On March 27 the Helium blockchain will come to a stop. After the chain halt validators will stop producing blocks and transactions will not sync. A final snapshot of the blockchain will be taken after the migration of all accounts and tokens to the Solana blockchain, and hotspots will be minted as nonfungible tokens (NFTs).
After the migration to Solana Helium LoRaWAN miners will no longer earn HNT but will instead earn the IOT token for participating in the network.
At launch of the IoT subnetwork, 2.5% of the total supply of IOT tokens (5B tokens) are issued and airdropped to oracles and hotspots on the existing IoT network.
50% of the 5B tokens will be distributed to all active hotspots (rewarded in the past 30 days) and not on the denylist at the time of snapshot.
To receive the IOT airdrop your hotspot must have earned rewards within thirty days prior to the snapshot which was taken when the Helium blockchain was halted.
The number of hotspots online has been dropping recently and currently is at 44%. On March 27th if the same number of hotspots are online and have earned rewards in the last thirty days the IOT token drop could be approximately 5,750 tokens per hotspot.
Make sure your miner is online and receiving rewards to participate in this airdrop !
