Onocoy$ONO

What is this network?

Onocoy is a project that aims to provide a dense network of community-powered GNSS (Global Navigation Satellite System) reference stations. The network is based on Web 3.0 methods and distributed ledger technology, which allows for the creation of a dense distribution of GNSS reference stations that enable RTK (Real-Time Kinematics) positioning anywhere. The network is designed to provide outstanding positioning data quality suitable for mass market applications such as drones, micro-mobility, robotic lawnmowers, or autonomous vehicles.

How can I mine tokens?

To mine tokens on the Onocoy network, you need to operate a reference station. Miners, also known as reference station operators, and validators earn ONO tokens, which are the cryptocurrency of the Onocoy system. The ONO tokens are built on top of the Solana blockchain. As long as Onocoy is still in its beta release, miners and validators will earn BONO (beta ONO) tokens, which may be exchanged for ONOs as soon as the ONO token is deployed.

To receive rewards, you need to connect your wallet to Onocoy. After you have connected your station to the Onocoy network, your data stream will first go into the Data Validation process. It may take 24-36 hours to validate, as the validator performs initial tests on the data you are providing in order to determine the quality. As soon as your station is validated, you are ready to receive rewards. The rewards will come in the form of Ono Token.

How can I optimize my mining rewards?

Optimizing mining rewards in a network like Onocoy involves ensuring high data quality and availability. Rewards to the GNSS miners are linked to the data quality and availability, incentivizing miners to strive for the highest quality and availability. It's also important to note that the rewards come in with a 24-hour delay, as Onocoy recalculates your reward scale every day. This means that the incoming rewards are for the previous day's data.

How can I use the network?

Onocoy provides high-quality RTK corrections for ultra-accurate positioning by leveraging Web3 technology. It offers two types of services: Permanent and Nearest. The Permanent service provides permanent access to a specific reference station and is ideal for deformation monitoring, scientific applications, and correction service providers. The Nearest service provides access to the nearest reference station including handover and fallback and is ideal for agriculture, atmospheric maps, autonomous vehicles, construction, micro-mobility, mining, robots, robotic lawnmower, surveying, UAV, and vehicle navigation.

Who governs this network?

The Onocoy network is governed by an open governance system that takes into account the interests of all stakeholders in a transparent manner. The ONO tokens give access to the governance of the Onocoy association/DAO (Decentralized Autonomous Organization). The governance is done using Web3 methods, making it easy to welcome a large base of stakeholders and building a consensus among them efficiently.