MAPS

Overview of MAPS

MAPS is a cryptocurrency and platform created by the MAPS.ME team in 2019. The project was funded through an initial exchange offering (IEO) on the BitForex and ExMarkets exchanges in April 2019, raising over $5 million. MAPS.ME was originally founded in 2014 by Yury Kardava, Konstantin Zaripov, and Alex Grebnev as an offline mapping application.

The MAPS token and platform were created to provide rewards to users for contributing data like reviews, photos, and edits in the MAPS.ME application. MAPS can be used for payments and staking on the decentralized MAPS platform. The token is available on several exchanges including Raydium, Gate.io, AscendEX (BitMax), and etc. MAPS is an ERC-20 token, so it can be stored in any Ethereum-compatible wallet like MetaMask, MyEtherWallet, or hardware wallets.

Pros and Cons

Pros :

1. Listed on Several Exchanges: MAPS Token is listed on a number of cryptocurrency exchanges, including Raydium, Gate.io, AscendEX (BitMax). This ensures its availability to a wide range of investors and traders across the globe. It also provides more liquidity to the token and enables easier buying and selling.

2. Supported by Popular Storage Wallets: Token holders can use popular storage wallets like Metamask and MyEtherWallet to store their MAPS Tokens. These trusted wallets provide secure storage and easy access to the tokens at any given time.

3. Founded by Known Personalities: MAPS Token was co-founded by Yury Kardava, Konstantin Zaripov, and Alex Grebnev, all of whom are well-known in the cryptocurrency industry. Their presence provides credibility to the token and might influence potential investors positively.

Cons :

1. Relatively New and Less Established: As it was only launched in 2019, MAPS Token is relatively new in the crypto market and less established compared to cryptocurrencies that have been around for a longer period. This comes with a set of risks as the token has not yet fully proven its market stability and reliability.

2. Price Volatility: Like most other cryptocurrencies, MAPS Token can experience significant price volatility. This means the value of the token may rise or fall drastically, potentially leading to financial losses for investors.

3. Market Acceptance and Growth Uncertain: The future growth and the wider market acceptance of MAPS Token has yet to be ascertained. The success of the token largely depends on its adoption by the broader crypto community, which is influenced by factors including, but not limited to, market trends, regulatory changes, and technological advancements.

What Makes MAPS Unique？

In terms of innovation, MAPS Token is integrated into the Maps.me app, which is a significant feature that differentiates it from many other cryptocurrencies. This approach allows users of the app to earn and use the token, offering opportunities for micro-transactions, peer-to-peer transactions, value storage and earning yields. This implementation of a token within a consumer application with millions of active users represents a step towards democratizing access to finance and a step away from traditional banking systems.

Another distinguishing feature is the backing of FTX, a major cryptocurrency exchange and blockchain ecosystem, which indicates strong industry support and access to financial markets.

How Does MAPS Work？

The working mode of MAPS Token is designed around its integration with the Maps.me app. The Maps.me app is a popular travel and navigation tool with millions of active users worldwide. The built-in MAPS wallet in the app enables users to manage their tokens directly within the app.

The key principle behind MAPS is to offer app users opportunities for creating value. The app users can earn tokens for interacting with the app and spending on services within its ecosystem.

With regards to transactions, similar to other tokens operating on the Ethereum network, MAPS uses the standard ERC-20 protocol, which sets a common set of rules for tokens issued via Ethereum smart contracts.

The innovation of MAPS also extends to offering yield to its token holders. MAPS holders can stake their tokens to earn yield, fostering a dynamic ecosystem around the Maps.me app.

While the principles guiding the functioning of MAPS Token are similar to many cryptocurrencies, its close integration with a consumer-focused app sets it apart, by aiming to make the token not only a form of wealth storage but also an everyday tool for transactions and micro-payments.

Exchanges to Buy MAPS

MAPS token is associated with Maps.me 2.0, a platform that offers both online and offline maps while integrating DeFi functionalities to its vast user base. The token is designed to provide holders with a share of the platform's net revenues.

• Raydium: A decentralized exchange built on the Solana blockchain, Raydium offers liquidity and automated market-making for the Solana ecosystem. It provides two pairs for MAPS: RAY/MAPS and USDC/MAPS.

• Gate.io: A global trading platform that offers a variety of cryptocurrencies, Gate.io lists MAPS with two trading pairs: MAPS/ETH and MAPS/USDT.

