Hivemapper (HONEY) is a decentralized global mapping network that leverages blockchain technology to create a detailed, dynamic, and accessible map of the world. It rewards contributors with HONEY tokens for collecting high-quality imagery and data using devices like 4k dashcams and smartphones. The network aims to provide an open, transparent, and inclusive mapping platform, ensuring the privacy and security of data and promoting community participation.
Hivemapper (HONEY) is a blockchain-powered mapping network that rewards users with HONEY tokens for contributing to the creation and maintenance of detailed, dynamic, and accessible maps of the world. Here are the key ways HONEY is used:
Rewards for Contributions: Users who contribute to the map by providing high-quality data, such as 4K street-level images, are rewarded with HONEY tokens. This incentivizes continuous updates and maintenance of the map data.
Governance: HONEY token holders can participate in the decision-making process regarding the development and governance of the Hivemapper Network, including voting on proposals related to software updates, policy changes, and resource allocation.
Transactions: The token is used for transactions within the platform, such as purchasing map data, accessing advanced mapping features, and other services offered by Hivemapper.
Compensation for Dashcam Owners: HONEY tokens are used to compensate the owners of dashcams that are used for mapping, making it easier to reward contributors for their efforts.
Map Data Purchases: Developers can purchase map data produced by Hivemapper using HONEY tokens, similar to how developers use Google Maps data. The value of HONEY is tied to the utility of the map itself, and as more developers use Hivemapper, the value of HONEY is expected to increase.
Burn and Mint System: Hivemapper has a burn and mint system with a net emissions model, which affects the token's value over time.
Overall, HONEY tokens are the backbone of the Hivemapper ecosystem, facilitating rewards, governance, and transactions within the platform.
To store Hivemapper (HONEY) tokens, you have several options based on your needs and preferences:
Store on an Exchange:
- Hold your HONEY tokens on a centralized exchange (CEX) like KuCoin. This provides easy access to various investment products and features, such as spot and futures trading, staking, and lending. Ensure the exchange has robust security measures to protect your assets.
Non-Custodial Wallets:
- Withdraw your HONEY tokens to a non-custodial wallet, which grants you full control over your private keys. This includes hardware wallets, Web3 wallets, or paper wallets. Be cautious not to lose your private keys, as this could result in permanent loss of your tokens.
Crypto Wallets:
- Use a crypto wallet that supports HONEY tokens. You can buy HONEY directly through the wallet if it allows fiat-to-crypto purchases. If not, you can buy a popular cryptocurrency like USDT and then exchange it for HONEY. Make sure to check fees and ensure the wallet is reputable.
- Ledger Wallet:
- You can also store HONEY tokens on a Ledger wallet. Since HONEY is an SPL Solana token, you need to use Solflare's interface connected to your Ledger device to manage your tokens securely.
Each method has its pros and cons, so choose the one that best fits your needs and security concerns.
To buy Hivemapper (HONEY) tokens, you can follow these steps:
Create a Coinbase Account: Download the Coinbase app and sign up with a valid ID. You may need to provide proof of address for verification, which can take some time depending on your location.
Add a Payment Method: Connect a payment method such as a bank account, debit card, or initiate a wire transfer.
Start a Trade: On Coinbase.com, select "Buy & Sell" or on the Coinbase mobile app, tap the "+" button to buy on the Home tab.
Select Hivemapper: Search for Hivemapper in the list of assets and select it.
Enter the Amount: Use the number pad to input the amount you want to spend in your local currency. The app will automatically convert it to HONEY tokens.
Finalize the Purchase: Tap "Preview buy" and confirm the details. Once everything looks good, click "Buy now" to complete the purchase.
Alternatively, you can also use a decentralized exchange (DEX) like Jupiter or Raydium. For this, you need to:
Buy Solana (SOL): Purchase SOL from a centralized exchange like Binance.
Set Up a Wallet: Download a wallet like Trust Wallet or Phantom Wallet and set it up.
Send SOL to Your Wallet: Transfer the SOL from the exchange to your wallet.
Connect to a DEX: Connect your wallet to a DEX like Jupiter or Raydium.
Swap SOL for HONEY: Use the DEX to swap your SOL for HONEY tokens.
Remember to always follow security guidelines and be cautious of scams when using decentralized exchanges.
