- Helium efficiently migrated to the Solana community final week.
- Since helium migrated to Solana, over six billion IOT tokens have been minted.
- Earlier immediately, IOT Token gained 370 to hit a each day excessive of $0.003927.
The Helium IOT (IOT) token shocked most crypto traders immediately with a surge of over 370%. Regardless of the minor retracement, the token was nonetheless within the inexperienced at $0.00206, up 33.59% at press time.
At present’s improve within the worth of IOT tokens is attributed to final week’s profitable switch of Helium to the Solana community, which resulted within the minting of greater than six billion IOT.
Helium Web of Issues community protocol identifier
Most are conversant in Helium’s native token HNT, which has additionally been working fairly nicely for the previous few days after the transfer.
Helium has one other token, Helium IOT, which is the Helium Web of Issues community protocol token. Helium IOT is mined from Helium hotspots, that are the {hardware} infrastructure of the IOT community.
Helium IOT is backed by the HNT token and is at all times convertible to HNT, and the redemption fee is algorithmically decided by the Treasury Swap Sensible Contract.
In line with Solana blockchain researcher, there are about six billion IOT tokens in circulation out of a most of 200 billion tokens.
The IOT token additionally obtained one other enhance after Solana-based decentralized finance (DeFi) protocol Kamino Finance introduced the opening of two Helium vaults for traders to take a position their IOT and HNT tokens for revenue.
