Token
The $GEOD token is earned via mining and staking. Satellite miner will receive up to 48 GEOD token/day for tripple-band miner (24 GEOD for dual-band miner). Rewards halve annually on Jun 30.
Miners earn $GEOD tokens thru the Proof of Accuracy Protocol which validates measurement observation quality on several metrics shown below.
Location Staking
GEODAO foundation is working with community to build the world-wide, evenly distributed GNSS network. It is typically a very difficult problem to solve as resources are more approachable in bigger cities. So GEODNET foundation launches Location Staking to solve this problem to promote coverage even in remote areas.
GEODAO foundation, together with current and potential customers will work out a list of high value areas on the map requiring GNSS mining stations. These reagions is defined as SuperHex. GEODAO will make these SuperHex stakable. All community GEOD holders can stake on these SuperHexes for rewards. Once SuperHex is fully staked with GEOD tokens, SuperHex is active for GNSS mining stations to be deployed. Any new GNSS mining stations deployed in the active SuperHex will receive extra rewards up to 14X compared to regular trip-band miners.
On-Chain
GEOD token is currently available as ERC-20 token based on Polygon blockchain.
GEOD token can now be traded in DEX in
QuickSwap and UniSwap. Current available trading pairs are GEOD/USDT, GEOD/MATIC.
Burn-Mint Equilibrium
- Foundation sell data service to web2/web3 clients.
- Foundation gets funds
- Foundation buys back tokens
- Foundation burns tokens.
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.
