Rewards for Delegating LARYNX Tokens Are Coming... Sort of.

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I've seen a post earlier today put out by the @spknetwork account, where they propose the three rate tiers that will be paid to LARYNX holders who take a certain type of action within the SPK Network.

Besides that, the code that will make possible these interest payments was shared for public review.

If you look at the post you see this breakdown of rewards (as SPK tokens, calculated daily, without compounding):

  • node operators: 0.1% APR
  • delegators to node operators: 0.03% APR, split 50/50% between the delegator and the node operator (0.015% each)
  • power up LARYNX tokens on your account, which is not a node operator: 0.01% APR

Now, those numbers may strike you as odd. What do you mean 0.1% APR, 0.015% APR or 0.01% APR?

At first, I thought there must be some mistake. Maybe DPR (daily percentage rate) instead of APR (annual percentage rate)? Although for DPR, those rates would end up pretty high.

But no, after listening to the video (twice) and looking at the code, they are talking about 0.1% APR for the top tier.

Maybe I'm missing something here, but why did they go into the trouble of coding this for 0.1% APR? And for most people, 0.015% APR or 0.01% APR.

I mean, by powering up, one locks up his LARYNX tokens for 4 weeks.

Seems to be made especially for true fans and supporters of the SPK Network. I plan to hold my miners long-term but still don't like the idea of locking them up for practically little reason.

Anyway, that being said, it's a proposal, but from what I heard the rates are pretty much set. The code needs some public reviewing, after which the node operators will probably upgrade their nodes to this latest software version if they have no objections. So far every node runs previous versions, as you can see from below, but I assume switching to the new version won't start until the code changes are reviewed by more people:

image.png

The proposed version is 1.1.0.

After the node operators will switch their nodes to the latest version, the interfaces need to update, to support the possibility of powering up, powering down, and delegating LARYNX tokens, and to integrate the interest payment as well.

So, I don't think we can expect this by next week or something like that. Although, at 0.015% APR, I assume many will be disappointed.

How do you receive this news?

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30 comments
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Seems low Thanks for sharing on Listnerds have the best day
!ALIVE
!CTP

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Thanks for dropping by and have a great day!

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It is indeed very low (but may still be good for those who have lots of LARYNX rather than just keeping it idle)

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Yeah, I don't know if they are very happy with this either. But it's most likely a way to shift the major token holdings more toward those truly dedicated to the project, if there's going to be selling.

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Yes, that might be true. The ones who support the project will stay no matter how low the APR might be.

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I saw the news about it but I haven't really bothered as delegation rewards are not out yet.

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That's true, they aren't. But they are announced. But when we are talking about 0.1% APR max, that's not something to look forward to.

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This is ridiculous. I hope they have a plan in the future, like a retrodrop for their fans. Otherwise it doesn't make sense)
!СTP
!ALIVE

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I don't know. Maybe they are thinking the claimdrop is free tokens, and adding too much inflation on top of that would devalue the tokens even more. And SPK tokens are the governance tokens, so they probably don't want them to fall in the "wrong" hands.

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In that case, they may not fall into any hands...
!gif !LOLZ !meme

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Thanks for keeping us updated on Splinterlands. Learning more each day !

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Well... this is not about Splinterlands. :)

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Ah, i thought we got LARYNX tokens when we have SPT. Totally mixed up here. ! lol

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(Edited)

Nah... You (still) receive SPS airdrop for your SPT. You are able to claim LARYNX tokens every month based on your HIVE/HP holdings at the beginning of January. But they are totally different projects. One is Splinterlands, the other is SPK Network.

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Thanks Gadrian. Im just on my first week of Splinterlands. I will look out what the SPK Network is. I thought was the same thing. 👍

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Much Wow... Much APR... Why did they even bother with SPK and Ragnarok if both have no utility yet...

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What can I say, man? Waiting will kill us. But I heard patience is a virtue.

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