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GEODNET Network is a type of RTK network utilizing blockchain as the base framework, with a token as an incentive method to build, expand, maintain the network itself. Also, GEODNET Network provides cryptographic guarantees of data transmission, location servicing, and data ownership authenticity.
Tokenomics
The GEOD token is earned via mining and staking. Satellite miner will receive up to 48 GEOD token/day for triple-band miner (24 GEOD for dual-band miner) before July 2024. Rewards halve annually on Jun 30.
| Year | Token Rewards up to / Day |
|---|---|
07/01/2023 - 06/30/2024 | 48 GEOD |
07/01/2024 - 06/30/2025 | 24 GEOD |
07/01/2025 - 06/30/2026 | 12 GEOD |
... | ... |
Monitor and analyze usage patterns
The GEODNET Foundation collaborates with current and prospective customers to review a selection of high-value regions on the map that require GNSS mining stations. These areas are then delineated as a seven-hex SuperHex. All community GEOD holders have the opportunity to stake their tokens within these SuperHexes for additional rewards. Once the SuperHex is fully staked with GEOD tokens, the SuperHex is active for GNSS mining stations to be deployed. It becomes active for the deployment of GNSS mining stations. The GEODNET Foundation has successfully launched both Phase I and Phase II SuperHex programs. Currently, the first newly deployed GNSS mining station within the active SuperHex will receive rewards multiplied by up to 4x.
Token supply and unlock schedule
Each wallet will adhere to its own locking schedule. Mining tokens will be unlocked and distributed to each satellite miner daily. However, allocations to the team, investors, and ecosystem will undergo a multi-year locking process.
The total supply of GEODNET tokens is 1 billion.
Multi-Chain
GEOD tokens are available as ERC-20 token based on Polygon blockchain.
Smart Contract Address on Polygon: 0xac0f66379a6d7801d7726d5a943356a172549adb
GEOD tokens can be traded in DEX in QuickSwap and UniSwap. Current available trading pairs are GEOD/USDT, GEOD/MATIC.
Following the successful approval ofGIP3, GEOD tokens are now available as SPL token based on Solana blockchain with the Wormhole NTT (Native Token Transfer) framework.
Smart Contract Address on Solana: 7JA5eZdCzztSfQbJvS8aVVxMFfd81Rs9VvwnocV1mKHu
Trading pairs for GEOD/SOL are active on Orca, Raydium, and Jupiter.
GEOD tokens are bridged between Polygon and Solana. GEODNET’s in-app bridge, powered by Wormhole, allows you to easily transfer any token in and out of the app.
GEOD tokens are also available on IoTex blockchain.
Smart Contract Address on IoTeX: 0x8e33229206f726993e4a7bf7da2347f3743bf8b4
IOTX/GEOD trading pair is active on Mimo.
Proof-of-Location
Powered by Blockchain, GNSS base stations work as space weather miners mining for GEOD tokens. Meanwhile, those GNSS base stations provide location correction information for navigation systems such as GPS, Glonass, Galileo, and BeiDou.
Whitepaper
[Abstract] Location-aware IOT device or mobile device plays a vital role in many of its applications, whose market is expected to reach a value of USD 1,386.06 billion by 2026 from USD 761.4 billion in 2020 at a CAGR of 10.53%. Using blockchain technology to secure elements of a location service infrastructure, we can invite a community of business partners to leverage GEODNET as the platform to build out the most extensive RTK network and provide centimeter-accurate location service while enjoying the economy of scale in cost, reliability, and accuracy.
Nov 2021 Version
Link to ION Paper
Note: On Sept 2022, the halving schedule changed to annual halving on July 1st.
