Helium Mobile is a wireless phone service built on the decentralized and encryption-powered Helium Network.
This innovative service provides cellular connectivity through the decentralized Helium network and is supported by T-Mobile's extensive 5G infrastructure. Traditional mobile networks are often controlled by a few large companies, which limits the coverage and quality of service. Helium Mobile uses hotspots deployed by community members to provide dynamic network coverage, aiming to create a wider and more reliable network.
Furthermore, in the traditional model, users are merely consumers of the service. Helium Mobile allows users to actively participate in network construction by deploying devices and verifying network coverage, and receive MOBILE tokens as rewards through this activity, essentially turning users into co-owners and beneficiaries of the network. In other words, subscribers have a unique opportunity to earn tokens when using the service and providing services to local communities through hotspots and radio antennas.
working principle
Helium Mobile operates on a unique peer-to-peer network model that does not rely on traditional cell towers, but rather on a distributed network of hotspots deployed by community members to provide services. These hotspots provide coverage and generate tokens, namely HNT, which can be converted into MOBILE tokens.
Here’s how it works in detail:
Community hotspot deployment: Ordinary citizens like you and me can deploy Helium hotspots in their homes, workplaces, or other places in the community. These hotspots can provide wireless network coverage to the surrounding areas.
Blockchain technology application: Helium Mobile is based on a decentralized encrypted network, the Helium Network. This network allows anyone to develop and operate their own mobile network using a token incentive mechanism. The entire system runs on the Solana blockchain, ensuring the security and efficiency of the network.
Generate and use tokens: Deployed hotspots not only provide network coverage, but also generate the Helium network's native token, HNT. Users can convert HNT tokens into Mobile tokens to pay for mobile phone services or participate in the governance of the network.
Network Integration with T-Mobile: Helium Mobile leverages the 5G infrastructure developed by T-Mobile. Users’ devices can seamlessly switch between the Helium network and T-Mobile’s extensive 5G coverage, ensuring service continuity and signal stability.
Energy efficiency and token rewards: LoRaWAN hotspots in the Helium network excel in energy efficiency, consuming only about 5W of power. In addition, as a hotspot provider, users can not only earn tokens by providing network coverage, but also receive additional rewards by participating in network governance and data sharing activities.
Even better, you don’t have to create a hotspot to enjoy the benefits of Helium Mobile. You simply sign up as a customer of the service and then connect to the nearest hotspot. Your phone will effortlessly move between the Helium network and T-Mobile’s vast 5G coverage, so you’ll never lose signal.
This model encourages community participation and innovation, while increasing the resilience of the network through decentralization and reducing reliance on a single service provider, potentially reducing costs and improving service quality.
Core Mechanics
The core mechanics of Helium Mobile involve several key components that together support its decentralized wireless communications service.
The following is a detailed description of these mechanisms:
Community-driven network deployment
Hotspot deployment: The Helium network relies on hotspots deployed by individuals and businesses to provide wireless coverage. These hotspots are purchased and deployed by community members themselves to provide wireless network coverage on their properties. Deployers are rewarded with Helium Network Tokens (HNT) for providing network services.
Blockchain and Tokenized Incentives
Blockchain-based operations: Helium Mobile runs on the blockchain and uses smart contracts to automate network operations and user interactions, ensuring transparency and security of transactions and operations.
Token Incentives: Network participants (hotspot operators, users, etc.) receive economic incentives through Helium’s tokens (HNT and Mobile). HNT is mainly used to reward network coverage providers, while Mobile tokens are used to pay for network services and participate in network governance.
Decentralized network management
User governance: Helium Mobile advocates for network governance decisions to be made by its token holders, including rule changes, fee structure adjustments, etc. This decentralized governance model improves the adaptability of the network and user participation.
Data sharing and transparency: Network operation data is open and transparent, and users can access detailed information about network performance and coverage, increasing trust and network efficiency.
Intelligent network access and switching
Seamless Network Switching: Helium Mobile devices are able to seamlessly switch between the Helium network and partner networks, such as T-Mobile’s 5G network. This ensures that users can maintain good connectivity even in areas where Helium hotspot coverage is insufficient.
