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State of GEODNET Q4 2024
- At the end of 2024, GEODNET had over 12,000 active Satellite Miners worldwide, reflecting a 219% increase from the previous year. This positioned GEODNET as the largest RTK network in the world, surpassing centralized competitors such as Trimble.
- GEODNET's infrastructure spans more than 140 countries and 4,000 cities. The highest concentration of miners is in the United States and Europe, with significant presence in South America, Australia, and India.
- In Q4 2024, GEOD tokens burned reached an all-time high, increasing 54% YoY in GEOD terms and 463% in USD terms, reflecting strong demand and revenue growth.
- In December, GEODNET executed one of its largest token unlocks, releasing 32.46 million GEOD ($7.98 million). Despite the unlock, GEOD’s price remained unaffected, rallying ahead of the event and continuing to reach all-time highs afterward.
- GEODNET raised a Strategic Funding Round for $2 million from Animoca Brands and ParaFi Capital.
GEODNET (Global Earth Observation Decentralized Network) is a Decentralized Physical Infrastructure Network (DePIN) project delivering high-precision geospatial data and positioning through a decentralized Real-Time Kinematics (RTK) network. The network operates on a community-driven model where individual operators purchase and install RTK Base Stations, also known as Satellite Miners, on their property. These base stations receive GNSS signals and provide real-time correction data with 1 cm accuracy, which is then transmitted to GEODNET's cloud platform.
The GEOD token is the native utility token of the GEODNET network, used to reward contributors and facilitate transactions within the ecosystem. GEOD tokens are primarily used to reward users who have installed Satellite Miners and to pay for RTK data services. Additionally, GEOD tokens enable participation in project governance.
In just two years, GEODNET has expanded to over 10,000 RTK Base Stations globally, making it the largest RTK network in the world and surpassing centralized competitors like Trimble. This rapid growth has resulted in $2 million in annualized revenue.
Key Metrics
Analysis
At the end of 2024, GEODNET's GEOD circulating market capitalization reached $62 million, marking a 59% quarter-over-quarter (QoQ) increase and a 524% year-over-year (YoY) growth, nearing its all-time high. The fully diluted valuation of GEOD stood at $245 million, reflecting the token's maximum supply of 1 billion, with 40% of the total supply unlocked by the end of 2024. For the first half of 2025, GEOD tokens are scheduled to unlock at a rate of 21 million tokens per month. GEOD ranked as the 750th largest crypto asset by market cap, but ranked among the top physical DePINs.
The GEODNET network operates on a decentralized model where individual participants deploy RTK Base Stations, known as Satellite Miners, on their property. These base stations receive GNSS signals and generate real-time correction data with 1 cm accuracy, which is transmitted to GEODNET's cloud platform. In exchange, operators receive daily GEOD token rewards.
At the end of 2024, GEODNET had over 12,000 active Satellite Miners worldwide, reflecting a 219% increase from the previous year. This positioned GEODNET as the largest RTK network in the world, surpassing centralized competitors such as Trimble.
GEODNET's infrastructure spans more than 140 countries and 4,000 cities. The highest concentration of miners is in the United States and Europe, with significant presence in South America, Australia, and India.
The GEODNET Foundation monetizes correction data by selling it through multiple channels, with 80% of the revenue allocated to buying and burning GEOD tokens. GEOD tokens also serve as an indirect payment mechanism within the network. While most RTK data transactions are conducted in fiat currency, 80% of these payments are used to repurchase and burn GEOD tokens.
In Q4 2024, the volume of GEOD tokens burned reached an all-time high, increasing 54% YoY in GEOD terms and 463% in USD terms, reflecting strong demand and revenue growth.
The total supply of GEOD tokens is capped at 1 billion, with no plans for additional issuance. Mining allocations are distributed daily to base station operators according to a fixed schedule. Allocations for the team, investors, and ecosystem follow a multi-year vesting plan. A detailed breakdown is available in the GEODNET Deep Dive Report.
On December 28, 2024, GEODNET executed one of its largest token unlocks, releasing 32.46 million GEOD ($7.98 million). Despite the unlock, GEOD’s price remained unaffected, rallying ahead of the event and continuing to reach all-time highs afterward.
Ecosystem and Partnerships OverviewGeodnet is expanding its ecosystem through strategic partnerships across industries, enhancing RTK capabilities and extending reach. Recent partnerships and announcements over the past few quarters include:
- Boson Motors Partnership: At World Ag Expo 2024, Boson Motors showcased an autonomous electric truck using GEODNET'S RTK service, highlighting precise GPS navigation for agriculture.
- Wingbits Collaboration: Geodnet partnered with Wingbits, a decentralized flight-tracking network, to develop professional-grade ADS-B and RemoteID tracking nodes. Wingbits' network currently has 2,000 ADS-B stations, with plans to grow to 10,000 by 2025. GEODNET's RTK service enhances the accuracy of Wingbits' nodes, improving air traffic monitoring and drone operations.
- Propeller Integration: Propeller, a worksite mapping company, integrated GEODNET'S GNSS stations to enhance survey-grade mapping for industries like construction and mining. Using data from GEODNET's 9,000 GNSS reference stations, Propeller delivers high-accuracy maps to support global worksites, improving decision-making.
- Agri Automation Partnership: In October 2024, Agri Automation partnered with Geodnet to deploy RTK services in rural Australia and New Zealand, enabling reliable RTK coverage for autonomous farming solutions and boosting productivity.
- Quectel Wireless Solutions Collaboration: Quectel Wireless Solutions is leveraging GEODNET's GNSS modules to target a wide range of IoT applications, including scooters and robotic mowers.
- ByNav Integration: ByNav has integrated GEODNET'S RTK services into its Automotive Advanced Driver Assistance Systems (ADAS) solutions. This collaboration enhances precision and safety in autonomous driving applications.
- CES 2025 Announcements: At CES 2025, GEODNET highlighted its expanding industry presence with two new partnerships—Septentrio and Bad Elf—further integrating its RTK network into high-precision GNSS solutions, reinforcing its role in both enterprise and consumer applications.
- GEODNET announced the multichain expansion of its GEOD token to Solana using the Wormhole NTT framework.
- GEODNET raised a Strategic Funding Round for $2 million from Anamoca Brands and ParaFi Capital.
- GEODNET introduced GEO-PULSE, a $149 GPS receiver that leverages its RTK network to provide centimeter-level accuracy for navigation, improving driving directions, rideshare efficiency, and urban navigation, while also offering a built-in GPS repeater to enhance location accuracy for all devices in a vehicle.
- GEODNET was actively present at several key industry events in Q4 2024, including Token 2049, INTERGEO, Messari Mainnet, Permissionless, and more.
GEODNET experienced substantial growth in 2024, solidifying its position as the largest RTK network globally. With over 12,000 active Satellite Miners across 140 countries and 4,000 cities, the network expanded by 219% YoY, surpassing centralized competitors like Trimble. This growth was further reinforced by strong demand activity, as the volume of GEOD tokens burned in Q4 2024 reached record highs, increasing 54% YoY in GEOD terms and 463% in USD terms.
December 2024 marked one of GEODNET’s largest token unlocks, releasing 32.46 million GEOD ($7.98 million). Despite the event, GEOD’s price remained unaffected, continuing its upward trajectory and reaching all-time highs. Institutional interest in the network also grew, with GEODNET securing a strategic funding round from Animoca Brands and ParaFi Capital.
Looking ahead, GEODNET is positioned to further expand its network and reinforce its status as a leading DePIN project. As adoption increases, GEODNET is on track to become one of the top physical DePINs.