The Helium Network Token
The Helium Network Token (HNT) is the native cryptocurrency and protocol token of the Helium Network.
The original Helium blockchain produced the first HNT on July 29th, 2019, on block 93. There was no pre-mine of HNT before the launch of the Network. The Helium network migrated to the Solana Blockchain on April 18, 2023.
The mint address for HNT is hntyVP6YFm1Hg25TN9WGLqM12b8TQmcknKrdu1oxWux on
the Solana blockchain.
Navigate to https://explorer.helium.com/stats for up-to-date information on Network tokens.
HNT Usage
HNT serves the needs of the two primary parties in the Helium Ecosystem:
- Hotspot Hosts and Operators. Hosts are rewarded in network tokens like IOT or MOBILE while deploying and maintaining network coverage. These network tokens are redeemable for HNT.
- Enterprises and Developers use the Helium Network to connect devices and build IoT applications. Data Credits, which are a $USD-pegged utility token derived from HNT, are used to pay transaction fees for wireless data transmissions on the Network.
HNT Token Economic Concepts
The Network uses three token economic concepts to ensure HNT supply is both plentiful for usage needs and relatively scarce, with a known maximum.
Max Supply
The Network targeted the distribution of 5,000,000 HNT per month at launch. Following the community approval of HIP-20, the Network uses a two-year halving schedule, resulting in a maximum HNT supply of 223,000,000 HNT.
| Year | Year Start | HNT at Year Start | Target HNT Emission |
|---|---|---|---|
| 1 | August 1st, 2019 | 0 | 60,000,000 |
| 2 | August 1st, 2020 | 60,000,000 | 60,000,000 |
| 3 | August 1st, 2021 | 120,000,000 | 30,000,000 |
| 4 | August 1st, 2022 | 150,000,000 | 30,000,000 |
| 5 | August 1st, 2023 | 180,000,000 | 15,000,000 |
| 6 | August 1st, 2024 | 195,000,000 | 15,000,000 |
| 7 | August 1st, 2025 | 210,000,000 | 7,500,000 |
| 8 | August 1st, 2026 | 217,500,000 | 7,500,000 |
The full token emission schedule can be viewed in the HNT section of this document: Token Emissions as of Solana Migration.
Burn and Mint Economics
Data Credits (DC) are a $USD-pegged utility token derived from HNT and is used to pay fees on the Helium Network. DC is only produced by burning HNT. This HNT to DC relationship is based on a design commonly called a burn and mint equilibrium and intends to allow for the supply of HNT to respond to network usage trends.
Net Emissions
Net Emissions give the protocol enough HNT for rewards in perpetuity.
Net Emissions enable the Network to monitor the number of HNT burned for DC in a given epoch and add that to the number of HNT to mint that epoch.
For example, if 10 HNT burn for DC in an epoch, the system would mint 10 additional HNT than were expected in that given epoch.
A cap on the number of HNT minted via Net Emissions per epoch ensures the desired deflationary effect of Burn and Mint and the resulting reduction of supply. Because HNT produced via Net Emissions do not add to the total outstanding, they do not violate max supply.
Review the complete Net Emissions discussion in the HIP for more information.