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What Is HONEY?
HONEY is the token of the Hivemapper Network.
HONEY tokens are used to create economic incentives across the Hivemapper Network, while balancing the needs of two groups within our ecosystem:
The token economics of the Hivemapper Network are designed to ensure that HONEY will be available to fulfill demand for map data, but relatively scarce with a known maximum.
There is a fixed maximum supply of 10 billion HONEY tokens.
Tokens were initially allocated in the following manner:
- 15% to Hivemapper Inc. for providing R&D and operational support to the Hivemapper Network.
The amount of tokens earned by contributors is not capped at 4 billion HONEY.
In order to consume data from the network (for example, through the Map Image API), HONEY tokens must be burned in exchange for Map Credits. The net number of tokens burned will be re-minted and distributed to contributors using the Net Emissions Model.
As more data is consumed, more HONEY is burned and more tokens are redistributed to contributors.