Helium: The Wallet Will Instantly Redeem Native Sub DAO Tokens After Migration

Key Points:

• Helium Foundation is dissatisfied with Binance.decision US’s to delist HNT/USD and HNT/USDT transactions prior to the transfer.
• The Helium Foundation will continue to communicate with Binance.US and educate them on the network’s fundamental goals and development path.

The decentralized wireless communication network Helium published a post titled “Response to Binance.US” on March 14, indicating that Binance.US revealed plans to delist HNT/USD and HNT/USDT transactions on March 21, 2023, prior to the Solana migration. 

While the Foundation is sad that Binance.US opted to take this move before the relocation, “we understand their viewpoint”. Helium indicated that after the migration, the Helium wallet application would offer native subDAO token redemption (as detailed in HIP70) and other integrations inside the SolanaDeFi platform, as well as unlocking new decentralized exchange protocols for HNT.

The Foundation will continue to communicate with Binance.US and educate them on the network’s fundamental goals and development path. The Foundation remains dedicated to the migration, which will dramatically increase network utility and allow us to devote more resources toward our ultimate goal: a ubiquitous, cheap communication layer for all people and devices.

Following the transfer, the Wallet app will allow native subDAO token redemption (as specified in HIP 70) as well as additional connectors inside Various DeFi platforms, enabling HNT to trade in more decentralized markets. We’re thrilled to be moving forward with the full backing of our community via the Upgrade Readiness Working Group, the Solana Foundation, and other ecosystem initiatives like as Clockwork, Helius, Jupiter Aggregator, Metaplex, Pyth, Sec3, Squads, Switchboard, and others.

Helium will begin moving to Solana on March 27, according to earlier Coincu reporting. The Foundation produced a whitepaper on February 19th saying that the Helium Network would transfer to the Solana blockchain on March 27th. The Helium Foundation is forming an upgrade preparedness team of community volunteers to oversee the migration process in order to ensure a seamless transition.

The upgrade will affect all wallets, hotspots, and Helium network status and will take place over a 24-hour period beginning about 23:00 Beijing time on March 27. On March 27, the existing Helium blockchain will go offline for a 24-hour changeover phase. Data transmission and Proof-of-Coverage operations will be unaffected.

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