• AscendEX (BitMax): Known for its comprehensive financial product suites, AscendEX offers the MAPS/USDT trading pair for users interested in the MAPS token.

• LATOKEN: A cutting-edge exchange which focuses on liquidity for new tokens, LATOKEN provides a platform for MAPS trading with the MAPS/USDT pair.

• Jubi: A popular cryptocurrency exchange, Jubi offers the MAPS/USDT trading pair, allowing users to trade MAPS against the USDT stablecoin.

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How to Store MAPS？

Storing MAPS Token involves the use of digital wallets that support Ethereum-based tokens since MAPS is an ERC-20 token. It's crucial to select a wallet that not only provides support for MAPS but also offers a user-friendly interface and high security.

Here are some wallet types commonly used by MAPS Token holders:

1. Software Wallets: These types of wallets are applications that can be installed on devices such as a computer or a mobile phone. Software wallets are convenient for regular use and transactions.

- Example: Metamask. This wallet is a browser extension and a mobile app that supports all Ethereum-based tokens, including MAPS. It allows users to manage their tokens and conduct transactions directly from their browser or smartphone.

2. Hardware Wallets: These are physical devices that securely store users' private keys offline. They are less convenient for regular transactions but offer superior security, particularly for large amounts of cryptocurrencies.

- Example: Ledger Wallet. Ledger supports Ethereum-based tokens and allows users to securely manage their MAPS Tokens as well as other cryptocurrencies.

3. Mobile Wallets: These are specifically designed for smartphone use, providing convenient access to tokens for everyday transactions.

- Example: Trust Wallet. This wallet supports all ERC-20 tokens, including MAPS, and provides a user-friendly interface and high level of security.

4. Web Wallets: Web wallets function in browsers, and users can access them from different devices. However, they are considered less secure than hardware wallets.

- Example: MyEtherWallet. MyEtherWallet is a free open-source tool that works on the Ethereum platform; it supports all ERC-20 tokens like MAPS.

Before choosing the type of wallet, users should consider their specific needs, keeping in mind the trade-off between convenience and security. Remember, it's essential to always manage private keys effectively as losing them may result in loss of access to stored tokens.

Should You Buy MAPS？

Investing in any cryptocurrency, including MAPS, is a decision that should be based on thorough research and personal financial situation. People interested in blockchain technologies, decentralized finance, and the vision of integrating digital assets into everyday applications might consider buying MAPS.

Conclusion

The MAPS token, integral to the Maps.me 2.0 platform, represents a fusion of travel and decentralized finance on the Solana blockchain. With the backing of significant entities like the Mail.ru group and endorsements from giants such as Alibaba and Tencent, its potential reach is vast, given the platform's expansive user base.

Available on multiple exchanges, it offers both seasoned and novice traders ample opportunities for investment. As Maps.me continues to integrate DeFi functionalities and offer revenue-sharing with its token holders, the MAPS token stands as a testament to the innovative convergence of travel and blockchain technology.

FAQs

Q: What is the locked token supply？

A: 90% of all tokens are locked for up to 7 years, with 10% unlocked, further restricted to 75M in the first year.

Q: Where are the contract addresses for MAPS？

A: MAPS is an SPL token with an ERC-20 wrapper, with addresses available for both SPL and ERC20.

Q: What network is the token on？

A: MAPS is a native SPL token but also has an ERC-20 wrapper, existing on its mainnet.

Q: What are Maps.me 2.0s revenue streams？

A: Maps.me 2.0 has revenue from user fees for transactions and bookings and from businesses on the platform.

Q: What impacts the value of the MAPS token？

A: The value of the MAPS token is affected by market dynamics, user adoption rate, technological advancements, and overall trends in the cryptocurrency space.

Q: Does the MAPS token promise future profit increase？

A: The potential for future profit increase with the MAPS token, like all cryptocurrencies, is speculative and depends on various market factors.

Q: What is the principal working idea of the MAPS token？

A: The key working idea behind MAPS token is its tight integration within the Maps.me app, providing opportunities for app users to earn, store, and transact with the tokens.

Q: What is the main risk to consider before investing in MAPS token？

A: The main risk to consider before investing in MAPS, or any other cryptocurrency, is the inherent market volatility and unpredictability of cryptocurrency prices.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.