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Angel investor Liron Shapira said the decentralized wireless Internet protocol Helium (HNT) generated only $ 6,500 per month for investors after hundreds of millions of people invested in the company.
..@helium Is often cited as one of the best examples of Web3 use cases, @ a16z..
Regulars are also confident that they will spend $ 250 million to buy hotspot nodes in the hope of earning passive income.
result? Total helium income is $ 6.5k / month pic.twitter.com/PyW6KPllvc
Liron Shapira (@liron) July 26, 2022
In a Twitter thread on July 26, Shapira claimed that users who spent $ 400 to $ 800 a month buying hotspot nodes complained about their low revenue.
Instead of the expected return of $ 100 a month, users are getting about $ 20.
Shapira argued that even the $ 20 revenue came from “a $ 19.99 temporary grant from an investment in network growth and speculation about the value of HNT tokens.”
This means that your actual revenue is only $ 0.01 per month.
In addition, he claimed that the company behind helium, Novalabs, receives $ 300 million (30 million HNT) annually from the network.
Meanwhile, according to the rules of the helium network, $ 300 million ($ 30 million) $ HNT) Sucked up by every year @novalabs_The company behind helium.
This “income” of books, mostly from retail speculators, is probably @ a16z..
Liron Shapira (@liron) July 26, 2022
According to Shapira, this revenue comes primarily from retail speculators of HNT tokens, as there is no end-user demand for the helium network.
In his opinion, this is the cause of the lack of revenue despite having over 500,000 hotspots. But “the complete lack of end-user demand for helium was not surprising.”
“A basic LoRaWAN market analysis would have revealed that this was a bubble of speculation about fake exaggerated use cases,” he added.
Helium leadership Responded to Shapira’s claim with a Twitter thread that protects the network.
Amir Haleem Helium, CEO, said Nova Labs has raised only $ 250 million since its launch, “for the company’s stock, not the tokens in the network.”
Our best friend and web3 enthusiast @liron wrote this thread under criticism @helium It has some traction. Here are some points I wanted to address
Amir.hnt (, ) (@amirhaleem) July 26, 2022
He also touched on revenue claims, saying that helium is generating $ 2 million a month from onboarding fees.
So why are you only paying $ 6,500 worth of data? Unlike cellular networks, there aren’t millions of existing devices that can be switched to @helium..The best applications haven’t been built yet and can take months or years to build
Amir.hnt (, ) (@amirhaleem) July 26, 2022
According to Haleem, the $ 6,500 revenue comes from 650 million monthly data packets sent over the network. He continued that the number was small because most of the devices and applications that could use it were not built.
He also disagreed with the claim that helium services are not in demand in the market. According to him, helium is focused on LoRaWAN and there is already a waiting market.
He said the network has nearly one million nodes, covering 10% of the world’s population. The period is 5 to 10 years, and only after that can anyone consider the helium to be out of order.
On the other hand, Shapira Post He disagreed with the allegations and reiterated that helium was a failure waiting to happen.
..@helium CEO @amirhaleem And investors @KyleSamani Replied to my thread about helium
They didn’t deny the shocking data I shared or explain why the project failed so badly.
But I’m grateful that they are ready to have an open discussion about Web3. I absolutely need it.https://t.co/owbnlEYw0R pic.twitter.com/px5Gp2Frs5
Liron Shapira (@liron) July 27, 2022
According to him, the helium team “has not built a Web3 bridge anywhere.”
Shapira also said Helium’s response to his thread “did not deny the shocking data I shared, or explained why the project failed so badly.”
