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Funding A Maker Account

This page has not been fully updated to represent the latest state of the Helium Network following the migration to Solana on April 18, 2023.

Hotspot Makers must fund Maker wallets with enough Data Credits ("DC") and SOL to cover the onboarding fees for all Hotspots they supply to customers.

Funding a Maker Account​

Funding a Maker wallet with Data Credits from HNT tokens is now performed in the Helium Wallet App. The transaction costs for onboarding and location assertion are paid in SOL to the Solana blockchain.

A current public view on the funding status of Maker wallets is available at:

https://dune.com/helium-foundation/helium-makers

See "Data Credits By Hotspot ManufacturerH. Helium Maker DC Balances"

SOL Fees​

These tokens are paid to the Solana blockchain.

IOT Hotspot Transaction FeeMOBILE Hotspot Transaction Fee
Hotspot NFT creation0.00189616 SOL0.00189616 SOL
IOT Hotspot onboarding0.00175696 SOL0.00175696 SOL
MOBILE Hotspot onboarding (1)0.00168736 SOL
Total0.00365312 SOL0.00534048 SOL

Data Credit Fees​

These tokens are "burned".

IOT Hotspot FeeMOBILE Hotspot Fee(1)
Onboarding Fee4,000,000 DC ($40 USD)4,000,000 DC ($40 USD)
First Location Assertion Fee1,000,000 DC ($10 USD)1,000,000 DC ($10 USD)
Total5,000,000 DC5,000,000 DC

Funding Maker Wallets with SOL​

Funding a Maker wallet with SOL is performed the same way as sending tokens to any crypto wallet. Send from an exchange, another wallet, or swap from another cryptocurrency within the Helium Wallet using the inbuilt browser and a swap aggregator such as Jupiter.

Funding Maker Wallets with Data Credits​

Funding a wallet with Data Credits requires HNT, as Data Credits can only be obtained using HNT. The exchange rate for DC is $1 worth of HNT = 100,000 DC.

  • If HNT is $2 then 0.5 HNT = 100,000 DC
  • If HNT is $10 then 0.1 HNT = 100,000 DC

The USD/HNT exchange rate within the Helium Wallet App is used for the conversion and appears in the Helium Wallet app before committing the transaction.

HNT to DC swaps are irreversible

Data Credits cannot be refunded, exchanged for other tokens, or transferred between wallets.

Always double-check the addresses before performing essential operations.

Swap HNT to DC within a Maker Wallet:​

  1. Select the Maker Wallet in the Helium Wallet app.
  2. Tap the $ icon on the bottom tab bar.
  3. Tap the Swap icon in the middle of the screen.
  4. Select HNT in the top drop-down and enter an amount of HNT to swap.
  5. The lower drop-down will be filled with the resulting DC amount.
  6. Tap the Swap Tokens button and confirm the swap transaction.
  7. HNT is burned for DC within the same Wallet.

The new DC balance amount can be verified in the app tokens list on the $ tab within the Helium Wallet app.

Swap to Fund a Different Wallet​

The Helium Wallet app can be used to swap HNT from one wallet to DC in a Maker wallet.

This method requires that the sending Wallet is already funded with HNT to swap and SOL for transaction fees.

Firstly add the Maker Wallet address to the Address Book as a contact. This is the destination wallet that you will send the DC to:

  1. Tap the Address Book icon in the top right corner of the Helium Wallet app.
  2. Add new contact with the Maker's Solana wallet address.

Swap HNT to DC to send to a Maker Wallet:​

  1. Select any Wallet in the Helium Wallet app.
  2. Tap the $ icon on the bottom tab bar.
  3. Tap the Swap icon in the middle of the screen.
  4. Select HNT in the top drop-down and enter an amount of HNT to swap.
  5. The lower drop-down will be filled with the resulting DC amount.
  6. Tap the grey Add Recipient + text to enter the receiving Solana wallet address. This is the wallet address to send the DC to.
  7. Tap the ... to the right of Solana Address and select the contact for the Maker Wallet.
  8. Tap the Swap Tokens button and confirm the swap transaction.
  9. HNT is burned from the current wallet to DC in the recipient Maker Wallet.

The new DC balance amount in the recipient Maker Wallet can be verified by looking at the Helium Data Credit token balance of the maker wallet on https://explorer.solana.com/

Footnotes​

  1. Onboarding a MOBILE Hotspot is an additional SOL fee as all current MOBILE Hotspots are also IOT Hotspots. A MOBILE-only Hotspot would not be required to pay the IOT transaction fee. The Maker App can be configured to do both, either or just one of these network onboards. ↩ ↩2