Discovering Second Layer Tokens

Believe it or not but there hasn't been a single day that I haven't learned or discovered something new while doing my things on Hive. Usually, these discoveries have something to do with layer 2 projects.

Just out of sheer excitement, I'd like to share a couple of these interesting finds.

MUSIC

Just over a week ago, I wrote this article about Jimi Hendrix which I posted on the Music community. After the payout, I noticed I had received MUSIC tokens on Hive-Engine.

By clicking the tokens info button on H-E I found my way to BlockTunes. There I discovered their front end and found more information about the token and its use cases.

MUSIC can be used to stake and earn SWAP.HBD rewards from the BlockTunesDAO and can also be used to purchase music NFTs from the BlockTunes Hive based NFT Marketplace.

I've been planning on being more active in the Music community and actually have some pretty decent ideas for articles in the drawer. To be honest, I didn't even know that there was a MUSIC token so this is a great example of how you can find interesting tokens just by accident.

The discovery of MUSIC tokens can incentivize and motivate me to pick up my courage and pick up those drafts from the bottom of the drawer.

INDEX

This one I discovered while I kept constantly bumping into a hashtag #Index4Index. Discoverer by nature, I wanted to find out more, and through @tydynrain 's post, I ended up reading @jongolson article about the project.

It's such a great initiative and even though I haven't yet participated in the project itself, I did my research about the Hive-Engine INDEX Token. According to their website, the INDEX token represents the best performing tokens on the H-E market. It is 100% backed by the tokens it represents.

For every INDEX purchased, a weight is given to the individual tokens represented, INDEX then purchases the corresponding weight of each token.

You can earn INDEX by taking part in the #Index4Index project or just simply buying some on the market as I did.

I find both the project and the token really interesting and also, in this case, the interest in the token will encourage me to take part in the project and who knows where that might lead me!

GLX

I'm pretty sure that many of you are familiar with the GLX token since the hype seems to be all over the place. I don't remember the exact moment when I first heard about it but that joyous feeling of discovery came from learning that I can benefit from my SPS staking.

Genesis League Sports is an upcoming play2earn sports platform and ecosystem. There is the Splinterlands team behind it so it's understandable that there is a lot of excitement and expectations around the project.

If you are staking SPS on Splinterlands you can earn GLX tokens through the still ongoing airdrop. Those tokens you can then stake here to earn even more GLX.

This useful calculator(thank you, @mypathtofire!) will help you find out how much SPS and GLX you will be earning from staking both tokens.

Conclusion

So, tokens can lead you to projects and projects to tokens. Either way, being eager to learn and discover while navigating through Hive can lead you to something new and exciting every day.

These are just a few examples of many projects on the Hive ecosystem. I'm always willing to learn about new ones so do drop a comment about your discoveries!

Note that this is not financial advice and you should always do your own research.

Thank you for reading!