SPK NETWORK LIGHT PAPER
Self-Reliance and Freedom of Speech for Content Creators and Content
Platforms Summary.
| REV | DATE | ISSUE DESCRIPTION | BY |
|---|---|---|---|
| R1 | 10-OCT-2023 | ISSUED FOR IMPLEMENTATION | The Hive Community |
Contents
SUMMARY
SIP (SERVICE INFRASTRUCTURE POOLS)
LARYNX MINER TOKEN
BROCA GAS TOKEN
SPK TOKENS
TOKEN USE CASE SUMMARY / TOKENOMICS
DECENTRALISED PROPOSAL FUND
WEB 3.0 CONTENT SITES & BREAKAWAY COMMUNITIES
IPFS STORAGE SYSTEM
PROOF OF ACCESS PERMA WEB
SERVICE INFRASTRUCTURE NODES & MINING
OPEN SOURCE DESKTOP APP
UNDERLYING TECHNOLOGIES
LIGHT ACCOUNT SYSTEM BLOCKCHAIN INTEROPERABILITY
COMMUNITY CONTENT REGULATION & DEMOCRATIC BLACKLISTING
MINING RARE, COLLECTABLE NFT MEMES
MAIN (CLAIM DROP 2)
AD RIGHTS
1. SUMMARY
The SPK Network is a decentralised 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.
Over time, the SPK Network aims to offer decentralised storage, Token Creation, NFT creation, Immutable Breakaway Communities and direct digital ownership of the creator's account and digital assets on a Web 3.0, DPoS protocol where the creator cannot be censored by centralised gatekeepers.
The distributed successor to the legacy Web 2.0 big tech censors will have no CEO and be jointly owned by all participants of the system who understand how important decentralisation, freedom and particularly, free speech are.
When CEOs are replaced by protocols and gatekeepers become communities, we can take back our natural right to free speech, a marketplace of ideas and free, open debate.
Website: https://spk.Network
Discord Chat SPK Network: https://discord.gg/RqhcNbqWJj
SPK Network Telegram chat: https://t.me/spkNetwork
3Speak Desktop App platform: https://github.com/spknetwork/3Speak-app/releases/latest
SPK Network Linktree: https://linktr.ee/spknetwork
3Speak Linktree: https://linktr.ee/3speak
Proof of Access Linktree: https://linktr.ee/proofofaccess
2. SIP (SERVICE INFRASTRUCTURE POOLS)
A Service Infrastructure Pool (SIP) is a revolutionary new way to use DeFi (Decentralised Finance) staking pools to fund a project's activities and incentivise Breakaway Communities and their content in a sustainable, deflationary way which locks in liquidity permanently.
The SIP Receives and permanently locks in payments for Network services such as LARYNX miner purchases and advertisement rights purchases into its Treasury. This means that the SIP continuously grows, with the aim of it becoming large enough to generate significant DeFi fees which can
be used to support the project, on an on-going basis.
The SIP uses the DeFi fees it generates, stores them in its Treasury and pays out to the Network's decentralised proposal fund to support Network infrastructure providers (Miners).
A portion of the SIP DeFi fees can be directed to SPK Power (See Section 5) token holders and users who stake SPK to the SIP. The amount directed to these users is at the discretion of the community based on each user's SPK Power vote size.
SIP DeFi pools executed on DPoS chains provide the Network with a feeless, almost instant transaction process which is highly competitive when compared to the existing DeFi industry.
Wrapping of BTC and a selection of other DPoS coins will be possible as part of this project, providing among other things, a highly competitive, low tech barrier to entry, alternative to the Lightning Network on the Hive blockchain and the HoneyComb system.
Bridging to other high end DeFi protocols such as solidity will also be possible as part of the SIP on the Network.
SIPs make it possible for DPoS chains to cap the supply of their governance tokens while creating tokenomics that result in supply scarcity, resulting in supply scarcity of the SPK token, while
rewarding long term holders.
The SIP model can be adapted and applied to any digital service on DPoS chains, not only service infrastructure providers for content.
As the project progresses, the vision is that all Breakaway Communities (see section 8) will be backed by their own SIP's, all tying into an integrated, optimised multi SIP infrastructure ecosystem.
3. LARYNX MINER TOKEN
Locking LARYNX Miner Tokens for governance and providing an infrastructure service to the Network enables a user to mine SPK tokens. The more LARYNX locked for mining, the more profitable the mining becomes.
