Discovering Second Layer Tokens

Discovering the second layer tokens 1.png

Believe it or not but there hasn't been a single day that I haven't learned or discovered something new while doing my things on Hive. Usually, these discoveries have something to do with layer 2 projects.

Just out of sheer excitement, I'd like to share a couple of these interesting finds.


MUSIC

Just over a week ago, I wrote this article about Jimi Hendrix which I posted on the Music community. After the payout, I noticed I had received MUSIC tokens on Hive-Engine.

blocktuneslonglogo-768x210-removebg-preview.png

By clicking the tokens info button on H-E I found my way to BlockTunes. There I discovered their front end and found more information about the token and its use cases.

MUSIC can be used to stake and earn SWAP.HBD rewards from the BlockTunesDAO and can also be used to purchase music NFTs from the BlockTunes Hive based NFT Marketplace.

I've been planning on being more active in the Music community and actually have some pretty decent ideas for articles in the drawer. To be honest, I didn't even know that there was a MUSIC token so this is a great example of how you can find interesting tokens just by accident.

The discovery of MUSIC tokens can incentivize and motivate me to pick up my courage and pick up those drafts from the bottom of the drawer.


INDEX

This one I discovered while I kept constantly bumping into a hashtag #Index4Index. Discoverer by nature, I wanted to find out more, and through @tydynrain 's post, I ended up reading @jongolson article about the project.

It's such a great initiative and even though I haven't yet participated in the project itself, I did my research about the Hive-Engine INDEX Token. According to their website, the INDEX token represents the best performing tokens on the H-E market. It is 100% backed by the tokens it represents.

For every INDEX purchased, a weight is given to the individual tokens represented, INDEX then purchases the corresponding weight of each token.

index.png

You can earn INDEX by taking part in the #Index4Index project or just simply buying some on the market as I did.

I find both the project and the token really interesting and also, in this case, the interest in the token will encourage me to take part in the project and who knows where that might lead me!


GLX

I'm pretty sure that many of you are familiar with the GLX token since the hype seems to be all over the place. I don't remember the exact moment when I first heard about it but that joyous feeling of discovery came from learning that I can benefit from my SPS staking.

GLX-removebg-preview.png

Genesis League Sports is an upcoming play2earn sports platform and ecosystem. There is the Splinterlands team behind it so it's understandable that there is a lot of excitement and expectations around the project.

If you are staking SPS on Splinterlands you can earn GLX tokens through the still ongoing airdrop. Those tokens you can then stake here to earn even more GLX.

This useful calculator(thank you, @mypathtofire!) will help you find out how much SPS and GLX you will be earning from staking both tokens.


Conclusion

So, tokens can lead you to projects and projects to tokens. Either way, being eager to learn and discover while navigating through Hive can lead you to something new and exciting every day.

These are just a few examples of many projects on the Hive ecosystem. I'm always willing to learn about new ones so do drop a comment about your discoveries!

Note that this is not financial advice and you should always do your own research.

Thank you for reading!

LeoLighthning.png

CREDITS:

Thumbnail image made with Canva
MUSIC logo: source
INDEX logo: source
GLX logo: source

Posted Using LeoFinance Beta



0
0
0.000
27 comments
avatar
(Edited)

🍕 PIZZA Party!

I gifted $PIZZA slices here:
@pregosauce(3/5) tipped @brando28 (x1)
brando28 tipped cryptothesis (x1)
cryptothesis tipped brando28 (x1)
brando28 tipped mypathtofire (x1)
brando28 tipped tydynrain (x1)
brando28 tipped idksamad78699 (x1)

Please vote for pizza.witness!

0
0
0.000
avatar

I'm just knowing about the music token, i never thought they existed even tho there's a music community. You can never be to update when it comes to Hive. There's always something to learn about everyday.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Me neither! 😀 I'm amazed to learn how vast the second layer is and it's crazy how you learn about new stuff every day.

0
0
0.000
avatar

Exactly!

Would love to see that music blog btw, I love music more than anything in this life lol.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Thanks for sharing!

I would be keen to know about your allocation to these tokens, and why.

For me, I am bullish on LEO!

!PIZZA

0
0
0.000
avatar

You are welcome!

My allocation to each one of these is pretty small, just a couple of $ each. The reason for that is I just recently discovered them and just monitoring how they are paying.

The reason for jumping into these is to create small passive income streams. In the long run, if it seems to be a good investment, I'll keep adding up.

Also bullish on LEO!

!PIZZA

Posted Using LeoFinance Beta

0
0
0.000
avatar

Great. I'm always into Tokens! Just let them sit in wallet and hopefully Gonna moon someday !LOL

0
0
0.000
avatar

And the best part is that most of the layer 2 tokens are not just sitting but also working as being staked and/or delegated!

!PIZZA

0
0
0.000
avatar

I love reading your posts brother, and this one was no exception! I'm happy that you discovered something interesting and useful from what I posted. Yay! There are so many cool HE projects and tokens (over 600!) that I find myself discovering and learning about new ones all the time too! 😁🙏💚✨🤙

0
0
0.000
avatar

Thank you very much, bro! 😊 I found it very useful so thanks for that too! It's really interesting to do research on the HE tokens and projects, such a vast space! I could spend days doing that :D
!PIZZA

0
0
0.000
avatar

Thank you very much, bro! 😊 I found it very useful so thanks for that too! It's really interesting to do research on the HE tokens and projects, such a vast space! I could spend days doing that :D

Well then it's mutual! I love exploring the nooks and crannies of the Hive Engine, and Hive in general! I love the vastness of this amazing blockchain ecosystem! 😁🙏💚✨🤙

0
0
0.000
avatar

Yes, it's like the new frontier, a virtual frontier! 😃👍

0
0
0.000
avatar

Hadn't heard of MUSIC - what a great way to support people being involved with great content. Thanks!
!PIZZA

Posted Using LeoFinance Beta

0
0
0.000
avatar

New to me too, but seems cool!
!PIZZA

0
0
0.000
avatar

Nice post, @brando28.
I am familiar with GLX and Index.
Not so much on Music. I will need to check it out
Thanks for the information.

!CTP

Posted Using LeoFinance Beta

0
0
0.000
avatar

You're welcome! Thanks for stopping by. !PIZZA

0
0
0.000