Passive Income With The SPK Network

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9 months ago - 3 minutes read

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The SPK network has been around for some time, many will primarily know it for 3Speak.tv which is a video sharing platform that runs on the Hive blockchain. It's yet another way for people to share their content and be rewarded for it through the proof of brain blockchain.

Last year 3speak as far as I know grew into what we now know as the SPK network. From the looks of it this will eventually support a whole host of social web3 applications just like 3speak.

Claiming or Buying SPK Tokens

If you had Hive power during the snapshot last year you're now well on your way to collecting monthly. This token is called the LARYNX Token and is used for mining the SPK network token.

To see if you have any to claim each month visit spk.dlux.io and there will be a multi color present that you click on to claim. If you don't claim yours each month it will disappear and go into a pool that will be later used by the entire network.

Passive Income With Nodes or Larynx Power

I've setup nodes myself in the past to run proof of stake tokens however I haven't yet set one up for the SPK network but I hope to at some point soon time permitting and skill permitting. In any case you can setup your own node and for doing so you will be helping the network.

If you don't want to setup a node you can still delegate out your Larynx token by first powering it up and then delegating it to one of the nodes. larynxpower.jpg

This powers up the toke to be delegated out. At the moment powered up Larynx earns 0.010% while powered up and delegated earns 0.015%

To delegate your tokens to a node click on the delegate button here which will popup a light box with your hive username and a drop down to select a node operator. Take note that Green - Good standing processing blocks as it should Yellow - A bit behind on processing blocks Red - Either inactive or something is really wrong best to avoid till they fix it.

Then type in the amount of LARYNX tokens you want to delegate and confirm it.

This will now delegate your powered up LARYNX tokens to a node and allow you to earn passivly what are known as SPK Tokens. These SPK tokens are the governance token for the SPK network.

At some point a third token will be added called the BROCA token which is a gas token but I haven't heard anything on these as of yet. When that time comes I'll be sure to write up another article about it going over the details.

Buying LARYNX Tokens

If you're not part of the airdrop some tokens could be bought off the market. This market is accesses at their internal market LARYNX Market the UI is a little clunky and hard to find things and move around it's what I often call an all developers game and no UI team I've seen it many of times lol. But the fact is it works you just have to dissect it a bit and get into the mind of a dev instead of a front end user.

Overall the project is moving ahead and we are seeing some progress on the front of this application. I'm interested to see what's next and how video can really be implemented into the world of crypto on a very successful level. My hopes are it still runs mainly off of ad revenue like Youtube but instead of a 65% cut it would be near 100% to content creators and node operators etc.

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