LARYNX Miner Tokens can be obtained by either:
Sending HIVE to the SIP - a % of the HIVE is auto sold for SPK and a % is sold for BROCA (see section 4). These currencies are then respectively staked into the SPK-HIVE and SPK-BROCA Liquidity pool pairs in the SIP, permanently. The HIVE is exchanged using Auto Market Makers in the respective liquidity pools above.
Or buying LARYNX Miner Tokens off the open market.
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.
Locking LARYNX tokens for mining results in a more efficient mining process, however, over time the locked tokens will be returned to the SIP where they can be repurchased. This simulates a relative efficiency improvement to the latest physical mining rigs in the real world. This creates continuous demand for the latest LARYNX tokens, and encourages additional permanent staking into the SIP.
4. BROCA GAS TOKEN
BROCA is the Network's gas token to limit spam. It is consumed when the user uploads content to the Network and automatically regenerates each day if the user powers up their liquid SPK tokens.
The content uploaders and platforms on the Network provide BROCA tokens as an incentive for the service infrastructure provider miners in the same way a user on Ethereum provides a Gas fee to process their transactions.
BROCA is also liquid and can be traded and transferred between accounts with 3second, feeless transfers, allowing platforms to easily provide a free feel experience to their first-time users.
The higher the BROCA fee provided during upload, the higher the content will sit in the priorities of the content miners mining pools so the uploader can effectively purchase higher quality upload, content delivery and storage services with a higher BROCA incentive fee during the upload process.
Prior to video upload, the Network will calculate an approximate minimum BROCA fee for the uploader to provide for storage and other content infrastructure services. This will be based on the current minimum cost per GB hour of storage into perpetuity, while factoring in the ever decreasing costs of storage each year.
As the Network grows the demand for SPK will grow as the demand for BROCA grows to cover the increased Network bandwidth used during uploading.
5. SPK TOKENS
SPK token is the governance token of the Network. A SPK token holder is able to influence the governance of the Network with their voting weight, based on how much of the SPK token they have Powered up. In order to vote a user must have powered up their SPK for at least 30 days. This gives the Network time to protect itself in case of a Sybil type attack.
The SPK token will inflate similarly to the Bitcoin scarcity model until it reaches a predifined cap, whereby inflation will vastly reduce to a level such that the network continues to incentivise infrastructure adequately maintaining its independence from corporate takeover. Additionally, there will be an option for the Network to use the SIP DeFi fees generated to purchase BROCA or SPK and provide additional incentives to miner nodes once the initial SPK inflation has reached its predefined cap and inflation has begun to reduce.
Users can stake their SPK to the SIP as long as they wish to and collect trading and other DeFi Fees.
The SPK token features Deflationary Frictionless Staking (DFS), whereby the tokenomics punish weak hands and reward strong hands. To achieve DFS, a nominal fee on every transaction is split into two parts and taken as a Network tax which transfers back to strong hands, this contributes to supporting the ecosystem.
The first part of the fee takes a % of every transaction and redistributes it to every wallet holder automatically based on the amount of SPK in their wallets. Moreover, the remaining % fee automatically sends to a burn address that will burn and reduce the total SPK token supply.
The SPK token will also have an un-staking tax for the SIP DeFi pools. This tax redistributes a % SPK being un-staked to the remaining SPK liquidity pool providers.
Both the transaction fee and DeFi pool withdrawal fees have a knock-on effect which means that the remaining SPK Power holders will obtain a more significant % of the BROCA pool if they hold long term. It will
also encourage users to utilise the feeless BROCA token as their utility token on the Network and keep the SPK token staked long term to the SIP to earn DeFi farming yield and increased their Network governance rights.
A SPK bond market in which SPK Power holders can earn additional governance rights / influence and DeFi fees based on SPK Power amount and a time Powered up is discussed in section 13 below.
SPK Power
SPK exists both under a liquid form (simply called SPK) and a staked or powered up form (called SPK Power). SPK is one of the liquid currencies of the Network. It may be traded, staked, bought, and sold.
SPK Power (SP), the staked form of SPK, is vested during a process referred to as a "power up". Upon being powered up, SPK Power can then be entirely or partially un-staked at will, in a process referred to as a "power down". Powered Up SPK then returns to its liquid form (i.e. SPK) in equal amounts over a 4 weeks period, with a segment delivered every 7 days.
SPK in the form of SPK Power gives the user governance rights to vote within the Network. The more SPK Power a user has in their account, the more influential the user's vote is. Additionally, users SPK Power balance affects how much influence the user has in setting Network variables.
