The SPK Network recently enabled all LARYNX holders the capacity to Power Up their Liquid LARYNX tokens into LARAYNXPOWER and then delegate that LARYNX POWER to SPK node runners.
Previously you had to run a SPK node to be able lock/ Power Up LARYNX and earn, but now you can ean just by Powering Up (without running a node) and you can earn 50% more by delegating to a Node.
Given that I run a SPK node I'm writing this not just to spread awareness, but also out of enlightened self-interest, as obviously I'd like you to power up and delegate any LARYNX you've got to revise.spk (my node!).
How to Power up and Delegate Your LARYNX
Step One - log into your SPK wallet
Go to this site: https://vue.dlux.io/me#wallet/ and log into your DLUX/SPK wallet...
NB there is another SPK front end and the Vue Dex which allow you to claim/ buy LARYNX but you need to be in the dedicated wallet area to be able to Power Up LARYNX.... so basically the link right above!
Step Two - select the SPK token option
Make sure you've got the SPK token selected - at time of writing this is the middle option...
Step Three - POWER UP yer LARYNX
This will convert your LARYNX to LARYNX POWER.
NB it may take a few seconds for this Power Up to take place.
NNB - As with most other second layer tokens, this has a 4 week Power Down Period.
Step Four - Delegate your LARYNX POWER to revise.spk
Alternatively you can choose any other node operator, I'd just suggest that you pick one that's colour coded green meaning they are running the latest software and are in consensus.
Rewards for Delegating
The APR for both node operators and delegators are very low in these early days - it's just a trickle at first, the advantages for Powering Up and Delegating come in decision making at first.
The SPK rewards to LARYNXPOWER holders are distributed as follows:
- 0.1% APR to Node operators
- 0.03% for delegated LARYNX - split 50-50 between delegator and node operator
- 0.01% for those who just power up LARYNX.
This means that if you delegate to a node operator you get 50% more than just powering up!
Details of the rewards can be found here.
Why Delegate to revise.spk
Firstly, my node is currently fully updated to version v1.1.0r3 and in consensus.
Secondly, I keep an eye on how the SPK network is progessing and do try to update the node promptly, which I've learned basically iinvolves typing 'git pull' in the middle of a few other commands, which I think qualifies me as technically competent to run a node.
Thirdly, I've got just over 80K SPK piled into my node out of my own pocket, so I put my monies where my node is.
Fourthly, there's a few nodes with more power than me so you'll be helping decentralisation if you delegate to me now.
Fifthly, I've been around Hive a while and I'm a nice guy so I am worth it!
Find out more
The original instructions post is here: SPK network is going live
For the full list of node operators and their status - you can go here: https://hiveuprss.github.io/spkccmonitor/?node=https://spktoken.dlux.io