Dynamic resource allocation: The network can intelligently adjust resource allocation based on real-time demand and resource availability to optimize network performance and user experience.
Energy efficiency and eco-friendly
Low-power hotspot: Designed for low-power IoT device network coverage, Helium’s LoRaWAN hotspot operates on very low power (approximately 5W), helping to reduce operating costs and environmental impact.
These core mechanisms of Helium Mobile combine advanced blockchain technology, community-driven participation, intelligent network management, and decentralized governance to support a powerful and innovative wireless network service platform. These mechanisms not only improve network efficiency and coverage, but also provide users with more economical and flexible mobile communication options.
Mobile Token
use
Pay for network services: Users can use MOBILE tokens to pay for their monthly wireless service bills, including data plans, calls, and text messages.
Network Governance: MOBILE token holders may participate in network governance by voting on network policies, upgrades, and other decisions.
Incentive mechanism: Providing network coverage as a hotspot operator or participating in network activities (such as data transmission) as a user can receive MOBILE tokens as rewards.
Staking Rewards: Users can stake their MOBILE tokens to support the security and operation of the network and may receive staking rewards for doing so.
Data Sharing: Users can earn MOBILE tokens by voluntarily sharing network coverage data, encouraging community participation and network transparency.
method of obtaining
Users can earn Mobile Tokens by participating in network construction (such as providing network coverage), making transactions, or purchasing them through the Marketplace.
MOBILE tokens are currently listed on the following cryptocurrency exchanges:
Coinbase Exchange: The most popular trading pair is MOBILE/USD.
Backpack Exchange
Crypto.com Exchange
CoinMarketCap: Although this is not an exchange, it provides token price tracking and may list which exchanges support MOBILE tokens.
Bitget: The world’s leading cryptocurrency exchange and Web3 company announced the listing of Helium’s 5G network governance token MOBILE.
Supply
The total supply of Mobile tokens is 82.26B MOBILE, with a maximum supply of 200 billion MOBILE. The current circulating supply is 82.26B MOBILE, accounting for 41.13% of the total supply.
50 billion MOBILE tokens were pre-mined at the launch of the Mobile Network and distributed to a network operations fund managed by the Helium Foundation. A portion of this allocation has been allocated to Mobile Network hotspots throughout the Genesis period.
The first year of MOBILE will start on August 1, 2022, and the first token will be minted on August 12, 2022. It will be halved every two years, and will be in a deflationary state overall.
MOBILE's emission plan was proposed in HIP53. Starting from February 1, 2023, 5G hotspot owners will receive 6.6B MOBILE tokens per month, incentivizing subscribers to register, share data, or demonstrate various other types of valuable behaviors to promote network development. Compared with the Genesis period, the rewards will more than double, but the PoC algorithm remains unchanged. It was subsequently updated through HIP-75, confirmed by HIP-77, and officially updated in HIP-79 on March 19, 2023.
Mining process
Purchase and set up a 5G hotspot: Requires purchase of a compatible 5G hotspot device and a CBRS (Citizens Broadband Radio Service) small cell radio. Device needs to be connected to the internet and properly set up.
Register with SAS: 5G hotspots must be online and registered with the Spectrum Access System (SAS). SAS is a system maintained by the Federal Communications Commission (FCC) that ensures the efficient use of wireless spectrum resources.
Hotspot deployment: Hotspot devices are deployed in appropriate locations to provide 5G network coverage. Proper placement of hotspots is critical to maximizing coverage and tapping potential.
Participation in the network: Once a hotspot is online and registered with the SAS, it will begin providing 5G coverage to the Helium network. As designed by the network, the hotspot will automatically perform the required tasks to mine MOBILE tokens.
Mining and Earning Tokens: Hotspots mine MOBILE tokens by participating in specific mechanisms of the Helium network, such as Proof-of-Coverage. Depending on network activity, you may also receive other forms of rewards.
Distribution of Tokens
Data Hotspot Operators: 40% of total tokens as a reward for running a hotspot that provides data coverage.
Mappers: Participants who contribute map data for network coverage, accounting for 20%.
