Token
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.
Miners earn GEOD tokens thru the Proof of Accuracy Protocol which validates measurement observation quality on several metrics shown below.
Location Staking
The GEODNET Foundation is working with the community to build a world-wide, evenly distributed GNSS network. Achieving even coverage requires deployment in less populated regions and some hard to reach locations. The GEODNET Foundation launched a Location Staking service to solve this problem to promote coverage even in remote areas.
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. Any new GNSS mining stations deployed in the active SuperHex will receive extra rewards according to the schedule below:
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 sells data service to web2 and web3 clients.
- Foundation receives funds
- Foundation buys back tokens in amount of 80% of the received funds
- Foundation burns the repurchased tokens
Token supply and unlock schedule:
GEODNET issued pre-mined tokens in the Polygon blockchain. The total token supply is 1Billion. The token distribution is below.
All tokens have a lock schedule. Mining tokens are unlocked and distributed to each miner on a daily basis. Other allocation to team, investors, ecosystem are released under two to three year vesting processes.
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.
