Overview

GEODNET is a decentralized network that uses blockchain and GNSS technology to provide secure, accurate, and real-time geospatial data. Replacing archaic centralized systems ensures greater accessibility, reliability, and scalability, attributes that have been missing from the industry. Powered by token incentives, GEODNET supports applications across the board like climate monitoring, disaster management, and precise navigation, aiming to transform global geospatial services to extract maximum potential from their business model.

Key Insights

GEODNET aims to decentralize geospatial data, enhancing global connectivity and security through blockchain technology.

Product Highlight:

GEODNET uses advanced low-power GNSS hardware and mechanisms like Proof-of-Location (POL) and Proof-of-Accuracy (POA) to incentivize miners and validators with $GEOD tokens.

Key Features:

It offers real-time services like precise point positioning (PPP), RTK corrections, and GNSS spoofing detection, as well as targeting applications in climate monitoring, disaster management, and autonomous navigation.

1. Growth Vision:

Aims to reach 100,000 miners by 2025, ensuring dense global coverage under GeoDAO's decentralized governance, fostering transparency and scalability.

1.2 Partnerships

Being in the DePIN(Decentralized Physical Infrastructure Network) sector, GEODNET has managed to establish meaningful partnerships, the most recent one being Propeller and Wingbits.

1.2.1 Propeller Partnership:

GEODNET has integrated its extensive network of GNSS reference stations into Propeller's Corrections Network, a cloud-based platform for drone analytics and worksite mapping. This collaboration enhances Propeller's survey-grade solutions, enabling precise data for industries such as construction, mining, and waste management. GEODNET's network strengthens Propeller's PPK mapping workflow by aligning AeroPoints and drones to thousands of published coordinate systems, ensuring high-accuracy geospatial data.

1.2.2 Wingbits Collaboration:

GEODNET has joined forces with Wingbits, a decentralized aviation flight-tracking network, to develop professional-grade terrestrial flight-tracking nodes. By combining Wingbits' ADS-B infrastructure with GEODNET's secure Proof-of-Location technology, the partnership delivers advanced tracking solutions for aviation and BVLOS (Beyond Visual Line of Sight) drone operations. Together, they aim to grow the network to over 10,000 stations by 2025.

These partnerships underscore GEODNET's commitment to expanding its ecosystem and driving innovation in geospatial and aviation tracking solutions.

1.3 Fundraising History

GEODNET has attracted a plethora of interest from established Venture Capital firms. Let's have a look at their fundraising history.

With such heavy interest, GEODNET has managed to raise funds across 4 rounds with a combined sum of $15 Million across 4 funding rounds shown below.

2. Protocol Introduction

- Mike A. Horton, Project Creator: A seasoned executive with over 20 years in the navigation industry, Mike is also the CTO of Anello Photonics. He previously co-founded Crossbow Technology, a leader in MEMS sensor systems, which was acquired for $50M. Recognized as a top 50 expert in sensor technology globally.

- David Chen, Head of Blockchain: A blockchain pioneer since 2013, David has over two decades of experience in Silicon Valley. As a full-stack blockchain expert, he has contributed to consensus protocols, smart contracts, and DApps. He also co-founded multiple blockchain projects, showcasing his deep technical expertise.

- Yudan Yi, Head of GNSS: An accomplished GNSS expert, Yudan has held senior roles at Aceinna, Qianxun SI, and Topcon Positioning Systems. With a Ph.D. in Geodesy from Ohio State University and a B.Sc. from Wuhan University, he brings extensive research and industry experience to GEODNET.

This team's combined expertise in GNSS, blockchain, and geospatial technology forms the backbone of the protocol.

2.1 MVP Analysis

GEODNET's Minimum Viable Product (MVP) includes a robust set of features designed to deliver decentralized, high-precision geospatial data while maintaining efficiency and feasibility to appeal to the masses. Their vision of bringing people as active participants in being miners is showcased by their architecture and deployment process.

- 🌎Global GNSS Network: A decentralized network of GNSS reference stations providing multi-faceted utility-oriented data that can be applied to various fields.

- ⛏️ Incentivized Mining: Participants can deploy low-cost GNSS miners, earning GEOD tokens for contributing geospatial data, fostering network scalability and participation.

- 📍Proof-of-Location (POL) Protocol: Ensures data authenticity and prevents tampering by validating the precise location of GNSS stations.

- ✅Real-Time Corrections: Offers services like PPP (Precise Point Positioning) and RTK (Real-Time Kinematic) for centimeter-level accuracy in positioning.

- 🤝Seamless Integration: Supports major global navigation systems such as GPS, GLONASS, Galileo, and BeiDou for comprehensive coverage.

- 🔗Hardware Accessibility: Easy-to-deploy GNSS miners with multi-band antennas enable participation by users with varying technical expertise.

- 🪙 Decentralized Governance: Managed by GeoDAO, ensuring transparent decision-making and community-driven growth.

2.2 Tech Architecture

2.3 Service Sectors

3. Performance

3.1 Network Analysis

GEODNET operates a decentralized GNSS network of over 13,800 active reference stations across the globe. The network provides secure, high-precision geospatial data by leveraging the contributions of individual node operators. Each node uses multi-band GNSS antennas and operates on a Proof-of-Location protocol, ensuring data authenticity and accuracy. The network is rapidly scaling, supported by an incentivized token system that encourages participation.

