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What exactly are LARYNX Miner Tokens? by spknetwork

View this thread on: hive.blog |  peakd.com |  ecency.com
hive-112019 · @spknetwork · (edited)
$180.40
What exactly are LARYNX Miner Tokens?
<center>

![larynxspk.png](https://files.peakd.com/file/peakd-hive/spknetwork/23vsNJqbhDATTcCGC9tAU9UcXDq7w8PwV9aLRvy6aNRuBR3AbTCx5eeA6izuGTymKVfA5.png)

</center>

<div class="text-justify">

# Initial LARYNX Rules on the SPK Caim Chain (**EDIT**):

The current state of LARYNX Miner tokens is not what it will be in the future. LARYNX currently follows these rules and will progress to the rules mentioned below:

- These are claim tokens. [Claim here](https://spk.dlux.io/), check [this blog](https://peakd.com/hive-112019/@spknetwork/how-to-claim-larynx-step-by-step-tutorial) for instructions.
- You can: hold them, send them, trade them.
- If you are running a node, stake them to earn fees to help others trade them.
- Four-week power down. 25% per week.
- The fees earned by node operators are a share of the DEX trading fees

Nodes that earn a share of the dex fees have to be in consensus. To be in consensus the node has to stake more larynx than the governance threshold on [the  SPKCC Monitor page](https://hiveuprss.github.io/spkccmonitor/).

---

## What LARYNX is moving to:

If we go to their definition on the [SPK Network Light Paper](https://peakd.com/hive/@spknetwork/spk-network-light-paper), you will read something very close to this:

>LARYNX Miner tokens should be thought as, as physical miner rigs, but in a digital form. The only way SPK Governance tokens can be earned is by staking LARYNX Miner tokens and running SPK Network Peer to Peer infrastructure nodes. When staked, LARYNX Miner Tokens are locked permanently so as to identify legitimate infrastructure miners, willing to stake value into the network. The more LARYNX burned for mining, the more profitable/efficient the mining becomes.

### LARYNX Miner Tokens can be obtained by either:

- Sending HIVE to the SIP (Service Infrastructure Pool) - a percentage of the HIVE is auto sold for SPK, and a percentage is sold for BROCA. These currencies are then respectively staked into the SPK-HIVE BROCA-HIVE and SPK-BROCA Liquidity pool pairs in the SIP permanently. The HIVE is exchanged using Auto Market Makers in the liquidity pools above.
    
- A fixed amount of LARYNX Miner Tokens is auctioned off each day by the SIP. The users who send the most HIVE to the SIP that day for Miner Token purchases proportionately receive the most of that day's Miner Token supply.
    
- Burning LARYNX tokens for mining results in the tokens being permanently locked into accounts from which they cannot be withdrawn.

- The other option is to buy LARYNX Miner Tokens off the open market.
    
### New LARYNX MODELS

Each year, the relative mining efficiency of old versions of LARYNX Miner Tokens drops slightly in order to mimic the relative efficiency improvement to the latest physical mining rigs in the real world. This creates a continuous demand for the latest LARYNX tokens and encourages additional permanent staking into the SIP.

![image.png](https://files.peakd.com/file/peakd-hive/spknetwork/23sxnMbKJzStrwu2ntMXZ7wYvkLHGMWG5QVGr4PT1nf2tDPekZkDW871z7jq3gFSGAUZq.png)

<center>*Illustration made by @ryzeonline*</center>

## About the Claim Drop

Each HIVE blockchain token holder is eligible to claim their LARYNX miner tokens based on the amount of HIVE and HIVE power held in their wallet on January 6th, 2022. Unclaimed tokens will be distributed via proposal fund by community vote.

### Claim Drop will start tomorrow, Sunday, March 20th. Stay tuned [SEE HERE](https://hive.blog/hive-112019/@spknetwork/spk-network-claim-drop-live-party-and-hives-second-birthday-celebration).

You will be able to claim 1/12th of your miner token balance each month for 12 months based on the amount of Hive you had in your account on January 6th, 2022.
    
Unclaimed tokens will go into the LARYNX DAO account, which will be distributed based on community proposal and either stake weighted Hive Power or SPK Governance token vote (TBD).
    
### What LARYNX Miner Tokens Should be Seen As

LARYNX Tokens are essentially digital mining rigs. We anticipate a lot of reshuffling in the market over the first 12 months of distribution while users who want to carry out serious mining operations in the SPK Network secure their positions in the token.  
    
    
</div>

<center>

![image.png](https://files.peakd.com/file/peakd-hive/spknetwork/23tkpCz5fuuTPRBFcbQz9ihncoGt7qVFEhxiWB6AYesGjBzkPfaZcDNxerj4vbq575nZe.png)

</center>

---

<div class="text-justify">

#### About the SPK Network:

>The SPK Network is a decentralized Web 3.0 protocol that rewards value creators and infrastructure providers appropriately and autonomously by distributing reward tokens in such a way that every user, creator, and platform, will be able to earn rewards on a level playing field.

- Check out the SPK Network Light Paper: https://peakd.com/hive/@spknetwork/spk-network-light-paper

- Visit our website: https://spk.network/

- Telegram Group: https://t.me/spknetwork

- Discord Server: https://discord.gg/JbhQ7dREsP

</div>
πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 482 others
πŸ‘Ž  , ,
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vote details (549)
@behiver ·
$0.06
An amazing moment that gives the start of Speak Network getting decentralized from the gecko and building up a community that will ensure the thriving of the project.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@behiver/re-spknetwork-2qu4sj)
πŸ‘  ,
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vote details (2)
@beststart · 
Thanks for the explanation, I appreciate it.
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@bradleyarrow · 
SUPPER EXCITED.

