MAP Protocol Tokenomics
MAP Protocol has its own relay chain (PoS). The native utility token of MAP Protocol on MAP Relay Chain is $MAPO, whose ticker name on other chains is $MAP. Core use cases of MAP Protocol’s native token:
Gas Metering
MAP Relay Chain’s native token is used for paying transaction fees. Users need to specify a certain amount of transaction fee in MAP Protocol so the transaction can be successfully processed and included in the blockchain. It is used as the gas metering of smart contract execution.Protocol Security
MAP Relay Chain is a Proof-of-Stake blockchain which means the security of the network is protected by staked tokens. MAP Relay Chain’s native token is used to incentivize token holders and power the mechanics around the creation of a decentralized node infrastructure on which the blockchain can run.On-chain Governance
MAP Protocol is a permissionless and decentralized network which is governed by the community. Any protocol level decisions or improvements will be put as a proposal which will go through the open governance process to finalize. MAP Relay Chain’s native token is the only accepted token used as the measure in the governance process, including proposing referenda, electing council members, voting, etc