3.2 Tokenomics

Tokenomics Overview

The total supply of GEODNET tokens is capped at 1 billion, distributed across various stakeholders as follows:
![][tokenmoics]
Each wallet adheres to a locking schedule, with allocations such as team and investor shares undergoing gradual unlocks over several years to maintain stability and alignment with the network's growth trajectory.

3.3 $GEOD Token Review

The GEOD token has shown impressive growth over the past year, rising by 270.23% to its current price of ~$0.2555. Despite this significant appreciation, its market cap recently experienced a slight decline of 3.89%, now standing at $50.64 million. The fully diluted valuation (FDV) is $253.47 million, reflecting the token's long-term potential in the market.

Key Observations:

1. Price Surge and Volatility:
- The price trajectory indicates periods of sharp increases, reflecting strong speculative interest and market momentum.
- Pullbacks during consolidation phases highlight the inherent volatility in the token market.

2. Market Participation:
- A daily trading volume of $366.78K suggests moderate liquidity. However, the 58.08% drop in 24-hour volume (*as of 19 Nov 2024) indicates recent reduced trading activity.
- The volume-to-market cap ratio of 1.62% shows modest turnover, implying room for growth in active participation.

3. Token Supply and Circulation:
- With a circulating supply of 198.17 million out of a total supply of approximately 992 million GEOD tokens, a significant portion remains locked. Making it another positive as this aligns with the project's multi-year locking schedule for team, investor, and ecosystem allocations, providing long-term stability.

4. Ecosystem and Fundamentals:
- The token's upward trajectory coincides with the project's advancements in incentivizing miner participation, decentralized governance (GeoDAO), and robust application use cases.
- The scalability and global adoption of GEODNET's infrastructure may have contributed to the token's growing demand.

Critical Analysis:
The token's growth showcases the market's confidence in GEODNET's decentralized GNSS network. However, sustainability depends on maintaining consistent adoption, liquidity improvements, and community trust. The decline in recent trading volume is a potential concern, signaling waning speculative activity or short-term market fatigue. Future growth will require the project to emphasize its utility and expand partnerships to sustain momentum. As of the recent market trends, the ecosystem is healthy and bringing in a wide array of investment opportunities and high yield, leveraging this carefully will allow them to maintain public and investor confidence in $GEOD.

4. Qualitative Analysis

4.1 GTM Strategy

GEODNET's implementation of MVP Marketing is very effective, they push for maximum engagement on all campaign-related announcements and regularly publish user testimonials as well.
This pattern allows them to attract organic growth while keeping a strong brand identity in the DePIN space.

Their trajectory of growth on socials also helped generate organic traction for their products, further helping with user acquisition.

Relevant Content Links
Geodnet Overview
Geodnet Working

4.2 Roadmap and Development Assessment

GEODNET's product roadmap started all the way back in Q1 2022, since then they have managed to establish major milestones to the present day, achieving miner targets and much more.
This showcases their diligence on the scheduled timeline and philosophy of development.

Growth Analysis
The network's miner participation metrics show exponential growth:

• 2022 Q1: 100 miners (baseline)
• 2022 Q2: 500 miners (5× increase)
• 2023 Q1: 2,500 miners (5× increase)
• 2024 Q1: 30,000 miners (12× increase)
• 2025 Q1: 100,000 miners (projected 3.3× increase)

This growth pattern indicates strong network effects and suggests successful execution of the project's expansion strategy, though the ambitious scaling targets for 2025 will require careful management of technical and operational challenges.

4.3 User Base Assessment

GEODNET's user base is steadily expanding, driven by its incentivized participation model that rewards miners and validators with GEOD tokens. With plans to onboard ~100,000 globally distributed miners by 2025, the project is scaling rapidly to ensure dense geospatial data coverage. The network primarily attracts tech-savvy users, enterprises in geospatial industries, and early adopters drawn to decentralized infrastructure. Continued growth hinges on broadening outreach to new demographics and industries while maintaining robust incentives and ensuring data quality through Proof-of-Location and Proof-of-Accuracy mechanisms, both of which are rapidly contributing to the DePIN ecosystem.

Conclusion

GEODNET represents an innovative approach to geospatial data collection and processing, leveraging decentralized infrastructure to provide high-precision, real-time location services. Its integration of blockchain technology ensures transparency, security, and incentivized participation, setting it apart in a market dominated by centralized solutions.

The project's tokenomics, anchored by a sustainable mining reward mechanism and strategic allocation for ecosystem growth, aligns well with its long-term vision.
The multi-year locking schedules for team and investor tokens demonstrate a commitment to stability and a focus on sustained development.

However, critical challenges remain, including the need to build a strong and engaged user base, scale its infrastructure globally, and navigate competition from established geospatial players. Success will depend heavily on its ability to foster partnerships, onboard contributors, and continuously innovate its technology stack.

Bearing everything in mind along with ecosystem health and multiple other factors, their MVP offers them a strong point of entry for user acquisition and expansion.
It will be exciting to see what GEODNET has up their sleeve for us in the future!