MAPS

What is Maps?

Despite Decentralized Finance’s (DeFi) recent impressive growth, it has yet to attract significant inflows from the broader world. Maps, with its massive user base surpassing even the entirety of DeFi, is poised to change that. As the world's leading offline mapping application, Maps is trusted by 140 million users, providing turn-by-turn routing, travel guides, and detailed mapping across 195 countries.

Maps 1.0

Initially, Maps was acquired with the goal of integrating financial services. With 58% of its users from Europe and over 70% aged between 18-40, Maps is positioned to monetize its platform through a native financial suite, backed by Solana and Serum.

If successful, Maps could become one of the largest fintech applications globally, surpassing the user bases of platforms like Robinhood, Coinbase, Revolut, and Transferwise. Maps 2.0 presents an opportunity to expand financial opportunities to hundreds of millions of users.

Maps 2.0

Maps 2.0 aims to be the ultimate travel companion and passport to the new financial system. Governed by the MAPS token, which distributes 100% of the platform's net revenues to token holders, the application plans to offer personalized promotions, rewards, and a loyalty program to its 100 million-plus user community.

Maps 2.0 envisions a richer mapping experience, seamlessly connecting users with local businesses and experiences. With personalized promotions, loyalty programs, and branded content directly on the map, Maps aims to enhance users' travel experiences.

Maps' Embedded Wallet

Addressing the inefficiencies in cross-border payments, Maps plans to offer an embedded wallet for users, allowing them to directly lend and trade assets. The goal is to provide users with a seamless and cost-effective financial experience, reducing the impact of intermediaries and exorbitant fees.

MAPS token

The MAPS token is central to Maps 2.0, binding its extensive user community. Token holders stand to benefit from 100% of net revenues generated by Maps, with revenue streams including transaction fees, foreign exchange conversions, advertising, and credit card interchange fees.

MAPS token holders are eligible for personalized rewards and services based on their actions and token holdings. The benefits are expected to be tiered, with larger token holdings unlocking additional services and discounts, following a model familiar to users and service providers in the travel and credit industries.

MAPS token holders play a pivotal role in driving Maps's application and governance. Each token represents one vote, allowing holders to vote on binding governance initiatives related to the platform.

Technological Foundation

Supporting a real-time mapping, payments, and investing platform is challenging, but Maps 2.0 relies on the scalable DeFi layer powered by Serum, built on the high-throughput Solana blockchain. Solana's high transaction capacity and cost-effectiveness make it a suitable foundation for Maps's ambitious plans.

Maps Team Background

The Maps team, led by co-founders Alex Grebnev and Viktor Mangazeev, showcases diverse expertise. Alex, with 16+ years in investment banking, holds an MA in mathematics from the University of Cambridge. Viktor, a serial tech entrepreneur, founded successful ventures like myDFS and a KHL white-label app. Tina Chen, the Head of Business Development, contributed as the primary fixed income trader for Goldman Sachs Asset Management. Sam Bankman-Fried, an advisor, is a MIT physics graduate and founder of Alameda and FTX.

Project Development

The latest major news about Maps was in March 2023 when Alex Grebnev, CEO co-founder of Maps and Oxygen, and founder of fintech firm N2 Capital AG ('N2'), faced a malicious smear campaign by an unidentified individual using pseudonyms. This campaign led to a misleading article by The Guardian on March 26, 2023, which, despite corrections, prompted a response due to its initial publication.

Addressing The Guardian's allegations, N2 emphasizes compliance with relevant laws and sanctions, implementing robust KYC systems, automated transaction monitoring, and blockchain screening. N2 restricts card services from Russian residents using geo-location technology and does not offer VPN services or conduct business in Russia.

Regarding The Guardian's claim about Mastercard ending its relationship with MapsMe and N2, N2 clarifies that Mastercard's agreement was with Monavate, not N2. N2 terminated its contract with Monavate due to repudiatory breaches. N2, represented by international law firm Reed Smith, asserts adherence to regulatory legal advice and denies any sanctions breaches.

MAPS Price Analysis

As of November 24 2024 MAPS has a marketcap of $1.5M. This is {{percentagefromath}} from its all time high of $2.00. In terms of its tokenomics, there's a total supply of 10B with 0.75% currently outstanding. Keep in mind MAPS has a fully diluted value of $200M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.