BROCA, the fee token inside the SPK Network.
BROCA can be overlooked but is vital to the system as a whole. People who power up SPK will receive BROCA inflation. Most of that BROCA will be in liquid form; the rest will be locked and needed to be "upvoted" to be disturbed via PoB.
BROCA is the fee token and the defacto "tipping" token because the SPK token has a 3% transfer tax on all traders; the tax goes to those who have burned Larynx Miner Tokens. Each year it resets, meaning there will be very few new burned miners starting out all receiving the 3% fee from all SPK trades. If there are fewer tokens in circulation yet the fee remains consistent, early birds for miners will receive a larger share of the fees each year.
SPK is not the ideal tipping token. Instead, it's the ultimate hodl token. It rewards long-term hodlers at the expense of short-term speculators.
However, BROCA is feeless. BROCA will be integrated and promoted to be used for tipping. There is no better way to tip your favorite content creator than giving them a token that gives that creator further access to the platform's bandwidth.
If you don't pay for the product, you are the product. There are no free lunches. Content creators from web 3 will earn far more on avg than those from web 2, but the entry to enter will be slightly higher. Those that look past pennies to earn dollars will do so.
To post a video, image, text, or mint an NFT costs BROCA; unless you choose to self-host or someone chooses to host your content, then it is free. BROCA incentives a better user experience via better CDN, better/fast encoding, and redundant storage of your content. But, users can always use the network with their own resources, thus not requiring BROCA to be paid.
Hive SONs (oracles), a term you'll become very familiar with, will track BRCOA fees in stable coins for a better user experience. It won't ever be you need "1 BROCA" for upload. It will be you need "x stable coin worth of BROCA" to upload. Therefore BROCA can greatly appreciate in value without hurting the user experience by raising the barrier to entry.
The SPK network provides base emergency funds for infrastructure with initial long-term inflation that slowly decreases over time. After that, the emergency infrastructure cost comes from the SIP via defi fee generation. BROCA is used to secure redundancy for your content. Every time your content is pinged during PoA, a small part of your attached BROCA fee is used alongside SPK rewards to make it more attractive for infrastructure provides to provide their resources to you. If you attach a BROCA fee to content and over time, that Broca fee gets "eaten up" by miners securing your data; once that BROCA runs out, you only have the SPK reward left. This means that content with BROCA fees attached is more attractive for miners to store due to higher rewards. If you want higher redundancy on your content, you'll make sure BROCA is always attached.
There will be mechanisms in which you can see your content, how much BROCA is left on it, and "top it up" anytime you want, or community members can top it up via spk upvotes or simply tipping some BROCA on the video to lengthen its time. This means important videos should always have someone willing to throw a bit of BROCA on the video to ensure it stays redundantly backed up. You will be able to see who has tipped the video, possibilities for community NFT badges for those that do tip/provide resources for the said community; we want to bring out the best in all this technology has to offer. As we've seen with the latest NFT craze, social status is a big area, and we plan to encourage it to the fullest extent possible with social NFT status, emojis, and much more. Building your pseudonymous account on web 3 will come with so many perks that social status NFTs will be a major focal point as we get the foundation laid out.
You will also be incentivized to delete old content as you can recoup some of your fees. There are many reasons people will want to delete content, and some want to delete it because they no longer want the content up; the vast majority will delete it to get some crypto back. If you could go back and delete some old content of yours and get some crypto for it, I'm sure many would. Incentives for deleting content will help trim the network from excess cat video bloat. Another angle here, let's say you attach a BROCA fee to your content. Let's say a few weeks later, the price of BROCA skyrockets; you can now delete your content, recoup some of your initial deposit, redeposit using just a small amount of what you just recouped, and keeping the rest.
While BROCA is inflationary by definition (no cap), it can quickly become deflationary due to demand. BROCA is constantly being bought up by the SIP from Miner & Ad sales, and if the miner/ad sales are great enough, it can exceed BROCA inflation.
BROCA has fast transfers, feels "free," and gives access to a true web 3 platform covering everything from text, video, & image storage in a decentralized manner. Being fast and feeless makes it a great tipping token, but all the other features and tokenomics allow it to absorb and retain value.
Keep in mind these posts are mixed with my vision on the token. My vision can be different than yours, and BROCA can evolve into something far beyond what I originally see. This is bigger than any one person or group. It's a community effort.
Ok, I had to do a little research into SPK and of course its is tied to @threespeak. I love threespeak's functionality.
How will acquiring SPK further help threespeak grow? The answers seem obvious and just to hodl SPK but do you have a post on the matter?
Is there ideas about how to better incentivize BROCA to be used as a tipping function since tipping already exists for the consumer on the first layer. Maybe threespeak is on other chains, im not sure but that would make sense of that was the case.
BROCA hodling would be cool if you wanted to host a friend. It seems kinda of like liquid mana or gas.
So many questions, but im new here so I am sure they will be answered as I follow along.
SPK provides 3speak (a skin) the ability to have censorship-resistant hosting. Right now, users can self-host with the desktop app, seed other videos, etc. Without a proper incentive mechanism, only a few people at best will store content for free. We have been doing it for years to support Hive with evergreen video content. We have succeeded in that, all the while building a solution to take the burden off of us or any entity's shoulders.
