Original source

Summary

Primary-source vote-tally screenshots from the Helium Vote governance portal for HIP-143 (Decoupling Service Provider Pricing from Governance). The vote occurred April 3, 2025 at 1:13 PM. The proposal passed overwhelmingly (90.53% for) — but the voter breakdown shows the proposer (Nova Labs) and a co-author (ferebee) controlled 50% of the yes votes via their own proxies.

Key Points

Vote tally:

  • For HIP 143: 691,254,123.19 veHNT (90.53%)
  • Against HIP 143: 72,249,632.58 veHNT (9.46%)
  • Total veTOKENS cast: 763,503,755.78
  • Approval threshold: 67% of voting power; quorum: 100,000,000 veHNT — both met decisively.
  • Vote date: April 3, 2025 at 1:13 PM

Voter concentration (top 6 voters, all proxies):

ProxyVotePower% of Total
Nova LabsFor199,790,816.87 veHNT26.00%
ferebeeFor183,846,182.84 veHNT24.00%
HKcAP…NxqoJAgainst63,622,983.73 veHNT8.00%
93Dz8…dScH8 (no proxy name)For43,969,699.22 veHNT5.00%
Jay M.For40,119,856.34 veHNT5.00%
95VLQ…fpbG7 (no proxy name)For25,246,965.95 veHNT3.00%

The proxy concentration finding:

  • The Nova Labs proxy and the ferebee proxy together controlled 50% of all yes votes for HIP-143.
  • HIP-143 was authored by “Inversion Capital, zer0tweets, Nova Labs, ferebee” — so the two largest “yes” proxies represent the proposing entity (Nova Labs) and a co-author (ferebee).
  • The proposal granting Nova Labs unilateral pricing authority was approved by votes Nova Labs and its co-author controlled.
  • The single largest “against” vote was an anonymous proxy at 8.00% — no organized opposition above that threshold.

Provisions of the proposal (from companion proposal text):

  • Nova Labs authorized to negotiate Data Transfer pricing with mobile network operators without involving Helium governance.
  • Nominal rate of $0.50/GB preserved (HIP-53); Nova Labs can adjust Rewarded vs. Unrewarded Data ratio (HIP-129).
  • 1-year delegation period from implementation; auto-renews for additional year if no overriding HIP passes.
  • As of Q4 2025 (Messari report), no superseding HIP had been passed — auto-renewal would occur around April 2026.

Newsletter Angles

  • The proxy voting is the smoking gun. The “DePIN mullet” thesis (centralized control dressed as community governance) is documented one level deeper: in the case of HIP-143, the entity authorized by the proposal controlled 26% of the votes approving it. The co-author controlled another 24%. The proposal couldn’t have failed.
  • The veHNT design — voting power scales with lock duration up to 4 years — concentrates governance with whales who can lock for the longest periods. The 90.53% approval looks like community consensus until you see that two proxies = half the yes votes.
  • Total turnout was 7.6× the 100M veHNT quorum. High formal participation, extreme concentration. This is what “decentralized governance” produces at scale.

Entities Mentioned

  • Nova Labs — proposer and 26% of yes votes via own proxy
  • Helium Network — the protocol being governed
  • ferebee — co-author of HIP-143; 24% of yes votes via own proxy

Concepts Mentioned

  • DePIN — governance theater documentation
  • Tokenomics — veHNT lock-duration voting power concentration

Notes

Primary source: two PNG screenshots of the Helium Vote portal preserved at raw/assets/. The vote portal is JS-rendered and could not be scraped automatically — the user manually captured the vote breakdown.

The proxy names are public on-chain identifiers. “Nova Labs” appearing as a proxy label means the wallet address voluntarily set its public proxy name to “Nova Labs” — this is the corporate entity behind the proposal acknowledging its own vote, not an inference.