KEY TAKEAWAYS
- Helium Network will transition to using HNT as the sole reward token across all networks starting January 2025, simplifying the ecosystem.
- Hotspot owners and Helium Mobile subscribers will earn rewards in HNT, potentially increasing the value proposition for deployers.
- MOBILE and IOT token holders can exchange their tokens for HNT, with swap rates to be finalized after emissions cease.
- The consolidation under HIP 138 aims to enhance HNT’s utility and reduce user confusion.
The Helium Network is set to undergo a significant transformation with the approval of HIP 138, which will see the return of HNT as the sole reward token across all networks. This change, announced here, aims to simplify the Helium ecosystem and enhance the utility of HNT.
Starting January 2025, emissions for MOBILE and IOT tokens will cease, and HNT will replace all rewards across network activities. This shift is designed to streamline operations and reduce confusion among users.
Impact on Different Stakeholders
For Hotspot owners, the transition means that IoT and Mobile Hotspots will stop earning IOT and MOBILE tokens, respectively, and will instead earn HNT. This change is expected to unify the reward system and potentially increase the value proposition for Hotspot deployers.
Helium Mobile subscribers will also see changes, with rewards for Discovery Mapping and referral programs being issued in HNT rather than MOBILE. Additionally, HNT will become the default token for bill payments, although paying with MOBILE will still be supported.
Token holders will experience different impacts based on their holdings. HNT holders will not see a direct impact but can expect streamlined governance participation in the future. MOBILE and IOT holders will have the option to exchange their tokens for HNT via the Helium Wallet or other decentralized applications like Jupiter.
Governance and Token Management
Governance and staking processes will remain unchanged initially, but community members are working on future iterations. Unclaimed IOT or MOBILE tokens will remain claimable, and holders can choose to convert them to HNT.
The swap rates for IOT and MOBILE tokens to HNT will not be finalized until emissions cease. Token holders are advised to stay informed and make swaps based on their individual needs and timing.
This consolidation under HIP 138, initiated by the Helium community and approved on November 22, 2024, aims to reduce confusion for users while increasing HNT’s utility. For more details, the full proposal can be accessed on GitHub.
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