MAPS Token and Supply — An Update
As the builders of an ambitious long-term project, we’re thrilled with the amount of positive and constructive feedback from the Maps.me and DeFi communities. Maps.me users, travellers, and DeFi enthusiasts are aligned in making MAPS successful.
After hearing your contribution and valuable thoughts, we’re happy to announce even further commitments to the long-term success of Maps.me and MAPS. Our early contributors and the team have agreed to additional token lock-ups, thus reducing the initial circulating supply of MAPS by 75%.
The updated circulating supply will start at 75m with a hard cap of 300m for the first year. The team has agreed to constrain the initial circulating supply and to release further tokens only if and when they are necessary to provide liquidity and meet extraordinary demand — we do not anticipate reaching 300m this year.
More specifically, the hard cap of 300m includes 75m for initial liquidity, a maximum of 150m for the Maps.me ecosystem to drive the community and encourage app usage (and nothing shortly after listing), and 75m in reserve for emergency liquidity. We do not anticipate using the latter 75m reserve unless it is necessary to provide more robust liquidity. And, to reiterate, all presale and team tokens are fully locked for the first year with linear vesting for the six years after that. The team and investors are committed to the long-term — and hopefully booming — success of Maps.me.
We recognize the importance of being both decisive and thoughtful in our plans of building the financial infrastructure of the future. Thank you again for all your inputs on the MAPS token ecosystem: we can proudly say that we have dedicated participants looking out for the success of the Maps.me and Serum and Solana ecosystems. And this gives us pride in the initial growth conditions for MAPS and its community.