Understanding how HONEY moves through the Hivemapper ecosystem.
An on-chain marketplace between the Hivemapper Network’s contributors and customers is created through a Burn and Mint structure. This system is based on a Net Emissions Model, which means thatwhenever map consumers burn tokens to access services on the network, an equivalent number of tokens is added back as Map Consumption Rewards.
To conceptualize how customers access the Hivemapper Network, imagine an arcade where customers buy tokens for a set price per token and use them to play games. The greater the number of tokens purchased, the greater the number of games that can be played. In the case of the Hivemapper Network, consumers of map data purchasemap credits. A map credit is a USD-pegged utility token that can be used to consume map data. With more map credits, more map data can be consumed.
Map credits are the mechanism by which map data consumers compensate the network of contributors for their work. Not only can customers buy map credits to get access to existing data, map credits can also be used to set priorities for upcoming data collection.
As contributors continuously progress the map and make it more useful, more services can be built on top of the Hivemapper Network. As more of these services are consumed, the number of HONEY tokens burned and re-minted will increase. As the demand for map credits (and therefore HONEY) increases, the velocity at which HONEY is burned and re-minted will also increase, and the value of HONEY will become tightly linked to the utility that the Hivemapper Network provides.