Should you LOCK or Delegate your LARYNX Tokens?

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(Edited)

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Hey Hivers,

Following a conversation with some good questions raised by @arcange, the below should help SPK Network supporters make the most of their LARYNX tokens to obtain SPK Governance tokens. We hope this helps max out your SPK token mining as well as understand a little about the context of why things are being rolled out like they are:


Q1) Hey, it's hard to find good documentation on how best to use/ invest your SPK-related tokens. For example, it is better to gov-lock all your LARYNX tokens as a node operator or keep a few liquid. Does it change something?

For now, all you can do is delegate LARYNX to node operators on the SPK chain. But as this builds out you will be able to delegate to other infrastructure operators such as CDN, encoder, storage, and validator node operators.

The central pins of the ecosystem are the validators, who will earn exceptional SPK rewards. All content and files flow through them. They will be elected with SPK via a top 20 vote (maybe more than 20). The more infrastructure they operate in an efficient way that suits the community, the more likely they are to be voted in as top validators.

Q2) OK, but speaking of me as a node operator, should I lock all my LARYNX now?
Is there any advantage to doing so?

Yes. As a node operator, it would make sense to lock all of your LARYNX into gov now if you wanted to max your SPK rewards.

The idea is that the more infra you operate, the more likely you will be elected as a top validator.

Q3) What's the benefit of doing so?

This will max your SPK rewards. As @threespeak will not, for example, we also want to delegate to other operators who have genuinely worked on this ecosystem without much reward from the start.

This means we will not make as many SPK tokens, but more SPK will be spread further. As supporters of the ecosystem, it is also in our interest to make sure that SPK is spread far and wide, so we will both delegate to other node operators as well as stake. Both methods will earn SPK, and delegating will spread it further throughout the community.

Q4) If I have an alt account with LARYNX, is it better to transfer them to me than lock or delegate?

If you want to max your SPK and are a node operator, send them to your node and lock them in. Later there will be a permanent lock-in option, which will give you a much better return. But you won't get your Larynx back with perma lock-ins. They will recycle to the SIP. By recycling Larynx to the SIP, it will encourage liquidity to flow into the SIP from people buying Larynx miner tokens to improve their mining efficiency.

The idea is that as you stake or delegate your Larynx, it will decay over time and end up back in the SIP where people can buy it from. This decay of the Larynx tokens back to the SIP rewards node operators, who are adding liquidity to the SIP by buying the latest Larynx miner tokens that come onto the market

People are buying Larynx from the SIP lock in these payments permanently to the SIP to create liquidity and DeFi fees, For the community.

Alternatively, we would advise keeping some dry powder Larynx and using it to delegate to other proven node operators who are operating more than just SPK Claim Chain Nodes. I think this will also be seen as favorable in the community. Are you here to earn SPK or here to spread it? A balance of both is good, IMO. Especially if you are a whale and want to ensure distribution is good. And at the same time, incentivize the most dedicated infra operators.

Soon, you will be able to see who is operating which node types, as well as just a chain node. (Chain nodes are not resource intensive as they are great layer two systems where almost everything is on hive layer one - so Speak Claim Chain nodes are super lightweight).

Intensive resources will be when operating encoder nodes, storage, validator, and content deliver nodes. That's where we need to ensure SPK is distributed to encoder nodes operating. Anyone can run one. But they aren't tied into SPK rewards yet.

We are currently working on CDN and storage and validator nodes. Should have a working system out in 3-4 Months with all node types. The idea is the more of these you run, the more SPK votes you will get. This means you are more likely to be a top 20 validator. That's where some decent rewards are. But ATM, the inflation of SPK is set super low so that not much is distributed.

The idea is to keep SPK inflation super low for now so that there is an initial distribution. Then when all the infrastructure is out and operating, the inflation of SPK will be ramped up to a Bitcoin-type inflation curve until it reaches its cap in a few decades from now.

