HIP 91: Data-Driven Extension: Continuation of Reduced IOT Location Assertion Cost

• Author(s): @maxgold91, @bfgneil, @mawdegroot, Fizzy, @AndrewsMD
• Start Date: 2023-07-09
• Category: Economic
• Original HIP PR: #738
• Tracking Issue: #743
• Vote Requirements: veIOT Holders

Summary

This HIP proposes an extension of the reduced Hotspot location assertion fees on the network. Currently, the fees for IOT hotspots were halved as per HIP-69 since the Solana migration. However, this adjustment is set to expire on July 20th, 2023, UTC, after which the fee will increase back to $10 in Data Credits. This proposal suggests maintaining the reduced fee for an additional 6 months to incentivize hotspot relocation and gather more data on the impact of a $5 versus a $10 reassert fee.

Motivation

The key motivations behind this proposal are as follows:

• Facilitating better network coverage and decentralization by reducing the cost for hosts to relocate their hotspots.
• Ensuring a longer-term commitment from hotspot owners by establishing a minimum fee that aligns with the network's expectations for hotspot relocation.
• Gathering additional data before permanently implementing this change.
• Due to issues with the migration to Solana, more time is needed to collect data on reassert transactions, which was supposed to be done after the passage of HIP-69.

Rendered View

https://github.com/helium/HIP/blob/main/0091-data-driven-extension-reduced-iot-assertion-cost.md