Besides that, thanks for posting this to ListNerds because for some strange reason I was not following you. lol. Heading towards 800 videos up on the 3Speak and I was not following you. Well, corrected that now. lol
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@d-zero · 
Can we get more info on when LARYNX will be considered unclaimed?
!PIZZA
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@emjoe · 
Is there any link that explains how this works?

> Sending HIVE to the SIP (Service Infrastructure Pool) - a percentage of the HIVE is auto sold for SPK, and a percentage is sold for BROCA. 


Meanwhile, what do you think about having a medium account so that one can subscribe to and get notifications through email whenever there's an update?
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@fredrick4u · 
An amazing  initiative,  I love to see decentralized  platforms like this project. This is why I keep using  my decentralized multi-coin wallet application  from https://atomicwallet.io/,  for the storage  of crypto.
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@hivebuzz · 
Congratulations @spknetwork! Your post has been a top performer on the Hive blockchain and you have been rewarded with the following badge:

<table><tr><td><img src="https://images.hive.blog/60x60/http://hivebuzz.me/badges/toppayoutday.png"></td><td>Post with the highest payout of the day.</td></tr>
</table>

<sub>_You can view your badges on [your board](https://hivebuzz.me/@spknetwork) and compare yourself to others in the [Ranking](https://hivebuzz.me/ranking)_</sub>
<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>



**Check out the last post from @hivebuzz:**
<table><tr><td><a href="/hive-122221/@hivebuzz/pum-202203-15"><img src="https://images.hive.blog/64x128/https://i.imgur.com/xwzanZE.png"></a></td><td><a href="/hive-122221/@hivebuzz/pum-202203-15">Hive Power Up Month - Feedback from February day 15</a></td></tr></table>

###### Support the HiveBuzz project. [Vote](https://hivesigner.com/sign/update_proposal_votes?proposal_ids=%5B%22199%22%5D&approve=true) for [our proposal](https://peakd.com/me/proposals/199)!
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@jerrythefarmer · 
Can we get a node guide for absolute dummies? I tried running one on testnet and couldn't get all the way to the end.

It would be awesome if we could get a step-by-step guide that instructs you where to start and how to get the job done from start to finish.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jerrythefarmer/re-spknetwork-5rcetp)
πŸ‘  
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vote details (1)
@eythorphoto · 
This, i agree wwith this and also ask this  question!

EYTHORPHOTO!
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@l337m45732 · 
Sick. Takes me back to the glory days of ASIC mining bitcoin.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@l337m45732/re-spknetwork-bwqgz)
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@lichtblick · 
I love drops :-) 
Awesome and rehived.
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@myklovenotwar ·
$0.09
Wow so if I don’t want to mine but want to hold onto the tokens for a while to see what the market does… do they degrade?  Do I have to do something to upgrade them?  How about once they are staked?  What does that scenario entail?
πŸ‘  ,
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vote details (2)
@ykretz · 
I think they are still as efficient as before but the new tokens are more efficient so the share of the previous level larynx will be lower when the new takes their place :/
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@ninahaskin · 
@tipu curate
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@tipu · 
<a href="https://tipu.online/hive_curator?ninahaskin" target="_blank">Upvoted  &#128076;</a> (Mana: 23/53) <a href="https://peakd.com/hive/@reward.app/reward-app-quick-guide-updated" target="_blank">Liquid rewards</a>.
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@olami99 · 
wow, this is amazing and nice. how does it work
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@pizzabot · (edited)
RE: What exactly are LARYNX Miner Tokens?
<center>PIZZA! PIZZA! 


PIZZA Holders sent <strong>$PIZZA</strong> tips in this post's comments:
ykretz tipped spknetwork (x1)
@d-zero<sub>(3/5)</sub> tipped @spknetwork (x1)


<sub>Learn more at https://hive.pizza.</sub></center>
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@poshtoken · (edited)
https://twitter.com/dhafiz34/status/1505237587421802498
https://twitter.com/3speakonline/status/1505696351551512579
<sub> The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.</sub>
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vote details (1)
@rangodidy · 
such awesome insight you got mate!
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@rcaine · 
Thanks for the info. I hadn't heard about this airdrop. I will have to check it out.
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@steel777 · 
hi hive
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@tokenizedsociety · 
Thanks, I'm slowly starting to understand the tokenomics of the project! Might have to give that light paper another go, though!

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@tokenizedsociety/re-spknetwork-2uhdmz)
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vote details (1)
@tonybad ·
RE: What exactly are LARYNX Miner Tokens?
Managed to buy dome LARYNX on the DEX, but don't know what to do next !!! ![Court File View.jpg](1)

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@tonybad/re-spknetwork-6kznb6)
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@yieldgrower ·
$0.35
"Unclaimed tokens will go into the LARYNX DAO account"

When are tokens considered unclaimed? At the end of each month or at the end of the 1 year claim period? So if I skip a month of claiming can I still claim for the previous month and current month without losing or do I need to claim each month?

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@yieldgrower/re-spknetwork-5ui2rv)
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vote details (4)
@yieldgrower · 
from what I gathered today, you need to claim tokens monthly otherwise that months tokens will become unclaimable when the next months tokens become available

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@yieldgrower/re-yieldgrower-5qraaz)
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@ykretz ·
$0.10
Really interested by the response too !!
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vote details (3)
@yieldgrower ·
$0.06
from what I gathered today, you need to claim tokens monthly otherwise that months tokens will become unclaimable when the next months tokens become available

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@yieldgrower/re-ykretz-2vrlj)
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@ykretz · 
I hope I would be ready when this comes ! I still need some times but pretty soon I should have videos to share ! !PIZZA
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