My weekly Growth and Progress on Hive
Hello Readers,
I hope all of you are doing well in life and also enjoying an awesome weekend with your loved ones. Well, another week has passed since I posted my last financial Progress post, so welcome back to another fresh edition of my financial progress update on the Hive blockchain! No matter you are a seasoned Hive user or just starting a new journey into this fascinating Web3 platform, it’s always better to keep a track on your growth here and stay focused in your goal. Because that’s what Hive has taught me, time and again that only consistent efforts, no matter how small or big, can lead to steady financial progress over time on here. So in this post, I will as usual break down my weekly performance across three key areas - Hive Power (HP), Hive Backed Dollars (HBD) and Leo Power (LP). Not only will I share my current numbers, but I will also discuss in detail on how much I have gained since last week. So, if you are interested, let’s take a dive without any further ado.
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What Makes Hive so Special
Hive is different, it is not any average cryptocurrency that only focuses on aggressive marketing or false promises. It is rather a blockchain ecosystem that is actually building something meaningful and providing value seamlessly combines social media, gaming and finance under one single roof, along with with the added benefits of decentralization and fee-less transactions. While there are countless coins in this wild crypto world that have little to no real value or actual utility, Hive stands out without a doubt as a rare gem. What’s even more exciting is that lately, Hive is getting the long awaited recognition in the global market as it is getting listed on multiple exchanges and in futures or leveraged trading lime on Binance, Bidget etc.
If we look at the current market, Hive is riding the bull season well and already touched a recent high of 0.65$ and currently being traded around 0.43$ per unit. But, Hive is not just about financial gains to many of us, it is more about empowerment, because it provides opportunities to create, engage and grow within this amazing vibrant community.
Hive Power (HP)
For those who are new and unfamiliar, Hive Power (HP) simply represents the staked form of Hive tokens that are locked in your on-chain wallet. Staking HP not only helps you earn curation rewards but also provides you influence in community decisions like DHF Proposals or voting for Witnesses. The more HP you have, the greater your voice and rewards on the platform.
My HP Progress
When I checked last week, my HP stood at 15,382.205, but I made the decision to power down some Hive tokens and covert it to HBD since the Hive’s price has pumped well lately. After converting some of these tokens into HBD, my current HP now sits at 14,667.734. Now, though that’s a temporary loss of 714.471 HP compared to last week, I have planned to boost my HP count when Hive price comes down.
Hive Backed Dollars (HBD)
Hive Backed Dollars (HBD) is the official stablecoin of the Hive blockchain and its value is pegged to the US dollar. Apart from serving an important purpose of holding vlaue being a stablecoin, HBD is also famous because of its incredible 15% annual interest rate for savings, which makes it an excellent tool for low risk growth. I have started treating my HBD savings like a digital savings account and keep all my savings here and of course enjoying more interest that what traditional banking offers.
My HBD Progress
Last week as I checked, my HBD balance was sitting at 3,702.766. But as I have powered-down Hive and converted into HBD and also been transferring all my author rewards, my HBD balance has grown significantly to a total of 4,171.344 HBD. That’s an amazing increase of 468.578 HBD in just one week! Not to mention that I already earned 18+ HBD for saving my HBD in Locked wallet. Anyway, this exponential growth puts me one step closer to my long-term goal of reaching 10,000 HBD.
Leo Power (LP)
Leo Power (LP) is the staked form of Leo token and it is the native token of the Inleo project. Inleo is one of the largest Web3 social media platform that is built on the decentralised Hive blockchain. Staking Leo tokens increases your influence in the platform and also enables you to earn curation rewards in form Leo, which works same as Hive Power but within the Leo ecosystem. You can also earn Leo tokens for free as author rewards for posting blog posts and engaging in their short-form threads section which runs just like X/Twitter.
My Leo Power (LP) Progress
At the beginning of the this week, I had a total of 12,165 LP and since then, through actively posting, curating and engaging with the shorts and since participating in the latest Leo Power-Up Day (LPUD), I earned an additional 65.48 LP, which is bringing my total Leo balance to 12,230.48. I will as usual keep saving all the Leo tokens and will stake them all again in the upcoming LPUD. Now, the organic increase may seem small, but every fraction of Leo counts, especially when working toward a larger milestone. My future aim is to reach 15,000 LP and earn the amazing “Lion” status
And badge, as it is considered a significant milestone in the Leo community. To achieve this, I am focusing 100% to save all my Leo earnings and stake them all during all the future LPUD events. With patience and consistency, leg’s see how much much time it takes till I get there.
Gradual growth with consistency
While my HP decreased this week due to powering down, the gains in HBD and LP reflect my broader strategy of diversifying and growing across Hive’s ecosystem. Last but not least, I have find it an effective way to grow simply by monitoring my financial progress, because not only the process keeps me motivated, but it also helps me make informed decisions and make my financial goals gradually into a reality.
So, especially for those who are newcomers to Hive, my first advice would be to think long-term. Hive is not just a financial opportunity, it’s an one-of-a-kind social Media platform where your contributions create real monetary value. So your growth might feel slow at first, but with consistent engagement and meaningful contributions, the rewards will also grow, so it’s worth the wait. Making quality Engagement and active participation is the main key to grow on Hive, and certainly it is not 1 day’s game so think long term and growing gradually.
I hope you liked reading my post on Hive and my weekly growth on this blockchain. Let me know whats your goal and also your thoughts in the comments section below and I will be seeing you all in my next post.
Posted Using INLEO