Sometimes an Airdrop Pales When You Look at the Whole Picture

in LeoFinancelast month

That's one way to know there might be something solid behind! When the air/claimdrop isn't the most important aspect of a project.

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When CubFinance launched everyone was hyped about the airdrop of CUB for LEO holders, but the ratio of the drop didn't meet the expectations of many LEO holders. What however worked great was the new CubFinance platform which offered great returns since.

Another airdrop that has been the talk of the community for the past few months at least is the one we heard was coming from the new "3Speak network" that was building. We didn't know any details other than it was supposed to be for Hive holders.

Today, thanks to this post of Taskmaster, I found out a light paper was published for the new SPKNetwork a few days ago.

In the light paper, there is some talk about the claimdrops everyone seem to have expected, but all the way at the end. And rightfully so!

The new SPKNetwork incorporates major concepts and has its own interesting approach in the attempt to revolutionize the way inflation is used in a DPoS blockchain such as Hive. Basically, the proposition here is to put to work (via defi) the inflation which would otherwise be burned, while locking it forever in a mechanism called SIP (Service Infrastructure Pool).

To talk about the claimdrop when so much work is behind something that is aimed towards openness, decentralization and interoperability would mean not to understand where the value comes from, and how massive of the change this will be.

We are talking about a multi-chain project, multi-token economy, where concepts and protocols such as proof of stake, proof of access, proof of brain, "proof of watching ads", IPFS, mining, defi, NFTs are combined and meet communities, which can "benefit from the direct account ownership properties, DeFi capabilities, tokenisation, NFTs, storage and censorship resistance properties of this technology, outside of the influence of the mainstream Web 2.0 system."

I believe this part of the light paper is very relevant for content creators and communities who value account ownership and censorship resistance and would like to create their own customized platforms:

Alternative content platforms can also leverage the same systems by integrating them. They will also be able to utilise their existing video infrastructure and run it on the Network to earn mining rewards. 3Speak.tv is a fully operational example platform which already runs on the Network.

Content platforms using the SPK Network will benefit from the following Web 3.0 pre-built tool systems should they choose to integrate them into their own platforms:

  • IPFS content storage system on the Network's perma-web
  • Token Creation system for their content creators
  • NFT creation, sale and royalty system
  • Immutable Breakaway Community creation system
  • Web 3.0 account system in which user account ownership is independent from the platform, with accounts being owned outright by the platform's users themselves
  • Network effect from sharing and accessing content to / from the Network perma-web and Hive blockchain

With these pre-built tools available, and an open source Speak desktop app which is available, looks it will become much easier to create an autonomous, censorship-resistant community for video and NFT creators.

There's a lot more being discussed in the light paper. Like the various types of nodes and their roles, how democratic blacklisting works, and more. Certainly worth reading, more than once probably.

Often it's better to look at the bigger picture. While I don't know how much the claimdrop rate will be for Hive holders, or even when it will start, I believe that the rewards those miners provide might pale in comparison to the benefit Hive holders will feel if the SPK Network becomes a success, given the multiple ties Hive has in its economy and the permanent locking of Hive in SIP.

Posted Using LeoFinance Beta