Geodnet Staking – Boost Miner Earnings 14X with a Superhex

Geodnet staking have been around for a while and makes users able to earn with their GEOD tokens and also enables Hyfix MobileCM satellite miners able to earn a lot more by mining in a superhex. Let’s take a look on how staking geod works and how many miners we can have in a superhex.

geod staking

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Table of Contents

  1. What is the Geodnet miner?
  2. How many Geodnet miners can I have in the same location?
  3. What is Geodnet staking?
    1. What is Geodnet superhex?
      1. How is a superhex created?
        1. Superhex colors
    2. How to stake GEOD tokens
  4. Geodnet superhex miner rewards
    1. How much will the second and third deployed miner in a superhex earn?
    2. What happens if an active superhex does not get a deployed miner?
  5. Geodnet staking rewards
  6. Geodnet Miner Setup and Earnings

What is the Geodnet miner?

The Geodnet miner is a device that receives constant signals from satellites and acts as a reference base station on earth. This allows these satellite stations to contribute with GNSS (global navigation satellite system) data to Geodnet, that ultimately improve GPS accuracy for online location based applications. If you want to know more about Geodnet, you can read this article.

How many Geodnet miners can I have in the same location?

All standard Geodnet miners within a normal hex share the geod token rewards. See the geodnet map with hexes here. If there is only one miner in a hex it will earn the full 48 geod tokens per day. If there are more miner in the same hex, the miners will split the rewards. It does however exist hex NFTs which miners can get for providing data for a long time. The miners with a hex NFT will earn the full 48 Geod per day eventhough more miners have joined the same hex. The other miners within the same hex without a NFT will earn from a separate pool and split the 48 GEOD tokens per day among each other.

Setup of hyfix miner

What is Geodnet staking?

Geodnet staking was launched to incentivize users to place satellite miners in desired areas. This is made to improve the GPS accuracy for a desired location and to overall grow Geodnet. Users who participate in Geod staking can earn additional rewards on their staked tokens. Users who deploy satellite miners within the desired staked areas will also earn a lot higher rewards.

What is Geodnet superhex?

Geodnet can choose areas were accurate GPS location service applications are needed and incentivize people to stake and place miners there by using staking. These areas are called superhexes. A superhex is made up of 7 smaller hexes on the GEODNET map. The superhexes are launched by Geodnet during a time period and people who have the GEOD token can stake them on the superhexes for extra rewards. Once a superhex is fully staked, people in the nearby area can deploy the hyfix satellite miner in the superhex to earn even more.

How is a superhex created?

A superhex is created by Geodnet. Geodnet starts the process by proposing a superhex which makes it eligible for staking. Then anyone can stake GEOD tokens in the superhex. The superhex needs a minimum of 50000 geod tokens staked within 30 days to become active. When a superhex becomes active it enables users to setup satellite miners within the superhex to earn even more. Miners have 180 days, from that the superhex becoming active, to setup a miner within the superhex. The first three satellite miners that are placed within the superhex get extra rewards. The stakers also earn a reward for staking based on their staked amount. This suphex reward from the superhex lasts for 1 year.

Superhex colors

Green superhexes are newly proposed and allows people to stake geod tokens on them.
When a superhex becomes full of staked tokens it will become blue “Active”.

geodnet map

How to stake GEOD tokens

You can find the superhex staking feature here. Begin by connecting your metamask wallet using the polygon network. You can add the polygon network to your metamask wallet here. You can find the proposed (green) superhexes under “Available for staking”. Geod staking lasts for 1 year. The smallest amount of geod tokens you can stake is 2000 tokens, and it increases in 2000 increments. There is no limit to how many users that can contribute to a stake. As long as the total stake is above 50000 tokens, the superhex will become active for miner deployment.

Geodnet superhex miner rewards

The first one to deploy a satellite miner in a newly formed active superhex (blue) will get the full mining reward bonus for an entire year. The reward is four times the normal reward amount of geod tokens (192 geod tokens per day). This reward multiplier will then increase by 1x for every 15 days that passes for a total of 180 days (if there is no additional miner deployed within the same area). You can see the current dollar price of the geod token here.

geodnet staking

How much will the second and third deployed miner in a superhex earn?

The second and third satellite miner that is deployed in a superhex will earn half the amount that the first deployed miner earns. Additional miners that are deployed after that (fourth, fifth miner and so on) will earn the standard 1x rewards (48 geod tokens per day).

What happens if an active superhex does not get a deployed miner?

If a superhex does not get 50000 geod tokens staked on it before the 30 days have passed, then the staking fails and the tokens are released back to their owners without any additional reward.

geod price
GEOD token price on 25th March 2024

Geodnet staking rewards

Users who stake geod tokens in a superhex, which gets miners successfully deployed in it within 180 days, will earn 10% of their staked tokens at the end of the 1 year stake period.

How much do I earn staking GEOD?

Staking GEOD in a superhex for 1 year earns 10% of the staked amount.

How much data does the Geodnet miner need?

The Geodnet miner use around 10-15 GB of data per month.

Will I earn more by being the first to stake in a new Geodnet superhex?

No. The order of who stakes does not impact the earnings.

What do I need to run a Hyfix Geodnet satellite miner?

You need a roof that have a clear view of the sky and you also need a stabile wifi connection.

How big is a geodnet hex?

geodnet hex

A Geodnet hex is 250 km2 and about 20km from side to side.

Geodnet Miner Setup and Earnings

If you want to see how to setup the geodnet miner or how much the hyfix satellite miner earns you can see the two videos below.

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