What is Hivemapper (HONEY)? Project and Token Analysis

Coin: Hivemapper
Ticker: HONEY
Date Deployed: Wed Nov 30, 2022

Origin of the Project

Hivemapper is an innovative, decentralized mapping network launched in November 2022 that leverages AI to build a global map from everyday driving activities. By harnessing the efforts of a dedicated contributor community, the Hivemapper Network collects millions of kilometers of road-level imagery each week. Contributors help create high-quality, street-level HONEY using dashcams, and they can also participate in AI Trainer games to refine the map and improve machine learning models. In exchange for their efforts, contributors earn HONEY, a digital token that can be redeemed to access map data.

The Hivemapper Network is designed to be decentralized, ensuring fairness and openness. With the support of the Hivemapper Foundation, the network maintains its decentralized nature by encouraging community engagement and fostering an open-source ecosystem. The network is also permissionless, allowing anyone to contribute to or use the data without needing special approval. By offering rewards-based incentives, Hivemapper ensures that contributors share in the economic benefits of building the global map, making it a collaborative effort with tangible rewards.

Hivemapper Product Features

Map Image API:

Provides real-time, high-resolution street-level imagery for integration into internal systems.

Map Features API:

Grants access to detailed, geolocated map features such as road signs and speed cameras.

Scout:

Allows users to explore, search, and monitor global locations using live street-level imagery.

Beekeeper for Enterprise:

Fleet management solution with no recurring SaaS fees or annual contracts, designed for enterprises.

Bee for Consumers:

Enables users to passively map the world and earn rewards using a high-resolution video recorder while ensuring safety.

Should HONEY Be in Your Portfolio?

Before you decide whether or not to add HONEY to your portfolio, click here to scan the contract on Solsniffer. Solsniffer is the number one blockchain intelligence tool to detect security risks on Solana. Security risk analysis on Solana has never been easier, make sure to be aware of potential DeFi wallet scams and other crypto security concerns before investing.

Key Tips to Consider Before Trading or Investing in HONEY

Reviewing the whitepaper. This will give detailed insights into the project’s goals, technology, and roadmap. A well-written whitepaper outlines the problem the project aims to solve, how the token functions within its ecosystem, and the long-term vision. If the whitepaper is vague, overly technical without substance, or lacks clear explanations, it can indicate a poorly structured project. Understanding the whitepaper helps traders and investors determine if the project is viable.

It is also important to check the development team’s background and track record because they reveal the credibility, expertise, and past successes of team members. A team with a proven history and good reputation of delivering successful projects in the Solana industry is more likely to build other sustainable projects. An inexperienced team can be a red flag.

Use appropriate risk management strategies when trading or investing in a Solana project to protect your portfolio from significant losses. One key approach is establishing clear entry and exit points before investing. This means deciding in advance the price at which you’ll buy into a project and when you’ll sell, either to lock in profits or minimise losses.

Additionally, diversifying your investments across multiple projects rather than placing all funds into one asset further reduces risk. By spreading your investment across different projects, you minimise the impact of any one project failing or experiencing a significant downturn.

Emotional decisions often lead to poor timing and significant losses. For more stable, long-term gains, avoid the Fear of Missing out (FOMO), which can drive investors to chase hype without proper research, only to experience sudden downturns due to irrational and impulsive decisions.

How to Scan HONEY on Solsniffer

Copy the HONEY contract address: 4vMsoUT2BWatFweudnQM1xedRLfJgJ7hswhcpz4xgBTy
Open the Solsniffer website and paste the address in the search bar.
Within seconds, a detailed analysis of HONEY on-chain data is generated.
A security score called Snifscore also ranks the project out of 100 to determine the authenticity of the project.

HONEY Tokenomics

Total Supply: 6,362,784,713
Max Supply: 10,000,000,000
Market cap: $182,306,206

Snifscore Analysis

Snifscore: 65/100
High-risk factors: 5
Medium-risk factors: 1
Low-risk factors: None

Summary of (5) Contract Passed Indicators

Sufficient liquidity confirmed
No permanent control risk
Balanced ownership in top 20 wallets
No concerning metadata found
No custom fees applied.

Summary of (6) Contract Risks to Consider

Mintable risk detected – High Risk
Freeze risk present – High Risk
Transferability risk found – High Risk
Private wallet holds significant supply – High Risk
Large portion of LP is unlocked – High Risk
Metadata mutability risk – Moderate Risk

Spot if HONEY Is a Scam Token

Transparency provides investors with clear insight into the project’s goals, technology and financials. This openness reduces the chances of fraud, promotes accountability, and builds trust with the community.

Team identity can also help identify potential crypto scams because it reveals whether the project’s leaders have credible backgrounds. Anonymous or fake teams raise red flags, while established and reputable individuals on the team attract support from the community.

Scam projects often use hype and flashy marketing to attract investors without offering real value or purpose. They focus on creating excitement rather than addressing a genuine problem or providing a necessary solution. If a project struggles to explain its purpose or the need for its token clearly, it may lack substance, and investors might be scammed down the line.

Staying vigilant and conducting thorough research will help you avoid most crypto scams, as fraudulent projects often exploit investor excitement and lack of information. Additionally, protecting your assets by using wallet security best practices, such as enabling two-factor authentication and storing private keys securely, can reduce your risk.

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