HIP 138: Return to HNT

• Author: @ferebee, @JMF, @abhay
• Start Date: 2024-11-08
• Category: Economic, Technical, Governance
• Original HIP PR: #1119
• Tracking Issue: #1120
• Voting Requirements: veHNT Holders

Summary

If approved and implemented, this proposal would phase out the subnetwork tokens introduced through HIPs 51, 52, and 53 (IOT and MOBILE), and the network would return to rewarding participants directly in HNT. Additionally, HNT emissions allocated to HST holders will end, and instead will augment the HNT issued to active Hotspot owners and network builders via the current Utility Score, effectively increasing the HNT available to reward ecosystem participants by over 40%. Finally, unissued HNT (approximately 4.2 million) from the Helium L1 will be used both to gradually fund the MOBILE treasury, and to replace the MOBILE Operations Fund delegated to the Helium Foundation.

Moving to a single token simplifies the Helium ecosystem, making it more understandable for current and future network builders, and more accessible to the crypto community at large. Using HNT as the sole reward currency also corrects the imbalances created by the treasury system. Specifically, MOBILE network participants would see immediate increases in the value of their rewards, while IOT participants’ rewards would continue to be supported post-halvening as the network grows through ongoing community investment.

Overall, this proposal would increase rewards for current and future participants of all networks.

Rendered View

https://github.com/helium/HIP/blob/main/0138-return-to-hnt.md