The list of configurable parameters and current values used in the Geo Web land market that may be updated via governance.
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
- Minimum For Sale Price = .005 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 = TBA
- Fair Launch Start/End Time = TBA
- Fair Launch Start/End Bid = TBA
- 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.