Helium (HNT) token holders on Wednesday formally voted emigrate from Helium layer-1 blockchain to Solana protocol.
81.41% of the 6,177 voters voted in favour of the migration in a proposal that was known as the Helium Enchancment Proposal (HIP 70) which was aimed toward making the community in a position to meet person calls for. The HIP 70 proposal had been made on August 31 citing that the transfer would:
“Carry vital economies of scale via the huge vary of compassable Solana developer instruments, options, and purposes.”
Helium switching to Solana protocol
The Helium Basis mentioned that the migration to Solana will enable the HNT token to develop into extra suitable with decentralized finance (DeFi), non-fungible tokens (NFTs), and Web3 initiatives.
Helium Basis COO Scott Sigel in a statement mentioned:
“Solana has a confirmed observe file powering among the world’s most necessary decentralized initiatives and so they have been an apparent selection for us to accomplice with. Transferring to the Solana blockchain permits us to focus our efforts on scaling the community versus managing the blockchain itself.”
Helium nonetheless fighting income
Weeks resulting in the proposal, Helium had attracted some controversy with considerations concerning the community’s income potential.
Nevertheless, outstanding traders have defended Helium saying that it’s nonetheless constructing its infrastructure and the income would come later.
As soon as the migration is accomplished all of the tokens of the Helium ecosystem together with HNT, IOT, and MOBILE will develop into obtainable on Solana. A brand new model of the Helium Pockets App may also be unveiled.