Earning HONEY
Last updated
Last updated
There are three primary dimensions by which map consumers value maps — coverage, freshness, and quality — and the amount of HONEY that contributors earn is calculated accordingly.
Specific weightings and functions can be adjusted by the Hivemapper Foundation to balance the economics of the network. This system of incentives is critical to sustaining a healthy and valuable network over time for both consumers and contributors of map data.
Hivemapper’s philosophy is for all contributors to earn a fair reward. Fairness is a combination of utility and access. Anyone located anywhere can contribute and be rewarded their share of HONEY for making quality contributions that can be used by the Hivemapper Network.
The amount of HONEY minted as contributor rewards each week depends on Global Map Progress. The pool of global rewards is divided into individual reward pools for each of the Hivemapper Network, and these regional reward pools are divided among the contributors in each region.
Therefore, the amount of HONEY tokens an individual contributor receives for a given week depends on Global Map Progress, the progress of the regions in which they drove, and individual factors such as the freshness of their routes and the quality of their submissions.
HONEY rewards are distributed each week to contributors for contributions made to the Hivemapper Network over the course of the previous Monday through Sunday.
Imagery for a given week must be uploaded by 4:59pm Pacific Time on the Tuesday following the week’s completion in order to generate rewards. For example, if a contributor maps from Monday, Oct. 2, to Sunday, Oct. 8, they have until 4:59pm PT on Tuesday, Oct. 10, to upload the week’s data.
Rewards are deposited each Wednesday evening (Pacific Time) for the prior week.
In order to receive HONEY rewards, you must have a to the Hivemapper mobile application. Currently, Hivemapper supports Phantom and Breeze wallets.
Unlike a regular wallet that stores cash, crypto wallets like Phantom don’t store your tokens. Your holdings live on the blockchain but can only be accessed using a private key. Your possession of the private key proves your ownership of your HONEY tokens and allows you to make transactions.
Be careful with your private key. If you lose your private key, you lose access to your HONEY tokens. If a hacker or scammer gets your private key, they will be able to access your wallet and take your HONEY tokens.