Service providers: Entities that provide various services to the network, accounting for 10%.
veHNT holders: users who stake their HNT tokens and receive veHNT (vested Helium Network Tokens), accounting for 6%.
Oracles: Systems or entities that provide external data (such as real-world information) to the blockchain, accounting for 4%.
Proof of Coverage: Participants who help verify network coverage, accounting for 20%.
Token Performance
The current price of MOBILE token is $0.002019, with a price drop of 31.42% in the past 7 days.
The market cap is $166.06M and it ranks 303rd.
The 24-hour trading volume is around $4.98M, up 7.86% from the previous level, indicating an increase in trading activity despite the falling price.
Track Analysis
The Helium Mobile project belongs to the decentralized communication network track, which combines blockchain technology and wireless communication technology to provide decentralized network services and enhance the privacy and control of network users.
Projects similar to Helium Mobile include DENT Wireless (a global mobile data exchange platform. It allows users to buy, sell or donate data traffic through the DENT application); Althea (a decentralized Internet service provider that enables users to provide and purchase bandwidth services from each other. This project focuses on improving the availability of network services and reducing costs); ThreeFold Network (a decentralized cloud service market where users can purchase storage and computing resources), etc.
Helium Mobile currently has more than 50,000 users. Based on annual estimates, the total number of users for the entire year may reach 530,000
Users who participate in Mapping can receive 2,000 MOBILE tokens per day. At the current price, the cost of $20 can be recovered in 3 days.
Team/Partners/Financing
team
The Helium Mobile project was initiated by Helium Inc., a company co-founded by Amir Haleem, Sean Carey, and Shawn Fanning. Here is a brief background of them:
Amir Haleem: Amir Haleem has extensive experience in game development and e-sports before joining Helium. He has held senior positions in several successful game projects and has accumulated expertise in online games and virtual reality.
Sean Carey: Sean Carey's background is in technology and product development. Before joining Helium, he had extensive experience in technical leadership and product management, especially in software development.
Shawn Fanning: Shawn Fanning is a well-known Internet entrepreneur, most famous for creating Napster, a revolutionary P2P music sharing service. He has a deep background in network technology and innovation and has been involved in many technology startups.
Partner
Hardware vendors: Hardware manufacturers that provide Helium hotspot devices, such as Rakwireless, Bobcat Miner, and Nebra.
Network operators: Partnering mobile network operators. For example, in the United States, Helium has signed a partnership agreement with T-Mobile to support the deployment of 5G services.
Technology Platform and Services: Such as Solana blockchain. Helium chose to issue tokens on the Solana blockchain to take advantage of its high throughput and low transaction fees.
Financing
Helium Mobile has raised multiple rounds of funding during its development, the most notable of which is the most recent round:
Financing round: Series D
Funding amount: $200M
Valuation: $1.2B
Major investors: Tiger Global and FTX Ventures
In this funding round, Helium Mobile (Nova Labs) has received significant financial support, further strengthening its market position as a decentralized communication network. The funds will be used to expand its business, including promoting its blockchain-based 5G network services.
Investor's Background:
Tiger Global: This is an internationally renowned investment firm involved in many successful technology startups and growth companies.
FTX Ventures: This is the venture capital arm of cryptocurrency trading platform FTX, focusing on investments in the blockchain and digital asset sectors.
The support of these core investment institutions not only provides Helium Mobile with funds, but also brings rich industry experience and resources, which will help promote its technology and expand its market.
Project pros and cons
Advantage
Decentralized network structure
Scalability: Helium Mobile utilizes a decentralized approach to build its communications network, enabling the network to scale quickly without huge capital expenditures.
Censorship resistance: Decentralized networks are difficult to control or shut down by a single entity, increasing the stability and reliability of the network.
User incentive mechanism
Token Rewards: Through the Helium network’s token reward mechanism, users are incentivized to participate in network construction, such as deploying hotspots and transmitting data.
Sharing economy model: Users can earn tokens by sharing their internet connection, which drives community participation and natural growth of the network.
Technological innovation
Use of blockchain technology: Helium Mobile uses blockchain technology to manage network operations and token economics, ensuring transparency and security.
