1. Geodnet Knowledge Base
  2. Project Strategy, Team/Governance, Future Blockchain

What is Staking?

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.