The updated guide for second layer tokens, part 1

Introduction

One thing that always intrigued me is every time that I received a drop of a hive token I had to search....search...search if this token was to hold, stake, or sell it! Hive gives the possibility of receiving lots of tokens all the time and it takes some time to get used to some of them, and for others, we just give up. I remember the first time that I received the Utopis token I have just decided to sell it because I didn't find the function! Nowadays I changed my mind of course.
So it came to my mind if it is possible to summarize each token in the blockchain. Well, I think that is impossible, so maybe gathering the most popular ones?
Searching around I found an awesome post from @zwhammer the link is here : Zwhammer post.
In this post, he creates a table grouping the tokens by categories, which is something that I was thinking about. Also in his table, you have a description of each project and tokens associated with them, sometimes projects have more than one token. Another thing that you can find there is how to tag each project so the user can benefit the most from it, which is something that I didn't think about doing, but it is very important.

In general more tokens staked = more community curating power that leads to more token coming back as rewards

This is one of the main concepts at HIVE. A different concept that took me a while to understand how it goes, so different from the usual staking in many blockchains, which is also present here in hive also, where we lock some tokens that have a sort of interest. In this case, we lock tokens and every time that we post using a tag of a certain token or vote in posts that have the tag of this token, we get some tokens as rewards. Understanding this concept helps you maybe to understand more than 80% of the tokens in the blockchain, since most of them are associated with tribes' front-end. Actually, they work similarly to the hive staked into Hive Power (HP) in your account.

LeoFinance

To start with we can start with LeoFinance. It is the biggest financial tribe on the blockchain. Interesting that they have one main token and three other investing tokens with interesting returns.

LEO token

LEO is the main token of the community, it is the token used to get rewards back for posting and curating in the community. When staked it works similar to Hive Power. Every time that leofinance tag is used in a post the user receives some of this token as a reward.

LEO Miner (LEOM) and LEO Mega Miner (LEOMM)

I grouped both because they work in a similar way to mine LEO. The only difference is that LEOM gives you 1 mine power and LEOMM gives you 4. The exact way how to calculate the probabilities of mining LEO with these two tokens is described in this post.

meowLEO token (MEOWLEO)

The fourth token from the tribe is interesting and you can get as a reward for delegating LEO tokens to @meowcurator. Why getting this token? Its value is almost 10x bigger than LEO token. How to delegate if you never did that? In your hive engine wallet for every token you have bottoms, including the one to delegate to some other user.

PIZZA guild

It is difficult to define Pizza guild in a certain group of tokens, since it provides benefits in many areas, but mostly financial and gaming. I their website there is dAPP for hive blockchain with lots of useful tools and they have one token called PIZZA. In addition to that, there is a discord server.

PIZZA token

The PIZZA token had been getting more functions as it grows. When I started holding it, the main function was to stake it and get the !PIZZA function enabled for the user. Every time that you use the !PIZZA command in a hive comment, it provides 0.1 PIZZA for the post owner. Of course, for that you need a minimum of 20 tokens staked. In addition to that, the PIZZA holders are classified by the amount of PIZZA in their staking, depending on your classification, you participate in certain giveaways in the discord server to get tokens, NFTs, HP delegations and etc. PIZZA token has been also a nice exchange coin to buy NFTs in games on the blockchain and other game-related things. During the past months, they announced that also with a minimum 30 PIZZA staked, you can get some interest and gains from that. Recently they also announced scholarships to fund holders in games, starting with hashkings for now.

What to expect from this post series

As you can see I will start to explain a little bit more about hive tokens, so please, if I missed something, let me know in the comments. You guys can also give some suggestions about what tokens you want to see more here. I am planning to go to the gaming associated tokens in the next post.