What is Maps.me (MAPS)?
MAPS is the native token of Maps.me, which is an application that allows users to access maps and DeFi functionalities. Maps.me works similarly to Google Maps, except for the fact that it does not require an internet connection to work.
New financial products and services were introduced to the platform with the Maps.me 2.0 upgrade. Now, the platform allows users to also store assets, exchange currencies, send money, and receive payments digitally. In other words, this upgrade enhanced the platform with DeFi integration.
Use Cases of MAPS Tokens
MAPS tokens have a variety of use cases. The following are the main ones:
- Reward token. MAPS tokens are awarded for frequent use of the application and for promoting listed locations.
- Governance. MAPS token holders get governance rights. This means that they can influence the development of the application, especially when it comes to upgrades, reward changes, and adding or revising products and services.
- Benefits for business owners. Business owners who hold MAPS tokens receive benefits as well. One such benefit is better visibility on the application's maps. Besides, they can even become categorized as "premium listings," giving them a competitive edge in search engine results.
- Means of payment. MAPS tokens can be used to make various payments within the platform.
Care to buy MAPS tokens? Before doing that, analyze the Maps price chart provided above. It features the current and the previous MAPS price.
Who Founded Maps.me?
Maps.me 2.0 belongs to the Mail.ru group, which is a popular application within the Russian internet business sector. A number of prominent companies support the company, including Alibaba, Naspers, and Tencent.
Additionally, the company has partnered with Sam Bankman-Fried who's known for working at Alameda Research, FTX Exchange, and Oxygen Protocol.
Toknomics of MAPS
The maximum supply of MAPS tokens is 10 billion. The platform uses a deflationary token model in order to sustain the MAPS price. The mechanism is called buyback-and-burn. Tokens can be purchased by anyone except those living in the United States, China, or other restricted countries.
MAPS Token Distribution:
- MAPS community fund: 20%
- Project builders: 15%
- Technology & product: 10%
- Liquidity & token growth: 5%
- Ecosystem partners: 10%
- Private sale: 5%
- Public Sale and initial liquidity: 5%
- Serum community fund: 20%
- Ecosystem growth & marketing: 10%