Weekly Tracking of My Financial Progress on Hive

11 days ago (Edited)

Hello Readers,

I hope all of you are spending a fabulous day is filled with positivity with your friends and family. As you are reading my post, you are probably already familiar with the Hive blockchain. It is one a kind web3 projects thriving out there in the world of crypto and actually building something. Now looking at its price chart, I think like me, you may have noticed some recent changes in Hive’s token price. Hive’s price recently climbed to around $0.23, it's recent all time High before settling at $0.178 again where it is trading right now, due to broader crypto market trends. But its okay, being a old soul, I know these fluctuations are natural and hive will get above 0.3$ at least one day soon. So today in this post, let us focus on the bigger picture as it is time to track my weekly Financial growth on Hive! Whether you are a newcomer or a regular on this amazing blogging sum social media platform, I will try to talk you through key steps to manage, track, and increase your Hive portfolio over time by sharing my goals and how I am achieving the. Slowly but steadily.

Growing Hive Power (HP)

If there is one main thing that has been pivotal in my financial journey on Hive, it’s turning my focus on building Hive Power (HP). For those who may not know, HP is a locked version of the Hive token where you stake your Hive tokens to get Hive Power or HP. When you increase your HP, you are also boosting your influence on the platform and enhancing your ability to earn Curation rewards as more HP. Here is a breakdown of why this matters and how I’m going about it.

Earn More Through Voting

Hive rewards active participation when you vote someone else’s content on this platform. With more HP, your vote holds more weight, allowing you to earn 50% 9f vote value as curation rewards when supporting other’s posts, comments, and threads. This is not just about passive earnings on this platform or writing blogs, it’s about building wealth through meaningful engagement and boost your journey in crypto world.

Engagement in Community Decisions

HP also grants us with more influence in important decisions makings regarding the blockchain’s future, like selecting trusted network operators (called “witnesses”) or voting on DHF proposals. To be able to have a voice in the community makes my experience on Hive feel more rewarding, personal and impactful, where your decision will shape the future of Hive.

My Current HP Progress

Around a week ago when I last checked my Hive Power in my last financial post, my HP balance was 15,465. However today, I am thrilled to report that it is now at 15,714 HP. This is a great progress of nearly 250 HP earned in one week and it brings me closer to my next target of building total 20,000 HP. By posting regularly, voting, and holding onto my Hive Power without liquidating it via power down, I am steadily growing my Hive Power.

Hive Backed Dollar (HBD)

While Hive Power provides value growth through engagement, the Hive Backed Dollar (HBD) offers stability in the economy. HBD is the official stablecoin of this blockchain and it is pegged to the US dollar, which makes it valuable for saving wealth. It also offers attractive returns, as anyone looking to save without the stress of regular Crypto price fluctuations. Here is how I use HBD to balance my portfolio on Hive.

Earning Interest with HBD Savings

Hive allows HBD investors to earn a fixed 15% annual interest on HBD savings, paid out monthly. By moving your Liquid HBD to the “Savings Wallet,” you create a low risk passive income source from the HBD saving’s rewards. 15% Yearly interest is definitely is a good deal for a stable coin I think, as here you don't have to buy or stake any other token, just the HBD stablecoin. It is similar to a high-yield savings account, with only a 3 days unlocking period, so there is flexibility of easy access to funds when I need them as well.

Tracking HBD Savings Goals

My approach to HBD is simple - I spend my he expanses or any mew investment from my HBD or else, I save consistently and watch it grow. My previous balance was over 900 HBD, but due to family expenses, it has dropped to 740 HBD this week. Despite the dip, today I saw that I have earned total 6.41 HBD in interest over the past 18 days. My target with HBD is to eventually reach 3,000 HBD in savings one day.

Growing My Leo Power (LP)

In addition to Hive Power and HBD Savings, there is another community on this blockchain platform called Inleo, where users can earn Leo tokens for engaging with both long-term Blogs or short-form threads content and even video shorts. If you are interested in Photography, finance, story, investing, crypto, NFT or any other niche, Inleo offers a unique way to grow wealth while learning from others in the community. Here is how I am building my influence on LeoFinance.

Increasing Influence Through Leo Power (LP)

Similar to HP, Leo tokens can also be staked as Leo Power (LP) to increase your curation rewards and voting power on content published on the Inleo platform. By engaging with high-quality contents posted on this network and the staying busy on threads chat, I share my own insights, earning Leo tokens while supporting others.

Tracking My LP Growth

Recently, during the last Leo Power Up Day (LPUD) event, I powered up 204+ Leo tokens, which raised my LP balance to total 11,711. Over the past 2 weeks, I have gained an additional 94.47 Leo tokens from author and curation rewards, which I plan keep saving and to power up on the next LPUD. My goal with $LEO is to reach total 15,000 LP and earn the “OG LION” status, a coveted milestone within Inleo.