Originally there was only GIP-7, however after a lot of feedback from the community based on how GIP-6 was rolled out, Geodnet is now splitting it into 3 different GIPs. Lucky for us this lets us vote on the specific topics.
Mike has commented that a lot of the issues with getting listed on a CEX is related to lack of trading volume, and as such the theory is that this can be improved if the project move to Solana. As such Geodnet is planning to end support for the $GEOD token on Polygon during March 2027.
Geodnet has already created a wormhole to move your $GEOD between POL and SOL for very cheap: https://medium.com/geodnet/mutichain-solana-support-of-geod-with-wormhole-ntt-explained-635d14e2c3ce
Now Geodnet is proposing to establish a 4M token pool payable from the mining pool to be used for a 0.4% token bonus when transferring your $GEOD to Solana. As an example if you transfer 10k $GEOD via the wormhole you will get an extra 40 tokens.
GIP-8: NFT cap and retaining rule change
This GIP is now focused on the NFT changes. There are two big changes proposed:
#1 To keep your NFT bound you need good performance
One of the major complaints is that some stations that get NFTs degrade and get bad performance; you can find these stations that are getting very low RRRs, below GIP-6’s 80% threshold, and as a result earning 0 rewards. However because they have an NFT they are blocking other stations from earning one, and as a result all the other good performing stations in a hex share the non-NFT reward pool. Currently the only way to get your NFT unbound is to either move your NFT station to a new hex or have it be offline for 37 consecutive days.
The proposal is to institute an RRR threshold that must be maintained in order for the NFT to stay bounded. If you drop below this threshold then the NFT unbinds (you still own it in your wallet) and it goes to the next highest RRR in the hex that meets the requirements to get an NFT. If two or more stations have the exact same RRR then the NFT goes to the station with the earlier install time.
The new threshold is still being debated in the GIP-8 channel in the Geodnet discord. There are a couple proposals, such as maintaining a 30-day RRR of >80%, which is also the GIP-6 threshold where you either earn rewards or earn nothing, or possible a 60-day RRR >80%. Maintaining a 30 day RRR of >80% means your station can’t be offline for more than 141.12 cumulative hours (5.88 days) in a month assuming you were at 98% RRR, or 144 cumulative hours (6 days) if you were at 100% RRR.
#2 Cap the network at 20k NFTs
The original network was anticipating 100k NFTs to provide full global coverage, however Geodnet is now saying they believe only 20k is needed. Geodnet has shared the following, as of Aug 6:
Out of the approximately 19.5k stations on the network, 11192 are NFT stations (57%)
Out of the 11192 NFT stations, 495 are performing lower than 30-day 80% RRR (2.5%)
Out of the 495 <80% RRR NFT stations, 39 are already inactive (0.2%) due to being offline for more than 37 consecutive days
Once the 20k cap is hit then the only way to get an NFT is for another station to get theirs unbounded by the new retaining rule. Once that happens the station with the earliest install anywhere in the world that that is currently meeting the RRR requirements will be awarded the NFT.
One note; originally this GIP was also going to propose closing the multi-NFT claim loophole. This is the mechanic that people exploit where if you install two or more stations in the same hex on the same day and those stations all get >98% on the same day, then they all get an NFT, even if they are in the same hex. However Geodnet informed us that they stealthily changed this on July 15 2025 to where the NFT goes to the station with the earliest install time.
Any NFT in a hex with multiple NFTs is grandfathered in for rewards = you won’t lose the NFT unless you violate the new RRR requirement.
GIP-9: New staking rewards for staker and station owner
To help and stabilize the token value, as well as to encourage improving installs to achieve >99.9% RRR, Geodnet is proposing to add a new staking mechanism. People will be able to stake up to 100k tokens (total among all stakers) on any station that is performing >98% RRR. The stake will yield 8% APY to the staker and 2% APY to the station owner for a perfect performing station. However the rewards will scale over the qualifying RRR range, so 98% to 99.9% (we are asking why does it not include 100%, and if that means 0 yield rewards if the station drops <98% during a stake, but no answer yet).
Rewards will pay out every month, or at withdrawal, with a 1 week minimum stake time.
I’m in favor of GIP-7 and GIP-9. I don’t really see a downside, and both of these should ultimately facilitate $GEOD getting listed.
GIP-8 is more nuanced. I do support the RRR requirements to maintain your NFT, but I’m not yet sold on the final NFT cap. This will help reduce token emissions a little in the future once the 20k NFTs are capped, but I question future installs once we are at the cap and you can no longer guarantee your rewards. Although EU and US are mostly covered at this point, there are still a lot of gaps in South America, and the majority of Africa has no coverage. One day there will be demand in these areas but will people really install when someone else can come along and slash your rewards by half or more? Maybe another GIP at that time…
Reminder. today is the last day to use the Geodnet wormhole to get a 0.4% transfer bonus. Note that the wormhole fee is 7.7 pol as of now, so do the math to make sure it still makes sense before you transfer.
Need to transfer before Oct 14 23:59 UTC (16:59 PST)
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