Tracking My Latest Financial Progress on the Hive

Dear Fellow Hive Enthusiasts!

As you are reading this post, then you are probably already a Hive user, who is interacting on this blockchain and working hard to grow on this decentralized platform while entertaining or educating himself with the niches he or she likes. Now many of us have been here for a long time and Hive has become a part of our daily life, playing games, writing posts and reading others and curating posts that you like. Now just like in real life, you can also grow for your valuable contribution on this social media blockchain, so tracking progress is essential on Hive for gradual success. Now, no matter if you are just a new user to Hive or an old folk like me, keeping an eye on the financial journey and keep rectifying can help you make smarter decisions and stay motivated on Hive and grow organically long-term.

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Recently On Hive

Hive is not just a blogging platform because, on Hive, we also enjoy many crypto projects and utilities, like engaging play2earn games like Splinterlands, Rising Star, or a new game I have been playing and publishing posts about lately called Moonkarts by Arcade Colony and also other popular applications like Short from Threads, multi-chain decentralized exchange Leodex, Video Platforms like 3Speak and many more. All these on-chain projects have their own tokens and as expected, all the tokens fluctuate in value being crypto, making it important to track your progress regularly. By doing so, you can gain -

• Stay active, engage actively and be consistent with your activities.

• Try to explore different areas of hive testing all the dApps and try to engage and grow in the ones you like.

• Make well-thought and calculated decisions while spending money to protect and grow your wealth sustainability.

I think that not being perfect, but by continuously trying to implement these habits, I have not only improved my Hive experience but also can build a decent wealth on this chain organically, and it has been a main source of life. Thus, I have made myself more disciplined in managing my personal finances so that I build a sustainable wealth fast without losing my money in bad Projects or scams. Hive is such a decentralized ecosystem that brings together social media, an enriched Blogging library, gaming and decentralized finance (DeFi) under one roof. Unlike other crypto platforms, Hive has no transaction fees and is supported by a strong active community. Since December last year, Hive has followed Bitcoin’s bullish trend and already and touched a recent high of $0.65 before stabilising itself around $0.30 currently. However, despite all these market fluctuations, our Hive continues to grow upwards, thanks to the large loyal user base.

My Hive Power (HP) Growth

Currently I am Focusing on building Hive Power (HP), which is the staked version of Hive token that increases your Vote USD value. By staking more Hive, users can earn curation rewards simply by voting on other’s contents. More HP means stronger voting power and a higher value for each upvote and 50% of your vote value returns to you as a curation reward. HP also allows users to vote for witnesses who run hive and participate in decisions with DHF shaping Hive’s future.

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My HP Progress

Around 11 days ago, my Hive Power stood at 15,163.405 HP when I published my last hive track post. Now, I remained focused on posting daily and increasing my stake rather than powering down. Gladly through the daily engagement, my Hive balance has grown to 15,578.183 HP in the past 11 days. increasing 414.778 HP

Hive Backed Dollars (HBD)

HBD is Hive’s own on-chain layer-1 stablecoin, which is pegged to the U.S. dollar and it also offers a flat 15% annual interest rate on savings paid monthly. This makes HBD an excellent option for protecting value and earning risk-free passive income. I am also building a decent HBD Savings balance for a while to generate a stable passive income and it is working well so far.

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My HBD Savings Progress

When I last checked around 11 days ago, my HBD balance was sitting at 8,784.502 HBD. As I shared recently, I prepared early and took advantage of a recent Hive price surge by converting my liquid Hive into HBD and adding it to my HBD savings. Today, my balance stands at 8,911.107 HBD, which is a solid increase of 126.605 HBD over the last 11 days. Additionally, since I got paid for my Savings 12 days ago, I have earned 42.888 HBD so far in interest, and with my current balance, I expect to generate about 112 HBD per month right now at a 15% APR, which is a big achievement for me. My long-term goal is to reach 10,000 and then 20,000 HBD, and I am getting closer to my goal every day!

Leo Power (LP)

Leo Power (LP) is earned by staking $LEO tokens, which is the native token of the Inleo platform on Hive, a Web3 social media platform built on the Hive chain. Staking LP boosts your Leo voting power and also the influence in Inleo, and You can earn Leo for rewards for both writing posts and voting for other users' content published via the Inleo platform. With extra to your Hive reward, Inleo rewards you more for engaging with content and comments on their platform.

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My LP Progress

The last Leo Power-Up Day (LPUD) happened recently on 15th February, where I have staked a decent amount and reached a total of 12,443 LP. Over the past 10 days since then, I have earned an additional 96.04 LP from curation and author rewards. My goal with Leo remains the same, to reach 15,000 LP to unlock the Lion status badge.

Final Thoughts

Last but not least, I think tracking my own financial progress has been a game-changer for my journey on Hive so far. This platform is certainly not a get-rich-quick scheme, but if you stay consistent, and engaged and have a growth mindset, you will surely see steady results here. Hive is actually a marathon, and not a sprint, so those who stay the course will reap the benefits in the long run. So, I would advise you all to stay focused, track your progress and keep growing together on Hive!

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I hope you liked reading the Tracking post on my financial growth on Hive and how I am planning to move forward. Let me know your thoughts regarding this topic in the comment section below and I will be seeing you all in my next post.

Posted Using INLEO