Why will the platform shutdown

As you all are aware, Nova Labs (Helium Inc) decided to discontinue Validators and also the Helium Blockchain. The entire ecosystem will move to Solana and because of this, there will be no need to run Validators for the Helium Blockchain. The process has been described and voted on HIP70. You can see the HIP70 description here. You can also read about the changes HIP70 adds here.


Because Validators will cease to exist in the new infrastructure, we will need to stop all validators and reimburse everyone's HNT back before the switch happens. 


    When will the Validators be unstaked

All validators of the pool were already unstaked and the HNT will get unlocked around 23rd of December 2022. You can check the remaining time until the HNT get's unlocked here. You need to click on one of the unstake transactions and that will show the remaining time until the HNT is unlocked.


    When will I get my HNT back

As the validators were already unstaked and the HNT will get around 23rd of December, we will resume the unstaking payments from that date onward. All unstakes will be processed in their queue order and it may take a couple of days to process all the payments in the queue. We estimate that all HNT will be reimbursed by the end of 2022.



    What do I need to do

You will have to login to your account and unstake all HNT that you staked with us. Once the 3 Months cooldown ends and all HNT is unlocked, our unstake processing script will transfer the HNT to each internal wallet. We will send an email to announce when this happens and you will need to transfer the HNT from the internal wallet to an external wallet. You can follow the guide for unstaking here.


Note: What you can do now to be safe, is to backup your internal wallet 12 words and keep them safe. If you have those, you will be able to import the wallet into a different application and transfer the HNT using that in case you didn't got to transfer the HNT in the timeframe that we will announce.




    Plan Summary

As a summary, the plan forward is as follows:

   1. Wait for the new 3 Month cooldown chain var to be updated on the blockchain. This should happen by the end of September 2022.

   2. Unstake All validators and wait for 3 months for all HNT to be unlocked

   3. Let everyone know that they should unstake all HNT they have staked on our platform.

   4. After the 3 months cooldown, when the HNT is unlocked, run the unstake parsing script. Right now this script is running automatically but we will stop this and we will run it manually and parse unstakes in chunks in order to make sure that everything works as expected.

   5. Send an email to announce to everyone that the HNT is in each internal wallet and let people know of a timeframe that our App will still be available for. Once that timeframe will pass, we will close all servers related to the Platform and you will not be able to login to the platform anymore. 

   6. Stop any remaining server that is running in order to keep the Platform online.