Posts

How to get ready for the Speak Network SnapShot and Claim Drop...

avatar of @revisesociology
25
Zebedee
@revisesociology
·
·
0 views
·
3 min read

Its been a long time coming but we're finally just a day away from the snapshot time for the Speak Network claim-drop which was announced three months ago....

The snapshot time is at 8 A.M. GMT Thursday January 6th, or Midnight (0.00) Jan 6th PST.

As I understand it the snapshot is going to a be 1-1 snapshot of all the Hive and Hive and HivePower in existence: including:

  • HIVE POWER
  • LIQUID HIVE
  • HIVE SAVINGS
  • 'The Hive behind SWAP HIVE including that in Diesel pools'
  • Hive on exchanges

So if there are 400 Million Hive and Swap Hive in existence at 0,00 PST on Jan 6th, there will be a total of 400 Million LARYNX dropped to those accounts holding that Hive/ Swap Hive/ Hive Power.

HOWEVER, and this is important, the ONLY way to guarantee that you get your own personal LARYNX claim is to do 1-3 above - so the safest way to guarantee your own personal drop is to either

  1. Have staked Hive Power
  2. Have liquid Hive as actual Hive (not swap hive) in your hive wallet
  3. Have hive savings.

HBDs are definitely NOT included as part of the snapshot.

The problem with having 'third party' Hive is that the larynx is dropped to the third party account holding the tokens for you, so because swap.hive is a centrally controlled token, HIVE-ENGINE gets the LARYNX drop and then it's up to them whether they distributes it to you as a swap.hive holder, and the same with exchanges - the exchanges get the drop, and it's up them whether they distribute it to your wallet on their exchange.

It's far more likely that you'll get your LARYNX from Hive-Engine given the fact that @aggroed is pro-Hive and has a reputation at stake, with the exchanges, I wouldn't rely on them, so if you have any Hive there, get it off the exchange before drop.

You Have to Claim your LARYNX via the Speak Network from Feb for the next year!

NB you don't just get automatically dropped your free tokens, you have to log into Speak Desktop app to claim them - you can defo get them via the downloadable app which you can get here, I'm not sure whether you'll be able to claim via the online Speak App.

You'll be able to claim from February and then you'll have to do so every month for 12 months - so you get 1/12 of your snapshotted Hive (from 6 Jan) every month for the next year.

WTF is LARYNX anyway?

It's one of three basic tokens on the new Speak Network - it's basically a mining token - you burn LARYNX to received SPEAK, which is the governance token (having a say in censorship etc) and which you can stake to earn BROCCA, the gas token.

You can read more about the relationship between the three tokens within the light paper.

NB any unclaimed tokens go into a DAO.

The Speak Network is built across Hive and Peer Plays

There was a recent call to action asking people to test out the PeerPlays DEX.

Speak seems to be built across Hive and PeerPlays, NB I've no idea what PeerPlays is, but I've heard mention of it recently in relation to Hive, and being familiar with it could be crucial to dumping your LARYNX tokens if that's your intention when you claim your first batch.

I mean you know the way these drops work - you need to dump some in the first minutes before they lose 10-100 times their initial value.

I think everyone with a Speak account gets a PeerPlays account automatically connected, but just be aware, the tokenomics probably isn't going to be on Hive-Engine if that's what you're expecting.

FIND OUT MORE....

This is the latest AMA from the end of 2021, they get to the Drop questions at around 20 mins in...

https://3speak.tv/watch?v=spknetwork/lyevclig

How to Prep for the 3Speak LARYNX CLAIM DROP Summary:

  1. Get yer swap.hive and any hive on exchanges into your Hive wallet by 0.00 PST Jan 6th - that's all you need do urgently. Alternatively just risk keeping yer swap.hive as swap.hive!
  2. Download the 3Speak Desktop App - as far as I'm aware you'll need this to claim your LARYNX: https://github.com/3speaknetwork/3Speak-app/releases/tag/v0.1.17 - you won't be able to download until Feb
  3. Find out about PeerPlays
  4. Keep an eye on the @spknetwork account for more info.

OH, and of course the Ragnorak NFT drop is at the same time as the LARYNX snapshot, but I think the game play for that is a way off yet.

Posted Using LeoFinance Beta