Where a user does not vote on system variables, that vote will be automatically proxied to the elected content validators. This means there is no dead vote or voting apathy.
6. TOKEN USE CASE SUMMARY / TOKENOMICS
| Token | Uses | Transaction Fee | Earn by Staking to SIP DeFi Pools | Inflationary / Deflationary |
|---|---|---|---|---|
| LARYNX | - Mines SPK Tokens | Feeless | No (Lock for mining only) | Fixed Supply |
| BROCA | - Pay infrastructure incentive fees - Utility Tokens | Feeless | Yes | Inflationary |
| SPK | - Power Up for Governance - SP Stake Weighted Governance - Powering up replenishes BROCA balance | - Transaction fee - Staking Fee - Unstaking Fee | Yes | Inflationary (Diminshing) |
| HIVE | Exclusively for purchase of LARYNX Miner Tokens | Feeless | Yes | Inflationary |
LARYNX Miner Tokens are locked for mining alongside Network infrastructure provision by the Miner. The miners then get paid in SPK and BROCA. The payments help to decentralises the Network making it more secure and begins the distribution of the supply of SPK governance tokens, which starts off at zero.
As described in sections 3 & 19, users pay HIVE and thereby, automatically & permanently lock HIVE, SPK and BROCA into the SIP DeFi Liquidity pools in exchange for services such as Network ad rights and making payments for the latest increased efficiency LARYNX Miner Token upgrades, this means that liquidity locked in the SIP grows continuously.
A fee / tax on staking and un-staking the SPK governance token to the SIP DeFi liquidity pools means that long term SPK Power holders are rewarded with a larger share of the governance rights over time. This also creates a deflationary pressure on the SPK token since this tax encourages users to hold SPK Power long term, taking SPK off the market.
7. DECENTRALISED PROPOSAL FUND
DeFi Fees generated by the SIP for its Treasury, can be directed, by the stake weighted vote of SPK Power holders, to fund proposals that are made by the community.
Any user in the community will be able to create scopes of work that contribute to Network improvements, and developers will be able to place their lowest-priced bids to compete for the work. The community will then be able to use its stake weighted SPK Power vote to decide which developer bids receive funding from the SIP DeFi fees in the Treasury.
There is also a separate proposal system that gives Hive Power holders the ability to vote on the distribution of the unclaimed LARYNX Miner Tokens. This is further detailed below in section 18.
8. WEB 3.0 CONTENT SITES & BREAKAWAY COMMUNITIES
Breakaway Communities are content creators and their communities that set up on the Hive blockchain and SPK Network and 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.
Independent and self-hosting content creator websites will be able to utilise the Network to create their own immutable Breakaway Communities, direct account ownership, community social token economies, NFTs and also distributed storage of their content.
The types of content / files that can be stored in a distributed way, to the Network's IPFS system are Images (for tokenised memes and thumbnails), videos and NFT's .
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
9. IPFS STORAGE SYSTEM
IPFS is a distributed, public storage system that is employed on the Network for content storage. It takes content files and hashes them, generating a unique Content Identification Number (CID) for each file. As users view content using the desktop applications on the Network, they automatically pin the files to their local IPFS node and share it with the rest of the Network, allowing content miners to take multiple copies of the content and ensure it is propagated, widely across the Network.
Further information on IPFS hashes can be found here:
https://docs.ipfs.io/concepts/content-addressing/
10. PROOF OF ACCESS PERMA WEB
The IPFS content storage system combines with a Proof of Access (PoA) block mining system to distribute and incentivise file storage on the Network.
Storage miners (One of the types of infrastructure nodes) can be rewarded by the Network by mining content files from the head block and proving that they have stored files from an historical part of the Network (called the recall block). PoA encourages storage miners to store as much of the historical Network as possible to maximise the chances that they can 'prove access' to the recall block and therefore have an increased chance of receiving storage mining rewards.
For example, if a storage miner stores 100% of the Network, they will receive a mining reward 100% of the time. If a storage miner stores 10% of the Network, they will receive a mining reward 10% of the time.
PoA creates an incentivized Perma-Web, where permanent storage of content is rewarded. This stored content can be accessed and utilised freely by all front-ends, websites, platforms and communities built on the Network.
Each IPFS file storage block is cryptographically linked to provide a chronologically traceable timeline upon which individual piece of content was uploaded.
