How does the Galactic map work?

When I click on the Galactic map tab I get to see a graphic representation of the positions of the top 10 empires, as well as the changes over the last 24 hrs.

My question is: Does the map work like the in-game map? Do the colors represent the respective empires ownership AND POSITION in the metaverse galaxy? Are the blank parts occupied by empires not in the top 10?
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