dammven is please to inform it has successfully bootstrapped and launched onocoy.
onocoy‘s mission is to deliver an affordable correction service to the mass market on a global scale according to the needs of its stakeholders using web3 technology. For this, onocoy builds a community-powered dense network of GNSS reference stations (“GNSS miners”) that provides high quality RTK corrections, which are validated by onocoy and relayed to users. Rewards to miners are linked to the data quality and availability, incentivizing miners to strive for highest quality and availability.
Users can sign up, add data credits to their wallets, and register their devices online for onocoy‘s services. Devices can stream data as long as there is credits left in the wallet. The fully automated setup is efficient, minimizes overhead and as a result lowers the overall transaction costs. And it ensures unrestricted access to onocoy‘s GNSS service.
Each stakeholder has shared network ownership and voice in how onocoy functions, which ensures full focus on user and marke needs. Governance is done using Web3 methods, making it easy to welcome a large base of stakeholders and building a consensus among them efficiently.