The Helium Blockchain is a network of distributed long-range wireless hotspots built to incentivize the creation of decentralized public networks. Helium uses an algorithm called Proof of Coverage that rewards miners in HNT. Proof of Coverage utilizes community-hosted hotspots to create a network of IoT devices acting as the foundation for the Helium ecosystem.
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You maintain custody of your HNT at all times.
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Wallet: Helium is supported by Ledger. Find instructions on how to install the Ledger app here: https://docs.helium.com/wallets/ledger/
Helium's native token, HNT, is used to stake and pay for transactions.
Transfers are currently enabled
Staking rewards were fully enabled on July 7th
Good question!
Initially, the HNT is being staked to earn new issuance ("inflationary") subsidies. That means that the HNT supply will increase and stakers will capture the newly issued HNT. Since staking rewards are tied to inflation, read about how inflation and rewards are related here.
Stakers will also capture fees from network transactions, so as Helium transaction volume increases, HNT stakers will earn more than just new issuance subsidies.
The HNT also gives stakers the right to vote on policy decisions for how Helium will operate and distribute treasury funds.
There is no bonding time, staking and earning rewards is immediate. From the moment you initiate the unbonding process, it takes 5 months (250,000 blocks) to unstake. During this time you will not earn rewards. When the process is complete, you can transfer/trade your HNT.
You can self-custody your Helium HNT tokens, ideally using a Ledger hardware wallet. Here are instructions for using your Ledger wallet with Helium: https://docs.helium.com/wallets/ledger/
Figment has partnerships with a number of top-in-class custodians: support@figment.io
Helium protocol takes control of your HNT tokens while you are staking. If you unbond your tokens, this process will take 5 months before the protocol returns your tokens to you.
At launch, there will be no slashing. Poor performance will yield fewer rewards.
How is staking income disbursed? Is staking income liquid or automatically staked?
Your potential rewards depend upon validator performance. When your validator is down, you will not be earning staking income.
6% of the supply is set aside to reward validators.
Helium uses off-chain governance, though this may change in the future. Governance proposals are discussed in Discord and proposed on GitHub.
