Maps.me integrates DeFi applications: MAPS token sale launches
Maps.me is the next provider waiting in the wings to bring the crypto economy to the app store. The MAPS token sale launches on Monday.
The flight of fancy of Polkadot (DOT), Uniswap (UNI) or Chainlink (LINK) shows: Decentralised financial applications are gradually reaching the mainstream. While the DeFi market was initially still a niche for risk-loving investors, more and more real economy Bitcoin Millionaire applications are evidence of a rapid adaptation process. With Maps.me, another „established player“ is setting foot in the world of decentralised finance.
Maps.me is a navigation app that can also be used offline. According to the Google App Store, more than 140 million users can download the corresponding maps before starting their journey without having to use up their data volume afterwards.
With the MAPS token, the app’s functions are now to be fundamentally expanded and a bridge built between cross-border travel and payment transactions. By integrating DeFi applications, Maps.me merges into a navigation, payment and investment app.
According to the white paper, a wallet will be integrated into the Maps.me 2.0 version, with which users can, for example, process booking transactions directly without switching apps. Users will be able to create accounts with several currencies and benefit from low fees for cross-border transfers.
In addition, users will have the option of investing their funds in DeFi applications.
We intend to give our users the opportunity to generate returns on their savings by lending them directly and securely to borrowers. We also plan to allow our users to trade a variety of assets that are not restricted by geographical boundaries and transaction sizes.
Token holders will receive voting rights per token in the future and will be able to benefit from Maps.me’s revenues. According to Maps.me, all revenues minus costs will benefit the holders „through mechanisms voted on by the token holders“. These revenues consist of transaction fees on the platform and costs for advertising partners, among other things.
In addition, the app will rely on a loyalty bonus programme in the future. Token holders are thus „entitled to personalised rewards and services based on actions and token holdings“. The more tokens one holds, the more generous the rewards will be. The DeFi infrastructure is built on Serum’s Solana blockchain.
The supply is limited to 10 billion MAPS tokens. Of these, 10 per cent are initially unlocked. The remaining 9 billion tokens will flow into the Supply over a period of seven years. The Initial Exchange Offering will initially cover 100 million tokens and will start tomorrow, Monday 1 February 2021, on FTX, Serum and Bitmax.