Project Analysis: Helium Mobile, a New Era of Decentralized Communications

Author: Chain Teahouse

Helium Mobile has a unique position in the communications industry through its unique token economy and partnerships potential to create significant impact. However, the project's success will depend on its ability to continue to innovate, expand market acceptance and overcome technical and regulatory challenges.

Helium Mobile is a wireless phone service built on the decentralized and encryption-powered Helium network.

This innovative service delivers cellular connectivity over the decentralized Helium network and is supported by T-Mobile's extensive 5G infrastructure. Traditional mobile networks tend to be controlled by a few large companies, which limits the coverage and quality of service. Helium Mobile utilizes hotspots deployed by community members to provide dynamic network coverage, aiming to create a wider and more reliable network.

In addition, in the traditional model, users are only consumers of services. Helium Mobile allows users to actively participate in network construction by deploying equipment and verifying network coverage, and obtain MOBILE tokens as rewards through this activity, essentially turning users into co-owners and beneficiaries of the network. In other words, subscribers have a unique opportunity to earn tokens as they use the service and provide services to their local communities via hotspots and radio antennas.

How it works

Helium Mobile operates based on a unique peer-to-peer network model. This model does not rely on traditional cellular base stations, but instead is served by a distributed network of hotspots deployed by community members. These hotspots provide coverage and generate tokens, namely HNT, which can be converted into MOBILE tokens.

The following is its detailed operating principle:

Community hotspot deployment: ordinary people Like you and me, you can deploy Helium hotspots in your home, work, or elsewhere in the community. These hotspots provide wireless network coverage to the surrounding area.

Blockchain technology application: Helium Mobile is based on the decentralized encryption network-Helium Network. This network allows anyone to develop and operate their own mobile network using token incentives. The entire system runs on the Solana blockchain, ensuring the security and efficiency of the network.

Generate and use tokens: The deployed hotspots not only provide network coverage, but also generate the Helium network's native token - HNT. Users can convert HNT tokens into Mobile tokens to pay for mobile phone services or participate in the governance of the network.

Network integration with T-Mobile: Helium Mobile leverages 5G infrastructure developed by T-Mobile. Users’ devices can seamlessly switch between the Helium network and T-Mobile’s extensive 5G coverage, ensuring continuity of service and signal stability.

Energy efficiency and token rewards: LoRaWAN hotspots in the Helium network excel in energy efficiency, consuming only about 5W of power. In addition, as a hotspot provider, users can not only earn tokens by providing network coverage, but also receive additional rewards by participating in network governance and data sharing activities.

What’s even more amazing is that you don’t need to create a hotspot to enjoy the benefits of Helium Mobile. You just need to register as a customer of the service and connect to the nearest hotspot. Your phone effortlessly moves between the Helium network and T-Mobile's vast 5G coverage, so you'll never lose signal.

This model encourages community participation and innovation, while increasing the resilience of the network through a decentralized approach and reducing dependence on a single service provider. Thereby potentially reducing costs and improving service quality.

Core Mechanism

The core mechanism of Helium Mobile involves several key components that collectively Support its decentralized wireless communication services.

Here are the details of these mechanisms:

Community-driven network Deployment

Hotspot deployment: The Helium network relies on hotspots deployed by individuals and businesses to provide wireless coverage. These hotspots are purchased and deployed by community members themselves to provide wireless network coverage on their properties. Deployers are rewarded with Helium Network Tokens (HNT) for providing network services.

Blockchain and tokenized incentives

Based on Blockchain operation: Helium Mobile runs on the blockchain and uses smart contracts to automate network operation and maintenance and user interaction, ensuring the transparency and security of transactions and operations.

Token incentives: Network participants (hotspot operators, users, etc.) receive economic incentives through Helium’s tokens (HNT and Mobile). HNT is mainly used to reward network coverage providers, while Mobile tokens are used to pay for network services and participate in network governance.

Decentralized network management

User governance: Helium Mobile promotes network governance decisions, including rule changes, fee structure adjustments, etc., through its token holders. This decentralized governance model improves the adaptability of the network and user participation.

