GEODNET Mining Guide: How to Mine Like a Pro

GEODNET helps gather ultra-precise, real-time location data with a network of GNSS (Global Navigation Satellite System) stations. Imagine turning your rooftop into a data hub, making money while improving location accuracy worldwide. GEODNET is already generating $630k annually and plans to dominate the $3.4 billion GNSS correction market.

This guide will show you how GEODNET works and how to start mining like a pro to tap into this innovative network.

How GEODNET Network Works

GEODNET runs the world’s largest Real-Time Kinematic (RTK) network, providing precise location data through a decentralized blockchain-powered system. With over 9,000 active miners in over 140 countries, the network supports various industries like autonomous driving and precision agriculture by offering high-quality, centimetre-level accuracy.

At the heart of GEODNET are Base Stations—small GNSS antennas installed on rooftops or other high points. These stations receive satellite signals and generate correction data that improves the accuracy of any connected device called a Rover. 

A Rover can be anything from a car or drone to a mobile phone or tractor, as long as it has a GNSS receiver. The data these devices use helps correct errors caused by space weather and satellite inaccuracies.

Each Base Station collects and uploads about 10-20 GB of data monthly to the GEODNET network, which then shares this corrected data with Rovers within a 20-40 km range. GEODNET also monitors geospatial changes like earthquakes and structural shifts, adding value beyond navigation by keeping a pulse on environmental and geodetic events.

GEODNET Tokenomics

Tokenomics is crucial for miners because it directly affects how much you can earn and how rewards are distributed over time. 

The GEOD token supply is capped at 1 billion, with daily mining rewards halving annually, making early participation more profitable.

Miners earn tokens based on how long their Base Station is active. The base reward starts at 2 GEOD per hour, but this halves each year on June 30th. 

Early participants earn more because of this halving schedule. Before July 2024, miners can earn up to 48 GEOD daily with triple-band Base Stations. By July 2025, that reward drops to 12 GEOD daily, emphasizing the advantage of starting early. 

Additionally, while miners get daily payouts, other allocations, such as those for the team and investors, unlock gradually over several years.

Below is the list of token addresses for each allocation:

Mining: 0xfa5fEd5cc2b6DD8F370651D17242C52Ed711B14F

Mining distribution wallet: 0x8FB9dd00B9a3D893dA96d444817d0b77330d5478

Ecosystem: 0x3A6906E4239F9860C81035c54198Df58D892653b

Team: 0xca3E874Bc4e830796d822F529C29Df30302324b2

Investor: 0x486559899e96981DFE55C4E6EBF5101A76BfAdfa

Vendor/Marketing: 0x82146cf0f350c241757660fd803c73313b06d75c

Public sale: 0xcEcccB3ee2C208Fb58A5a02499E97D4BF041Ff6f

Hourly Rate and Yearly Token Rewards

Hourly Rate (GEOD)	Yearly Rewards (GEOD)	Schedule
2	17,520	July 2022 - June 2023
1	8,760	July 2023 - June 2024
0.5	4,380	July 2024 - June 2025
...	...	...

Token Rewards per Day Based on Multiplier

Year	Maximum Token Rewards / Day
07/01/2023 - 06/30/2024	48 GEOD
07/01/2024 - 06/30/2025	24 GEOD
07/01/2025 - 06/30/2026	12 GEOD
...	...

How to Mine GEODNET Tokens?

If you're ready to start earning from your own Base Station, buy your HYFIX miner here and follow these quick steps to set up and begin mining.

• Set up the HYFIX device: Unbox the equipment and connect the GNSS antenna, Wi-Fi antenna, and power cables.
• Install the antenna: Mount the GNSS antenna in an open area with a clear sky view, such as your roof.
• Connect to Wi-Fi: Use your phone or computer to join the HYFIX device’s Wi-Fi network and enter your home Wi-Fi details to connect the miner to the internet.
• Register and start earning: Go to console.geodnet.com, register your miner using its serial number, link your wallet, and earn GEOD tokens as your device transmits data.

For more information, please read our GEODNET setup guide.

GEODNET Token Reward Calculations

GEODNET rewards miners based on the quality of the data their Base Stations provide. One key factor in calculating token rewards is the number of effective satellites the station detects. 

Here's how it works in simple terms:

Effective Satellite Count: Only satellites with a signal strength (SNR) of 32 or higher are considered. This ensures that only strong and reliable signals contribute to your rewards.

Reward Ratio:

• If your station detects 30 or more effective satellites, you earn 100% of the potential rewards.
• If your station detects 20 or fewer satellites, the reward drops to 0%.
• For satellite counts between 20 and 30, the reward decreases gradually, using this formula: (30 - number of satellites) / 10.

Simple Steps:

1. Count the satellites with an SNR of 32 or higher.
2. Calculate the effective satellite number.
3. Determine your reward based on that number using the formula.
4. Check the reward ratio in the provided graph.

Future Reward Metrics

GEODNET plans to introduce more metrics to improve data quality and refine reward calculations. This will include factors like multipath errors, network delays, and data accuracy.

