The Helium IOT Network Token
The IOT Token is the native cryptocurrency and protocol token of the LoRaWAN Hotspots. Its symbol is
IOT. At the time of launch on the Solana Blockchain, symbolizing the end of the migration to
Solana, there will be a premine of
IOT. All current LoRaWAN hotspots, that are active on the
network, and not on the denylist, will be rewarded as part of the IOT premine. You do not have to do
anything to recieve the premine. Have your hotspot on and Helium Wallet App migrated!
There is no IOT currently in circulation.
The IOT Treasury will be created upon the completed migration to the Solana blockchain. The Treasury is funded by activity within epochs. It is your right as a Token Holder to redeem IOT for HNT. This redemption will be determined by a redemption ratio that is set algorithmically by the Treasury swap contacts. This function is built into the structure of the subDAOs but other Market Makers may also support this function.
You can stake your IOT for a vote escrowed (veIOT) position in the subDAO that provides you governance and voting power.