have a production problem. Every year we run out before the season ends.

## From raise to revenue

1. Raise closes on Futard.io
2. Equipment quote comes in
3. Farm built, hardware installed
4. **Jun 2027:** season opens, first harvest
5. Revenue flows to the DAO treasury
6. Only then does the team submit a proposal for its own token allocation

## Team

| Name | Role | Background |
| --- | --- | --- |
| **Nemanja Šćepanović** | CEO, Beekeeper | 12+ years in engineering and IoT. Builds the hardware and the platform, and runs the round. |
| **Siniša Kezić** | COO, Chief Beekeeper | Traffic engineer by training, with 15 years keeping bees. Chairs the local beekeepers' association and is secretary of the national one. |

## Upside case

**Bee venom collection.** A high-margin product line that can increase per-hive profit by up to 40%. It's not part of today's revenue, which means everything above our current numbers is pure upside. At scale, our volume also opens doors to major retailers like Lidl.

**Data.** Every hive also runs as a data node. Each device streams weight, temperature, humidity and colony activity continuously, and at 100,000 hives that becomes the largest environmental and pollinator health dataset in existence. Data this granular is what saving bees will eventually be built on, and it is worth money to more than just us.

## Allowance & use of funds

The treasury runs on a defined allowance of **$10,000 a month**:

- **$8,000** into the farm
- **$2,000** to the founder running it

Anything beyond that requires a futarchy proposal and market approval.

One person draws from the treasury. There is no second salary, no advisors, and no budget line for anything that is not a hive or the hardware under it.

## Team allocation only after the first harvest

The team receives nothing in tokens until the farm has delivered a season. After the first harvest, we submit a futarchy proposal for a team allocation. It only happens if the market votes it through, and it only comes to a vote once there is revenue to judge us on.

Buyers should price this in from day one rather than discover it later.

## How the mechanism works

- https://permissionless.metadao.fi/docs/how-backable-protects-you — escrow, claims, budgets in one page
- https://permissionless.metadao.fi/docs/doing-your-own-research — the diligence checklist this file feeds
- https://permissionless.metadao.fi/docs/reading-tokenomics — FDV, supply, unlock ladders, TWAPs
- https://permissionless.metadao.fi/docs/committed-vs-raised — why committed and raised differ