So the first round of LARYNX miner tokens goes out tomorrow,
but who is Lary and why is he non-expendable?
This airdrop is split into 12 claims, one for each month.
Burning LARYNX tokens for mining results in the tokens being permanently locked into accounts from which they cannot be withdrawn.
If you actually want to mine they get locked permanently.
From a logical point of view, doesn't make a whole lot of sense.
Physical miners could be sold whenever someone wants.
From a game-theory perspective, it's good to lock them to avoid scalpers.
The more LARYNX burned for mining, the more profitable/efficient the mining becomes.
Again, from a logical point of view, miners don't become more efficient in bulk. Although buying power in bulk might get you a discount and other things in bulk can increase efficiency in the real world, LARYNX mimics this by rewarding heavy purchases. Again, this mechanic will certainly create demand and a volatile market as users attempt to discover the price of these things.
The only way SPK Governance tokens can be earned is by staking LARYNX Miner tokens and running SPK Network Peer to Peer infrastructure nodes.
The grammatical error here makes it extremely confusing. There should be a comma before the 'and'. There are two ways to earn SPK, you don't have to do both of these things at the same time to earn SPK. SPK will be the governance token... so it will be pretty damn important in many circumstances. Still, I have to wonder if people are going to go apeshit on the miners and then dump the SPK they mine trying to recover the loss at the beginning.
Should be a pretty weird price discovery phase with a lot of volatility all around. If I can buy SPK directly for cheap because the draw of passive income jacked up the price of the miners... that'll def be the way to go. We'll see I guess. SPK is deflationary so calculating total ownership of the network shouldn't be that hard.
Sending HIVE to the SIP (Service Infrastructure Pool) - a percentage of the HIVE is auto sold for SPK, and a percentage is sold for BROCA. These currencies are then respectively staked into the SPK-HIVE BROCA-HIVE and SPK-BROCA Liquidity pool pairs in the SIP permanently. The HIVE is exchanged using Auto Market Makers in the liquidity pools above.
Because if I recall correctly BROCA is the gas token... and it can be farmed automatically by staking SPK tokens... confirmed on https://spk.network/
Staked SPK regenerates BROCA over time. Broca then can be exchanged for services on the network
Considering this is a network that requires massive storage needs and financially incentivizes participation in the IPFS protocol (decentralized storage)... having SPK is going to be really important. Again, I think many people will gravitate towards the passive income of miners and probably be dumping a lot of SPK... which in turn could be staked for even more passive income with the actual bandwidth token. It's all very strange and we'll have to see it in action to know what strategy is best.
Got sidetracked there.
What I actually meant to say is that it's crazy to hear that there will be TWO BROCA liquidity pools; BROCA/SPK and BROCA/HIVE. That's pretty wild because that's not how we think of resource credits at all on Hive, even though BROCA has been compared to RCs a dozen times. There will actually be two liquidity pools right off the bat and they will be worth money immediately (because decentralized storage is no joke).
Also I was surprised to hear that one way to buy these things is to pump the SIP with Hive, getting both SPK and BROCA at the same time. Hive that enters the SIP is a PERMANENT bonding situation, and there is no way to get the Hive back out (short of dumping SPK or BROCA for it in the LP). Still, it seems like the way it's setup creates a blackhole for Hive that guarantees quite a bit of coins will be sucked into there.
Each year, the relative mining efficiency of old versions of LARYNX Miner Tokens drops slightly in order to mimic the relative efficiency improvement to the latest physical mining rigs in the real world. This creates a continuous demand for the latest LARYNX tokens and encourages additional permanent staking into the SIP.
Creating demand and outdating the people that got their first.
Seems like a good move.
So basically yeah LARYNX is a miner token... airdropped to all Hive holders. The way they interact with the system as a whole is pretty interesting. We'll have to see it in action to know for sure. I'll see you all at the airdrop claim tomorrow. Soon has become now. Tune in for more details.