Data sharing and transparency: Network operation data is open and transparent, and users can access detailed information about network performance and coverage, increasing trust and network efficiency.

Intelligent network access and switching

Seamless network Handover: Helium Mobile devices can seamlessly switch between Helium networks and partner networks, such as T-Mobile's 5G network. This ensures that users maintain good connectivity even in areas with insufficient Helium hotspot coverage.

Dynamic resource allocation: The network can intelligently adjust resource allocation according to real-time demand and resource availability, optimizing network performance and user experience.

Energy efficient and eco-friendly

Low power hotspot : Helium's LoRaWAN hotspot is designed for low-power IoT device network coverage and operates at very low power (approximately 5W), helping to reduce operating costs and reduce environmental impact.

These core mechanisms of Helium Mobile combine advanced blockchain technology, community-driven participation, intelligent network management and decentralized governance to jointly support a Powerful and innovative wireless network service platform. These mechanisms not only improve network efficiency and coverage, but also provide users with more economical and flexible mobile communication options.

Mobile Token

Purpose< /strong>

1. Pay for network services: Users can use MOBILE tokens to pay for their monthly wireless services, including data plans, calls and SMS services.

2. Network governance: MOBILE token holders may participate in network governance by voting on network policies, upgrades, and other decisions .

3. Incentive mechanism: MOBILE tokens can be obtained by providing network coverage as a hotspot operator or participating in network activities (such as data transmission) as a user As a bonus.

4. Staking rewards: Users can stake their MOBILE tokens to support the security and operation of the network, and may receive staking rewards as a result.

5. Data sharing: Users can obtain MOBILE tokens by voluntarily sharing network coverage data, encouraging community participation and network transparency.

How to get it

Users can obtain Mobile tokens by participating in network construction (such as providing network coverage), conducting transactions, or purchasing through the market.

MOBILE tokens are currently listed on some of the following cryptocurrency exchanges:

1. Coinbase Exchange: The most popular trading pair is MOBILE/USD.

2. Backpack Exchange

3. Crypto.com Exchange

4. CoinMarketCap: Although this is not an exchange, it provides token price tracking and may list Which exchanges support MOBILE token.

5. Bitget: The world's leading cryptocurrency exchange and Web3 company announced the listing of Helium's 5G network governance token MOBILE.

Supply

The total supply of Mobile tokens is 82.26B MOBILE, and the maximum supply is 200 billion MOBILE. The current circulating supply is 82.26B MOBILE, accounting for 41.13% of the total supply.

50 billion MOBILE will be pre-mined at the launch of Mobile Network and distributed to the network operating fund managed by the Helium Foundation. A portion of this allocation has been allocated to Mobile Network hotspots throughout Genesis.

MOBILE’s first year begins on August 1, 2022, and the first token will be minted on August 12, 2022. It is halved every two years and is generally in a deflationary state

MOBILE’s emission plan was proposed in HIP53. Starting from February 1, 2023, 5G hotspot owners 6.6B MOBILE tokens will be earned every month, incentivizing subscribers to register, share data, or demonstrate various other types of valuable behaviors to promote network development. Rewards will more than double compared to the genesis period, but the PoC algorithm remains the same. Subsequently, it was updated through HIP-75, confirmed by HIP-77, and the emission plan was officially updated in HIP-79 on March 19, 2023.

Mining process

Buying and setting up a 5G hotspot: Requires purchasing a compatible 5G hotspot device and CBRS (Citizens Broadband Radio Service) small cell radio. The device needs to be connected to the internet and set up correctly.

Register with SAS: 5G hotspots must be online and registered with the Spectrum Access System (SAS). SAS is a system maintained by the U.S. Federal Communications Commission (FCC), which ensures the efficient use of wireless spectrum resources.

Hotspot deployment: Deploy hotspot devices at appropriate locations to provide 5G network coverage. Proper placement of hotspots is crucial to maximizing coverage and unlocking potential.

Participate in the network: Once the hotspot is online and registered to SAS, it will begin providing 5G coverage to the Helium network. Based on the design of the network, hotspots automatically perform the required tasks to mine MOBILE tokens.

