4/9/20241 min read

Hivemapper is a decentralized digital map network built on Solana, capturing map data from dashcams for an open-source alternative to Google Maps. Launched in 2022, it introduced its native cryptocurrency, $HONEY, to incentivize economic activities within the network. Hivemapper connects a network of contributors who provide map coverage through dashcam content.

Users access maps via the Hivemapper app, earning HONEY tokens by operating dashcams, which record in 4K and update maps in real-time during drives. Advocating for a decentralized and monopoly-free map creation, Hivemapper aims to democratize mapping, free from institutional censorship.

In April 2022, Hivemapper announced a $18 million Series A funding to realize its vision, attracting attention from investors like Multicoin Capital and Solana Ventures, along with notable individuals such as David Rogier and Elie Seidman. Maps have become indispensable, representing a $300 billion market. However, challenges such as monopolistic control, privacy concerns, clarity issues, and outdated data plague the current map market.

Hivemapper addresses these through blockchain technology and a token-incentive model similar to Helium's network. By selling dashcams and offering the Hivemapper app, drivers earn $HONEY for contributions, with the network selling map image APIs to businesses for a win-win outcome.

$HONEY, Hivemapper's native cryptocurrency, was launched on the Solana blockchain in November 2022. Aimed at fostering economic incentives within the network, $HONEY rewards contributors and is required for businesses utilizing map data.

The token economics outline a total supply of 10 billion $HONEY, with allocations for investors, employees, security and technical maintenance, a managing foundation, and ecosystem contributors. The mainnet launch planned to distribute 4 billion $HONEY to contributors, with a burning and minting balance mechanism and a 40% reduction in token issuance every two years to ensure long-term network growth.

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