At a Glance:
- How to Geoclaim an Area
- Geoclaim Rewards
- How long does a Geoclaimed Area remain mine?
- What does everything on the Geoclaim screen mean?
To Geoclaim an area, simply tap on the circular button with a purple flag on it, then tap the green +5 COIN button.
Keep in mind this feature needs to be unlocked by Geomining in the COIN app if you are a brand-new user. This will remove the amount mentioned from your total COIN collected and apply it to the Geoclaim, making you eligible for receiving Geomining rewards collected in the area.
You can continue to add additional COIN to the Geoclaim to own a higher percentage of the area if there are other owners. This will increase the chance of you being selected for rewards per each Geomine that occurs in the Geoclaim by other users.
Note: you must be physically in the area that you wish to Geoclaim in order to buy in, but you will still receive rewards for all your Geoclaimed areas whether you are in them or not.
COIN App users can Geoclaim up to a 25x25 mile tile by spending COIN.
When you Geoclaim a tile, you become an owner of the tile for the remainder of the campaign (Currently UTC Monday to UTC Sunday). Anyone who Geomines in your area will give you a chance (based on your ownership percentage) to collect 10% of Geomining rewards per each Geomine. You will see this 10% collection below the purple flag on the home screen. Please keep in mind that you are not collecting an additional 10% from your own Geomining, only other users.
How to Geoclaim an Area
What does all of this mean? Check out this link here
Tap on the Purple Flag icon to get started. You will be brought to the Geoclaim Screen of the area you are currently in.
To Geoclaim this tile, tap the green +5 COIN button in the bottom right corner. This will take 5 COIN from your total in the app and give you a percentage of the area. Note: The COIN you spend on Geoclaiming will not be refunded to your total.
After spending 5 COIN, you'll be an official Geoclaim owner of this area! You can see your rank where you stand in the purple rank section, as well as an ownership percentage of this Geoclaim. This shows how likely you are to be selected to earn 10% of what is Geomined in this area. You can increase this percentage by spending additional COIN, but keep in mind this is a game of balance between how much is spent, and how much you earn in return. You can currently Geoclaim up to 25 areas per user.
The number in the bottom right of the map on the Geoclaim screen is not the total amount of COIN that is invested in the area, but rather the total amount of rewards that have been Geomined in the area. See How to Read the Geoclaim screen for more information.
Batch Geoclaiming
Premium users are now able to batch Geoclaim for any valid amount at once rather than having to repeatedly add more.
Geoclaim Rewards
When another user is Geomining in your area, you can be selected to earn 10% of their Geomining rewards per each Geomine that occurs in your Geoclaim.
If there are multiple Owners of one single Geoclaimed Area, each 10% of rewards will be distributed to one of the Owners based on the percentage of ownership.
- A sole Owner with 100% ownership of a Geoclaimed Area will be selected to receive 10% of Geomining rewards per each Geomine.
- An Owner with 50% ownership of a Geoclaimed Area has a 50% chance to be selected to receive 10% of Geomining rewards per each Geomine.
- An Owner with 25% ownership has a 25% chance to be selected to receive 10% of Geomining rewards per each Geomine.
The percentage of what you own in a Geoclaimed Area is dependent on how much COIN you have invested in the Area in relation to the total amount invested in the area. You can see how much COIN has been earned by all of the Owners of an area to the right of the number of current owners.
COIN Plus/Pro/Master subscribers will NOT give away 10% of their mining rewards to the Geoclaim owner of a Geoclaimed area. This 10% will be paid out by the system, as well as any COIN Pro subscriber will earn double the original 10% from their Geoclaimed area, this is also paid out by the system. This is known as the Geoclaim Shield.
The total of rewards you earned from Geoclaiming an Area will be Geodropped to you at the end of the campaign period.
You do not have to be in the same area you Geoclaimed in order to receive its rewards.
NOTE: Geoclaim Rewards can only be earned on Geomines that are at least 0.1 COIN. For example, this means if you are Geomining without a SentinelX and Geomine 0.01 COIN (0.001 COIN in some countries), there will be no Geoclaim Reward on that Geomine.
How long does a Geoclaimed Area remain mine?
Geoclaims run in campaigns. These campaigns will last from UTC Monday to Sunday each week. Once Monday arrives, any user can be the first to reclaim the area.
A user is only able to Geoclaim the area they are physically standing in.
You can view your history of Geoclaiming, Geodropping, and Geomining here: my.coinapp.co