July Larynx Token Claim - earn staking reward by powering up your LARYNX tokens

You can earn 50% more by delegating to a network provider account

Before claim.jpg

Today is the last date to claim your Larynx Tokens for July, as this month is ending today. I have been claiming my Larynx tokens every month, without fail. You can see your claim status on the 3speak dashboard telling you exactly in terms of months. So this is the screen shot after claim and it shows me I last claimed in July and if you have claimed every time, then you should see like 34567 times. So in total, I have claimed for five months, and the number starts from 3 ( because of 2 claims on test net before the actual claim). I wish, @threespeak makes it better to tell us in terms of months, like Dlux dashboard. Click on the Claim button and it will need you to log in to HIVE Keychain to broadcast the transaction. HIVE Keychain just needs your posting rights to perform the transaction, so you can just import the posting key to Hive Keychain and the transaction goes through saying it has been broadcasted. The 3speak dashboard gets updated quickly to show your current claim, but it still shows the Claim button (which I expect to be fixed - should not it be hidden ?) . You can also see your claim status by checking your balance on the Dlux dashboard by going to : https://spk.dlux.io/ . Again this also will use Hive Keychain, and you can see the balance like this :

Balance Larynx July.jpg

If for some reason, you are not able to use Hive Keychain, then here is the old post that mentions a direct method :

@spknetwork/how-to-claim-larynx-step-by-step-tutorial

Now coming to the usage of these Larynx tokens, if you see the latest post from @spknetwork, then there are some promising news coming up and things getting built on the SPK network.

There are three token types in our proposed ecosystem. LARYNX, SPK, and BROCA. LARYNX is the miner token with an ongoing airdrop that can be claimed monthly. SPK is the governance token that will help turn our HIVE "side-chain" or "layer 2" into a DPoS (Delegated Proof-of-Stake) layer 2. This current change being tested allows our Larynx miner stakers to earn a very small amount of SPK to build a seedling governance. At our proposed distribution rates of 0.1, 0.015(x2), and 0.01%, we will expect no more than 15,000 SPK tokens to be minted by the next release; after which these tokens will vote a top 20(and even the number 20) which will then vote for the networks validators and other key network variables.

Yay, Larynx miner stakers can earn SPK token and contribute towards building the seedling governance. It is small, but hey it is something that we are earning for free. And the test net is already live and as per the post, it is not expected to last very long.

Now that you've powered up your LARYNX tokens, you're earning the base staking reward of 0.01% APR on your powered tokens. You can earn 50% more by delegating to a network provider account. You'll both earn 0.015% on the delegated amount. In the future, we hope this encourages network providers to provide better infrastructure and services without having to finance virtual miners and provide real services.

So the good news is that, we can earn SPK tokens by just delegating to network providers. And since the top 20 will vote for the network validators, there will be some good competition there, once its live. So indirectly, we are going to contribute to the governance model.

So ready for the next decentralized Web 3.0 protocol ? As I wrote in my last post, I am going to speak in the first web 3.0 meetup at my place next week and people are now actively looking for Web3 solutions - its in fact quite a buzz now a days. Together we will take over these Web2 companies - slowly but surely.

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copyrights @sanjeevm - content created uniquely with passion for #HIVE platform — NOT posted anywhere else! #HIVE is my only social diary - my blog is my life.

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