HIP 52 establishes the Helium IoT subDAO and subtoken under the framework established by HIP 51. This subDAO will manage the Helium LoRaWAN network, the IOT token, and governance operations for IoT networks. Oracles in the IoT subDAO will confirm Proof of Coverage, data transfer activity, and add blocks to the IoT subnetwork.
IoT subDAO participants may lock and delegate IOT tokens as veIOT to gain voting power in IoT governance and/or run oracles. HNT tokens will be emitted to the subDAO treasury as required by HIP 51 and will back the IOT token. The IOT token will be redeemable for HNT through a programmatic treasury controlled by the IoT subDAO.
Approving this HIP implies that the community has reviewed the implementation. We will 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-52-lorawan-dao channel for community discussion.
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