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

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Adrian
@gadrian
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2 min read

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:

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.

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