Helium

Helium is a decentralized wireless network that lets physical devices — such as sensors and other Internet of Things equipment — connect to the internet through a crowd-built infrastructure of radio hotspots. The project addresses the problem of expensive, centrally owned wireless coverage by allowing ordinary people to deploy hotspot hardware and earn tokens in return for the coverage they provide. It is aimed at device makers and operators who need low-cost, wide-area connectivity without relying on a traditional telecom carrier.

Hotspot operators run physical radio gateways that simultaneously provide wireless coverage to nearby devices and participate in validating network activity, earning HNT tokens based on the coverage they can prove they are delivering and on transaction fees paid by devices that connect through their gateway. The network migrated to the Solana blockchain, so HNT exists within the Solana ecosystem rather than on a standalone chain, and the project is categorised as using Proof of Stake consensus. Mining periods run roughly every 30 to 60 minutes, at which point newly minted tokens are distributed to hotspot owners, the founding company, and investors according to a fixed allocation schedule.

The protocol recorded 2,296,688 USD in fees and an equal amount in revenue over the trailing 12 months, meaning all fees collected flow directly through as revenue with no separate protocol cut retained on top. These fees are paid by devices and their operators when they connect to the network through hotspots, and the proceeds flow to hotspot owners as part of their earnings. On the supply side, approximately 5,000,000 new HNT are minted each month, and circulating supply already represents 83.5 percent of the 223,000,000 maximum, leaving a dilution overhang of effectively zero percent, so future issuance beyond current circulation is negligible.