This will mean that the early adopters of SPK and those who have worked hard to run nodes will be the first to vote on the top validators before the inflation starts properly in a few months.

Q5) All of these things are new to us. I suppose it will take some time before everyone understands it and can make good decisions.

We want a circulation of SPK there to allow the early adopters to vote for their validators once these node types are out. Once anyone can run all infrastructure types, at that point, the initial validators will be elected into position with DPoS SPK token community votes. Then we plan to run a fork to ramp up the inflation of SPK to normal levels.

It's difficult to do as it's all is in flux, and this early, low SPK inflation phase is temporary. But the path forward is clear.


About the SPK Network:

The SPK Network is a decentralized Web 3.0 protocol that rewards value creators and infrastructure providers appropriately and autonomously by distributing reward tokens so that every user, creator, and platform can earn rewards on a level playing field.



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31 comments
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It's very information for to process but it isn't impossible to do it. Keeping up the good work!

PIZZA!

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Thanks for the info, I'm still a little bit lost with SPK. 😑

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I think a lot of us (me) are. I just get the sense that something big is going down and I'm thankful for the folks making it happen.

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Thanks for the explanation. How will voting in the most efficient validators work? How will their performance be measured?

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For now, I think efficiency is mainly things like what's the uptime of the validator and how quickly it updates to newer versions of the software.

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That is very difficult to measure. we will do our best to create ways to measure the work that each node type is doing over time. however, using DPoS voting for this, means you can socially judge how the node operators perform, in the same way you can vote for top witnesses on hive. the blockchain does not directly measure how efficient they are, but socially we have done a pretty good job of voting the best ppl into the positions of top witnesses, even if it is not perfect, it works well. we can apply the same principle in voting in top validators in the spk network. if they are great at encoding, delivering content and storing content, then it is more likely, over time that the community will understand this and vote for the best node operators to become top validators

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For the witness vote, I know which metrics to pay attention to. For the SPKCC monitor, forgetting video quality for the time being, what is a Runner and what does Dex Slope Vote mean? I know it says "DEX Slope (controls the size of lower priced orders)", but as a percentage of what?

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I'm hoping to use some concepts from machine learning to place a raw neural network for performance inputs. This should allow competing ideas of performance to gain traction, while being agile enough to change with new ideas.

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super cool! look forwards to working with you on this!

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This has been VERY helpful in understanding how everything is working on SPK and what to do with our monthly airdrop tokens. I'll need to keep some liquid on hand once the next month of airdrop happens, good to know.

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Will there be a front end with all the node operators listed to make delegating foolproof for people like me? eg Like a witness voting page.

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I need this too. this is definitely in the works. it will be the basis for voting SPK based DPoS voting on validators node operators (some of the most important nodes in the eco system as they regulate and check the content storage). ppl will likely vote for validator nodes who run multiple infrastructure types. we do need a table to easily see this.

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Great. I think the easier it is to delegate the more people will engage with the nodes. Spreading the delegation will also be good for the decentalisation so knowing everyone who is running one will be great.
This question is a bit off topic but would it be possible to run a node on a Raspberry PI?

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This may be a little premature, but in the end, money talks and is the number one reason most of us are interested in this. So, with that said, what are we, as investors most wanting to accumulate? Do we want to get as much LARYNX as possible? Do we want to try and accumulate as much SPK as possible? Or is the BROCA token going to be the one to get our hands on? In other words, which of these tokens do you see as being the most valuable to own in the future?

If the LARYNX tokens decay, then do we want to keep trying to turn them into the newest LARYNX tokens? Or are we going to want to try and accumulate and hodl the other ones?

I'm just trying to get a sense of where the value will be for the future for those of us not running any sort of nodes.

