i just discovered that there are solana tokens that i can swap my sol. does it make sense to swap some sol to these tokens? if yes, how to research growth potential of these tokens?

  • wander_eyez@alien.topBEnglish
    1·
    10 months ago

    Seems like MOBILE (the 22.8m$ one) is a subtoken of HNT

    “Other subnetwork tokens, such as IoT and MOBILE, derive their value from HNT as they can be redeemed for it. To utilize the network, HNT must be burned.”

    So it’s likely MOBILE and IoT will never have significant value or get listed beyond where it is now, just fyi

    So buy HNT not MOBILE

    Ref: https://blog.helium.com/helium-ecosystem-health-a-closer-look-at-iot-lorawan-depin-and-5g-usage-on-the-network-f74465b474a6

    • butter14@alien.topBEnglish
      1·
      10 months ago

      The DAO tokens are derivatives of HNT.

      Helium uses a DAO score to determine the redemption rate between HNT and Mobile. The equation takes 3 variables into account (the amount staked in a subDAO, the number of active devices, and the amount of data burned by each respective DAO) this determines the amount of HNT that goes into each DAO’s algorithmic treasury. That HNT is what sets the redemption rate. Here is a link if you want to learn more about how Helium’s economy works.

      Currently, because IOT is older and has more devices, its redemption rate is higher than MOBILE. But if MOBILE is successful, the redemption rate will rise.

      I do agree that it’s probably wise to hold HNT, but MOBILE did have a 300% increase in the last month in preparation of Helium Mobile launching in Miami.

    • wander_eyez@alien.topBEnglish
      1·
      10 months ago

      Also of note Helium has exit scammed quite a few times: https://www.reddit.com/r/CryptoCurrency/s/tYVPgBpvGa

      TLDR; Helium was founded mid 2010s, failed as a mobile network, pivoted to crypto in 2019. Launched their own blockchain w/ HNT as their token, exit scammed a majority of money to their founders & insiders by 2022. Switched to Solana network in 2023.

      I don’t have a strong opinion on Helium but it’s history is questionable at best, and they seem to be more hype & tokens than usage

    • Glittering_Remote454@alien.topBEnglish
      1·
      10 months ago

      Mobile will get listed on CEX.

      You really think when next hype run up starts normies will care about about anything other than how many “0s” can be deleted? Have you seen the rise of BONK recently? Did you see the memecoin frenzy of the last bullrun? This project has genuine use case and the tokens have UTILITY.