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74 changes: 48 additions & 26 deletions docs/tokens/mobile-token.mdx
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Expand Up @@ -12,17 +12,11 @@ import useBaseUrl from '@docusaurus/useBaseUrl'

<img className="docsheader" src={useBaseUrl('/img/blockchain/mobile_header.png')} />

MOBILE is the protocol token of the [Helium Mobile Network][mobile]. MOBILE was introduced to the
Helium Network through the community proposal [HIP-53][hip-53] and is further defined in subsequent
MOBILE was the protocol token of the [Helium Mobile Network][mobile]. MOBILE was introduced to the
Helium Network through the community proposal [HIP-53][hip-53] and was further defined in subsequent
HIPs<sup>(</sup>[^1]<sup>,</sup>[^2]<sup>,</sup>[^3]<sup>,</sup>[^4]<sup>)</sup>.

The MOBILE token is mined by 5G-CBRS and WiFi Hotspots through both data transfer proceeds as well
as Proof of Coverage.

The mint address for MOBILE is [`mb1eu7TzEc71KxDpsmsKoucSSuuoGLv1drys1oP2jh6`][mobile-mint-addr] on
the Solana blockchain.

:::important MOBILE emissions ceased on January 15, 2025, in accordance with [HIP-138][hip-138].
:::important MOBILE emissions ceased on January 29, 2025, in accordance with [HIP-138][hip-138].

Network participants are directly rewarded in HNT tokens from the HNT awarded to the MOBILE Network
by the utility score.
Expand All @@ -32,18 +26,39 @@ emission period.

:::

## Token Brief

The MOBILE token was mined by 5G-CBRS and WiFi Hotspots through both data transfer proceeds as well as
Proof of Coverage. MOBILE tokens could also optionally be earned from locking HNT tokens to participate in
Helium MOBILE Network governance.

The mint address for MOBILE is [`mb1eu7TzEc71KxDpsmsKoucSSuuoGLv1drys1oP2jh6`][mobile-mint-addr] on
the Solana blockchain.

## Redemption for HNT

Protocol tokens like MOBILE will always be backed by HNT and will convert to HNT. To enable this,
each network within the Helium Network is allocated a pool of HNT based on the Network Utility
Score.
Protocol tokens like MOBILE will always be backed by HNT and will convert to HNT even after the return
to issuing HNT rewards directly. To enable this, each network within the Helium Network is allocated
a pool of HNT based on the Network Utility Score.

The redemption ratio is set algorithmically by treasury swap contracts. It can be calculated easily
by dividing the current amount of HNT in the network treasury by the current total amount of MOBILE
tokens in existence. The result tells how much HNT one will get per MOBILE token given up at the
network treasury.
by dividing the
[current total amount of MOBILE tokens in existence](https://solscan.io/token/mb1eu7TzEc71KxDpsmsKoucSSuuoGLv1drys1oP2jh6)
by the current amount of
[HNT in the MOBILE Network treasury](https://solscan.io/account/AguTdjmW5SkhepT9qsKsj29SEqiVKsJchsap6Kma9i98).
The result tells how many MOBILE is required to be burned to receive each HNT token from the network
treasury.

$$\text{HNT per MOBILE} = \frac{\text{Total amount of HNT in treasury}}{\text{Total amount of MOBILE tokens existing}}$$
$$\text{MOBILE per HNT} = \frac{\text{Total amount of MOBILE tokens existing}}{\text{Total amount of HNT in MOBILE treasury}}$$

Although the MOBILE token has ceased minting, there is still a daily distribution of HNT to the
MOBILE Treasury as [HIP-138][hip-138] defined an emission of 2.9M HNT to the MOBILE treasury, distributed
daily as an amount of **12,236.28691983** HNT until the havening on August 1st 2025. After that date
the redemption or floor rate of MOBILE to HNT will stabilize, until then floor rate of MOBILE to HNT
is decreasing. As long as there is HNT in the MOBILE treasury, the MOBILE token will
have a value.

No automatic or required migration from MOBILE to HNT is planned.

