What is Honey?
Honey is the native cryptocurrency of the Hivemapper Network that incentivizes map data collection and rewards its participants for their contributions. It is built on the Solana blockchain, ensuring fast transaction processing and efficient network operations. Honey serves as the medium of exchange within the decentralized mapping ecosystem, enabling access to various mapping services and fostering community engagement.
Honey goals
Honey is designed to overcome the challenges of continuously updating global maps by leveraging community participation. It incentivizes everyday users to collect and submit valuable street-level imagery, reducing the need for expensive centralized mapping solutions. Additionally, Honey functions as a utility token that allows consumers to access and prioritize map data, thereby creating a dynamic and self-sustaining ecosystem.
Honey fondamentals
Honey has a fixed total supply of 245272239 HONEY tokens, ensuring controlled scarcity and long-term value preservation. Its tokenomics feature a structured distribution plan that allocates a significant portion of tokens to contributors, while also supporting investors, employees, and foundational activities. The project employs a burn and mint mechanism where tokens are burned upon usage for services and a portion of these burned tokens is reissued as rewards, with the overall market capitalization reflected at $245187781.
Marketcap
$0.24518778B
Total number of Honey
245272239 HONEY
Honey technology
Honey operates on the Solana blockchain, which is chosen for its high throughput and low transaction fees. The project utilizes a burn and mint mechanism to dynamically manage token supply in response to network usage. This technology underpins a decentralized marketplace where contributors and consumers interact efficiently, ensuring that economic incentives are well-aligned with the needs of the mapping network.
Honey competitors
Honey differentiates itself by integrating token incentives directly into the global mapping process, encouraging community-driven data collection. Its decentralized model rewards contributors in real time, offering a continuous and updated mapping service that contrasts with traditional, static mapping systems. This proactive incentive structure and community focus provide Honey with a competitive edge in accuracy and operational efficiency over conventional mapping platforms.
Honey price history
Frequently asked questions
Honey is built on the Solana blockchain. This blockchain offers high throughput and low transaction fees, which are crucial for handling the network’s operational demands. Its performance capabilities ensure that the mapping platform can process a large volume of transactions efficiently.
Within the Hivemapper Network, Honey serves a dual purpose as both a reward for contributors and a utility token for accessing services. It incentivizes users to collect high-quality street-level imagery and submit it to the network. This approach creates a self-sustaining ecosystem where data collection and usage mutually reinforce the platform’s growth.
Honey has a fixed total supply of 245272239 HONEY tokens, ensuring that the token remains scarce and valuable over time. This fixed supply supports a predictable monetary policy. It also helps to maintain long-term value by preventing inflationary pressures within the ecosystem.
Yes, Honey features a burn and mint mechanism as an integral part of its tokenomics. Tokens are burned when users access mapping services, which helps manage the circulating supply. A portion of the burned tokens is reissued as rewards to contributors, ensuring that the economic model remains balanced and sustainable.
Honey offers a decentralized and community-driven approach to mapping, which significantly reduces the high operational costs associated with traditional systems. This model allows for real-time updates and continuous improvement of the mapping data. The integrated incentive system fosters greater participation and accuracy, making it a compelling alternative to centralized mapping solutions.
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