The Helium Foundation has urged people to take safe custody of their HNT assets as Binance.US is delisting HNT trading pairs ahead of Helium’s migration to Solana. The Foundation is disappointed with Binance.US’s decision, but it remains committed to the migration, which is expected to scale network utility and create more decentralized trading venues for HNT. The Helium Wallet app is an open-source platform that people can use to keep their HNT assets safe, or they can migrate to one of the other 20+ venues currently supporting HNT trading pairs.
The Helium Foundation has been working closely with the Solana community, the Solana Foundation, and other ecosystem projects to ensure the migration is successful and completed on time. Following the migration, the Helium Wallet app will support native subDAO token redemption, as outlined in HIP 70, and other integrations within Solana decentralized finance (DeFi) platforms. The migration is a significant event for the Helium network, and it is expected to direct more resources towards the Helium Foundation’s ultimate goal of creating a ubiquitous, affordable communication layer for all people and devices.
The Helium migration to Solana is on par with Ethereum’s transition from Proof of Work (PoW) to Proof of Stake (PoS). The transition was a significant milestone for the Ethereum (ETH) network, which is currently ranked #2 by market capitalization. The Helium migration is set to be the most significant upgrade to the Helium network in terms of scalability and reliability. As such, it is expected to attract more investors and traders to the network, creating more trading opportunities and liquidity for HNT.
In light of the Binance.US delisting announcement, HNT is trading at $2.08 USD at the time of writing, recording a 7% dip over the past 24 hours. However, the Helium Foundation remains optimistic about the future of HNT and the network’s migration to Solana. The Foundation will continue to educate Binance.US about the network’s core initiatives and development roadmap, and it is committed to creating a ubiquitous, affordable communication layer for all people and devices. The Helium migration to Solana is a significant event for the network, and it is expected to attract more investors and traders to the network, creating more trading opportunities and liquidity for HNT.
