How to Earn SPT Tokens Passively With Delegation
One of the most interesting things about the Hive ecosystem is delegation: You can delegate your tokens to earn more tokens passively.
In this post, I'm going to show you how to stake and delegate your liquid SPT to @monster-curator to start earning passively. This, in turn, will give you points for SPS drops from Splinterlands.
The Importance of Curators in the Hive Community
There are a lot of curators out there. By staking their tokens, such as SPT, curators have higher curation rewards when upvoting content.
Why did they do that?
You can read the original post here but, in a nutshell, many people don't have time to find and upvote great content. And that's a lot of rewards left on the table for many people.
And that's where monster-curator comes in.
When you delegate your SPT to monster-curator, you get curation rewards based on the amount you delegate.
The whole work is done by monster-curator. You only need to cash in your SPT tokens on a daily basis. That's a great way to earn a token passively.
Of course, monster-curator is not a one-person team. They have built a team of people working around the clock curating excellent content.
What Is the SPT Token?
SPT is a crypto token, such as Hive or DEC. As of now, the SPT token has two main functions:
- It's used to reward writers and curators on the Splintertalk.io blog.
- As an asset, SPT is worth 0.25 airdrop points. Each SPS you have in your wallet gives you SPS token airdrops for the next ~10 months (at the time of writing this).
Moreover, as more SPT use cases emerge in the future, the SPT token may increase in value and you will enjoy a nice appreciation. As of today, SPT is trading at around $0.01.
A while ago, Splinterlands's Chaos Legion Card pack presale (18th Oct - 17th Nov) was announced.
So, I'd say it's very important to stack as much SPS as you possibly can.
The more SPS you end up having in your account, the more Vouchers you'll get during the presale period. One card pack will cost you $4 and 1 Voucher. Thus, you want to accumulate those SPS!
Buy or Earn Some SPT First
So, how do you get SPT in the first place to then delegate to monster-curator?
If you want to delegate to monster-curator, you can do the following:
By blogging on Splintertalk.io, you get rewarded in SPT after 7 days by the time you publish your post.
How to Delegate Your SPT
Now it's time to see how you actually delegate your SPT? The process is quite simple, but you need to pay attention to a couple of things.
Follow these two step in this exact order (screenshots below):
- First, you need to stake your SPT
- Second, delegate your staked SPT to monster-curator
Warning: During my research, I realized that some people get confused and delegate liquid assets. That's a mistake. You want to 1) stake your SPT, and then 2) delegate. That is the right order.
Let's got through an example together:
Let's assume you have, like me, 14,433.264653 in liquid SPT.
Click on Stake.
Decide the Quantity, then click on the blue button Continue.
As you can see, now 1000 SPT are Stacked.
Now you can click on Delegate.
Again, decide the Quantity, then click on the blue button Continue.
Easy peasy 🍋 lemon squeezy!
How to Undelegate
Undelegating SPT tokens is almost as easy. I say almost because, as you can see from the screenshot below (from LeoDex this time), you don't have the name of the account you delegated to.
First click on this symbol below:
Then, you'll see this:
You cannot see how you delegated to! Why? Because you could have delegated to a number of different accounts.
In our example I delegated to monster-curator, but I could have done that with another account, or more than one.
So, in order to undelegate you need to specify the From account, and the Amount to undelegate (1000 in the example below).
When you're done, click on Undelegate SPT.
There you have it.
This is how you can delegate and undelegate your SPT tokens.
Feel free to leave a comment below with any questions or comments if I missed something important.
Posted Using LeoFinance Beta