Building a DePIN for Improved GPS Accuracy with Geodnet

Proof of Coverage

In today’s episode, Sal and Connor had an insightful discussion with Mike from Geodnet about their recent move to become a multi-chain platform. They explored the motivations behind this decision, particularly how it allows Geodnet to tap into different Web3 communities and enhance adoption of their utility token, GEOD. Mike shared that Geodnet is already wrapped on IoTeX and is set to expand onto Solana, which he believes has a strong DeFi ecosystem.

They delved into the benefits of going multi-chain, including the ability to meet Web3 users where they are and the potential for increased liquidity. Mike emphasized that while some may worry about fragmenting liquidity, established projects like Geodnet can successfully navigate this challenge.

The conversation also touched on Geodnet's impressive on-chain revenue generation, which ranks among the top in the DePIN space. Mike explained how their B2B focus has led to significant customer adoption across various industries, including automotive and agriculture. They discussed the competitive advantages Geodnet has, such as its extensive global RTK network, which offers unmatched accuracy and ease of use compared to existing solutions.

They also explored the tokenomics of Geodnet, where every dollar spent on their services directly contributes to buying back GEOD tokens, with a significant portion being burned to create a deflationary effect. Mike highlighted their goal of decentralization, aiming to establish Geodnet as a fully decentralized protocol for high-accuracy data.

Towards the end of the episode, they discussed Geodnet's plans for a mobile app that will enhance consumer GPS navigation and improve accuracy in challenging environments like tunnels. Mike explained the technology behind this, including sensor fusion techniques that combine GPS with inertial measurement units for better performance.

Overall, this episode provided a comprehensive look at Geodnet's innovative approach to high-precision location services and their commitment to building a decentralized future.

00:00 - Introduction

00:32 - Introduction to Multi-Chain Strategy

02:00 - Geodnet's Multi-Chain Expansion

04:30 - On-Chain Revenue Generation

06:30 - Adoption Drivers for Geodnet

08:30 - Cost Savings with Geodnet

10:30 - Tokenomics and Revenue Accrual

14:00 - Decentralization Goals

17:00 - Scaling Supply Side

20:30 - Geodnet Token Incentives for Miners

22:30 - Mobile App Development

24:30 - Enhancing GPS Accuracy

28:00 - Conclusion

Disclaimer: The hosts and the firms they represent may hold stakes in the companies mentioned in this podcast. None of this is financial advice.