Howdy!
Web3 helps me pay both for my coffee and cell phone plan. Today’s Newsletter is about the latter.
Who said the millennial Lifestyle Subsidy was dead?
— Jack Kubinec
What is the maximum height that Helium can float?
Helium Mobile’s nationwide plan has been available for more than 5 months. It is one of the biggest applications to date of DePIN, or decentralized physical infrastructure as crypto enthusiasts call it.
Nova Labs has begun offering unlimited data plans to US residents for $20 per month.
Helium Network members operate hotspots that provide cellular coverage. They are paid with MOBILE Tokens based on Solana for doing so. Nova Labs will purchase coverage through T-Mobile when Helium data cannot be obtained.
Since its launch in 2010, the product attracted nearly 90,000. This includes this writer of a newsletter. Nova Labs CEO Amir Haleem said that these numbers were solid, when viewed in the context.
“It looked like in all of last year, AT&T, Verizon, and T-Mobile only added something like 300-400,000 subscribers combined,” Haleem stated that Helium Mobile aims to have 300,000 customers by the end year.
Publicly available data seems to tell a different story: AT&T, Verizon, and T-Mobile each reported millions of new subscribers last year. Nova Labs has not responded to an immediate request for comment regarding the discrepancy.
Helium Mobile’s coverage is as good as that of any other cell carrier I have used in the past. Helium Mobile has recently started paying MOBILE tokens to users for their location data to enable discovery mapping. This allows Helium Mobile to better determine the areas that need more coverage. On my first day, I earned $0.78-worth of MOBILE — or roughly ½ of a slice of pizza, in New York terms.
The Helium Network has been surrounded by a persistent question: can it make money? Nova Labs added another revenue stream in January when it partnered with the Spanish telecommunications company Telefónica. Helium Network will be receiving a portion of the mobile data that is currently being used by Nova Labs in Mexico. A new network, such as Helium Network’s, could be valuable for data providers.
Yet, it is unclear whether the MOBILE-based token incentives will continue to be offered by the network. CoinGecko reports that MOBILE’s value jumped by more than 2000% in the first few days after Helium Mobile became nationwide. Helium Mobile’s subscriber numbers have not yet stalled, and this could lead to a downward trend in the price of tokens.
Haleem says that Helium’s inefficiencies with legacy coverage makes it an attractive alternative. “obvious” Application for DePIN
“It’s just wildly too expensive to keep deploying infrastructure the way it’s being deployed,” Haleem says. “It’s hundreds of billions or trillions of dollars to deploy towers all the time. It doesn’t make any sense.”
— Jack Kubinec
Zero In
Dune Analytics’ Helium mobile dashboard shows a steady increase in the number of newly issued subscriber NFTs. 89474 have been issued since January 20,24.
In the beginning, enthusiasm was high, but it has waned in recent weeks. There was a surge on May 10 with 837 new NFTs. Helium Improvement Proposal 113 increased the rewards for WiFi hotspots while reducing them for CBRS Radios. This was done to encourage efficient coverage. This spike seems to emphasize the importance of rewards for users in the Web3 universe. The quality of the service will be more important than profit incentives to sustain long-term interest.
— Jeffrey Albus
The Pulse
On May 12, Solana surpassed Ethereum in daily economic value, recording $2.25 million in transaction fees and MEV — compared to Ethereum’s $1.98 million. Since then, the community is buzzing with lively discussions on social media.
One X thread, by Dan Smith from Blockworks Research pointed out how the landmark’s timing was interesting. Some users debated about the importance of Ethereum L2 solutions. The question arose as to whether the L2 should be included.
Mert Mumtaz (co-founder of Helius, CEO, and cohost of Lightspeed) highlighted the competitive dynamics of other blockchain projects targeting Solana developer with job offers. He’s been outspoken about Solana and its integrated approach, as well as the limitations of Ethereum.
Discussions were also fuelled by the valuation disparity between Solana (a blockchain) and Ethereum. Some suggested that Solana’s current lower valuation indicated significant growth potential. The broader feeling is that Solana’s adoption and value could increase as the technology continues to be showcased and more users and developers are attracted.
— Jeffrey Albus
The One Good DM
Text from Arman Dezfuli-ArjomandiBoard member of the Helium Foundation:
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