So SPK will help scale 3speak storage in a big way.
BROCA is akin to resource credits on Hive, except they are fungible. The big difference is, RC's are for a blockchain, whereas BROCA is for IPFS storage. Blockchain storage is forever, percent, whereas IPFS is flexible. Therefore, RC's swing in cost on the network to use due to bandwidth being used whereas BROCA does not; it can be a fixed price set by an oracle because IPFS storage + PoA (proof of access) in theory is infinite; of course, it has limits, but there is no "bandwidth" or blocksize when it comes to IPFS.
I think that SPK is one of the few second layer tokens I personally would find value in acquiring for the long term then. Love the user friendly experience, videos typically play and bandwidth isn't throttled like with dtube was back in the day.
Im assuming your strictly Hive, at least in relation to blockchains like Hive.
I love what you(and your team?) are doing and would only get the SPK token just to support threespeak and not for high %apr. Hive is a long term investment for me.
Any plans for live streaming?
Yes! Part of the SPK network will incorporate a custom made live streaming protocol for distributed/decentralized live video.
Thank you! Do you know when it will be available on hive engine?
SPK Network? We are not going to be part of hive engine.
This is very interesting, I like the idea of being able to delete old content and get some tokkens. It just gets better and better.
I take this opportunity to wish you a splendid weekend
100%
I found that really clever by them!
The incredible thing is the possibilities are really large, dependent upon how people want to approach the situation. With the many different layers that are being developed on the SpkNetwork, people will have many different ways to monetize their contributions (support) to the network.
This is going to help content creators, those who choose video hosting, and even investors.
Couple this with the DeFi capabilities and NFT integration and we have a versatile digital asset platform that can fulfill many of the major needs.
I know you already made several great posts explaining the SPK network; I still feel that I haven't quite got my head wrapped around it all yet. Is there one post/video that explains it for dummies? ;)
I collaborated with the SPK team on ~25 images (doodles) that explain it in a fairly simple way, hopefully many of them will be released and be of value to you as support for the great posts Dan linked below. 🙏
Thanks, you! There are a few of us out there!
Can you share the link here ? I wish I could understand it better.
Only one of the doodles has been released as far as I know, and you can see it in this post: https://peakd.com/spknetwork/@spknetwork/spk-network-or-old-internet-vs-spk-network-web-3 🙏
The LP https://hive.blog/hive/@spknetwork/spk-network-light-paper - also did a live ama
That would be great indeed! It's quite a dense subject because of how groundbreaking it's going to be!
Pricing in fixed stablecoin costs while allowing speculators to buy sell broca is really cool.
If broca becomes deflationary there could be massive supply shortages as speculators pile in and the price could rise ifinitely without affecting the network.
So if i understand right:
BROCA for use
SPK for hodl.
SPK hodl makes BROCA?
Infrastructure for video storage makes BROCA too?
Dan please I need an infographic with pictures :P
Yes to all of that but infrastructure for vids also is paid in SPK. You get both based on what you're doing. Infographics are made putting them out watch @spknetwork
Thanks very good!
Wow.
Nice.
Sustainable.
I check everyday to see if the countdown to the airdrop snapshot has begun..
#excited.
soon.
I didn't know about S[K NETWORK thanks to you I get to know a lot about it and am doing my own research on what it is
I am thinking of using 3peak for my future videos
Woohoo!! Can't wait to listen to this!
[Thot this was a video :( ] haha facepalm!
I am excited for SPK network and based on the vision that you have shared it looks great. Looking forward to having it live soon.
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Check out the last post from @hivebuzz:
When it is supposed to go live?
Excellent publication friend, congratulations and very valuable information, greetings
I get the Ad sales part for the burn, but why do miners make BROCA deflationary? Miners will look to sell it after they earn, so the BROCA remains in the circulating supply.
Am I missing something?
Miner/Ad sales are in HIVE. Some of that Hive is sold to buy BROCA/SPK that then locks them in a LP. Hive/SPK and SPK/BROCA.
Más que interesante, y es algo que pasa como en silencio.
Is there a number where we will say okay we have enough tokens? Is this the future? Creating thousands and thousands of tokens? Have talked with a couple of users who signed up and stopped using the platform and they said it's very complicated for the average user. And I don't think having all those tokens will help.
The goal would be for the end user to not even need to touch any crypto. However, with all the PoB rewards and fun ways to earn, people will quickly like the fact they have so many diff coins in their wallets. Look at NFTs for an example; those are just unique tokens; people have dozens of them. The future is many tokens, yes; however, the front ends that do it right, and spare the new users the pain points of web 3, and make it feel like web 2 will be the ones that win out in the new attention eco.
BROCA hodling would be cool if you wanted to host a friend. It seems kinda of like liquid mana or gas.
So many questions, but im new here so I am sure they will be answered as I follow along.🤔🧐
What's the total supply of BROKA ?
The HIVE snapshot will be the initial supply. Every year that amount will be sold over a year. You need to burn them to mine SPK & every year, they become less efficient, so you'll need to eventually upgrade to stay competitive.