TL; DR
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The Helium Network pays $MOBILE tokens to customers who share their location data with the mobile carrier (giving them insight into where to add more coverage).
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$MOBILE is up over 1800% in the past month; which has increased the incentive for people to create fake accounts → provide useless location data to the network → collect the tokens → run.
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Now, new subscribers will have to wait eight days before they can claim $MOBILE tokens that they will receive in exchange for their location data, which should give the team behind Helium enough time to root out any suspicious behavior.
Full story
If you haven’t caught us talking about the Helium Mobile network…
Imagine T-Mobile, or Verizon…
But instead of using cell towers to make calls and send data, the network uses these small 5G routers that connect regular people to their home Wi-Fi network.
In exchange for sending mobile signals out into the world for Helium Mobile customers to use, the owners of these routers get a share of the network’s revenue.
…but that’s not the only way to earn crypto with Helium.
The network also pays $MOBILE tokens to customers who share their location data with the mobile carrier (giving them insight into where to add more coverage).
Good news/bad news:
$MOBILE is up over 1800% in the past month! (See above ☝️).
That has increased the incentive for people to create fake accounts → provide useless location data to the network → collect the tokens → run away.
As a solution:
New subscribers will now have to wait eight days before they can claim $MOBILE tokens that they will receive in exchange for their location data, which should give the team behind Helium enough time to root out suspicious behavior.
Call us painful optimists, but…
It’s nice to see growing pains within the Web3 space again, rather than stagnation.