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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:

  1. 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.
  2. 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.

YearYear StartHNT at Year StartTarget HNT Emission
1August 1st, 2019060,000,000
2August 1st, 202060,000,00060,000,000
3August 1st, 2021120,000,00030,000,000
4August 1st, 2022150,000,00030,000,000
5August 1st, 2023180,000,00015,000,000
6August 1st, 2024195,000,00015,000,000
7August 1st, 2025210,000,0007,500,000
8August 1st, 2026217,500,0007,500,000

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. The current value for Net Emissions is 1,643.83561643 HNT.

For example, if less than 1,643.83561643 HNT is burned for DC within an epoch, the full amount burned will be re-minted and distributed into the subDAOs Treasury for that epoch. However, if more than 1,643 HNT is burned for DC within a single epoch, any HNT burn for DC over 1,643.83561643 will be permanently burned and removed from the max supply, while 1,643.83561643 being re-minted and distributed to the subDAOs.

The Net Emissions cap can be verified on chain here

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.