Onocoy Miner Info

About Onocoy

Onocoy is a community-driven decentralized GNSS network that delivers centimeter-accurate location services through satellite data provided by Onocoy miner stations. For providing data, the stations earn the BONO and upcoming ONO token.

How We Can Earn with Onocoy

By contributing data to Onocoy through an Onocoy miner, we are rewarded with daily BONO tokens. These BONO tokens currently have value but will convert to the ONO token when Onocoy launches their mainnet. On Onocoy’s explorer page, we can estimate our token rewards based on our location using a map, seeing how earnings are impacted by nearby stations.

How Many Onocoy Miners in the Same Location

There can be up to 3 Onocoy stations within a 15km radius that earn full token rewards. A 4th station nearby causes the station with the worst data quality to lose part of its reward amounts. When stations are 50km apart, they face no distance penalty. However, even if several stations are set up in the same location and provide high-quality data, they will still earn some token rewards.

The Setup

To set up an Onocoy miner, we need a station and an antenna placed in a location with a clear open sky. Once the station is set up, an Onocoy account needs to be created on the Onocoy dashboard. Lastly, the station is synced with the Onocoy server, and a Solana wallet must be connected to receive token rewards.

Dual Mining

The Onocoy station can be used with other satellite data-collecting devices (like the GEODNET miner) to dual-mine two tokens at the same time. When dual-mining, only one antenna is needed. To connect both stations to the same antenna, an extra GNSS cable and a splitter are required. DISCLAIMER: Performing dual-mining with the GEODNET miner in this way is not recommended by GEODNET. If the GEODNET miner gets damaged in this process, users cannot get their money back. So far, no issues have been reported in the Onocoy community social channels when dual-mining this way.

Mining Rewards and Potential

The ONO token has a fixed supply of 810 million tokens, with 40% allocated to miners as rewards. Onocoy is still in their testnet stage and currently offers boosted rewards for those who provide data through an Onocoy station. This suggests that people mining Onocoy are still early adopters.

Onocoy Miner

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