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Helium ‘Disappointed’ by Decision
Centralized exchange Binance US will delist the HNT token on March 21 ahead of the migration of Helium Network to Solana on March 27.
We at the @HeliumFndn want to directly address a recent announcement that affects the @helium ecosystem. Please see our full blog post for more information. 🧵[1/6] https://t.co/u9tBTJfmuC
— Helium Foundation (@HeliumFndn) March 14, 2023
The Helium Foundation said they were “disappointed” by the exchange’s decision but understand their position.
“Helium’s migration to Solana is significant, and a first for the industry — on par with Ethereum’s transition from proof of work to proof of stake,” according to a Medium post.
Helium recommended that Binance US customers take their $HNT off the exchange and either put the tokens in the Helium Wallet or in another exchange that supports $HNT trading pairs.
In its delisting announcement, Binance US said upon review $HNT was deemed to no longer meet the exchange’s “high standards” and/or was affected by changed “industry circumstances.”
What is Binance US:
Binance US is the American arm of the world’s largest cryptocurrency exchange platform, Binance. Users on the platform can buy, sell, and trade over 60 popular crypto assets, including Ethereum (ETH), Solana (SOL), BNB Chain (BNB), and Bitcoin (BTC).
Where to find Binance US:
Website | Twitter | Telegram
What Is Helium Network:
According to CoinMarketCap, Helium (HNT) is a decentralized blockchain-powered network for the Internet of Things (IoT) devices. Launched in July 2019, the Helium mainnet allows low-powered wireless devices to communicate with each other and send data across its network of nodes. Nodes come in the form of so-called Hotspots, a combination of a wireless gateway and a blockchain mining device. Users who operate nodes thus mine and earn rewards in Helium’s native cryptocurrency token, HNT. Helium aims to prepare IoT communication for the future, identifying inadequacies in current infrastructure from its birth in 2013.
Learn more about Helium Network:
Twitter | Website | Discord |
What is Solana:
Solana is a public, open-source blockchain that allows for smart contracts, non-fungible tokens (NFTs), and various decentralized applications (dApps). The SOL token, which is native to Solana's blockchain, provides network security through staking as well as a means of transferring value.
Learn more about Solana:
Website | Twitter | Docs | Github | Discord |