Hive Passive Income - Earn through delegation of secondary layer tokens (SPT use case)

LeoFinance
8 days ago
2 Min Read
477 Words

HIVE communities economics have at their core secondary layer tokens incepted on Hive-Engine. They hold a value at their own and they mostly convey the same HIVE rules, but they have some flavours on their own. Additionally new features can be developed specific to each such token and each community can create its own rules for rewards pool. Posting on communities have the benefit of getting secondary layer tokens as LEO, CTP, PAL, NEOXAG, SPT and other alike and as well to getting HIVE rewards. All these work great together and provide two layers of rewards.

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Giving that I post on different communities based on the content that I write, I can use the rewarded second layer tokens in different ways. One simple way to generate some income is to stake and vote on that community to get curation rewards. But as more and more communities emerge we don't have time for all of them and we start doing different strategies in order to still put these tokens as work for us. And as I am writing from time to time Splinterlands content which is intended for Splintertalk community, I gathered a good amount of SPT tokens - 19,794. I decided to delegate these tokens to @monster-curator which is a great curator on Splintertalk and will be waiting for future daily rewards in the form of SPT tokens.

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In order to delegate SPT tokens you need to do two operations in this regard. First you need to stake your tokens. Using LeoDex you can go to your Wallet and find your SPT tokens. From there you can stake your secondary layer tokens.
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Now that I have staked my SPT tokens, I can delegate them to my choosing and in this case it is towards @monster-curator. It provides curation rewards splitted every day among all delegators, it has impressive power and ensures that the Splintertalk ecosystem is healthy by manual curation of good content and downvoting of bas one. You can read more on its core values through the following thread - https://peakd.com/hive-167922/@monster-curator/what-is-monster-curator-doing-with-your-spt. But until then, let's delegate all my staked SPT to it.
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This way my SPT tokens will start earning and I can delegate more in the future. I am planning to find good curators in other communities as well and delegate to them in order to put all my secondary layer tokens at work. While we wish we have time for all it is clear that we don't but there are these mechanisms that still allow us to be part of the communities economies and help curating. Things are adding up and once you put these setups in motion you can relax while those are working for you.

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