Hive is just one of the six blockchains @Nyxlabs unifies here at The River Styx. Allowing you to monetize yourself with full control over your original content and its creative commons. Posting through Styx protects your original creations while simultaneously allowing you to earn on Hive! Hive Blockchain is also home to our very own NyxLabs token Smana!
What is Smana?
Smana is currently just a way to support the Nyxlabs project The River Styx. At our current state smana is not currently tied to The River. There are a few technical aspects that need to be evaluated before the two can be linked.
Hive Blockchain itself functions primarily on two forms of currency:
HIVE = the token rewarded for curation, posting, and governance.
Hive Back Dollar (HBD) = HBD is backed by $1 worth of Hive. and also rewarded on posts. (More in-depth information can be found here on a post authored by @taskmaster4450 on Hive)
There are 3 states in which you can hold your HIVE and HBD
Liquid: This is HIVE you own but is not benefiting you in any way. This form can be moved around, sold, exchanged, and traded and is rewarded on posts.
Staked (HP): Staked hive also referred to as “powered up HIVE” provides many benefits on the blockchain. The more HIVE you have powered up the larger your rewards, voting power, resource credits on the blockchain, and more stake in blockchain governance. To return staked HIVE into a liquid state, you MUST “power down”. Powering down HP is a 3-month process and is paid out in 13 weekly payments.
Savings: Exactly as it sounds, savings is a safety net for liquid HIVE and HBD. It takes 3 days to withdraw any HIVE from savings.
Post on Styx and Earn on HIVE -(you must already have a Hive account to complete this step)
To link your Styx account and your Hive account
Step 1: Navigate to The River while logged in and look for The Waterfall and click it. This will take you to your own personal Styx backend.
Step 2: Once The Waterfall has loaded you will see a toolbar on the left side of the screen.
Step 3: Click the drop-down arrow next to Settings > Click Exxp
Important: You must have your hive username and your private posting key!
Step 4: After clicking ‘Exxp‘ enter your Hive username and posting key into the applicable field and be sure to hit the “Save all changes” button!
Step 5: Once saved, the page will reload and provide some new setting options relevant to the Hive ecosystem. Be sure to review these settings!
Now you are ready to share your Styx content with the Hive Ecosystem!
Terminology of Hive:
Keys: Every user is given a set of keys for their account upon creation. Each Key gives a different level of access to your account.
Owner Key: The owner key is the most important key. This key can be used to change all other keys tied to your account. With this key, your account can be completely hijacked or compromised. Loss of this key severely limits the operation of the account. Guard this key carefully.
Posting Key: It is exactly as it sounds. It is used for creating posts, upvoting/downvoting, and all social interactions such as following/unfollowing, muting, and reward claiming.
Active Key: The active key should ONLY need to be used to confirm transactions or trades or change user settings.
Memo Key: The Memo Key is used for private messages and encrypted transaction memos. The memo key is the only key that can encrypt and decrypt messages linked to your account.
Master Password: This is the password that keeps your wallet and your keys safe. The master password can also be used to retrieve all private keys of an account.
Reputation: Every account begins with a reputation of (25). This number is oftentimes next to your name/profile image. This reputation is a way to validate an account’s standing/contributions to the community. Over time your account reputation will change based on the number of votes you get. Receive downvotes and your reputation will decrease. Receive upvotes, increase your reputation.
Upvote: This is your ability to approve of content on the HIVE blockchain. This is determined by your HP and the percentage you choose- your upvote equals a monetary reward for the content you are upvoting. Example: 730 HP + 100% vote will equate to a vote of $0.02
Downvote: Similar to your upvote option but instead of giving a monetary reward you removing value from the post. It is your discretion as to why you are using your downvote. Commonly used for plagiarism and instances of identity theft.
Rewards: Rewards are determined by the Dapp that you are utilizing to interact with the blockchain. Front ends like peakd and hive.blog payout rewards in HIVE/HBD but others like leofinance, for example, would generate LEO tokens. When posting through Styx you mirror to Peakd earning you 50% HBD and 50% HP on the Hive blockchain.