Mining and Earning Tokens: Hotspot devices mine MOBILE tokens by participating in Helium network-specific mechanisms such as Proof-of-Coverage. Depending on your online activity, you may also receive other forms of rewards.

Token distribution

Data hotspot operator: 40% of the total tokens as a reward for running hotspots that provide data coverage.

Mappers: Participants who contribute map data to network coverage, accounting for 20%.

Service provider: An entity that provides various services for the network, accounting for 10%.

veHNT holders: users who pledge their HNT tokens and obtain veHNT (vested Helium Network Tokens, pledged Helium network tokens), accounting for 6%.

Oracles: Systems or entities that provide external data (such as real-world information) to the blockchain, accounting for 4%.

Proof of Coverage: Participants who help verify network coverage, accounting for 20%.

Token Performance

The current status of MOBILE tokens The price is $0.002019 and the price has dropped by 31.42% in the past 7 days.

The market capitalization is $166.06M, ranking 303rd.

24-hour trading volume is approximately $4.98M, up 7.86% from the previous time, indicating increased trading activity despite falling prices.

Track analysis

The Helium Mobile project belongs to the decentralized communication network track. This The field combines blockchain technology and wireless communication technology to provide decentralized network services and enhance the privacy and control of network users.

Projects similar to Helium Mobile include DENT Wireless (a global mobile data exchange platform. It allows users to buy, sell or donate data traffic through the DENT application); Althea (a decentralized Internet service provider that enables users to provide and purchase bandwidth services from each other. This project pays special attention to improving the availability of network services and reducing costs); ThreeFold Network (a decentralized cloud service market that allows users to purchase storage and computing resources), etc.

Helium Mobile currently has more than 50,000 users, and based on annual projections, the total number of users for the year may reach 530,000

Users who participate in Mapping can receive 2,000 MOBILE tokens every day. Calculated at the current price, the cost of US$20 can be recovered in 3 days

Team/Partners/Financing Status

Team

The Helium Mobile project was initiated by Helium Inc., a company co-founded by Amir Haleem, Sean Carey, and Shawn Fanning. The following is a brief introduction to their background:

Amir Haleem: Before entering Helium, Amir Haleem had extensive experience in game development and e-sports. He has held senior positions on several successful gaming projects and has developed expertise in online gaming and virtual reality.

Sean Carey: Sean Carey's background is in technology and product development. Before joining Helium, he had extensive technical leadership and product management experience, especially in software development.

Shawn Fanning: Shawn Fanning is a well-known Internet entrepreneur. His most famous achievement is the creation of Napster, a revolutionary P2P music sharing service. . He has a strong background in network technology and innovation and has been involved in multiple technology startup projects.

Partners

Hardware vendors: Provide Helium hotspots Hardware manufacturers of devices such as Rakwireless, Bobcat Miner, Nebra, etc.

Network operator: Cooperative mobile network operator. For example, in the United States, Helium has signed a cooperation agreement with T-Mobile to support the deployment of 5G services.

Technology platforms and services: such as the Solana blockchain, Helium chose to conduct its token issuance on the Solana blockchain to take advantage of its high throughput and low transactions Characteristics of costs.

Financing situation

Helium Mobile in its development process has conducted multiple rounds of financing, the most eye-catching of which is the latest round:

Financing round: Series D

Financing amount: $200M

Valuation: $1.2B

Main investment institutions: Tiger Global and FTX Ventures

In this round of financing, Helium Mobile (Nova Labs) received significant financial support , further strengthening its market position as a decentralized communication network. The funds will be used to expand its business, including promoting its blockchain-based 5G network services.

Investor’s background:

Tiger Global: This is an internationally renowned investment company , involving investments in many successful technology start-ups and growth companies.

FTX Ventures: This is the venture capital arm of the cryptocurrency trading platform FTX, focusing on investments in the blockchain and digital asset fields.

The support of these core investment institutions not only provides funds for Helium Mobile, but also brings rich industry experience and resources, which is helpful for the promotion and development of its technology. Market expansion.

Project advantages and disadvantages

Advantages