What is a High-Rewards SuperHex? and Why Stake GEOD? (UPDATED)
Phase II SuperHexes are coming as of April 1st, 2024. There are some updates to how the SuperHexes work as compared to the Phase I SuperHex program. A comparison of Phase II and Phase I SuperHexes is shown in the table below
A full summary and discussion of the Phase II program is currently found on our Discord Channel. This is a short cut link to the Phase II announcement post.
The Original SuperHex Phase 1 blog is below for the record books. Please note that all Phase 1 super hexes are staked and actively producing. There remain a few Phase 1 super hexes with open slots…….
Decentralized Physical Infrastructure Networks — DePIN is a rapidly growing class of public-use infrastructure necessary for next-generation AI, Wireless, and Robotics applications.
GEODNET is the largest DePIN network addressing high-accuracy secure location services. Currently, there are 3000+ GEODNET satellite miners which form a large centimeter-accurate positioning network. GEODNET has published a peer-reviewed framework for its network in the Journal of Navigation.
The next phase of GEODNET’s growth involves increasing coverage to ensure uniform and high reliability over continental scale areas. GEODNET’s goal is to quickly become the largest RTK-grade accuracy network in the world.
Introducing the SuperHex™ and High-Value Rewards
A SuperHex is a staked “super-sized” hex that contains seven standard Res 5 GEODNET hexes, “sub-hexes”. The first three miners that are correctly deployed within an Active SuperHex earn higher than normal GEOD token rewards for a one-year period.
SuperHexes are part of the overall GEODNET protocol focused on filling gaps and empty regions to achieve uniform quality coverage for its users.
Adding coverage in empty regions is a key way for GEODNET to grow data usage revenue. Moreover, 80% of data revenue is directly used by the Foundation to buy back and burn tokens — example burn. Therefore hexes with existing miners or recently containing miners are not eligible. In addition, areas that are environmentally, legally, or otherwise deemed politically sensitive by the Foundation will not be eligible.
How high are the rewards? The rewards max at up to 14X the nominal GEODNET triple-band miner rewards rate. This currently sits at 672 GEOD tokens per day.
Once the SuperHex is staked it becomes an Active SuperHex, and it appears as a Blue region of seven hexes on the GEODNET console. The first miner deployed in this empty region earns the full high-value rewards rate, and SuperHex is called a Producing SuperHex. The second and third miners deployed in additional empty sub-hexes earn 50% of the high-value rewards rate. The high-value periods last one year.
The final high-value SuperHex reward rate is determined by how long is takes for the first miner to appear in the staked region. The longer it takes; the higher the reward multiplier goes. The following table shows the schedule.
Using the table above, let’s take an example. If staking occurred on January 1, 2024, and the first miner came online within the SuperHex on March 3rd, 2024 (62nd day of year), the reward multiplier is 7x. Once the first miner appears, the high-value rewards rate is locked. A 3.5x multiplier will then be available to the 2nd and 3rd miners in the other empty contained sub-hexes.
If after 180 days from staking, the Active SuperHex is still empty without any active miners, then the stake is released without 10% bonus and the SuperHex is returned to an unstaked state.
Once a Producing SuperHex has three miners, it is called a Saturated SuperHex. Further deployments into this region earn on the nominal GEODNET rewards schedule without a multiplier.
How to Stake a High-Rewards SuperHex?
Staking a SuperHex requires a total of 50,000 GEOD, and any GEOD token holder can stake a SuperHex in increments of 2,000 GEOD tokens. At the end of a 1-year staking period, the staked amount plus 10% is returned to the original staking token holder. Until the SuperHex is staked with all 50,000 tokens, it is called an Available SuperHex, meaning it is available for Staking.
The GEODNET console integrates with the MetaMask wallet, and the entire Staking process only takes a few minutes. SuperHexes available for Staking are shown in Green, and the “Stake GEOD” button is used to complete the action.
How to Propose a High-Rewards SuperHex for Staking?
Currently, the GEODNET Foundation is proposing SuperHex locations for Staking. In a few weeks, any individual with a verified GEODNET console account shall be able to create a new Proposed SuperHex location. Proposals will be verified by the Foundation for eligibility and then published. There is then a 30-day window for the Available SuperHex to collect the 50k GEOD stake.
Summary of Key Terms and SuperHex Guidelines
Proposed SuperHex — A SuperHex region proposed to the Foundation by a GEODNET console user.
Available SuperHex — An approved SuperHex with any amount Staked less than the 50k GEOD required, indicated by Green on the console.
Active SuperHex — A SuperHex staked with 50k GEOD but without any active miners, indicated by Blue on the console
Producing SuperHex — SuperHex with at least one deployed miner earning the reward multiple, indicated by Blue on the console
Saturated SuperHex — SuperHex with 3 miners, each in their own res5 hex
A full list of rules is found on the GEODNET Discord Server here