Resource credits: This is the amount of “power” that you have to complete actions on the blockchain such as voting or posting. Each Hive user is allotted a weekly allowance of resource credits based on your HP. If you use all your resource credits you will have to power up more Hive or wait till you are issued your new weekly allowance. If there is a lot of traffic on the blockchain resource credits costs may fluctuate
Voting power/Voting mana: The percentage of your HP you are using to vote with. Power does drain through usage meaning: your vote carries less weight each time. Power will naturally recharge 20% every day.
Delegation: This is in regards to your Hive Power. Meaning that you are allowing other users to “borrow” your HP and use it as if it were theirs.
Witnesses: A witness is a person/project that operates a witness server on the Hive Blockchain. This server produces blocks and publishes a price feed of HIVE/USD to the network. These blocks contain various types of information all relevant to date stored on the blockchain. Witnesses also work together when making large developmental decisions for the blockchain.
Second Layer Tokens: These are tokens that utilize the HIVE ecosystem in different ways and runs on Hive-engine. These tokens have various uses and can all be exchanged for HIVE on the Hive exchanges. Our token Smana is considered a 2nd Layer Token. Usually, the best way to find out what a token is for is to find/join that token’s discord community or read about it on the exchange.
Check out some of our friends on Hive:
Things to know:
Once you reach 500 HP (Staked Hive) a vote slider will appear when navigating Hive front ends such as peakd and dbuzz to control how much power you would like to vote with your voting power.
Manual Curation: Hand selecting each post and comment that your account upvotes.
Automated Curation: Your account automatically follows curation trails of accounts that upvote content that you approve of. It is your responsibility to know what your account is upvoting.
Curation trails: When you find an account that upvotes content you approve of you can set your account to automatically follow/trail that account. This means your account upvotes whatever that account upvotes. Generating passive curation rewards. Use hive.vote to start your curation trail journey. You will need to know the username of the account(s) you wish to follow.
Curation Rewards: In the Hive ecosystem it is currently set up so 50% of the payout goes to the author of the post/comment, and 50% goes to the curator.
To maximize curation rewards you want to vote on a high-quality post within the first 24hours of it being posted. Note: curation rewards decrease after the first 24hours and again after 72 hours (3 days).
Claim your curation rewards daily!
Never plagiarize. There is a heavy emphasis on original content. This applies to everything posted and shared with Styx and with HIVE-related ecosystems. If you are using content that is not yours always cite your source. Do not try to monetize other people’s work – that is stealing.
Reward Pool Milking: This is frowned upon. This includes but is not limited to: utilizing accounts you control to supplement votes/rewards for your content or abusing Hive’s second layer engagement tokens to maximize personal profits. Meaning: Spamming commands on your posts.
PeakD: It is a great all-around HIVE Dapp with a lot of ways to keep track of your HIVE account. Peakd allows you to review your account/ wallet/ claim rewards/ and vote for blockchain governance. You can do most of your HIVE blockchain navigating using Peakd. When you post on Styx your post will mirror on Peakd.
Hive Blockchain has an internal market for trading Hive to HBD with exclusive rates! This is also accessible through peakd.com/@username/wallet
Peakd Wallet View Internal conversion market
Purchase smana with HIVE in your wallet:
- Proceed to https://leodex.io/ or https://hive-engine.com/
- Note: Leodex claims a .25% fee when depositing or withdrawing. Hive-engine’s fee is 1%
- Deposit the amount of HIVE you would like to use to purchase your smana. Remember to consider fees.
- LeoDex users: Select the “Market” tab. The top left corner above the graph is a drop-down. Type: smana.
- Hive-engine users: select the tokens tabs and search for smana click the button that resembles two arrows.
- Results: This will take you to the market view for Smana. Here you can view all the information you need to know about the status of the token in order to buy or sell it.
Smana market view Depositing liquid HIVE into the exchange. Approving the transaction using keychain Validating that the HIVE was successfully deposited. Now used that HIVE to purchase your smana.
https://hivestats.io/ by @leofinance
https://he.dtools.dev/ by @reazuliqbal
More information about curation by @blocktrades