Support for multiple network standards: The project supports multiple wireless standards such as LoRaWAN and 5G, covering a wide range of use cases and devices.
Powerful partnerships
Partnership with T-Mobile: Partnership with a large network operator like T-Mobile enables Helium Mobile to provide more reliable service across the country.
Diverse ecosystem collaboration: Collaboration with hardware vendors and the developer community drives the development of innovative applications.
Disadvantages
Internet Dependence
Device dependency: Users need to purchase and set up specific hardware devices to join the network, which may limit the speed and coverage of the project.
Network density issues: The efficiency of decentralized networks is highly dependent on the geographic distribution of participants. Network services may be unstable in sparsely populated or low-participation areas.
Technical complexity and user experience
User Interface and Experience: While Helium strives to simplify the user onboarding process, managing and running a node still requires a certain amount of technical knowledge, which may pose a challenge to non-technical users.
Maintenance and support issues: As a decentralized network, users may find it difficult to get timely and effective help when they need technical support or encounter equipment problems.
Regulatory and compliance risks
Uncertain legal environment: The legal environment in the blockchain and cryptocurrency space is constantly changing, which may have an impact on the operation and expansion of projects.
Privacy and security issues: While blockchain offers enhanced security, the open nature of decentralized networks can also increase the risk of data breaches or cyberattacks.
market competition
Competing with traditional and emerging competitors: Helium Mobile needs to compete with traditional large telecom operators as well as other emerging blockchain communication projects that may have greater resources or more mature technologies.
Token Volatility
Market Volatility: As a cryptocurrency-related project, Helium Mobile’s economic model is subject to market sentiment and crypto market volatility, which may lead to instability in funding and token value.
Scalability of technology
Scaling challenges: Although blockchain technology provides the possibility for network scalability, in actual operation, as the number of network users increases, how to maintain network performance and process large amounts of data and transactions remains a major challenge.
Future development analysis
Helium Mobile's future prospects look quite optimistic. The following aspects will be key factors that may greatly affect its long-term success and market influence:
Price competitiveness
The $20 unlimited talk and data plan offered by Helium Mobile has a significant price advantage compared to the average monthly communication cost of $157 in the U.S. market. This low-cost strategy will not only attract consumers, but may also force other operators to lower their prices, thus reshaping the entire industry's pricing structure.
Token Economics and User Incentives
Through the token economics model, Helium Mobile encourages users to participate in the construction and maintenance of the network, which not only helps to expand the network coverage, but also increases user stickiness. Users can earn tokens by providing network services or contributing data, and this model may continue to attract more users to participate.
Partnerships
Partnerships with traditional telecom giants such as T-Mobile provide network reliability and coverage, which is key to Helium Mobile's rapid network expansion and improved user experience. In addition, Helium Mobile also cooperates with Telefónica in Mexico, which shows its potential to expand into international markets.
Technology and infrastructure
Helium Mobile's success depends in part on the stability and efficiency of its technology, including how it handles large-scale network activity and data. The project's technical foundation and innovation capabilities will be key to supporting its long-term development.
Market and regulatory environment
Market acceptance and regulatory environment will significantly affect the development of Helium Mobile. Projects need to effectively market and educate users to increase market acceptance while complying with local regulations.
Integration of DePIN and Solana ecosystem
Helium Mobile has migrated to the Solana network and has become part of its DePIN ecosystem. Solana's high performance and low cost characteristics may further promote Helium Mobile's technological development and market expansion.
Adjustment of mining rules
Helium Mobile has adjusted the mining rules to ensure that rewards are closely related to the actual network services provided, which may improve the quality of the network and fairness to users, thereby increasing the overall network value.
Market growth and expansion
Helium Mobile’s market strategy and expansion plans will be key to future success. How the project attracts new users while maintaining its current user base, and how it expands into new geographic regions, will directly impact its market share and revenue growth.
Taken together, Helium Mobile has the potential to create a significant impact in the communications industry through its unique token economy and partnerships. However, the project's success will depend on its ability to continue to innovate, expand market acceptance and overcome technical and regulatory challenges. In the ongoing market and technological development, Helium Mobile needs to constantly adjust and optimize its strategies to adapt to the changing environment.
