Token
The $GEOD token is earned via mining. There are two types of miners, Space Weather Stations miners and Service Provider miners. Space Weather Station miners earn $GEOD tokens thru the Proof of Accuracy Protocol which validates measurement observation quality on several metrics shown below.
Service provider miners are rewarding using a Proof of Stake protocol. Service Provider miners also are the backbone of the blockchain.
User can utilize the service with a Data Credit at a fixed price. A data credit corresponds to one second of real-time service from the Weather Network. The Data Credit can be directly purchased or exchanged from $GEOD tokens at the oracle price.
The blockchain itself consists of both Space Weather miners as well as Service Provider miners who act as validators on the blockchain.
Token supply and unlock schedule
Geodnet will firstly issue pre-mined token in Polygon blockchain. The total token supply is 1Billion. The token distribution is below.
All tokens will have their lock schedule. Mining tokens are strictly unlocked and distributed to each miner on a daily basis. Thus mining tokens will be unlocked and rewarded to miners in the process of 10+ years. Other allocation to team & investors & ecosystem will be under a 3-year vesting process.
Token
The $GEOD token is earned via mining. There are two types of miners, Space Weather Stations miners and Service Provider miners. Space Weather Station miners earn $GEOD tokens thru the Proof of Accuracy Protocol which validates measurement observation quality on several metrics shown below.
Service provider miners are rewarding using a Proof of Stake protocol. Service Provider miners also are the backbone of the blockchain.
User can utilize the service with a Data Credit at a fixed price. A data credit corresponds to one second of real-time service from the Weather Network. The Data Credit can be directly purchased or exchanged from $GEOD tokens at the oracle price.
The blockchain itself consists of both Space Weather miners as well as Service Provider miners who act as validators on the blockchain.
Token supply and unlock schedule
Geodnet will firstly issue pre-mined token in Polygon blockchain. The total token supply is 1Billion. The token distribution is below.
All tokens will have their lock schedule. Mining tokens are strictly unlocked and distributed to each miner on a daily basis. Thus mining tokens will be unlocked and rewarded to miners in the process of 10+ years. Other allocation to team & investors & ecosystem will be under a 3-year vesting process.