Amir Haleem, founding father of decentralized communications infrastructure challenge Helium (HNT), introduced that the challenge will discontinue its token buyback program.
In a social media submit, Haleem said that the market has not responded meaningfully to token buybacks and that it’s at the moment inefficient to allocate assets to this observe.
Helium and its cell enterprise, Helium Cellular, generated $3.4 million in income final October alone, in line with Haleem. The founders argued that it makes extra sense to reinvest this income instantly into rising the enterprise, somewhat than utilizing it as a value merchandise that “goes to the underside” with token buybacks.
In an announcement, Haleem additionally listed the corporate's priorities, saying it is going to direct all assets to rising the variety of Helium Cellular subscribers, increasing the put in base of the Helium community, and increasing offload utilization for operators. “We are going to focus our efforts on development till the market construction improves,” he stated.
In the meantime, Haleem added that the info credit score mechanism will proceed to perform because it at the moment does. Due to this fact, information credit used for operator offload operations will proceed to be burned as earlier than.
HNT costs fell 75% final yr.
*This isn’t funding recommendation.
