GEO - ODIN tokenomics Update

1. Any 3rd party apps will be able to implement a GEO reward system within their network while using ODIN as a data exchange protocol.
2. When the ODIN DAO buys back Geo tokens from the market after data purchase transactions, 5% of the tokens purchased will be burned, and the rest locked within ODIN Treasury.
3. A deflationary rebase system mechanism for ODIN will be applied to incentivize trading and decrease the total supply. ODIN will have a deflationary elasticity supply; as transactions happen, a part of ODIN tokens used to pay the resulting fees will be burned out of existence. The other half of the transaction fees will be redistributed to all ODIN holders. Details will be announced soon.
4. Data collected by applications connected to ODIN will not belong to any single party and will be protected and used within the purposes agreed by DAO.
5. ODIN private token sale & the price details will be announced in the coming few days. There is no more Geo to ODIN swap available as we have recently burnt 65% of the GEO supply. All token holders who swapped GEO for ODIN in March 2021 will get ODIN tokens together with the Private sale token holders. Earlier, it was proposed that there was a 24 months lock period on ODIN tokens, but it has been removed to make ODIN tradable right away.
6. Following the private sale, ODIN will conduct an (Initial DEX offering) IDO to build liquidity for DEX.
7. GeoLock: With the launch of mainnet, Geocash, or any geo-connected apps will work on a DPOS (Delegated Proof of Stake). Each wallet will need to have a minimum balance of Geos (harvested or purchased) to be staked within the apps to be able to harvest rewards. The required amount of staked Geos will be reviewed and decided by ODIN DAO.

Technical requirements for running Odin node (both - validator & auditor): 

• 2 CPUs processor four GB RAM
• 200GB free memory space.
• These requirements are sufficient for the early stage of ODIN (before the end of 2021). With the growth of transaction volumes, these conditions may change. ( We will be informing the node runners in advance).
• 1 ODIN will be required to apply for running the node.

About GeoDB

GeoDB is a decentralized peer-to-peer big data-sharing ecosystem, which returns value to its creators, the users. GeoDB creates bridges between current isolated participants and aims to solve the existing inefficiencies of the huge big data industry.

Users receive GEO tokens in exchange for their anonymous data, which can later be exchanged to other crypto-currencies or, once we launch our full network, use it to acquire goods and services.

Currently, GeoDB is in the process of releasing all of its network apps; GeoCash currently has over 250k+ users & growing. To learn more, visit geodb.com.

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