What are the use cases for the DLUX token?
I often provide some sort of information about the Hive ecosystem in my posts, but this time I am the one who seeks to understand better something, and so, I'm asking a question hoping for an answer or more from those more familiar with the topic than I am.
What I'd like to know more about is what is/will be the role/use cases of the DLUX token in the DLUX network.
I can see it exists as both DLUX and DLUXP, so my immediate conclusion is that DLUX Power must be the governance token of the DLUX network.
If it works similarly to HIVE and HIVE Power (and so far the terminology used suggests they are following the working model that Hive provides), then DLUX is the liquid token and DLUXP is the non-liquid token, and only DLUXP counts for governance.
HIVE Power also has the mechanism of distributing inflation through the so-called Proof-of-Brain, which I believe DLUX doesn't have. I might be wrong.
How about fees? Are transactions fee-less and DLUX borrows the RC system from the Hive base layer?
What are the existing use cases for DLUX/DLUXP? What are the planned use cases, if anything more?
What I would call use cases for a token are:
- benefits for holding it
- sinks for using it (as a balance to faucets that distribute it)
- mechanisms of burning it
HIVE/HIVE Power has all 3 of them. Although they can always be improved. But I'd like to know more about what we have/will have at the level of the Hive sidechains. And I know less about DLUX than I know about Hive-Engine.
There are a number of node operators (@drlobes?), maybe not on DLUX itself, but on the SPK Network, which is close enough (hopefully), who are also active in Leofinance.
I wonder if you guys could share some of what you know about the role of DLUX/DLUXP, especially if there is a (planned) use case besides the governance role for the DLUX network. Thanks!
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I don't even bother about these tokens anymore. I have claimed some for a few months, but both DLUX and SPK are out of my radar for a while...
It makes sense. One can only focus on a couple of things.
This is not about the actual tokens but more about what's being built behind those tokens, SPK and Ragnarok networks...in a couple of years you'll feel kinda sorry for not being part of this since the beginning.
Sorry, I am no help. I am totally unfamiliar with DLUX.
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No problem.
You should ask @disregardfiat directly. He is the main developer AFAIK.
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I know. I hoped not to bother him with this question. There should be others who are aware of this information.
You can try https://vue.dlux.io/docs for more information.
Yep, I checked that one. Luckily, disregardfiat answered too.
That is good to know 👍
I have not even heard about DLUX so far. This is the first time I read about it. I would click on the "About Page" button on their website, but currently it does not work.
Yeah, the UI is a work in progress...
This should be fixed now. We actually do want to hear these complaints 🙃
Happy to help: DLUX is the liquid token that can be traded freely. DLUXP is a powered version of DLUX that can be used for Proof of Brain. Voting on DLUX content is all that's allowed. This content presently has to set the @dlux-io account with a beneficiary reward and this account has an auto-voter to turn Proof-of-Brain DLUX votes into a Hive Vote as well. There is a DLUXG that you can interact with after you've set a node up. It's used for some very basic governance votes around the DEX and to determine that collateral/order book limits for the DEX.
The scope of this project is absolutely massive, and while the site is presently capable of most of the token interactions it would still be impossible to use the site to help make DLUX content presently. For those that are following SPK network we're piggybacking the content network there to incentivize DLUX content storage. It will be much easier for me to develop these basic features on our site and if you read my October Update you'll see just how far we've come on building out this infrastructure... that will have guides to set up... so everybody can run a copy of it, provide storage and validation, earn a little rewards... and be a part of the decentralized internet.
DLUX content is anything that can be loaded into a browser via HTML... and I'm really hoping this flexibility will power more of web3 than our initial VR focus.
Another Use of DLUX tokens are our NFTs... NFTs I believe will represent a much larger piece of the future internet, though I doubt very much they'll all be as sought after as a bored ape. I'm picturing rights management, and things that legacy networks like youtube are terrible at in general.
Thank you for taking the time to respond, @disregardfiat!
I didn't realize you guys have POB on DLUX. I am not clear if it works with any type of content (related to DLUX) or with SPK content.
I just read in your update that you moved away from AWS and created your very own IPFS gateway. That's very impressive!
So, NFT creation (transaction fees?) will be paid with DLUX? That's a very good use case.
I've been out of Hive for a while now and I'm really confused about the Larynx/SPK stuff that appeared on Ecency... what is it and where did it come from?
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SPK Network is a monster of a project. When fully developed, it will allow decentralized and incentivized storage and rendering of video content (and not only video). It will be the backbone on which more video interfaces can be built, besides 3Speak. There are many more facets to this project, like an in-built defi component based on HIVE, another component that will allow inter-blockchain communications. That's what I can say from the top of my head, and hopefully they are all still on the table. The problem is this is not a project that can be developed easily or quickly, and we know patience in crypto is something rare.
Cheers! I'll definitely taka a closer look at that one.
I see that you got the answer already, I'm not using dlux yet but what I can tell you if there was no dlux first, there would be no SPK or Ragnarok network set up in such a way, dlux is the pioneer!
Yep, I understand that. Thanks for dropping by.
I haven't bothered but I did stake some DLUX. It's a bit too bad that it hasn't really done much and I never seem to earn anything from what I have staked. So I am not sure if I don't know if we can even earn anything with it.
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It seems it has POB from what disregardfiat said. I wasn't clear from his answer how it could be used. Maybe he replies back and we'll get more info on that.
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I only use DLUX network whenever I claim my LARYNX airdrop once a month and whenever I buy more LARYNX to power up. I am not aware that the network has a token too not until this time.
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DLUX is a Hive sidechain like Hive-Engine, although different in many ways. The token is like the BEE token for H-E, from what I understand.
Yeah, but just like you, I am also wondering about the utility of the token.
disregardfiat, the main dev for the project, answered the post, look at the top-voted comment.
Thanks for the info. 😊
!CTP
Thank you for asking all of those questions about DLUX, @gadrian. It would be nice to know the use cases since I am collecting them every month.
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I think you are collecting LARYNX tokens from the claimdrop. And SPK tokens from the staking rewards. DLUX you only collect if you buy them directly. disregardfiat answered (check out top comment). He is the main dev for DLUX and for SPK network.
Thank you very much, @gadrian! 😀
I will have a look at that.
Enjoy your Sunday! 😀
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