Maybe I'm too early with these questions but....better too early than too late. :-)

I'm excited about the project. I just wish I understood it better. lol

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From my view of the white paper. SPK is the token that will be most valuable. Larynx is used to earn that... and Broca is a resource credit token that will follow your SPK balance. While the initial distro of SPK will be limited, these tokens will have an over sized effect on the network's direction. Larynx will also constantly decay from users wallets so it will not be a HODL token... if you aren't using it to get SPK it will not hold long term value. If you are a casual financier of crypto projects: Accumulating SPK to make governance decisions, then selling Broca to users and communities will likely be your bread and butter.

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Thank you for the reply. In reading things over the past few months with this project, I got the impression that eventually, as devs build projects on this platform, there would be some potential for holders of this project to benefit by owning one of these tokens (or all three). Like these would be the underlying tokens for the infrastructure and there could be distributions of tokens from the newly created projects. Kind of like HIVE is the underlying blockchain for LEO, STEM, ONEUP, etc. I'm not saying holders would automatically get tokens in the new projects, but if the new projects wanted to broaden distribution right away, they may airdrop tokens to holders of Spknetwork in some way. Do you think that is completely off base?

I'm not looking for get-rich-quick or anything. I'm just trying to get a handle on what the potential for this could be. I'm sold on the massive potential of what can be built on it. I'm just trying to get an overall sense of what to focus on as far as where to put my money.

In all reality, it seems like running a node of some sort is ultimately going to be the best way to participate, but I'm sure I'm not alone in wondering about the best ways to participate and the overall potential if you don't run a node.

Posted Using LeoFinance Beta

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(Edited)

best way to participate is to run infrastructure. however, if you cant do that, best way is to delegate larynx to infra operators.

as time goes on, there will be ways to earn spk and broca and larynx from staking in the SIP, selling broca during price pumps and recycling content and probably ad systems.

other ways to earn will be to run platforms that incorporate spk network infrastrucutre. also putting proposals into the spk network dao to execute projects that improve the eco system will help.

other functions such as putting a human touch into bot identification and approaching exiting platforms to help them integrate spk and hive will also help you create value in the eco system and probably increase your chances that the community will find a way to distribute rewards to you in the future.

finally, as users use the break away community front ends that are run on the spk network eco system, they will accumulate points. community tokens will probably be dropped to users who have accumulated points.

much of the above is not yet in operation, but will be over time

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I've seen plenty of people asking this question on LeoThreads:

Now we've delegated our LARYNX, when should we expect to see SPK tokens in our balance?

And do we have to do anything in order to claim them?

Posted Using LeoFinance Beta

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This question is very important, and needs an informed answer.

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Same I delegated to a Node operator but haven't seen any SPK coming in?

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Powering up starts a timer in blocks. Every 28800 Blocks (roughly 24 hours) your account can see new tokens. The interest rate is set exceptionally low so don't expect much more than a few thousandths per day.

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Cheers mate.

So for example I delegated my 26K LARYNX tokens a few days ago and my SPK balance still reads as zero:

Wallet.

Is this just because the interface isn't picking up and displaying the tiny amount of SPK that I'm earning?

Posted Using LeoFinance Beta

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There was a little logic problem on the front-end. You should be able to refresh your browser cache and see the balance.

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No matter what I cleared or refreshed, it still displayed as zero.

Then I logged in via an incognito window and it is now displaying that I am earning SPK :))

Thank you for taking the time to explain!

Posted Using LeoFinance Beta

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My spk-promo node is funded until the end of 2023 - it has been working 24/7 since the first day. You can ask any questions here or write to @spk-promo

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So I earned a bunch of these tokens by creating videos. What should I do with them to earn more?

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Another question, because I'm confused by the different interfaces: is there a difference between powering up on https://vue.dlux.io/me# and locking tokens on https://spk.dlux.io/ ? The latter says I can only lock LARYNXG, which I don't have. Is LARYNXG the same as LARYNX POWER?

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I still have no idea what to do with them, I will observe a situation and probably, not sure yet, delegate it.

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