Helium Mobile, the provider of a unique cryptocurrency-driven cell plan, is witnessing a surge in new subscribers amid the remarkable price increase of its native MOBILE token. Responding to concerns over suspicious account activities, the company has introduced rule modifications affecting the crypto rewards payout system.
Adjustment to reward payout rules
As of December 18, Helium Mobile’s terms of service now require new subscribers to wait eight days before claiming any MOBILE tokens earned through the Discovery Mapping feature. This adjustment aims to address challenges arising from the rapid growth of Helium’s partially crowdsourced cellular network, which utilizes a combination of T-Mobile towers and individual-hosted Helium hotspots.
Since the nationwide launch in early December, Helium Mobile has experienced a substantial influx of new customers drawn by its cost-effective phone plan and the unique incentive structure involving cryptocurrency rewards. Users participating in Discovery Mapping currently earn over 2,000 MOBILE tokens daily, a rate that can cover the $20 monthly subscription fee in just two days.
Addressing suspected token farming
Coco Tang, the director of product for Nova Labs, Helium Mobile’s parent company, acknowledged the company’s awareness of some suspicious sign-ups. Reports surfaced about users exploiting the system by farming MOBILE tokens for seven days, subsequently canceling their phone plans and obtaining a full refund along with potentially significant MOBILE token profits. The recent rule adjustments are implemented to curb such exploitation and ensure fair participation.
Despite the positive impact of the soaring MOBILE token prices, concerns about the integrity of the user base prompted the company to take preventive measures. The boom in the token’s value, witnessing an increase of over 2,000% this month, has attracted thousands of new customers and substantially elevated interest in Helium Mobile’s mapping service.
Nonetheless, Helium Mobile finds itself navigating the challenges of rapid growth and increased attention driven by the remarkable performance of its native MOBILE token. The adjustments to reward payout rules demonstrate the company’s commitment to maintaining fairness and preventing potential exploitation.