New Momentum for Hive

If you’ve been following my short-form posts, you might get the impression that I’m really excited about Hive, even though this season’s Hive price action has generally been in a downtrend. Indeed, Hive’s price has made the platform feel somewhat left out this season, and while I can understand that observation, I still believe there’s a good chance we’ll catch a tailwind that could draw investor attention back to Hive and encourage some diversification toward the Hive ecosystem.

Of course, this is just my personal take and shouldn’t be considered financial advice, and what I’m really trying to say is that the upcoming developments in Hive might positively influence its overall price movement, whether temporarily or, hopefully, in a more lasting way.

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Specifically, I’m referring to the upcoming HardFork 28 and the launch of the BTC/Hive liquidity pools on Altera (Magi Network). Both events are expected to happen in November, and they give me hope that we’ll see renewed excitement in the next three months or beyond, especially if these initiatives gain real traction.

HardFork 28 will introduce changes to Hive’s curation dynamics. While it’s not a major overhaul of the Hive experience, I believe this adjustment will bring some fresh excitement to the platform. As I understand it, users will be able to deliver a consistent upvote value to every post they upvote, but the rate at which upvote mana is consumed will depend on how frequently full upvotes are used. In simple terms, the more consecutive full upvotes you give, the faster your mana depletes, a fair way to balance heavy voting activity.

I think this will make things simpler overall, since we’ll be able to focus more on the value our upvotes deliver rather than on timing. And if we happen to drain our mana by voting too often, we can simply resume curating once it replenishes. In that sense, the system becomes more predictable and manageable, avoiding the confusion about why our vote value drops after multiple consecutive upvotes.

Next on my line of thought is the boost to Hive’s liquidity through Altera, Magi Network’s DeFi platform. I believe this is the missing piece of the puzzle that explains why it has been difficult for investors to get into Hive, the liquidity issue. For a long time, we’ve relied mainly on Binance and MEXC as the primary exchanges for buying and selling Hive. We haven’t really tapped into the cross-chain liquidity that major blockchains have been taking advantage of over the past several years.

This month, the Magi Network team will open Hive to a liquidity pair with BTC as the first pool on the Altera platform, followed by a Dash/Hive pool in December. I’m hopeful that we’ll eventually see pools with SOL, BNB, USDT, XRP, and others as well. These additions would open Hive to more ecosystems and could greatly help solve its liquidity challenges.

Of course, we should also recognize that there are inherent risks with DeFi platforms. Even heavily audited DeFi protocols on the Ethereum network have faced hacks in the past and more recently. These vulnerabilities are especially common in cross-chain applications, and Altera isn’t immune to such threats. I hope the Magi team is well-prepared and has implemented strong security measures to protect against potential attacks.

That said, I’m genuinely excited about the future of Hive as it steps into a multi-chain world.

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As we move into this next phase for Hive, I believe the community’s dedication and innovation will continue to drive meaningful progress. The upcoming developments may just be the catalysts that put Hive back in the spotlight. No matter how the market moves, I’m confident that Hive’s long-term vision will keep pushing the ecosystem forward.

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