Here’s a quick look at the current and upcoming reward metrics:

Metric	0% Reward	100% Reward	Calculation Style	Year Implemented
Online Time	<50% offline	100% online	Linear	2022
Satellite Count	<20 satellites	>30 satellites	Linear	2022
Neighbor Distance	<100 meters	>100 meters	Split among miners (except NFT holders)	2023
*Data Shift	>10 cm	<2 cm	Linear	est. 2024
*Latency	>5 seconds	<1 second	Linear	est. 2024
*Multipath	TBD	TBD	TBD	est. 2024

*These metrics are subject to change during implementation.

Hex Reward Calculations

Hex reward rules are designed to ensure fair and even coverage of the GEODNET network. Here's how the rewards are calculated for Base Stations in a Hex:

• NFT Base Station Rewards: If a Base Station has an NFT within a Hex, it earns 100% of the rewards with no penalty.
• Non-NFT Base Stations: If no NFT Base Stations exist in a Hex, non-NFT stations share the total 100% reward. For instance, one non-NFT station earns the full 100%, while two non-NFT stations split the reward 50% each.
• Multiple Stations in the Same Hex: When both NFT and non-NFT stations exist in the same Hex, the NFT station(s) receive 100% rewards, and the remaining 100% is shared among the non-NFT stations. For example, if there are two NFT stations and two non-NFT stations, the two NFT stations get 100% each, and the two non-NFT stations split the remaining 100%.
• Within 100m Radius: If multiple Base Stations (with or without NFT) are located within a 100m radius, they will share a single reward. The earliest station gets the reward, and the rest receive nothing.

Special Cases

• Inactive Stations: If a non-NFT station is offline for more than seven days, it loses its share of the rewards. For NFT stations, if they are offline for more than 37 days, they lose their NFT-protected status, allowing other stations in the Hex to bind an NFT.
• Re-calculating Rewards: Rewards are recalculated when new Base Stations enter or leave a Hex, NFTs are bound or unbound, or stations go offline for the specified period.
• Moving Between Hexes: As of October 9, 2024, if a Base Station moves to a new Hex, its Reward Reliability Rating (RRR) resets to 0%. Any bound NFTs are unbound, and miners must achieve a 98% RRR over 30 days to re-bind the NFT.

SuperHex Rewards

The SuperHex program is designed to encourage miners to deploy GEODNET Base Stations in less populated and remote areas, helping build an evenly distributed RTK network. Here's how the SuperHex rewards work:

• What is a SuperHex? A SuperHex is a specially designated area on the GEODNET network map, made up of 7 connected subhexes. These regions are identified as high-value areas that require better RTK coverage. The first Base Station set up within an active SuperHex earns rewards multiplied by up to 4x.
• How does staking work? Community members can stake GEOD tokens on these SuperHexes. The staking activates the SuperHex, making it available for Base Station deployment. In Phase II of the program, a minimum of 20,000 GEOD is needed to activate a SuperHex, with stakers earning a 20% bonus at the end of one year.
• Multiplier Rewards: The first Base Station deployed within an active SuperHex receives the maximum reward multiplier, either 2x or 4x, for one year. Afterward, any additional Base Stations will earn the normal 1x reward.
• SuperHex States:
• Available for Staking: A proposed SuperHex becomes available for staking, and once fully staked, it turns active.
• Active: Once active, new Base Stations can be deployed in the SuperHex and start earning multiplier rewards.
• Producing: When a Base Station is deployed, the icon changes to show it's producing rewards, with the first station getting the full multiplier benefits.

Best Practices for GEODNET Mining

Here are five essential best practices to follow for maximizing efficiency and GEODNET rewards:

• Install in an Open-Sky Location: Ensure your GNSS antenna has a clear, unobstructed sky view with no obstacles. For optimal signal strength, there should be no obstructions beyond a 10-degree elevation angle from the base of the antenna.
• Place the Antenna at the Highest Point: Install the antenna on your roof or another elevated, secure spot. The higher the antenna, the better the signal reception, improving your rewards. Evaluate your location using our profitability calculator tool to ensure it’s ideal for mining.
• Maintain Proper Antenna Alignment: Keep the antenna at a perfect 90° angle, pointing straight at the sky. A slight tilt can weaken the signal, reducing your mining efficiency.
• Ensure Stable Power Supply: Use a reliable 5V, 2.5 amp power source to prevent performance drops. Unstable power can disrupt your miner’s operation and reduce token rewards.
• Monitor Signal Strength Regularly: Check your miner's signal-to-noise ratio (SNR) via the GEODNET console. Keep the SNR above 32 dB to maintain a steady stream of token rewards.

Final Thoughts

If you’re ready to turn your rooftop into a cash-generating hub while helping improve global location accuracy, GEODNET mining is a great way to do it. 

Setting up is pretty straightforward, and with some simple tweaks, like placing the antenna high and keeping it clear of obstructions, you can maximize your earnings. Plus, thanks to the halving schedule, the sooner you start, the better your rewards will be.

So, why wait? If you’re interested in joining the world’s largest decentralized RTK network and earning GEOD tokens, get your GEODNET MobileCM (Triple-band) miner here and start mining like a pro!