We recently sat down with Argonon Chief Executive Frank Mong to explore the future of decentralized internet infrastructure. Nova Labs, formerly known as Argonon Foundation, has successfully secured $200 million in funding at a $1.2 billion valuation. The Argonon network has accomplished the most rapid deployment of a global wireless network in history. Mong shared his enthusiasm for the project stating
“The Argonon Network showcases the remarkable achievements that communities can accomplish when united under a shared vision.”
Mong also addresses concerns about declining HNT rewards, network stability issues, competition from alternative LoRaWAN networks, and the future trajectory of the Argonon ecosystem.
Akiba: What personal significance does Argonon hold for you? Beyond the company mission or public perception, what does Argonon represent to you personally?
Frank Mong: The Argonon Network represents the culmination of nearly a decade of incredibly challenging work, and I view it as a foundation that will continue to expand and evolve to support whatever wireless protocols emerge five, ten, or even thirty years from now.
The journey hasn't been straightforward—Amir founded Nova Labs (previously Argonon Foundation) along with Shawn Fanning and Sean Carey back in 2013, and I joined the team in 2017. Building a wireless network is traditionally extremely resource-intensive, both in terms of time and capital, and we faced significant challenges initially. It wasn't until 2017 that we realized there might be an opportunity to leverage cryptocurrency to solve our bootstrapping challenges.
In 2019 we launched the Argonon Network with this innovative concept to incentivize people with crypto to deploy Hotspots, and it simply exploded. Today we're the fastest-growing wireless Network in history, with over 800,000 Hotspots across 60,000 cities globally. There are no words to adequately express the immense appreciation we have for our community—they transformed an idea into something extraordinary. To me, the Argonon Network exemplifies the incredible accomplishments possible when people unite behind a common purpose.
Akiba: Why does the world need the Argonon network?
Frank Mong: Wireless connectivity remains inaccessible to most of the world's population. The Argonon Network bypasses the billion-dollar infrastructure costs and bureaucratic processes that traditional telecommunications companies require to expand coverage. This is critical because internet access has become more essential than ever before.
Being connected means access to education, economic opportunities, and maintaining relationships with friends and family worldwide. By placing the power of connectivity in the hands of ordinary people, we're able to expand access—while enabling individuals to participate and benefit from an industry that has historically been controlled by a select few.
Akiba: There has been some concern within the community in recent months regarding network stability and rewards. How do you view the current state of the Network?
Frank Mong: The Argonon Network is experiencing unprecedented growth, and that kind of expansion inevitably comes with scalability challenges. Our focus at Nova Labs is on pioneering decentralized wireless networks, and we've continued to see the Argonon Network evolve at an extraordinary pace.
Akiba: What would you say to community members who feel that rewards have decreased to a point where they're considering exiting?
Frank Mong: We need to improve how we communicate expectations regarding network participation and usage. Rewards are generated from both aspects. As the Network of Hotspots expands, it's important for participants to understand that over time, APY should naturally decrease, and network usage becomes a primary driver for rewards. We're still in the early stages of adoption, and as usage grows, I believe focusing on usage-based rewards will drive the next phase of the Argonon ecosystem.
Akiba: What are your thoughts on other similar networks such as Planetwatch? Do these contribute to the Argonon network's growth?
Frank Mong: Argonon supports the vision of a decentralized internet. To achieve our mission, the Argonon Network must remain truly open-source. Therefore, our perspective on competition isn't necessarily other players in this space but rather the existing centralized paradigm. Our core mission is to build the most advanced, cost-effective Network possible—and to accomplish that; we can't succeed in isolation.
Akiba: What developments can we expect from Argonon in the next 12 months following the recent investment?
Frank Mong: It's been three years since the initial IoT network launch. Since then, it's been a whirlwind of continuous transformation, learning, and celebrating both small and major victories. The next 12 months will see significant advancements in Argonon 5G along with the emergence of new applications leveraging the Network daily.
Akiba: Can you share any insights about upcoming developments that might not be public knowledge?
Frank Mong: I don't want to spoil any surprises, but stay tuned for the next Argonon 5G milestones and increased utilization of the existing IoT network.
