Location NFT
What is GEOD Location NFT?
Other #DePIN projects have struggled to create even network coverage as many blockchain and crypto enthusiasts currently live in major cities, and there are also generally fewer people in rural areas. The GEODNET Location NFT is an important tool that incentivizes even geographical deployment distribution. Each GEODNET Location NFT is a unique, non-fungible ERC-20 token issued on Polygon.
For reference, here’s the GEODNET Location NFT collection on Opensea: https://opensea.io/collection/geodnet-location-nft
How to Obtain a Location NFT
To be eligible for a location NFT, a Base Station (Satellite Miner) must satisfy ALL of the following conditions:
The station is the first one in the Hex providing good data (98% RRR for 30 days).
There must be no other station with an NFT in the same Hex as the current station.
The station has not received an NFT previously.
The station owner has a valid wallet address in their profile.
If a Base Station has an NFT, its reward rate is protected from the splitting of rewards within a hex. See Hex Reward Rules for details.
Location NFT Inactive :
If an NFT Base Station is offline for 37 days, it loses its protection.
If it is back online and there is no other NFT station in the same hex, it can still bind its NFT.
If another station has bound NFT in the same hex, it can no longer bind the NFT. The Base Station can be treated as normal and regular hex rules apply. The Base Station's NFT can be used for other purposes, e.g. transfer or sell.
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