How to delegate LARYNX to earn SPK tokens

in #hive-1679226 months ago

spk logo and hive logo.jpg

LARYNX delegations are live. Power up and delegate it to earn SPK tokens

When I first heard about SPK Network I was a mix of excited and confused because the project seems to be very ambitious but also a little complicated, at least for someone like me, who does not come from a technical background.

Things became a little clearer when I read the project's Light Paper but I still had some questions such as what are all these tokens they mention and what can I do with them?

I didn't have an answer but still collected my LARYNX tokens every month and I was glad to find out that at least one of my questions have been answered:

It is now possible to Power up LARYNX tokens and delegate them to earn SPK, another token of the SPK Network!

The process is very straightforward and I'm sure that with this guide you will be able to do it without difficulties.

Delegate LARYNX Power to Earn SPK tokens

Before we begin, if you notice that you can't follow any of the steps below because you don't see the same options, you should try to clear your browser cache and try again. I had an issue the first time I tried but clearing the cache fixed it instantly.

Step 1: Access your wallet

Login to https://vue.dlux.io/me#wallet/ to see your wallet. You will need Keychain installed.

When you login, click on the SPK tab and you should see your LARYNX tokens balance.

wallet.png

Step 2: Power Up!

Click on the dropdown button below your LARYNX button and you will see some options. You want to click on the first one, the one that says "Power Up". Although "Lock Liquidity" may sound like the same thing, it's completely different and not the scope of this post, so just click on "Power Up".

Now, you need to choose the amount of LARYNX you want to power up. This is very similar to powering up many other tokens on Hive and Hive-Engine.

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And now you have powered up your LARYNX! But wait! We are not quite done yet.

Step 3: Delegate your powered up LARYNX

If you want to earn SPK tokens on your LARYNX stake, powering up is not enough and you will need to delegate it to one of the node operators.

Don't worry though, because that is very easy to do. One thing you need to do is deciding to which operator you want to delegate and you can see a list of all of them on the SPKCC Monitor.

Once you made up your mind, go back to your SPK wallet and you will notice that now you have some LARYNX Power! Click on Delegate below your LARYNX Power balance.

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On the screen that will pop up you will be asked to choose one of the node operators and the amount you want to delegate to them. Just find the operator you want on the list, add how much LARYNX Power you want to delegate and click "Confirm".

And now you are set! You will now start earning some SPK tokens for your delegation.

Final thoughts

I still know very little about SPK Network and the full extent of the project but still it's great to see that things are moving forward.

For me, one thing that makes Hive different from many other networks is that we have a community of builders that keep adding to it and making it even better so I'm sure we will soon benefit from all the hard work these guys are putting on the blockchain.

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Thanks for writing this! I deleted my tokens now.

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