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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.
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.
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). Rewards halve annually on Jun 30.
GEOD token is currently available as ERC-20 token based on Polygon blockchain.
Smart Contract Address: 0xac0f66379a6d7801d7726d5a943356a172549adb
GEOD token can now be traded in DEX in QuickSwap and UniSwap. Current available trading pairs are GEOD/USDT, GEOD/MATIC.
Monitor and analyze usage patterns.
The GEODNET Foundation, together with current and potential customers reviews a list of high value areas on the map requiring GNSS mining stations. These regions are then defined as a seven hex SuperHex. The Foundation makes these SuperHex’s stakable to see. All community GEOD holders can stake on 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. The first three new GNSS mining stations deployed in the active SuperHex will receive extra rewards according to Diagram #1 (actual rewards may vary):
Token supply and unlock schedule
All tokens will have their lock schedule. Mining tokens are strictly unlocked and distributed to each miner on a daily basis. Other allocation to team & investors & ecosystem will be under a 3-year vesting process.
GEODNET token supply is 1Billion. See Diagram #2 for details:
[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.
Aug 2023 Version
Link to ION Paper