See the Arweave white paper here for further information on PoA Mining: https://www.arweave.org/technology#papers
11. SERVICE INFRASTRUCTURE NODES & MINING
Infrastructure Nodes are nodes that anyone can operate in the Network which provide digital services that support the Network's infrastructure. These nodes consist of the following types: Content pining Nodes, Service Nodes, Storage Nodes, Content Delivery Network Nodes, Validator Nodes and Encoding / Transcoding Nodes.
Users will be able to activate the node technology they wish to operate by downloading the Infrastructure Node Software Bundle. With the bundle, users can set up and configure the various Infrastructure Nodes they wish to operate via plugins.
All infrastructure nodes are referred to as miners in the Network, receiving some form of incentive for running infrastructure services. However, storage miners use the PoA mining system, which is the only mining on the Network that requires a dedicated blockchain mining mechanism. The nodes on the Network are rewarded by being tracked by the HoneyComb technology (see section 13), which then distributes rewards.
Mining on the Network is done by locking LARYNX Miner Tokens and providing one of the following infrastructure services by running the mentioned nodes:
Content Caching / Pinning Nodes
Viewers watching and completing advertisements will receive a nominal reward in BROCA and initial SPK inflation. Users auto pin the content file to the IPFS Network when they click play, as long as they have advertisements enabled, they will receive their rewards once they have
viewed their advertisement.
Infrastructure Service Nodes
Service nodes keep track of information stored in the Network's distributed databases and run much of the technology behind the Network. These nodes are responsible for storing and tracking operational information in the Network, such as caching and indexing.
Service node operators will be rewarded based on a DPoS witness voting mechanism in which the community will elect their preferred service node operators. Elected service node operators will be rewarded in both initial SPK inflation and BROCA rewards.
Users will also be able to assign a portion of their rewards in the form of beneficiaries to support their preferred service node operators via a feature built into the desktop application.
Content Storage Nodes
Any user can provide distributed storage services of content files in the Network either using their local hard drives or industrial scale remote servers, and participate in the PoA mining process to receive both SPK and BROCA mining rewards.
Storage Nodes will be able to set minimum BROCA incentive fees and maximum file sizes that they are willing to accept.
Validator Nodes
Validator nodes run independent, random spot checks on other Network nodes to ensure that infrastructure providers receiving mining rewards are providing legitimate services to the Network. Validator Nodes use an Adaptive Interacting Incentive Agents (AIIA) game driven social ranking system to rank other nodes based on various social performance criteria, such as:
Accuracy of content they store.
Quantity of content that the node censors.
Content delivery and response time.
The highest social ranking nodes become the standard for which content is accepted in the blocks of the PoA algorithm. Validator nodes receive initial SPK inflation and BROCA incentive fee rewards for providing this service.
Content Delivery Network Gateways
Any user can set up and provide their Content Delivery Gateway services to video viewers in the Network and receive SPK and BROCA rewards. These also essentially function as IPFS gateways within the Network.
CDN nodes detect what content is popular locally and store it to improve routing efficiency. To reward the node, overall Network throughput can be compared to the throughput of the individual CDN nodes. Additionally, CDN nodes can be rewarded based on their responsiveness and content accuracy by validator nodes, in the same way as storage nodes are assigned social ranking scores.
Rewards will be paid out in BROCA incentive fees and initial SPK inflation
Encoder / Transcoder Nodes
Any user can provide their encoding / transcoding services to video
uploaders in the Network and receive BROCA payments for doing so.
12. OPEN SOURCE DESKTOP APP
The 3Speak open source desktop application is the first independent desktop application to run on top of the Network and use its IPFS storage system for its content files.
The intention is to create an application that all developers can contribute towards in an open source manner and make it simple for users to easily start up their own, customised version of a content platform that benefits from the censorship resistance capabilities of the
Network.
Additionally, if the 3Speak web application were to be shut down, all content and function would live on, on the open sourced desktop application. The Speak Desktop app is an additional layer of security against an attempt to shut down 3Speak from external attackers. This also applies to other platforms operating on the Network.
The desk top application is downloaded and runs locally on the user's device.
As the project progresses, the Ecency open source application will integrate 3Speak's video uploading capability and integrate with the Network IPFS file storage system. Following this, the SPK Network and Hive community will be invited to submit their own front-end skin designs so that anyone wishing to set up a standalone Breakaway Community website / front-end can do so easily, with a range of choices of front-end designs and styles, backed by Ecency's world class open source technology.
