Title: 《Maps.me and Oxygen AMA》

Author: MapsMe

Compiled by: ChainCatcher

Thank you to everyone who participated in the MapsMe and Oxygen AMA on February 1st. You can watch the replay (and the full transcript) here, but below is a brief summary of the key points. Co-founder Alex Grebnev hosted the AMA, with Scott Carlson, Head of Digital Asset Security at Kudelski Security, and Simon Jones, Strategic Lead for Maps and Oxygen projects, also in attendance.

So what is the status of Oxygen and Maps?

Maps.me and its sister project Oxygen have an exciting future. Alex Grebnev will now be the sole leader for the development of both projects. About 50 people are researching Oxygen and Maps, and we will soon enhance the team through collaboration with BTBlock, which focuses on the Solana blockchain and its protocols (including Serum).

What achievements have these projects made so far?

Our vision is to develop a new DeFi-based financial system that makes it easier for you to exchange value no matter where you are. Through Oxygen, we have fulfilled the promise of building finance without Wall Street. Our vision for Maps is to provide equal access to financial services globally by embedding DeFi-based financial services for tens of millions of users. Oxygen is one of the few DeFi projects on the Solana mainnet. It is also one of the few companies that have undergone an audit by Kudelski Security, which we believe is crucial for building trust with institutional and individual users and driving liquidity.

What will happen in 2022?

Plans to launch Maps Wallet in Q2 2022. The wallet already has a waiting list of 550,000 people, indicating a significant demand for DeFi financial services among MapsMe retail users.

Creating a Metaverse based on Maps.me and its existing user base of 140 million.

Launching Nitrogen in February, which is our Web 3 mobile wallet focused on DeFi and GameFi. It is a mobile non-custodial wallet for Solana assets (including NFTs).

Next month, launching Oxygen_Light, a streamlined version of the DeFi lending protocol that is simpler, faster, and cheaper. It follows a simpler interest rate algorithm for rate setting.

Transitioning Oxygen to Beta after a successful security audit by Kudelski to provide a complete DeFi wholesale brokerage experience.

Launching Oxygen 2.0, which will take into account the experiences gathered so far, aimed at deeper integration with strategic partners and providing cross-asset class support.

Why has the radio been silent until now?

We recognize the need to strengthen our interaction with the community. We are forming a community management team and will ensure that the team is available to our users. We will do better in this regard, hold more such meetings, and improve Medium post output to keep the community updated.

Will you burn tokens?

We have confirmed our commitment to token burning. As stated in the white paper, MAPS token holders will manage changes to the net income generated by MAPS. This may include token burning. Our focus is on driving the use of the protocol to generate net income at this stage.

What about staking and increasing liquidity?

We plan to announce a staking and liquidity mining program by the end of February. We have a multi-layered strategy focused on creating a liquidity program and embedding Oxygen into various platforms with highly relevant audiences. We continue to work on establishing many strategic partnerships to make Maps and Oxygen a part of people's daily lives. We have already signed a planned partnership with one of the major credit card companies that will be announced soon.

How do you position Metaverse and GameFi?

We believe the Maps and Oxygen ecosystem is well-suited for the rise of the Metaverse. GameFi is essentially where DeFi was a year or a year and a half ago. We believe Nitrogen can become a simple, intuitive wallet for people to use as they start their journey in earning money through games and NFTs. Mobile wallets are one of the primary entry points for people into digital assets and can naturally serve as gateways into DeFi protocols like Oxygen. The large and loyal user base of Maps.me is an important asset for launching its own Metaverse, making it more interesting and appealing to both existing and new users.

What’s next?

We are focused on achieving our long-term vision and the roadmap to realize our goals, which will generate net income to power our tokenomics. We are committed to continuing to build an alternative financial infrastructure, finance without Wall Street, and integrating it into the real world as much as possible.