Coin Vs. Coin: CANDY/MAPS
Blockchain technology has been steadily making its way into the travel industry over the past few years. Two of the top ten travel industry cryptocurrencies by market cap are MAPS (MAPS) and TripCandy (CANDY).
In the travel sector of cryptocurrency, these two altcoins have surged in the last month with MAPS (#5) posting +56.64% and CANDY (#7) posting +122.5% over the last 30 days. As such, it’s worth comparing the value of these travel industry cryptocurrencies.
What is MAPS?
MAPS is a fintech Dapp that brings the benefits of DeFi to the masses through the travel industry. According to their whitepaper, “No project has captured a ton of users, and none are ready to meet the high-throughput needs of the most exciting real-world use cases. Until now.”
The travel industry is one of the best market sectors to bring the advantages of DeFi to users and MAPS proves why. The DeFi platform connects with countless transit hubs, hotels, shops, cafés, restaurants, retailers, parks, and many more attractions in thousands of cities around the world. These locations are mapped out and recommended to the user before their trip begins.
Its native token was launched on the Serum DEX, itself built on the high-throughput capacity Solana blockchain. The embedded MAPS wallet is convenient for users to utilize its native token which allows for cross-border payments without transfer fees or foreign exchange conversions under traditional methods. In one survey MAPS conducted, 47% of 26,000 users said they would use MAPS’ financial services with the Dapp.
Its 2.0 version gives users personalized rewards, loyalty programs as well as ownership and governance of the MAPS token. The Dapp’s 1.0 version after acquiring 60 million active users in 195 countries.
What is TripCandy?
TripCandy turns traveling into an investment by rewarding users with a percentage of crypto earned for every dollar spent. With every trip booked, TripCandy takes a percentage of the total sale and buys CANDY tokens off the market.
TripCandy’s business model is meant to incentivize users to continue to use its platform as its aim is to increase the value of CANDY tokens bought on the market. CANDY tokens are capped at 1 billion max supply creating scarcity and therefore likely to raise demand over time.
CANDY’s tokenomics show a total supply of 1 billion tokens with over 209 million in circulation. Their token is available on the Binance Smart Chain and will burn an undisclosed amount of tokens to reflect token distribution. TripCandy does charge a 3% tax per transaction split into three equal parts between the wallet holders, deployment wallet operator, and liquidity pool.
Similarities
MAPS and TripCandy both give revenue back to their users through their simplistic platforms that reflect traditional booking and rewards platforms such as Booking.com, Priceline, and Expedia.
Both CANDY and MAPS have great potential to bring the benefits of DeFi to the market because of their traditional online booking style, yet bringing rewards and convenience through the blockchain.
MAPS has its own mobile app available on Apple’s App Store and Google Play Store; TripCandy will have its mobile app available on Apple and Google later this year.
Differences
TripCandy works to provide customers with hotels, airlines, restaurants, etc., with an emphasis on price value. MAPS provides location-based services and landmarks with an emphasis on convenience.
TripCandy has a customer support hotline and traditional payment options for convenience.
With TripCandy users can stake CANDY; MAPS is a native token from which users receive 100% of the net revenue, rather than a staking interest rate.
MAPS uses biometric identification with 3DS 2.0 technology to ensure users’ security when making purchases around the world.
TripCandy is an easy-to-use platform that allows travelers to transfer crypto globally from their TripCandy wallet with 0% for foreign transactions. MAPS uses biometric identification with 3DS 2.0 technology to ensure users’ security when making purchases around the world.
Travel industry cryptos
The travel sector is one of the best industries to introduce the market to web3, specifically DeFi, because it takes the familiar experience of online travel booking and injects high-value add-ons such as staking, rewards, loyalty points, and no-fee transfers.
Travelers do not have to know about blockchain technology or the intricacies of Dapps to be able to benefit from the rewards of Dapps like MAPS and CANDY. Both of these dapps show that blockchain technology is very utilitarian when it comes to something like traveling, which can be stressful, and provide benefits that traditional web2 technologies cannot.
What do you think about MAPS and CANDY? Let us know in the comments!
