Hivemapper

Hivemapper (HONEY) is a decentralized global mapping network that rewards its contributors for collecting high-quality street-level imagery with dashcams. The network was launched in November 2022 and uses AI to build a map from the driving data collected every day. The HONEY token is the native cryptocurrency of the network, which is built on the Solana blockchain.

The Hivemapper Network is designed to be decentralized, permissionless, and rewards-based. Contributors can help build the map by collecting imagery with dashcams and playing AI Trainer games to edit the map and improve machine learning models. In return, they are rewarded with HONEY tokens, which can be redeemed to access map data. The network aims to address several problems in traditional mapmaking, including uneven coverage, lack of freshness, and the absence of rewards for contributors.

The HONEY token was first minted on November 1, 2022, as part of block 158569587. The tokenomics are designed to ensure a known maximum supply of 10 billion HONEY tokens, with allocations to contributors, investors, employees, Hivemapper Inc., and the Hivemapper Foundation. The token is used to create economic incentives across the network, balancing the needs of contributors and enterprises that consume map data.

The network operates on a "Burn and Mint" structure, where HONEY tokens are burned whenever enterprises consume map data and re-minted to contributors. This system is based on a Net Emissions Model, ensuring that the token supply is managed sustainably. Map credits, a USD-pegged utility token, are used by customers to access map data, and the demand for these credits drives the value of HONEY.

As of June 11, 2024, the current price of Hivemapper (HONEY) is $0.0751 per token, with a market capitalization of $131,897,635 and a 24-hour trading volume of $1,994,610.

Hivemapper is a decentralized global mapping network that leverages blockchain technology to create a detailed, dynamic, and accessible map of the world. The project is designed to be community-driven, where contributors are rewarded with HONEY tokens for their efforts in collecting and updating map data.

Hivemapper uses various devices to collect geographic data, including:

1. 4K Dashcams: These are mounted on vehicles and capture street-level imagery while driving. The dashcams are equipped with blockchain mining devices, allowing users to mine and earn HONEY tokens.
2. Smartphones: Users can contribute by reporting real-time issues using the Hivemapper App on their phones.
3. Drones: These are used to capture aerial imagery, adding to the overall map data.

Contributors can also help by training the Map AI system. This involves labeling and editing data to teach the AI what humans know about the world. This process helps improve the accuracy and detail of the map.

The HONEY token is the native cryptocurrency of the Hivemapper network. It serves several purposes:

1. Rewards: Contributors are rewarded with HONEY tokens for their efforts in collecting and updating map data.
2. Governance: HONEY token holders can participate in decision-making processes regarding the development and governance of the Hivemapper network.
3. 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.

The tokenomics of HONEY are designed to ensure a sustainable and growing ecosystem. Key aspects include:

1. Total Supply: There is a maximum supply of 10 billion HONEY tokens.
2. Token Distribution: Tokens were allocated to contributors (40%), investors (20%), employees (20%), Hivemapper Inc. (15%), and the Hivemapper Foundation (5%).
3. Burn and Mint: A Net Emissions Model ensures that HONEY tokens are burned whenever map data is consumed, and new tokens are minted to reward contributors. This maintains a balance between token supply and demand.

Map credits are a USD-pegged utility token used by consumers to access map data. The more map credits purchased, the more map data can be consumed. Map credits are the mechanism by which map data consumers compensate the network of contributors for their work.

Hivemapper uses the Solana blockchain, which allows for fast and cheap transactions. This is essential for a busy network where many contributors are actively collecting and updating map data.

The Hivemapper community is encouraged to participate in various ways, including:

1. Driving and Mapping: Using dashcams to collect data while driving.
2. AI Training: Helping to improve the Map AI system.
3. Reporting Issues: Using the Hivemapper App to report real-time issues.
4. Following the Map: Watching the map grow and evolve on the Hivemapper Explorer.
5. Building with APIs: Using Hivemapper's mapping APIs and tools to build new products and services.

Overall, Hivemapper is a collaborative effort to create a comprehensive and dynamic map of the world, where contributors are incentivized and rewarded for their efforts.

Hivemapper (HONEY) has several strengths that contribute to its effectiveness and potential for success:

1. Decentralized Mapping Network: Hivemapper is a decentralized global mapping network that leverages blockchain technology to create a detailed, dynamic, and accessible map of the world. This decentralized approach ensures that the data is tamper-proof, verifiable, and owned by the community, marking a significant departure from centralized models of contemporary mapping services.

2. Incentivizing Contributions: The HONEY token is designed to incentivize contributors to provide high-quality data to the network. Contributors are rewarded with HONEY tokens for their efforts, which motivates them to continuously update and maintain the map data.

3. Community Participation: Hivemapper emphasizes user contribution and rewards participants for their efforts. This collaborative approach ensures that the maps are up-to-date and significantly reduces the barriers to entry for fostering a more inclusive and comprehensive global mapping system.

4. Security and Transparency: The use of blockchain technology ensures that the data is secure, transparent, and verifiable. This ensures the privacy and security of data, which is a critical aspect of the project.

5. Governance and Decision-Making: HONEY token holders can participate in the decision-making process regarding the development and governance of the Hivemapper Network. This includes voting on proposals related to software updates, policy changes, and the allocation of resources.

6. Sustainable Model: The project aims to create a sustainable model that benefits all stakeholders. The tokenomics of HONEY are crafted to support the project's long-term sustainability and growth, ensuring that participants are motivated to contribute quality data to the network.

7. Flexibility and Accessibility: Hivemapper allows contributors to use various devices such as dashcams, smartphones, and drones to capture geographic data. This flexibility ensures that the maps are updated in real-time and are accessible to a wide range of users.

8. Economic Incentives: The HONEY token is used for transactions within the platform, such as purchasing map data, accessing advanced mapping features, and other services offered by Hivemapper. This creates a robust economic system that supports the network's growth and development.

These strengths collectively contribute to Hivemapper's potential to revolutionize the mapping industry by creating a more open, transparent, and participatory mapping ecosystem.

Hivemapper (HONEY) carries several risks. According to InvestorsObserver, HONEY is currently a high-risk investment due to its susceptibility to price manipulation. This assessment is based on the amount of money required to shift its price over a 24-hour period, as well as recent changes in volume and market capitalization. Additionally, the cost of the dashcams, which are essential for the Hivemapper network, may be prohibitively expensive for some users, posing another risk.

• Ariel Seidman: CEO of Hivemapper, previously CEO and Founder of Gigwalk, a mobile innovation company.
• Amir Haleem: Director at Hivemapper, also involved in Helium.
• Frank Mong: Not directly associated with Hivemapper but mentioned as COO of Helium.