The [Helium Wallet App][wallet-app] serves as the primary platform for exchanging MOBILE to HNT.
This transaction can also be performed directly through the Solana blockchain using the open-source
Expand All @@ -57,21 +72,24 @@ operations fund administered by the Helium Foundation. A fraction of this alloca
throughout the Genesis period to live Mobile Network Hotspots. Year 1 for MOBILE started on August
1st, 2022 with the first tokens minted on August 12th, 2022.

The issuance is scheduled to have halvings every 2 years, aligning with HNT issuance halvings.
The issuance was scheduled to have halvings every 2 years, aligning with HNT issuance halvings. From January
2025 the emissions percentages will remain the same but rewards will be directly in the HNT Token.

The emission schedule was created in [HIP-53][hip-53-emissions], updated in
[HIP-75][hip-75-emissions], confirmed in [HIP-77][hip-77-emissions] and updated in [HIP-79][hip-79].
It is as follows:

| Year | MOBILE at Year Start | MOBILE Minted | Proof of Coverage <sup>(</sup>[^5]<sup>)</sup> | Hotspot Data <sup>(</sup>[^5]<sup>)</sup> | Mappers | Service Providers | Oracles <sup>(</sup>[^6]<sup>)</sup> | veHNT Stakers |
| ---- | -------------------- | --------------------------------- | ---------------------------------------------- | ----------------------------------------- | ------- | ----------------- | ------------------------------------ | ------------- |
| 1 | 50B | 110B <sup>(</sup>[^7]<sup>)</sup> | 20% | 40% | 20% | 10% | 4% | 6% |
| 2 | 110B | 30B | 20% | 40% | 20% | 10% | 4% | 6% |
| 3 | 140B | 30B | 20% | 40% | 20% | 10% | 4% | 6% |
| 4 | 170B | 15B | 20% | 40% | 20% | 10% | 4% | 6% |
| 5 | 185B | 15B | 20% | 40% | 20% | 10% | 4% | 6% |
| 6 | 200B | 7.5B | 20% | 40% | 20% | 10% | 4% | 6% |
| 7 | 207.5B | 7.5B | 20% | 40% | 20% | 10% | 4% | 6% |
| Year | MOBILE at Year Start | MOBILE Minted | Proof of Coverage <sup>(</sup>[^5]<sup>)</sup> | Hotspot Data <sup>(</sup>[^5]<sup>)</sup> | Mappers | Service Providers | Oracles <sup>(</sup>[^6]<sup>)</sup> | veHNT Stakers |
| ---------- | -------------------- | --------------------------------- | ---------------------------------------------- | ----------------------------------------- | ------- | ----------------- | ------------------------------------ | ------------- |
| 1 (2022-8) | 50B | 110B <sup>(</sup>[^7]<sup>)</sup> | 20% | 40% | 20% | 10% | 4% | 6% |
| 2 (2023-8) | 110B | 30B | 20% | 40% | 20% | 10% | 4% | 6% |
| 3 (2024-8) | 140B | 30B | 20% | 40% | 20% | 10% | 4% | 6% |
| 3 (2025-1) | 155B (to 29th) | AS HNT | 20% | 40% | 20% | 10% | 4% | 6% |
| 4 (2025-8) | N/A | AS HNT | 20% | 40% | 20% | 10% | 4% | 6% |
| 5 (2026-8) | N/A | AS HNT | 20% | 40% | 20% | 10% | 4% | 6% |
| 6 (2027-8) | N/A | AS HNT | 20% | 40% | 20% | 10% | 4% | 6% |
| 7 (2028-8) | N/A | AS HNT | 20% | 40% | 20% | 10% | 4% | 6% |


> Full token emissions can be viewed in the MOBILE section of this document: [Token Emissions as of
> Solana Migration][sol-emisions]
Expand Down Expand Up @@ -103,3 +121,7 @@ It is as follows:
[sol-emisions]:
https://github.com/helium/HIP/blob/main/files/0077/token-emissions-as-of-solana-migration.pdf
[wallet-app]: /wallets/helium-wallet-app
[hip-138]: https://github.com/helium/HIP/blob/main/0138-return-to-hnt.md
[hip-51]: https://github.com/helium/HIP/blob/main/0051-helium-dao.md
[hip-141]:
https://github.com/helium/HIP/blob/main/0141-single-token-governance-and-release-proposals.md#migrating-to-a-protocol-score-based-only-on-delegation