Download the 3Speak Desktop App here:
https://github.com/spknetwork/3Speak-app/releases/latest
13. UNDERLYING TECHNOLOGIES
HoneyComb
This software builds a network of peers that use HIVE to post and interpret transactions. This allows these peers to come to a consensus and elect peers to run tasks. Distributing computing in this way allows a vast amount of potential applications, DeFi, and oracle services. By distributing authority to perform transactions a frictionless (no intermediate tokens, no central authority, no intrinsic fees) way to cross asset boundaries (HIVE/COMB) with no information asymmetries, ie Finance without securities by definition is made possible.
The scope of HoneyComb technology is to provide the following:
- Proof of Access & SPK Network Test Net.
- LARYNXx miner purchase mechanism.
- BROCA incentive token release.
- Develop Broca functionality (paying for storage, CDN, encoding, and other infrastructure)
- Stake weighted voting system for setting Network variables.
- SPK DAO.
- Mining Rewards distribution system.
- Integrate Token system into Desktop App.
- SPK Network Bond System.
- Community Social Tokens creation system.
- The longer and more SPK tokens you Power Up, the higher your interest rate is. Additionally, the longer the Power-up is locked in, the more influential the governance vote becomes, rewarding long-term holders with proportionally more influence the longer they Power Up.
- Voting system where voter can see what infrastructure each node operator is running and vote them into validator node top concenus position with SPK tokens.
Mining Mechanisms
- Interfacing / integrating Honeycomb with SPK Network mining mechanisms.
- Storage (Proof of Access) Mining system.
- CDN rewarding.
- Encoder Node rewarding.
- Validator Node rewarding.
Proof of Access System
- Provide algorithmn for PoA/proof-of-storage hybrid
- Prevent possible manipulation of PoA algorithmn
- Gather metrics from storage nodes.
NFTs
- NFT Market place and bidding platform.
- NFT Storage on IPFS.
- NFT Mining by Staking Community Social Tokens.
- NFT Memes System.
Service Infrastructure Pool (SIP)
- Staking for liquidity provision (DeFi).
- Payments into SIP for LARYNX tokens.
- Payments out to Project Funding Pool.
- Payments out to Support Infrastructure in times of low system payouts.
- Community Liquidity Pools & DeFi.
SPK Network Proposal System
- Task Setting System.
- Funding mechanism from SPK DAO.
- Task Bidding System.
- Bidder Voting System.
Read additional information about HoneyComb here:
https://www.dlux.io/docs/
HIVE Blockchain
The Hive blockchain is used as the primary text based information store as well as the primary Web 3.0 user owned accounts system. Hive allows the easy storage and retrieval of immutable strings of data and information. It sports three-second, feeless transactions and is designed to store vast amounts of content and make it available for time-based monetization. Hive recognizes that transaction fees are often among the largest challenges to facilitating development and flexibility of use on a blockchain. Instead of requiring potentially costly and inconvenient transaction fees, Hive uses a novel stake-based Resource Credit mechanism to create a fee-less model. Hive's DPoS protocol is one of the most decentralised, highly scaleable models in the entire blockchain ecosystem.
HIVE and Hive Power holders will receive LARYNX Miner Tokens as part of the token claim drop (See section 18 for further information on the claim drop).
Read more information about the Hive Eco System here:
Hive.ioRead Hive blockchain white paper here: Hive White Paper
Open Source Distributed Database (OSDD)
The Network also employs an OSDD system, a decentralized database for storing information and guest account management. Information such as account metadata, posts and comments can be stored on the OSDD.
The OSDD will allow the Network to have guest and offline accounts operating with basic functionalities such as uploading off-chain, commenting off-chain and adjusting account settings. The OSDD can also be used to assist with access to the Network using other blockchain accounts than Hive accounts alone.
Some examples of OSDD's are:
OrbitDB (https://orbitdb.org/
IDX: https://idx.xyz/
Ceramic Network: https://ceramic.network/
Textile: https://textile.io/
14. LIGHT ACCOUNT SYSTEM BLOCKCHAIN INTEROPERABILITY
The community will work towards adapting the above mentioned OSDD system to allow Network access and upload capability from blockchain accounts such as Hive, Ethereum and Bitcoin
Integrating the above guest account system means that an Ethereum account holder for example, will be able to create a light account by using crypto graphic signing that proves that they are the account holder. The Ethereum user will then be able to post content to the Network under their EID account name as well as send and receive content donations in Ethereum. The same would be true for the Bitcoin and Hive blockchains, meaning users would be easily able to send tips to and from each other's content using this system.
