What is MAP Protocol?
MAP is the utility token of the Map Protocol, which is described as an Omnichain layer for Web 3.0. An Omnichain layer is a network that can support many blockchains, allowing users to transact and exchange tokens, NFTs, and other digital assets across different networks. The protocol provides instant confirmation of Omnichain transactions, hassle-free communication between different chains, and an SDK suite for Omnichain dApp creation.
You can check the current MAP price featured on the MAP Protocol price chart above.
The main aim of the Map Protocol crypto project is to become a secure end-to-end solution for users to move their assets across different blockchains without the need for the involvement of third parties.
The protocol is comprised of three layers:
- The application layer. It stores decentralized applications that make use of the protocol;
- The blockchain layer. It serves as a dedicated blockchain foundation and infrastructure;
- The asset layer. It stores all assets mapped on the protocol.
Use Cases of MAP Tokens
MAP Protocol crypto assets have a variety of use cases.
Firstly, the MAP token acts as a reward token for participation in the protocol. As a community member, you can be a validator, a maintainer, a liquidity provider, a messenger, or simply an end user.
In order to become a validator (who validates and creates new blocks), users have to stake MAP tokens, which leads to a second use case of MAP – staking. Besides, if users don't want to become validators themselves, they can delegate their tokens to other validators and earn a portion of their block rewards.
Lastly, staking MAP coins also provides holders with governance rights. How does it work? By staking MAP tokens, users receive XMAP as a reward voucher. XMAP can then be used to generate GMAP tokens, which provide holders with the right to vote on various decisions concerning the future development of the project.
Don't forget to check the MAP Protocol price chart to see the live MAP price.
MAP Tokenomics
The initial total supply of MAP Protocol coins is 10 billion. However, there's no max supply set. 32% of the supply was dedicated to institutions and partners, 20% to the core team, and 15% to the MAP Foundation. The remaining portion was set aside for community incentives, the technical community, and the application ecosystem.
