Join 96,102 users already on read.cash

How to: Power Up and Delegate your LARYNX

0 14
Avatar for Arc7icWolf
Written by   2
2 days ago

 

What's the SPK Network?

 

According to its Light Paper, the SPK Network is

a decentralized Web 3.0 protocol that rewards value creators and infrastructure providers appropriately and autonomously by distributing reward tokens so that every user, creator, and platform, will be able to earn rewards on a level playing field.
[...] the SPK Network aims to offer decentralised storage, Token Creation, NFT creation, Immutable Breakaway Communities and direct digital ownership of the creator's account and digital assets on a Web 3.0, DPoS protocol where the creator cannot be censored by centralised gatekeepers.

 

And is there a token?

 

The SPK Network is fueled by more than one token: the more notable ones are LARYNX and SPEAK (SPK).

The first one can be used to mint the latter - it's in fact a miner token - while the SPK is the governance token of the SPK Network.

To mint SPK tokens you have to first Power UP your LARYNX tokens and then delegate them to your preferred node operator.

 

Ok, but first... how do you get LARYNX!?

Official LARYNX logo by @charsdesign



Right now there are two ways to get LARYNX:

  1. You can trade it on vue.dlux.io (LARYNX/HIVE and LARYNX/HBD pairs)

  2. Or, if you had some HIVE (liquid or powered up) in your wallet on January 9, 8:00 UTC, you were eligible for the LARYNX airdrop, so you can check here on how to claim your reward for free every month untill the end of the airdrop!

N.B. I said "right now" because in the future LARYNX will be obtained by sending HIVE to the Service Infrastructure Pool (SIP), which

is a revolutionary new way to use DeFi (Decentralised Finance) staking pools to fund a project's activities and incentivise Breakaway Communities and their content in a sustainable, deflationary way which locks in liquidity permanently.

 

How to Power Up your LARYNX tokens

 

Keep in mind that the SPK token isn't still available as its release is planned for Tuesday, August 9, 2:00 UTC: right now you can only test and start getting used to the process, but SPK tokens won't be earned untill the release of the token.

So, set your alarm and be ready to officially delegate your LARYNX this Tuesday!

Now, let's see how it works!

 

 

1 - Go to your wallet on dlux and log in into your Hive account

 

2 - Click on "Power Up"

 

N.B. Do NOT click on "Lock liquidity", as locking is only for node operators.

3 - Choose the amount you'd like to power up and continue

4 - Now, scroll down and click on "Delegate"

 

5 - Choose the amount and the node operator you'd like to delegate to (here you can find the official list with some data), than confirme

 My to go node operator will be @pizza.spk :)

6 - Well done! LARYNX Delegation completed :)

  

As you can see, the delegation process is easy and straightforward, while the project itself seems interesting and worth following its progress!

If you can't see your delegation, try waiting a minute and refreshing a few times the page: it should fix the issue.

 

WEN LAMBO?

 

As said above, by delegating your LARYNX you start minting SPK tokens: the proposed APR is currently set to 0.03%, split between the delegator and the delegatee, 0.015% each.

This rate is calculated daily, and is non-compounding, based on Powered Up LARYNX only.

 

Call to Action!

 

At the following links you can check the roadmap and the official site.

You can also follow @spknetwork to get all the updates here on Hive and you can participate in the recent "Call to Action" to support the project and receive upvotes from @theycallmedan and @threespeak .

#Hive #SPKNetwork #SPK #SPKisAlive


Article available on:

1
$ 0.00
Avatar for Arc7icWolf
Written by   2
2 days ago
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments