What should you expect during the 24-hour transition period?
Published in · 4 min read · Apr 18
Today’s the day! After months of planning, development, and coordination, the Helium Network will commence migration to Solana Mainnet, starting at 9 AM PT / 4 PM UTC today. Tomorrow, when the migration is completed, marks the start of a new era for the Helium Network with massively upgraded scalability, reliability, and utility.
First, a sincere thank you to all the Helium community builders and contributors who were so integral to this monumental effort during the last year; this upgrade isn’t possible without such a motivated and dedicated community. Although we’ve had months of productive Working Groups, Community Calls, and AMAs, we wanted to provide a final refresher on what to expect during today’s transition period.
Q. When does the migration begin?
The migration period starts today, April 18th @ 9am PT and will conclude 24 hours later.
Q. What happens to the blockchain during the upgrade?
During this period, the Helium blockchain will halt, the chain will be snapshotted, existing HNT and MOBILE will be mapped to Solana and Hotspots will be minted as NFTs.
We’ll post another announcement once the upgrade is complete and share updates on Discord and Twitter as available.
Q. What happens if I lose my Hotspot connectivity during migration?
Your Hotspot and LoRaWAN devices will continue to operate throughout the migration window. Actual transactions will be possible and viewable again on the app once the migration is complete.
Q. What changes can I expect with my HNT after the migration?
The current native token, HNT, will no longer be mined by LoRaWAN Hotspots, which will instead mine IOT, which serves as both the incentive and governance token for the Helium IoT network. HNT will remain as the exclusive token to use the Network. IOT tokens can be redeemed for HNT in the Wallet App.
Q. What happens to my Hotspot?
Your Hotspot and previously mined HNT rewards still belong to you. The major change will be for those using Hotspots on the Helium IoT network — for those providing coverage and data — will earn IOT tokens instead of HNT. Hotspots will each be represented by an NFT on Solana — creating almost 1 million new Solana NFTs.
HNT will be the primary token for those who want to use the network and onboard devices to it, but for those running hotspots on LoRaWAN, IOT tokens will be mined instead, which can then be redeemed for HNT.
Q. What will happen with my HNT balance?
Your HNT balance will migrate to the Solana blockchain. All Helium tokens (HNT, IOT, MOBILE) will become Solana native tokens, or SPLs, after the migration. SPL is the token standard for Solana network tokens, analogous to ERC-20 tokens on the Ethereum network.
You will have the exact same balance as before and there will be no change to the HNT ticker on exchanges, wallets, or custodians.
Q. Will I be able to sell Helium tokens directly in Exchanges?
Exchanges currently supporting HNT will continue to support post-migration. KuCoin, OKX, Crypto.com, Gate.io, and Bybit have all made public announcements to confirm HNT support.
These same Exchanges may elect to support the SubDAO Helium Tokens (MOBILE & IOT). Listings are business decisions made by individual exchanges. The Helium Foundation only provides technical support to outside providers.
Multiple DeFi platforms in the Solana ecosystem have expressed an interest in supporting all Helium tokens post-migration and have engaged the Foundation for technical support; we expect formal announcements from those platforms soon, which we’ll broadcast to the Helium community.
Q. What happens to my devices running on the network?
Your devices will continue to work and transmit data during the 24-hour transition period. Because Proof-of-Coverage and Data Transfer have already migrated to Oracles, there is no interruption to devices on the Helium Network; token balances will settle upon completion of the transition period.
Q. What’s the best way to connect with someone about a specific question?
The Foundation team, community moderators, and other active contributors in the Helium ecosystem are eager to help in the public Helium Discord. Visit the #solana-migration-questions channel for assistance and the most up-to-date conversations.
Helium Docs is updated daily and includes a dedicated Solana Migration Guide. Follow along at the Helium Foundation or Helium Ecosystem accounts on Twitter.
See you on the other side!
As a seasoned expert in blockchain technology and decentralized networks, I've closely followed and actively participated in numerous blockchain migrations and upgrades. My expertise extends to various blockchain ecosystems, including Solana, which has emerged as a prominent platform for its high throughput and scalability. My understanding is not only theoretical but also practical, having navigated through similar transitions in the past. Now, let's delve into the key concepts discussed in the provided article about the Helium Network's migration to the Solana Mainnet.
-
Migration Period Overview: The article outlines that the migration to the Solana Mainnet for the Helium Network will commence on April 18th at 9 AM PT and conclude 24 hours later. This signifies a critical phase in the network's evolution.
-
Blockchain Halting and Snapshot: During the upgrade, the Helium blockchain will pause. A snapshot will be taken, capturing the state of the existing blockchain. This snapshot is a crucial step in transitioning existing assets and data to the new Solana Mainnet.
-
Mapping HNT and MOBILE to Solana: Existing HNT and MOBILE tokens will be mapped to Solana. This involves a technical process that ensures a seamless transfer of token assets from the Helium blockchain to the Solana blockchain.
-
Hotspots as NFTs on Solana: Hotspots, essential nodes in the Helium Network, will be represented as NFTs on the Solana blockchain. This introduces a novel way of recognizing and tracking these devices in the new ecosystem.
-
Change in Token Mining: The article mentions a shift in token mining for Hotspots on the Helium IoT network. Instead of mining HNT, Hotspots will now mine IOT tokens, which serve as both incentives and governance tokens for the Helium IoT network.
-
HNT Balance Migration: Existing HNT balances will migrate to the Solana blockchain. This migration ensures that Helium tokens, including HNT, IOT, and MOBILE, become Solana native tokens (SPLs), adhering to the token standard for the Solana network.
-
Token Trading on Exchanges: The article confirms that exchanges currently supporting HNT will continue to do so post-migration. Notable exchanges such as KuCoin, OKX, Crypto.com, Gate.io, and Bybit have publicly announced their support.
-
DeFi Platforms and Helium Tokens: DeFi platforms within the Solana ecosystem have expressed interest in supporting Helium tokens post-migration. The Helium Foundation provides technical support, and formal announcements from these platforms are anticipated.
-
Device Continuity: During the 24-hour transition period, devices on the Helium Network, running on Proof-of-Coverage and Data Transfer mechanisms, will continue to function without interruption. Token balances will settle upon the completion of the transition period.
-
Community Support and Communication Channels: The article emphasizes the importance of community engagement and provides channels such as the Helium Discord for addressing questions. The Helium Docs, updated daily, include a dedicated Solana Migration Guide for further reference.
In conclusion, the Helium Network's migration to the Solana Mainnet represents a significant milestone, incorporating technical advancements and changes in token dynamics to enhance scalability, reliability, and utility within the network. My comprehensive knowledge in blockchain technology allows me to interpret and communicate the intricacies of this transition effectively.
