Helium Mobile


4/27/20241 min read

What is Helium Mobile?

Helium Mobile is a decentralized 5G operator that uses the #Mobile token to incentivize individuals to deploy and operate 5G mobile network hardware. This creates a decentralized wireless network (DeWi).

$MOBILE is the governance token of Helium's subDAO, aiming for decentralized governance.

Helium Mobile ingeniously uses token economics to encourage individuals to purchase and deploy hotspot devices both indoors and outdoors, effectively replacing large base stations with numerous small hotspots. This approach significantly reduces construction costs, widens network coverage, and lowers telecom fees.

When Helium Mobile users are out of DeWi coverage, the operator automatically switches to T-Mobile's network, combining Helium's own 5G network with traditional U.S. mobile operators.

Mining rewards are uniquely based on actual usage: Only real user connections and data transfers at hotspots earn rewards, preventing idle mining. Helium Mobile also encourages mobile plan subscribers to share their location for better hotspot placement, adjusting token rewards based on hotspot density relative to user distribution.

In April 2022, Helium raised $200 million led by a16z and Tiger Global, with telecom giants like Deutsche Telekom and Nokia involved. The company, renamed to Nova Labs, plans to replicate its LoRaWAN network success in the 5G domain. Following a migration to the Solana blockchain in April 2023 to meet performance demands, Helium launched its MOBILE token in July 2022 to incentivize 5G hotspot deployment.

In December 2023, after a successful $5 unlimited pilot in Miami, MOBILE token's value surged as Helium Mobile announced a $20 monthly unlimited mobile data plan in the U.S., leading to a 24-fold increase in its value.

By February 2024, Helium Mobile not only entered mainstream crypto exchanges with Coinbase but also showcased significant growth, with over 50,000 users and an expanding network of over 12,398 active nodes.

Helium Mobile, leveraging the Solana blockchain and the DePIN narrative, is poised for further growth in the Web3 space, integrating token economics with real-world telecommunications seamlessly.

(Content sourced online, contact for removal if copyrighted)

Don't miss any chances, Join Depi for more DePIN Info!