Have you ever wondered what you could possibly do if you didn’t have wifi or signal and you were lost somewhere in the middle of nowhere? Well there’s a solution to that! The solution is Maps.me, the world’s leading offline mapping application for travelers. Ever since its launch in 2012. Maps has achieved 140 million users worldwide and operates in almost ALL African countries across various cities on the continent. In just 2020, the app had about 60 million active users to navigate across 195 countries! In addition, the app is extremely popular among millennial Europeans. With more than 58% of the users from the continent and over 70% between ages of 18-40. Fun fact, did you know that the average millennial spent over $4,400 in 2019 on travel and related expenses?
Well enough of all that, so who exactly is backing Maps.me? Maps.me has it backing from many industry giants like Alameda Research, Genesis Capital, and GBV. The application was actually an asset of the Mail.ru group, a Russian internet giant. However it was later acquired in order to provide more integrated financial services and connect with the DeFi infrastructure.
Well now that you know a little about Maps.me 1.0, let’s talk about the ultimate travel application, Maps.me 2.0. Maps.me 2.0 hopes to accomplish becoming the ultimate travel companion and your passport to the new financial system. The platform is a technological revamp of Maps.me 1.0. With the Maps 2.0, it supports both online and offline maps. So this allows the users to explore the world through navigating to their destinations. Allowing users to book hotels, trips, or even finding local food spots! The Maps.me 2.0 application will be directly powered by the MAPS token which will also govern 100% of the platform’s net revenues.
If the transition of the Maps.me user base is successful. It will make its mark as one of the largest fintech applications in the world! Isn’t that exciting! In comparison to other fintech applications like Robinhood (13M), Revolut(12M), Transferwise(6M), and Coinbase(35M), many of these applications are shy of even 50 million users. Even DeFi, plus every centralized exchange combined has an arguably small magnitude of orders. Furthermore with Maps.me 2.0, there’s an opportunity to massively expand on the various financial opportunities for hundreds of millions of users!
You probably know what you use maps for right? It often acts as an natural entry-point for users as they explore the world. By using Maps.me, before you embark on any journey, you’ll be able to use the application to find your destination, book a hotel, or even find a local restaurant. Therefore, the application itself will serve as a guidance tool for users and help users make decisions by providing them with the best recommendations, reviews, and promotions from businesses. With the Maps.me 2.0 application, it will have a far richer set of features which will seamlessly connect local businesses and your traveling experiences. The platform will also support both offline and online maps. With support from various partners and advertisers, Maps.me 2.0 will be able to provide personalized promotions, loyalty programs, and branded content directory on the map, no doubtedly enriching your travelling experiences!
The Maps.me platform will benefit greatly from DeFi. The main reason for this is composability. New projects that are on the platform will have immediate access to a full-service financial backend that will piece together existing projects and programs. This method will create remarkable synergies within the ecosystem and truly expand the Maps functionality in creating a seamless and permissionless platform. Furthermore with the help of DeFi, the Maps.me platform can reach its potential and become the de facto platform for limitless financial opportunities for millions of people. So this combination of DeFi and the Maps.me platform will be the ultimate vision and it is what will truly capture the value of the MAP token.
Enough with the platform and all the different features it has. Let’s talk about how you can earn 100% of the net revenues as a MAPS token holder! Apart from earning 100% of the net revenues. The users will also be able to benefit from increased app benefits, better deals at venues that provide incentives and lower fees! So what exactly does holding onto the token do for you? Let’s dive deep into it…
By holding onto the MAPS token, you will become eligible for personalized rewards and services based upon your actions and your token holdings. Similar to customer loyalty programs, the benefits of the MAPS token will likely be tied with additional benefits, services, and discounts available to users with larger token holdings. Moreover, tests using this model have already taken place with the existing user base and has shown to be quite successful.
The Maps.me application is driven by the MAPS token holders. Each token will be representative of one vote and the token holders can vote on governance initiatives related to Maps.me. Anyone can propose a governance action for $1,000 of MAPS tokens. If the proposal goes through, the $1,000 of MAPS will return to the proposer. A few possible governance actions include: economics and fees, verifying user-submitted data, deciding on which assets should be available on the platform, token holders having governance of the content, etc… All of the proposals are subject to a 3 day voting period. During this time any address that has voting power can vote for or against the proposal. After a majority and at least 1bn votes are casted for the proposal, it will be implemented after 2 days.
Apart from the benefits for the users, the token also helps out businesses! With MAPS, businesses will have their locations highlighted on the map for users to find more easily, and they will also be better positioned in user searches allowing them to be more easily found! The current supply of MAPS is at 10,000,000,000. They will not create additional tokens. Over time, the total supply will decrease due to the buyback of the tokens.
The Maps.me platform already raised $50M for its seed funding round. The recognition this platform has received makes it clear, this the beginning of something transformative for our world. The support and development of the platform proves to be another monumental step of the crypto integration into our daily lives. It will not be a surprise to see DeFi services and traditional businesses working hand in hand to provide users with the best possible experience!
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