GEODNET Staking and SuperHex Program Phase II

The GEODNET Foundation is working with the community to build a worldwide, evenly distributed RTK network. Achieving even coverage requires deployment in less populated regions and some hard-to-reach locations. The GEODNET Foundation launched the SuperHex program to promote better coverage even in remote areas.

General Idea

The GEODNET Foundation, together with current and potential customers, reviews a list of high value areas on the map requiring RTK base stations. These regions are then defined as a SuperHex. The SuperHex consists of 7 continuous hexes in the current GEODNET network map. The Foundation makes these SuperHexes stakable. All community GEOD holders can stake on these SuperHexes. Afterwards, existing and future miners can deploy a base station in the SuperHexes to receive additional rewards.

SuperHex Phase I review and Launch of Phase II

The SuperHex Phase I program was launched in Nov 2023. It was a success. All 91 SuperHexes were staked and all 91 had at least one miner installed so far (some Phase I SuperHexes are still open to receive a 2nd or 3rd miner). No new Phase I SuperHex above and beyond the existing 91 will be opened.

Upon reviewing the Phase I program and feedback from the community, the GEODNET Foundation plans to launch a Phase II starting Apr 1st, 2024. Phase II SuperHex’s will have updated parameters for the number of GEOD required to Stake in order to activate, as well as the number and multiplier for the miner installed in the Phase II SuperHex. The targeted deployment number for Phase II SuperHexes is set at up to 500.

Comparison of SuperHex Phase I and Phase II

Staking Workflow

Key Steps:

• GEODNET creates a SuperHex proposal and makes it available to stake.
• All users can stake GEOD tokens to meet the minimal requirements (20,000 GEOD currently) within 90 days. The proposed SuperHex becomes active for miner deployment.
• Within 180 days, the initial miner deployed in the designated SuperHex area will receive multiplier rewards for a duration of one year starting from the installation date of the station.
• Staker will get 20% percent bonus at the end of the 1-year period for staked GEOD tokens.

SuperHex States

A SuperHex can have three states:

• Available for staking
• Active
• Producing

State Change Diagram:

Available for Staking SupeHex: The GEODNET foundation creates a new proposed SuperHex location for the community to stake. The SuperHex is highlighted in green as shown in the map below.

In the GEODNET Console map, users can find all the available SuperHexes from Menu Item “Stake” -> Tab “Available for Staking”.

Users connect their wallet to stake the available SuperHex. The minimum stake required is 1000 GEOD, with increments of 1000 GEOD thereafter.

Active SuperHex: Once a SuperHex is fully staked, the color of SuperHex changes to blue. For each Active SuperHex, the console will clearly indicate whether the SuperHex has a 2X or 4X 1-year multiplier.

Anyone in the SuperHex region can then deploy a new miner in one of the 7 hexes and start to earn extra rewards!

Most of the SuperHex reward is set to 2X the average miner reward. In some extreme valuable locations, the SuperHex reward can be up to 4x the average miner reward.

At the end of 180 days, if no miner appears in a SuperHex, the SuperHex becomes No-show, and the staked tokens are released back to the staker without the Phase II 20% bonus.

Producing SuperHex

The icon for the SuperHex will show a red check mark.

Any following miners installed in the SuperHex will then receive the normal 1x reward. All subsequent miners are subject to regular rules such as overcrowding penalty, NFT protection, etc.

Performance of the Miners

The performance of the miners is crucial in making the GEODNET network useful. We will implement more performance metrics over time to determine the token rewards for miners.

In addition to the existing metrics, we are planning to add metrics such as multipath, network delay, etc. Always deploy the miner with a clear sky view following the 10-degree elevation angle rule and maintain stable power and Internet at the location.

FAQ

1. India Remote Mining:

The remote India mining program is ongoing for only existing miners. We will not be accepting new requests through GEODNET/HYFIX to host remote miners.

2. What happens to existing lease contract?

Hepta Networks will be in contact with owners directly to extend the lease contract. contact@heptanetworks.io

3. If contracts are not renewed, what happens to the paid station?

Confirm contract cancellation with Hepta Networks at time of renewal request. A new station will be shipped to owner at the end of the subscription and the existing Inida station will be deregistered from console account. Owner will be responsible for the shipping cost and custom fees of the new station.

4. India 2x Reward Promo:

New stations that went online in India on or after April 1, 2024 will NOT recieve 2x rewards and will receive the same rewards as all stations in the world according to data quality and hex rules.

5. Will there be Phase II SuperHexes in India?

Yes. Contact Hepta Networks for remote deployment into the SuperHex. contact@heptanetworks.io

6. How much GEOD do I need to stake?

20,000 GEOD is required to fully stake a Superhex. You do not need to fully stake a Superhex alone.

7. Can I split my stake with others?

Yes, any number of participants can contribute to reach 20,000 in increments of 1000 GEOD tokens.

8. How much do I earn for staking?

At the end of the 1-year producing period, the staker receives an additional 20% of GEOD tokens. For example, if the staker staked 2000 GEOD tokens, at the end of the 1-year producing period the staker shall receive 2400 GEOD tokens.

9. What is the earning potential for deploying into a staked area?

The first miner in an active and empty SuperHex can receive the full bonus mining rate for one year after it is installed.

10. What is the difference of the reward multiplier from phase I?

For SuperHex phase II, the multiplier reward is fixed. So, the best strategy is to deploy a Base Station in a SuperHex as soon as you can.

11. How long does the stake last?

1 year from the first day of the producing period. If no station shows after 180 days, the stake is canceled and tokens are returned early.

12. How long do the rewards last?

1 year from the date the first station in the SuperHex goes online.

13. How fine are the timestamps( if someone else deploys on the same day, what happens?)

GPS provides an exact time stamp down to 100nS level accuracy, so there is no ambiguity on who is first.

14. If I stake into an area 1st do I get more than the 2nd staker?

Order is unimportant in staking. All stakers are treated equally.

15. When do multiplier rewards no longer apply (can I put 20 miners in a hex with a multiplier?)

Only the first miner will get the multiplier.

16. What is the clock on a SuperHex that isn`'`t fully staked?

A proposed SuperHex has 90 days to get staked or the proposal will be cancelled.

17. How does this impact the Tokenomics?

The aggressive Phase I tokens emission only supports a small number of SuperHexes. The Foundation reduced the maximum multiplier reward, but increased the number of SuperHexes which increases the opportunity to deploy a station in a SuperHex.

18. Are national forests and deserts going to be off limits?

We discourage any illegal deployments. Proposed SuperHex locations will be carefully reviewed.

19. What happens if you stake, someone installs a station, then the station is moved out before reward time is over, who gets the reward?

If there is another station in that SuperHex, it will earn the reward multiplier once the initial station leaves. The Superhex reward then passes onto the next station that had entered the SuperHex earliest.

20. You stake a hex, someone deploys, and that station gets stolen or removed. You put in a replacement station, does that station get the multiplier rewards?

The Superhex reward then passes onto the next station that had entered the SuperHex earliest.