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Network Parameters

The Geo Web core contracts contain numerous parameters that can be updated to adjust the dynamics of its partial common ownership system. The founding team has set the initial values, but as the network evolves and external circumstances change, these values can be adjusted via governance available and appropriate for the time:

  • Payment Token = ETHx
  • Ongoing Claim Payment = .001 ETHx per parcel
  • Minimum For Sale Price = .001 ETHx per parcel
  • Network Fee Rate = For Sale Price * 10% per year
  • Bid Rejection Penalty = Bid For Sale Price * 10%
  • Bid Response Window = 7 Days
  • Reclaim (Foreclosure) Auction Length = 14 Days
  • PCO Market Beneficiary Address = 0x5aD276439E3772FDb6696B6cB61401902D4e8b72
  • Fair Launch Start/End Time = Thursday, December 15th, 2022, 17:00 UTC to Saturday, January 14th, 2023, 17:00 UTC
  • Fair Launch Start/End Bid = 100 ETHx to .005 ETHx
  • Geo Web Grid Size
    • # of longitudinal lines = 2^23
    • # of latitudinal lines = 2^22

The Geo Web's approach to modularity and extensibility means that changes to the PCO market and core contracts can go beyond changes to the parameters above. Such changes are likely to be less frequent and held to a higher hurdle for adoption.