15. COMMUNITY CONTENT REGULATION & DEMOCRATIC BLACKLISTING
There are two types of content regulation possible within the Network:
Storage Miners and Content Validator Nodes Setting Content Policies
In order to have the highest chances of being rewarded, storage miners and validator nodes are incentivised to store as much of the Network as possible due to the way the PoA storage rewarding system works. The more of the Network a miner backs up, the higher the chance they are able to prove that they possess the recall block, the more mining rewards they can therefore receive.
Other miners in the Network, especially those with high social ranking, assigned by other validator nodes in the customised public AIIA game, can decide not to store certain content CIDs if they deem the content to be too extreme or unacceptable. If enough of the high socially ranked storage nodes decide not to store certain content CIDs, the content will likely not be accepted as part of the recall and candidate blocks, which means it will not be rewarded for being stored on the Network. The intention is that this method will still result in wide-scale storage of content to maximise miner rewards, however, certain files will be excluded from storage rewards and therefore will not be stored in the Network's recall blocks, making them unavailable on the Network IPFS system. This is a type of community lead content blacklisting which does not get decided by one single central party, but by a consensus of the highest socially ranked nodes in the Network who are incentivised to maximise the amount of the Network they store, but also are incentivised to make sure they store acceptable content in order to maximise their social ratings.
Custom Open Source Content Portals
Custom open source content portals allow users and platforms to set content policy directly within the Network. Users and platforms will be able to identify tags and build their own content portals around avoiding certain tags and NSFW content. This would allow users and platforms to experience the Perma-web through a tailored lens, rather than being exposed to all content without exception. These content portals will be open source and any user or content platform on the Network will be able to apply or tailor them as they best see fit to suit their own viewing experience. This method would also allow the wider community to identify wrongly tagged content and force an NSFW tag onto it so that the extreme or unacceptable content could be excluded from being viewed in certain Content Portals.
16. MINING RARE, COLLECTABLE NFT MEMES
Users can mint a limited number of NFTs for a small BROCA fee, which is locked into the BROCA-SPK SIP liquidity pool. The goal is that content creators will be able to attach memes to the NFT's issued from their accounts which can then be stored and transferred across the distributed IPFS content storage system.
Users who Power Up the tokens of content creators will be able to mine these memes each month. The number of NFTs for each meme issued being limited, they become collectors' items. Therefore, for as long as the content creator or community continues to produce valuable content, their token power holders can be rewarded with rare collectable, tradable memes each month. This gives the collector status within the community.
This mechanism turns the content creator's token into a growth mechanism, in a similar way to how stockholders receive dividends. In the same way that this issuance of the dividend in a stock creates a growth function from a successful company's stock price, so too do the same forces create a growth function from a successful content creator's token since powering it up will be rewarded with rare, collectable memes. These NFT backed memes can then be displayed by the user on the Network's NFT marketplace or on the Breakaway Community / content creator's front-end website from which it originated.
17. MAIN (CLAIM DROP 2)
A one-time HIVE wallet balance blockchain snapshot shall be taken at a specified date and time. There will be a 90-day countdown prior to the snapshot. The claim drop of LARYNX Miner Tokens is once per month, each month to HIVE and HIVE Power holders. Users will have to log into the 3Speak Desktop App each month to claim their monthly balance.
Unclaimed tokens:
The Hive community completely controls the distribution of the unclaimed LARYNX Miner Tokens. 3Speak has no control over where these unclaimed tokens are sent. It is proposed by the Hive community that the tokens are placed under the control of the Network's Decentralised Proposal Fund System, as described in section 7. Any user may submit a proposal, and HIVE Power holders will be able to use their Hive Power balance to vote on proposals, releasing the distribution of the unclaimed LARYNX Miner Tokens.
18. AD RIGHTS
General Ads:
Advertisers can pay for Ad rights tokens by sending HIVE to the SIP - a % of the HIVE is auto sold for SPK, and a % is sold for BROCA (see section 4). These currencies are then respectively staked into the SPK-HIVE and SPK-BROCA Liquidity pool pairs in the SIP, permanently. The HIVE is exchanged using Auto Market Makers in the respective liquidity pools above. Content Creators will receive SIP DeFi fees for enabling ads and taking ad rights tokens as payment for advertisements on their content.
Tailored Content Portals (see section 15) will be partly used to target advertisements to specific groups of content consumers.
Breakaway Community Targeted Ads:
Advertisers will be able to Power Up or spend the tokens of specific content creators or communities on advertising directly on their community or front-end websites at rates controlled by the content creator or specific community. Alternatively the ad rights token model mentioned above will be an option for individual content creators or communities where the ad rights token is specific to the individual community.