GEODNET

GEOD, the native utility token of the GEODNET network, is making significant strides by going multichain to Solana through the Wormhole Native Token Transfer (NTT) framework. This transition was solidified by a governance vote that saw a 99% approval for the creation of the SPL token, as outlined in GEODNET Improvement Proposal #3 (GIP3). The GEOD token is integral to the network, rewarding Base Station hosts for mining satellite signal data and being utilized by customers through a purchase and burn mechanism. The Polygon-based GEOD token will remain active for satellite mining, while the new Solana token is expected to enhance the network's capabilities and reach. The introduction of the Solana-based GEOD token is anticipated to provide numerous benefits for the GEODNET community, including enhanced service utility through the integration of multiple Solana DePIN protocols. This will facilitate essential services such as communication and mapping protocols, which are crucial for autonomy. Additionally, GEODNET is launching a Mobile SDK and applications, including the GEO-PULSE app, that will align with Solana's mobile initiatives. This move is seen as pivotal for fostering an open and decentralized mobile internet, countering the existing duopoly of the Android Play and Apple Store. To facilitate the transition and increase liquidity, GEODNET has implemented an in-app bridge powered by Wormhole, allowing seamless token transfers between networks. Initial transfer limits are set to 100,000 GEOD tokens to manage risk while liquidity grows. Trading pairs for GEOD/SOL are already live on platforms like Orca and Raydium, with expectations for market-making support to enhance trading activity. The Foundation is also exploring broader multichain support, including the potential for satellite mining rewards on Solana, ensuring that the community remains informed about future developments and utility enhancements for the GEOD token.

Wingbits has announced a significant milestone in its mission to revolutionize aviation transparency and efficiency through a decentralized flight tracking network. Over the past year, the company has been building a global community of flight trackers who have contributed to the beta network using their DIY devices. This grassroots effort has laid the groundwork for the launch of the first Wingbits Approved device, developed in collaboration with GEODNET and HYFIX. Starting today, users can pre-order this cutting-edge hardware, which will be delivered in January 2025, at a special introductory price that includes a $100 discount for early adopters. The newly launched device integrates advanced technology to provide real-time, centimeter-level precision flight tracking data. By utilizing a combination of Wingbits’ blockchain platform and GEODNET’s decentralized GPS network, the hardware allows aviation enthusiasts and tech innovators to contribute to a unique flight tracking ecosystem. Contributors will be rewarded with $WINGS tokens based on their device's performance, incentivizing them to keep their hardware active and maximize data collection. This initiative aims to create the most accurate and expansive real-time map of the skies, benefiting both the aviation industry and its participants. To get involved, interested users can pre-order the HYFIX WB200 and HYFIX MGW310 devices through various distributors worldwide. The process is straightforward: register a location, purchase the device, and extend the reservation using a discount code. With the launch of this innovative hardware, Wingbits is poised to lead the charge in transforming aviation tracking, making it more accessible and rewarding for contributors. This initiative not only enhances flight safety and transparency but also fosters a community-driven approach to aviation technology.

In recent years, tech giants have amassed significant control over the internet, posing threats to data privacy and digital security. The CrowdStrike incident highlighted the vulnerabilities of centralized systems, emphasizing the need for a solution. Enter Decentralized Physical Infrastructure Networks (DePIN), offering a groundbreaking approach to integrating the physical world with blockchain technology. By connecting devices like sensors, IoT gadgets, and computers to decentralized networks, DePIN enables users to earn digital assets by sharing data and resources, breaking free from centralized middlemen who exploit user data for profit. Real-World Applications DePIN-based projects are reshaping various aspects of daily life. For instance, GEODNET leverages blockchain to enhance geolocation accuracy, benefiting industries like agriculture and construction. Community-driven internet access, exemplified by WiFi Map's global hotspots, challenges traditional telecom monopolies. DIMO enables users to monetize vehicle data, fostering innovation in insurance and fleet management. Witness Chain unifies DePIN projects, fostering collaboration and establishing a decentralized infrastructure supply chain. XNET aims to provide network connectivity to the offline population using blockchain technology and CBRS bandwidth, while storage networks like Fi...

Crypto venture capitalists have been successful in raising over $2.2 billion in new capital through closed funds in 2024, as reported by PitchBook data. In recent weeks, several VCs have collectively raised more than $500 million, with notable examples including ParaFi Capital, Borderless Capital, Hack VC, and Robot Ventures. The trend indicates a positive outlook on early-stage startups, showcasing optimism for new innovations. One standout fund is Borderless Capital's $100 million DePIN Fund III, focusing on Decentralized Physical Infrastructure Networks (DePINs) that utilize blockchain technology and token incentives to create connectivity networks. The growth in the DePIN sector, as seen through increased funding rounds and project ambitions, suggests a maturing industry with strong fundamentals and diverse applications. **Unique Resilience of DePIN Projects** Alvaro Gracia, a partner at Borderless Capital, highlighted the resilience of DePIN projects in bear markets, noting that their value is derived from sources outside the crypto sector. Projects like Helium and GEODNET exemplify this resilience, with revenue streams that are independent of crypto market fluctuations. Gracia emphasized the tokenomics design of DePIN projects, which enables revenue transfer to token value through mechanisms like buy-backs. This unique feature, coupled with the sector's ability to maintain fundamentals during market downturns, positions DePIN projects as promising investments.

Borderless Capital, a leading Web3 investment manager, has announced the launch of its third DePIN-focused fund, a $100 million fund dedicated to accelerating the growth and development of Decentralized Physical Infrastructure Networks (DePIN). The fund is backed by prominent investors like peaq, Solana Foundation, Jump Crypto, IoTeX, GSR, and others. DePIN is revolutionizing the construction and maintenance of physical infrastructure by leveraging blockchain technology and token incentives. This decentralized approach allows for the creation of various applications, such as connectivity networks and GPU clusters, more efficiently and cost-effectively than traditional Web 2.0 models. Notably, the Helium Network and GEODNET showcase the rapid growth potential of DePIN in deploying IoT antennas and RTK networks on a large scale. Borderless Capital's Partner, Álvaro Gracia, expressed confidence in DePIN's transformative potential within the Web3 space, emphasizing its role in setting global standards for deploying physical infrastructure and generating passive income while enhancing user accessibility and reducing costs.

Wingbits Partners with GEODNET Foundation to Develop Professional-Grade Flight Tracking Nodes for Secure ADS-B Infrastructure. The partnership aims to qualify new nodes for reliable ADS-B and RemoteID tracking data, offering secure location capabilities and triple-band GNSS signals. Wingbits plans to launch the nodes on October 1st, 2024, with a goal of expanding the network to over 10,000 stations by 2025.