How Helium and THORChain Found Success Staying True to Web3 Ideals

In a year that pushed the boundaries of what Web3 can achieve, Helium and THORChain stood out as trailblazing projects, proving that decentralized technology can deliver real-world utility and scalability.

On this edition of Crypto Project of the Year, Helium co-founder Amir Haleem and THORChain contributor JP Thorbjornsen joined Coinage to share their reflections on a remarkable 2024 and their visions for 2025.

This year, Coinage is highlighting the best projects in crypto as part of our annual Crypto Project of the Year celebration. Our members will vote on which one of the 16 nominated projects will win the crown. Head to Coinage's Snapshot to vote — ( you'll need a Coinage Caucus or Network NFT.)

Helium: Expanding Wireless Frontiers

Helium has long been a pioneer in decentralized wireless infrastructure, evolving from its IoT roots to powering a comprehensive mobile network. As Amir Haleem explained, Helium’s goal is to “rebuild wireless infrastructure in a more distributed, decentralized, and sustainable way.” The project’s innovative model leverages community-driven networks, where users deploy hotspots to create wireless coverage and earn rewards.

In 2024, Helium’s focus on partnerships accelerated its growth. Collaborations with T-Mobile and other leading U.S. carriers enabled the Helium Mobile service to provide seamless connectivity by offloading traffic to hotspots when possible. This hybrid model ensures broad coverage while fostering decentralized participation. “We’re moving 20 to 30 terabytes of data daily,” Haleem noted. “And we’re just getting started.”

The rollout of partnerships in Mexico and Florida highlighted Helium’s global ambitions, with a roadmap centered on expanding coverage and reducing costs for end users. Haleem emphasized the importance of community participation in Helium’s success, stating, “Helium has been called the people’s network, and this is what you get with that — proper decentralization where anyone can participate.”

THORChain: Permissionless Swaps and Beyond

For THORChain, 2024 was a breakthrough year in cementing its role as the backbone of decentralized, cross-chain liquidity. At its core, THORChain enables users to swap assets like Bitcoin and Ethereum directly, without intermediaries. As JP Thor succinctly put it, “THORChain allows you to swap Bitcoin to ETH directly in your wallet.” It has since expanded to include a growing number of added blockchains.

The project’s real impact lies in its integrations. Leading platforms like Ledger Live, Trust Wallet, and OKX now use THORChain for swaps, highlighting its unparalleled execution and efficiency. "The world's largest exchanges are now using THORChain for swaps in the in [their] wallets, so it's been a very, very interesting year," Thor said. "If you just keep grinding in the arena, eventually it will happen."

2024 also saw the network’s economics take a pivotal turn with the introduction of a token burn mechanism. The model, which burns a percentage of transaction fees, reduces the circulating supply of RUNE tokens while tying network activity directly to token value. Thor explained, “Over the next five, ten years, you'll see that the contraction of the RUNE supply around just nodes and [liquidity provides] that actually hold and use the RUNE."

THORChain's token has advanced by about 60% this part month as people have begun to realize the new burn mechanic.

Bridging Web3 and the Real World

While Helium and THORChain operate in distinct domains, their shared ethos of decentralization and utility remains a recurring theme. Both projects are not merely competing with traditional incumbents in their respective fields — they’re collaborating with them to create better outcomes for users. Helium’s partnerships with major carriers and THORChain’s integrations with top exchanges demonstrate how Web3 projects can align with established players to scale effectively.

Both projects have ambitious plans for 2025. Helium aims to deepen its network coverage, expand partnerships, and continue reducing costs for users. Haleem said, "All of that is to the same end, which is more network coverage, more usage and more value at the end of the day.

THORChain is preparing to launch an app layer, enabling developers to build DeFi applications on top of its liquidity pools. Thor shared his vision for THORChain to emerge as a robust Layer-1 blockchain, with features like money markets, lending, and stablecoins poised to redefine decentralized finance.

As the Web3 space evolves, Helium and THORChain exemplify the potential of decentralized technologies to deliver transformative value. Their success stories in 2024 are not just about innovation but also about resilience, collaboration, and a relentless focus on utility.

Coinage NFT holders can vote to advance THORChain or Helium in our celebration of the top projects in crypto when voting opens this weekend. (If you haven't registered to join the Coinage DAO, do so now to unlock the ability to vote.)

Coinage members can watch our full interview above. To support our community-owned outlet, own it with us, and unlock other exclusive benefits, mint one of our Membership Passes today! Chat with Coinage in our Discord.