HIP 70 proposes to move Proof-of-Coverage and Data Transfer Accounting to Helium Oracles. It also migrates Helium's tokens and governance to the Solana blockchain. The team selected the Solana blockchain over maintaining their own L1 for reasons including Solana's ecosystem of developers, wallet compatibility, applications, Solana Mobile Stack, etc.
The proposed changes in HIP 70 do not change the fundamentals of the Helium Network or HNT, but provide several benefits to the Helium Network including more HNT available to subDAO reward pools, more consistent mining, more reliable data transfer, more utility for HNT and subDAO tokens, and more ecosystem support.
The Validator unstaking cooldown period is reduced from 5 months to 3 months to support the transition to Solana. Any Validators that remain staked or new stakers of veHNT in the first 7 days after the Solana transition get a 3x bonus of veHNT value.
All active Helium wallets will be seeded with enough SOL for 100 transactions to ensure a smooth transition to Solana.
Approving this HIP implies that the community has reviewed the implementation. We would consider this proposal as approved if it passes with 2/3 of the vote power by the deadline.
Join the conversation on Discord and see the #hip‑70‑scaling‑the‑helium‑network channel for more details.
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