MAPO token
MAPO is the native token on MAP Relay Chain.
What is a cryptocurrency?
Cryptocurrency is a digital or virtual form of currency that uses cryptography for security, making it difficult to counterfeit or double-spend. It is decentralized and operates on a technology called blockchain, which is a distributed ledger enforced by a disparate network of computers. Cryptocurrencies are distinguished by their lack of physical form and traditional oversight or governance, such as that provided by central banks or financial institutions.
The pioneering cryptocurrency, Bitcoin, was created in 2009 by an anonymous individual or group known as Satoshi Nakamoto. Since then, thousands of alternate cryptocurrencies have emerged, each with distinct functionalities, use cases, and underlying technologies.
These digital currencies are used for a wide range of purposes, including online purchases, investments, remittances, and as a means to transfer value across borders efficiently and without the need for traditional intermediaries. Their rise has sparked significant debate and interest, reshaping the landscape of finance and raising questions about the future of money in the digital age.
What is MAPO?
MAPO is a cryptocurrency. It is the digital money that opens the door for you to access the Bitcoin-level peer-to-peer omnichain network.
MAPO fuels MAP Protocol
MAPO is the heart of MAP Protocol. When you send MAPO or use an app on MAP Protocol, you'll pay a fee in MAPO to use the MAP Protocol network. This fee serves as an incentive for a block producer to process and verify your activity on the network.
Validators are like the gatekeepers of MAP Protocol—they check and ensure all the transactions are valid and accurate. They are randomly selected to verify new translations and add them to a blockchain. Validators will be rewarded with a small amount of MAPO for the work they do.
There are certain hardware and software requirements you need to meet to become a validator. You can check out the details on Run a Node.
Besides those requirements, validators also need to stake a certain amount of MAPO to help secure the whole MAP Protocol network and earn rewards. If prefer to secure the omnichain network without building a node, you can still participate in staking by delegating your MAPO. More on staking.
MAPO underpins the omnichain financial system
Moving beyond mere transactions, the omnichain community is crafting an all-encompassing financial network that is peer-to-peer and universally accessible. Currently, users can earn MAPO through staking. However, as MAP Protocol evolves and expands, forthcoming functionalities like borrowing and lending will be introduced, broadening the utility of MAPO.
Uses for MAPO grow every day
Because MAP Protocol is programmable, developers can shape MAPO in countless ways. Here are just some of the things you can do with MAPO.
Get stablecoins — access the world of cryptocurrencies with a steady, less volatile value.
Getting MAPO
Users can get MAPO from a centralized exchange or decentralized exchange. You can also become a validator or participate in staking to earn MAPO as a reward.
Staking MAPO
Staking is the process of participating in a proof-of-stake (PoS) or a similar consensus mechanism to support the operations of a blockchain network. Participants lock up a certain amount of cryptocurrency in a wallet to help validate transactions, secure the network, and produce new blocks. In return, participants usually receive additional tokens as rewards, potentially leading to a stream of passive income.
Once validators have configured their Validator node, they need to have 1 Million MAPO in their staking pool. Users can participate in staking by delegating their MAPO to the stake of a particular Validator; in this way, they help that Validator operate and earn a percentage of rewards based on their stake.
Query MAPO
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