What is Maps.me (MAPS)? Project and Token Analysis

Coin: Maps
Ticker: MAPS
Date Deployed: Mon Nov 28 2022

Origin of the Project

Maps.me was founded by Yury Melnichek, Alexander Borsuk, Viktor Govako, and Siarhei Rachytski, and quickly grew under Alexander’s leadership, amassing 2.5 million users worldwide. In November 2014, Maps.me was acquired by Mail.Ru Group and became part of its My.com brand. A year later, in 2015, the app was open-sourced, and a free version was made available on F-Droid, offering users access to an open-source software option for their mapping needs.

In November 2020, Mail.ru Group sold Maps.me to Daegu Limited, part of the Parity.com Group, which revamped the app’s user interface and content. After this acquisition, in January 2021, a fork called Organic Maps was created by Alexander and Viktor, continuing development through the FOSS community. Maps.me 2.0 evolved into a comprehensive travel tool, positioning itself as the ultimate travel companion while integrating features for users to engage with the emerging financial system.

MAPS Product Features

MAPS Token:

Central to the Maps 2.0 ecosystem, enhancing user experience and driving community adoption.
Provides financial benefits to holders and is expected to be integrated into the app soon.

Integrated Wallet:

A built-in wallet for seamless, low-cost cross-border transfers and multi-currency accounts.
Enables users to book, review, and discover travel services directly within the app, leveraging decentralized finance for a smooth experience.

Offline Maps:

Detailed maps available worldwide for offline use, providing navigation and points of interest without the need for an internet connection.

Offline Navigation:

Supports various transport types, including walking, cycling, driving, and even public transport routes like subways.
Allows users to order taxis directly from the app.

User Bookmark System:

Travelers can mark and review locations, create collections, and share them with other users for added community engagement.

Easy Navigation:

Provides detailed tourist routes and hiking trails, with real-time location tracking even without turning on the navigator.

Secure Wallet:

Facilitates fast, secure, decentralized transactions, eliminating foreign bank fees and enabling easy account creation for crypto storage.

Should MAPS Be in Your Portfolio?

Before you decide whether or not to add MAPS 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.

Due Diligence Tips Before Investing or Trading MAPS

Research the Token

Analyzing MAPS as a token is important for understanding its potential. Review its whitepaper, community engagement, development team, and long-term roadmap. Is the project solving a real problem and has a clear plan for the token in its ecosystem?

Perform in-depth research before trading any Solana-related project, including MAPS. Understanding the project’s whitepaper, the use case, and the founding team’s goals will give you insight into the coin’s potential.

The orderbook can leave clues too, when there are more buy orders than sell orders, MAPS’s price is likely to rise, while an excess of sell orders could lead to a price drop. It can also help identify past market manipulation.

Develop a Safe Trading Strategy

Having a structured trading strategy prevents making emotional mistakes. If you cover multiple aspects, such as considering market conditions, clear trading goals, and determining entry and exit points, it can improve your chances of success. Your risk tolerance can make a great plan if you follow it and if the market agrees with your strategy.

In crypto, it’s easy to get caught up in the excitement and make impulsive decisions, especially when seeing how many others are making loads of profits. Avoid rushing into buying MAPS during a price pump, as a correction can follow.

An effective risk management strategy is a great differentiator as a trader, and that includes MAPS. Use stop-loss and take-profit orders to limit losses and lock in profits automatically. Also, position-sizing is smart to not risk too much of your capital on a single trade, protecting your portfolio from significant losses.

How to Scan MAPS on Solsniffer

Copy the MAPS contract address: MAPS41MDahZ9QdKXhVa4dWB9RuyfV4XqhyAZ8XcYepb
Open the Solsniffer website and paste the address in the search bar.
Within seconds, a detailed analysis of MAPS on-chain data is generated.
A security score called Snifscore also ranks the project out of 100 to determine the authenticity of the project.

MAPS Tokenomics

Total Supply: 10,000,000,000
Max Supply: N/A
Market cap: $1,130,821

Snifscore Analysis

Snifscore: 0/100
High-risk factors: 7
Medium-risk factors: 2
Low-risk factors: None

Summary of (5) Contract Passed Indicators

No scams linked to owner’s wallet
No permanent control risk
No concerning metadata found
Recent user activity confirmed
No auto-freeze risk

Summary of (7) 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
Top 10 wallets hold significant share – High Risk
Top 20 wallets hold significant share – High Risk
Metadata mutability risk – Moderate Risk

Find Out if MAPS Is a Fraudulent Token

Detecting a scam project requires a combination of caution, research, and vigilance. Fraudsters come up with numerous ways to trick investors, staying awake to the warning signs before falling victim.

One of the first red flags is an offer that guarantees high returns with little to no risk. Rug pulls are the most common scam at the moment, the project creators build hype around a new Solana project and then disappear with the profits. If the team of a project stops providing updates, it could be a sign of trouble.

A few tips to protect yourself is to research the team behind a project, see how well they execute their roadmap, use secure wallets, enable 2FA and avoid giving your personal data to social media giveaways.