HeliumHNT

Helium generated $9.2M in gross revenue from Sep 2024 to Jun 2026 (640 days), with $9.2M retained as net revenue. $9.2M accrued to HNT token holders. Its primary token utilities include Staking Rewards, Service Payments, Vote Escrow, and Delegated.

This averages $$14.3K in daily gross revenue across the tracked period.

HNT accrues value through 2 mechanisms: Buyback & Burn and Direct Token Burn.

• Buyback & Burn: Under HIP 138 ('HNT Returns'), subscriber USD revenue is routed to purchase HNT on the open market via Jupiter DEX using dollar-cost averaging, and the purchased HNT is then burned to create Data Credits.
• Direct Token Burn: Users and developers directly burn their own HNT holdings to create Data Credits for network usage, hotspot onboarding, and other protocol operations—a permanent one-way conversion with no reverse mechanism.

Yes, Helium burns or redistributes HNT tokens via Buyback & Burn, Direct Token Burn. In 2025, approximately $8.2M worth of value was returned to token holders through these mechanisms.

Yearly token holder distributions:

• 2025: $8.2M
• 2024: $988.7K

HNT serves 4 primary functions within the Helium ecosystem: Staking Rewards, Service Payments, Vote Escrow, and Delegated. The protocol generates fees from user activity, with a portion distributed back to HNT holders. Value flows back to token holders through Buyback & Burn and Direct Token Burn.

Token utilities:

• Staking Rewards: veHNT delegators earn up to 6% of each subnetwork's HNT emissions pro rata for delegating and actively participating in governance votes.
• Service Payments: HNT is burned to create Data Credits ($0.00001 each), the exclusive payment for all network services including IoT data transfer, hotspot onboarding, location assertion, and Mobile gigabyte usage.
• Vote Escrow: HNT holders lock tokens for 1 day to 48 months to receive veHNT voting power, with longer lockups yielding dramatically more weight (up to 100x at 48 months). Proposals require 67% supermajority and 100M token quorum.
• Delegated: veHNT holders can delegate their voting power to proxy accounts such as Nova Labs or other community representatives who vote on their behalf without requiring token transfer.

Value accrual mechanisms:

• Buyback & Burn: Under HIP 138 ('HNT Returns'), subscriber USD revenue is routed to purchase HNT on the open market via Jupiter DEX using dollar-cost averaging, and the purchased HNT is then burned to create Data Credits.
• Direct Token Burn: Users and developers directly burn their own HNT holdings to create Data Credits for network usage, hotspot onboarding, and other protocol operations—a permanent one-way conversion with no reverse mechanism.

Read our deep dive: Helium tokenomics analysis.

In 2026, Helium generated $0 in gross revenue.

Year-by-year revenue breakdown:

• 2025: $8.2M gross revenue — $8.2M to holders
• 2024: $988.7K gross revenue — $988.7K to holders

Helium's gross revenue has decreased by 100% over the past 90 days compared to the prior 90-day period, from $58.6K to $0.

• Recent 90d daily average: $0/day
• Prior 90d daily average: $651/day