Helium Mobile, which has recovered its capital in 2 days a month and made profits in 28 days, has increased dozens of times, has become the leader in DePIN.

Sharonand others2Authors
23-12-18 20:33
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Table of Contents:
· Solana empowers DePIN narrative, $MOBILE welcomes prosperity
· Helium behind $MOBILE: Transformation from public chain to DePIN
· DePIN track becomes one of the key narratives in this round of Solana

The enthusiasm for Mingwen is still there, and $MOBILE has become one of the most discussed tokens in the encryption industry community today.

On December 18th, according to CoinGecko data, $MOBILE was priced at 0.0068257 USD, reaching a new all-time high. In addition, $MOBILE rose by 100.5% in the past 24 hours and 2382.4% in the past month.

This $MOBILE, issued by Helium, a project once known as the "star public chain", has been released for a year and a half, and now finally welcomes "great prosperity". At the same time, Helium has finally seen the dawn of successful transformation with the help of the Solana ecosystem and $MOBILE.

Solana empowers DePIN narrative stacking, $MOBILE welcomes prosperity

Over two months ago, an inconspicuous comment on the Helium forum pointed out that "since the October app update, Helium Mobile gives out 8,000-9,000 Mobile tokens per day, which amounts to 250,000 Mobile tokens per month. Based on the current token value of $MOBILE 0.000157, this is almost $40. Don't miss out, folks."

If he hasn't sold it all along, 8000 $MOBILE per month now translates to 1700 US dollars.

However, in the forum, multiple users pointed out that currently, in order to obtain $MOBILE, users "must move more than 200 feet before the phone sends location information to Helium". At present, users can obtain approximately 2000 $MOBILE per day, which is worth around 12 US dollars according to the current market price of $MOBILE. This translates to a monthly income of 360 US dollars, while the cost for users is a 20 US dollar monthly plan fee.

Equivalent to, this is a mining project that can recoup the investment in less than 2 days, and the remaining 28 days are all profits, with an astonishingly high APR.

So what exactly is $MOBILE?

This is a token launched by the decentralized wireless communication network Helium Mobile in July 2022. At that time, the Helium Foundation launched the MOBILE token mainly as a reward for 5G hotspots, used to expand the coverage of Helium 5G. Click here for more information.

In September 2022, Helium developer Nova Labs announced the signing of a mobile virtual network operator (MVNO) agreement with telecommunications giant T-Mobile, and will launch the commercial mobile smartphone service under the Helium Mobile brand in the first quarter of 2023.

By November 2022, Nova Labs has announced that it will provide SIM cards and free trials to users of Solana Labs' new Saga phone (Saga phone is Solana's flagship Android device, closely integrated with the Solana blockchain). According to the agreement, Saga phones sold in the United States will receive a 30-day free Helium Mobile subscription.

Until December 6th of this year, Helium Mobile has launched a $20 unlimited phone plan in the United States, which includes data, messaging, and calling services. Here is the source for more information.

It is precisely under the dual overlay of Solana's empowerment and DePIN's narrative that the price of $MOBILE began to rise all the way from last week, and achieved a 110% intraday increase on December 14, leading the DePIN track-related tokens for the day. Until today, after $MOBILE achieved ATH, the community finally began to have a wider range of discussions.

It is worth noting that $MOBILE, like $HNT, is a token issued by Helium. $HNT is the main economic asset in the Helium ecosystem, and the only way to pay for network data transmission fees is to burn $HNT. $MOBILE is the governance token for Helium subDAO, with the aim of achieving governance separation.

Related reading: "Multicoin's interpretation of Helium's new tokens: What's the difference between MOBILE and HNT?"

$MOBILE Behind Helium: Transition from Public Chain to DePIN

The skyrocketing price of $MOBILE cannot be separated from the complete failure of Helium before.

The history of Helium can be traced back to 2013, just a few years after the birth of Bitcoin. In its early years, Helium was strictly an Internet of Things project and had nothing to do with blockchain. It wasn't until 2017 that Helium entered the Web3 arena by introducing a blockchain-based incentive model. Since then, Helium has developed into a public chain and built a decentralized wireless network for "Internet of Things" devices.

Related reading: "The fall of star public chains, what did Helium do wrong?"

Helium uses its unique PoC (Proof of Coverage) consensus mechanism to prove that HotSpots provide network coverage. Due to the close connection between Helium's hotspot mechanism and mining mechanism, it was highly welcomed by the community in the early days and reached its peak of development in 2021. At that time, Helium completed a $111 million financing through token sales. In early 2022, Helium completed a $200 million Series D financing with a valuation of $1.2 billion.

However, starting from July 2022, the original Helium model has been criticized by many people.

Helium's mining machines are not cheap, and unlike traditional mining, Helium mining also needs to consider geographical location because the machines cannot be placed together. This logic is feasible in an ideal state, but in reality, only a few people are actually mining.

During the bear market phase, there were constant doubts about the decrease in Helium's revenue. Cryptocurrency investor Liron Shapira also once posted on social media, stating that "the monthly revenue of the Helium network is only $6,500, while the monthly revenue of a single mining machine is only $20."

Related reading: "Did the Helium Protocol fail with a financing of $365 million and a monthly income of $20 per node?"

Meanwhile, the Helium network has almost no developers and the token has no use cases. The only option is to sell the mined tokens.

What's even more deadly is that Binance announced in October 2022 that it will remove HNT leveraged trading pairs and spot trading pairs.

In response to various development obstacles, Helium has also attempted to make compensation.

2022 年 6 月, Helium announced that it is accelerating the expansion of its multi-network protocol to meet the needs of an unlimited number of wireless protocols, each with its own dedicated token incentive model and governance mode.

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