ICO terminated


What kind of ICO was it?

The token sale has no time limit. This means it will never end, although the number of tokens is restricted to 1048576. The buy and sell price of the tokens is increased in correlation to the tokens left. You will not buy any token for a project or idea, but you will buy the token itself. You can sell the tokens back, hopefully at a higher price than you bought or transfer it to another account. That's it.



You simply need an Ethereum account. You can buy token by sending Ethereum to the contract address 0xe4732499b9c18d2828ced5470e75d70a3b2b2792 and you can sell them by sending token to the contract. The trade is done at the actual price determined by the contract. After you bought token you will see that the buy price has increased and vice versa if you sell them.

How token sale worked


Why to buy token?

There are several reasons why to buy this token. Firstly and most important you want to sell it at a better price than you bought it. So that's an easy way to profit from a leverage effect on your Ethereum investment. Secondly if you like gambling and see it as a game you can play it (ok that's more or less investment too). Thirdly you have a much better chance to get profit out of Honeycombs than in casino or a lottery.

You can simple trade the token with your wallet only. So you don't need a registration process or exchange but can start as soon as you have some Ethereum. No minimal amount for investement.




Token Trade Stopped

White Paper



Figures

Contract:

0xe4732499b9c18d2828ced5470e75d70a3b2b2792

Name:

Honeycomb

Symbol:

COMB

Decimals:

18

Buy price:

2156.371184659629 COMB/ETH

0.000463742052905351 ETH/COMB

Sell price:

3049.569369738911500000 COMB/ETH

0.000327915150880996 COMB/ETH

Token left:

1030983.02585905 COMB

Minimal payout:

0.001000 ETH



Token Contract

The contract follows simple rules. The buy price of a token starts with an initial buy price of 3.14159265 token per Finney (0.001 ETH). The sell price is the buy price divided by 1.41421356.
The price is calculated by the following formula depending on the number of token left:

You can only buy or sell a maximum amount of token so that the price is not changed more than a factor of square root of 2. You can see the price chart in the following diagram with steps of sqrt(2) increased.





How to see token


Best practice is to first watch the Honeycomb token. In Ethereum wallet you can do this by opening the 'Contract Tab' and pressing 'Watch Token'. Copy the contract address 0xe4732499b9c18d2828ced5470e75d70a3b2b2792 and the content of the other fields. If everything is correct press ok. Please verify that the token symbol looks the same as in the picture.







How to buy token


You can buy Honeycombs by sending Ethereum to the contract address.

If you watch the token and you own some you will see the Honeycomb icon added to your wallet. The token are now displayed in your wallet.



How to sell token


Once you own Honeycombs you will have the choice of sending funds in Ethereum or Honeycombs. Sending Ethereum to the contract address means to buy more token. Sending token to the contract address means to sell them back to the contract at sell price. The token transfer to the contract is a special implementation of Honeycomb token for your convenience, so you don't need to use contract functions or 3rd party exchanges.


Attention!
Never ever do this on other contracts than on Honeycomb. Standard implementation of contracts is a simple token transfer. Sending token to such contracts will result in loosing them!



Beware
When using contract functions amounts are entered in wei. To avoid mistakes and loosing gas we have introduced the minimalPayout restriction.

How to watch the contract


This is not recommended for unexperienced users, but you can watch the contract and use its functions. For example in Ethereum wallet you enter the contract address under "watch contract", give the contract a name (Honeycomb) and copy the json interface (abi) from etherscan.io to your wallet.

The latest version on etherscan.io even offers beta functionality to direct write to contracts.




Caveats

For security reasons there are two caveats.

First you are allowed to buy or sell a maximum amount of honecombs at a single transaction. The amount is determined by calculating the new price after the transaction and the new amount is not allowed to change more than by a factor of square root of 2.

In practice this means in the beginning the limit lies around 10 ETH, growing up to 1000 ETH and coming down finally to a limit of approx. 97 ETH maximum amount per transaction.

Second there is a minimal payout when selling token. Especially when you use the contract functions of the json interface the amounts are entered in wei. In case of missing the 18 decimals you could end up paying gas fee for nothing noticeable. The minimal payout can be changed anytime in case fees change dramatically.