Helium (HNT) Surges 25% Following Smart Contract Updates

Helium (HNT) has witnessed a notable surge of 25% in the last 24 hours, reaching a current trading value of $6.28. This significant uptick coincides with recent protocol adjustments and the implementation of key smart contract changes disclosed by the Helium network.

WiFi Onboarding Charges (HIP-96) Implementation

One of the pivotal changes is the implementation of WiFi Onboarding Charges outlined in HIP-96. Unanimously endorsed by the Helium community on November 22nd, this proposal introduces a new cost structure for onboarding WiFi access points to the Helium Network. Effective January 8, 2024, at 10 pm UTC, the new charges are as follows:

  • Indoor Access Points: $20 (inclusive of $10 in Data Credits and $10 in MOBILE)
  • Outdoor Access Points: $30 (inclusive of $10 in Data Credits and $20 in MOBILE)

Service Provider Rewards (HIP-87) and Protocol Emissions Updates

HIP-53, which established Service Provider emissions for the MOBILE network, and HIP-87, an update to Service Provider rewards, are now fully implemented, audited, and deployed as of January 8, 2024, at 10 pm UTC.

These approved proposals instruct the protocol to emit up to 10% of total MOBILE emissions per epoch to Service Providers, proportional to the amount of Data Credits used in the same epoch.

Furthermore, the protocol ensures that all subnetwork token (IOT and MOBILE) emissions are meticulously created and accounted for through on-chain programs. Any unimplemented emissions for subnetworks will undergo on-chain reversal (via burn) subsequently.

This surge in Helium’s value reflects the positive market response to these protocol changes, emphasizing the impact of fundamental developments on cryptocurrency valuations. As the Helium network evolves, investors and stakeholders closely monitor these updates for potential market implications.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: peshkov/123RF // Image Effects by Colorcinch

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