First, a sincere thank you to all the Helium community builders and contributors who were so integral to this monumental effort during the last year; this upgrade isn’t possible without such a motivated and dedicated community. Although we’ve had months of productive Working Groups, Community Calls, and AMAs, we wanted to provide a final refresher on what to expect during today’s transition period.
Q. When does the migration begin?
The migration period starts today, April 18th @ 9am PT and will conclude 24 hours later.
Q. What happens to the blockchain during the upgrade?
During this period, the Helium blockchain will halt, the chain will be snapshotted, existing HNT and MOBILE will be mapped to Solana and Hotspots will be minted as NFTs.
We’ll post another announcement once the upgrade is complete and share updates on Discord and Twitter as available.
Q. What happens if I lose my Hotspot connectivity during migration?
Your Hotspot and LoRaWAN devices will continue to operate throughout the migration window. Actual transactions will be possible and viewable again on the app once the migration is complete.
Q. What changes can I expect with my HNT after the migration?
The current native token, HNT, will no longer be mined by LoRaWAN Hotspots, which will instead mine IOT, which serves as both the incentive and governance token for the Helium IoT network. HNT will remain as the exclusive token to use the Network. IOT tokens can be redeemed for HNT in the Wallet App.
Q. What happens to my Hotspot?
Your Hotspot and previously mined HNT rewards still belong to you. The major change will be for those using Hotspots on the Helium IoT network — for those providing coverage and data — will earn IOT tokens instead of HNT. Hotspots will each be represented by an NFT on Solana — creating almost 1 million new Solana NFTs.
HNT will be the primary token for those who want to use the network and onboard devices to it, but for those running hotspots on LoRaWAN, IOT tokens will be mined instead, which can then be redeemed for HNT.
Q. What will happen with my HNT balance?
Your HNT balance will migrate to the Solana blockchain. All Helium tokens (HNT, IOT, MOBILE) will become Solana native tokens, or SPLs, after the migration. SPL is the token standard for Solana network tokens, analogous to ERC-20 tokens on the Ethereum network.
You will have the exact same balance as before and there will be no change to the HNT ticker on exchanges, wallets, or custodians.
Q. Will I be able to sell Helium tokens directly in Exchanges?
These same Exchanges may elect to support the SubDAO Helium Tokens (MOBILE & IOT). Listings are business decisions made by individual exchanges. The Helium Foundation only provides technical support to outside providers.
Multiple DeFi platforms in the Solana ecosystem have expressed an interest in supporting all Helium tokens post-migration and have engaged the Foundation for technical support; we expect formal announcements from those platforms soon, which we’ll broadcast to the Helium community.
Q. What happens to my devices running on the network?
Your devices will continue to work and transmit data during the 24-hour transition period. Because Proof-of-Coverage and Data Transfer have already migrated to Oracles, there is no interruption to devices on the Helium Network; token balances will settle upon completion of the transition period.
Q. What’s the best way to connect with someone about a specific question?
The Foundation team, community moderators, and other active contributors in the Helium ecosystem are eager to help in the public Helium Discord. Visit the #solana-migration-questions channel for assistance and the most up-to-date conversations.