Helium utilizes Modular Governance which is an openapplication built by the Helium Foundation to organize and manage vote escrow tokens, delegation,and more. Modular Governance is deployed as Helium Vote. Positions can becreated and later managed within Helium Vote at any time at heliumvote.comor within the Helium Wallet App.
Creating a Position
Anyone with HNT, MOBILE, or IOT tokens in their Helium Wallet App or Solana-compatible browserwallet (such as Phantom or Backpack) can create a position. These positions can be used for votingin Helium Network or subnetwork governance.
In the case of positions created from HNT, the position can be delegated to asubnetwork in order to reinforce that network's protocol score and earn a portion of its tokenemissions. While IOT or MOBILE positions can be created through their respective subnetworks, thosepositions are only eligible for voting power and cannot currently be delegated for the purposes ofearning rewards.
This guide outlines using Helium Vote with the Helium Wallet App. Touse Helium Vote on a desktop browser, a Solana-compatible browser wallet can be used (such asPhantom or Backpack) by navigating to heliumvote.com.
Staking in the Helium Wallet App
Staking in the Helium Wallet App can be done by navigating to the "Governance" tab within the HeliumWallet. Ensure you select the token you want to lock up (HNT, MOBILE or IOT) at the top.
Once in the "Governance" tab, you will see "Your Voting Power". Click "Your Voting Power" to seeyour total voting power, and for the ability to lock HNT/MOBILE/IOT.
As long as HNT, MOBILE or IOT is available in your linked account, new positions can be created bytapping on the "Lock Tokens" button within the governance view.
Lockup Period
To build a secure voting system, Helium gives priority to votes from token holders willing to alignthemselves with the long-term health of the Helium Network. This is done by allowing holders to lockup their tokens to receive a vote-escrow position in proportion to the amount of tokens and timeallocated to the position. The longer tokens are locked up, the greater the vote power of theposition.
Two lockup period types are available.
Decaying
Tokens are locked for a fixed duration and are released in full at the end of the defined lockupperiod. Vote power declines linearly until release. This effectively starts the cooldown at themoment of lockup.
You will be required to close the position to return the locked HNT to your wallet after thecooldown period has ended.
Constant
Tokens are locked indefinitely. At any time you can start the unlock process, which lasts for theinitially chosen lockup duration. Vote power stays constant until you start the unlock process, thenit declines linearly over the lockup period until release.
Duration
The duration of your cooldown is set in units of days. The longer your tokens are locked up, themore veHNT/veMOBILE/veIOT will be issued. If you chose the 'Constant' lockup period, this durationtakes effect after the 'Unlock' action is executed.
While it is possible to set a higher duration than 4 years, no additional vote power multiplier willbe added.
Vote Power Multiplier
veHNT/veMOBILE/veIOT positions can be strengthened by increasing the duration that they are lockedfor. The resulting multiplier designates the amount of vote and delegation power (delegate poweronly applicable to veHNT) of the position. It is not indicative of an investment return.
In other words, if you locked up 10 HNT for 6 months, you'd get the same 10 HNT back 6 months later.During this time you would be able to delegate your position to a network toget a return in that network's tokens.
Positions created during the landrush period received an additional 3x multiplier onthe overall lockup multiplier.
Delegating to a Subnetwork (veHNT Only)
A position will not earn any token return until it is delegated to a subnetwork. A position withoutdelegation earns voting rights, but no token return.
Once you select how much HNT you want to lock up, an interface will appear to allow you to delegateyour veHNT to a subnetwork for rewards.
Confirming your Position
Once parameters are settled in the Helium Vote UI, you are now ready to create yourveHNT/veMOBILE/veIOT position.
The Helium Wallet App will ask for confirmation before issuing the Solana transaction that createsthe veHNT/veMOBILE/veIOT position.
Managing Positions
Undelegating veHNT
Once a position has been delegated, it can be undelegated in the same interface. Delegations can bechanged at any time, however, it will take one epoch for the position to be available forredelegation. The position must be delegated for the entire epoch to receive rewards for that epoch.Received rewards need to be claimed manually. Only then will they be sent to the wallet the veHNTposition is in. A delegated position can only be undelegated after all accrued rewards have beenclaimed.
Splitting a Position
A position can be divided among multiple positions. This can be helpful if you wish to delegate yourveHNT position to multiple networks (IOT or MOBILE) or set different lockup times to differentpositions.
Be warned, splitting a landrush position after the initial 10 day period will result inlosing the multiplier for the position being split or transferred off the position.
You must undelegate before splitting a position (veHNT only). You can redelegate after the split iscomplete.
Positions that are in any active votes cannot be split. To change a position during a vote it mustbe relinquished from the active vote.
Transfer a Position
Positions cannot be transferred from one account to another. Positions can only be transferred fromone position to another within the same account. Positions can only transfer to positions of greateror equal duration. This functionality is useful for consolidating positions. Landrush positionscannot have more locked tokens transferred into them after the landrush period. Any veHNTtransferred out of a landrush position will lose the 3x multiplier bonus.
If a veHNT position, you must undelegate both positions before transferring. Once you've undelegatedyour position, you can click on your locked position to delegate your position to a new subnetwork.
Extending a Position
Extending a position will lengthen the time it will take to cooldown. Position holders may extend aposition to gain a larger multiplier for voting power or delegation purposes.
Unlocking a Position (Cooldown)
Before a position can become unlocked, you must first undelegate any delegations you have toexisting subnetworks. If a position was created with a 'constant' lockup period,the ability to 'Unlock' the position will be visible in the position as long as the unlock has notyet been initiated. A constant lockup position will first need to be unlocked before the cooldownperiod begins.
Unlocking the position will begin the cooldown decay process. The time this takes is the lockupduration set during the creation of the position. Vote power value will decay to 0 during thiscooldown period.
You will be required to close the position to return the locked up HNT/MOBILE/IOT to your walletafter the cooldown period has ended. You must claim all tokens from the position and undelegate theposition before the Close Position button is available as an option.
Landrush
For the first 10 days following the Solana migration, HNT holders were eligible to lock up their HNTfor a 'landrush' bonus multiplier of 3x on the amount ofveHNT.(1,2)
If a landrush position is split after the first 10 days have lapsed, or if HNT is transferred from alandrush position into another position, the landrush bonus is forfeited on the HNT leaving thelandrush position.
No HNT can be added to a landrush position.
Automatically Created Validator Positions
For token holders operating validators through the Solana migration, a veHNT position wasautomatically created based on the existing staked position previously tied to validators. TheValidator migration guide is a valuable reference inunderstanding specific details for former Validator operators.
These positions are not automatically delegated to a subnetwork and are set with a constantlockup period by default.
As a note, these Validator positions will appear as one large position.
Possible Errors
Insufficient SOL Balance
Creating new veHNT/veMOBILE/veIOT positions requires more SOL than standard token claims oraccount-to-account transfers. To lock up your HNT you will need approximately 0.006 SOL in youraccount to create the position. If you do not have enough SOL and proceed with the transaction, anotification will appear and allow you to swap a portion of your existing HNT/MOBILE/IOT to SOL toproceed with the transaction.
