Pre-Mine Use of Funds

As defined in HIP-51 and HIP-53, and approved by community-wide votes, the Helium Foundation receives an allocation of 50B (billion) MOBILE tokens in the form of a pre-mine.

The use of proceeds are roughly defined as follows:

Genesis Period Rewards: 10B MOBILE

The Helium Foundation will work with the core developers to initiate the Genesis period of MOBILE rewards. 100M (million) tokens will be programmatically issued per day to all active Helium 5G Hotspots during the Genesis period. Details of the proportional mining rewards for active 5G Small Cell Radios can be found here. Any MOBILE not mined during the Genesis period may be reallocated to Grants and Operations.

Grants and Operations: 30B MOBILE

The Helium Foundation will distribute grants to teams making core contributions to the development of the MOBILE subDAO. Grants will be distributed based on defined deliverables and milestones.

The Nova Labs team will be the first grant recipient for work-in-progress and ongoing development for the MOBILE subDAO. This is spread across three deliverables with 5B MOBILE per milestone (“MS”) for a total grant of 15B MOBILE:

MS 1: Ability for 5G Hotspots to earn MOBILE (by August 2022)
MS 2: Development and release of programmatic treasury (by October 2022)
MS 3: Proof-of-Coverage based rewards (by January 2023)

The remaining 15B MOBILE is reserved for other work pertaining to oracles and mappers development or other community contributions. More opportunities will be presented in the coming weeks.

Growth Activities Related to the MOBILE subDAO: 10B MOBILE

Reserved for marketing and educational campaigns around the MOBILE subDAO.