Hello Readers,
I hope all of you are enjoying the day with your family and friends and are also thrilled to witness the ongoing pump season in crypto. If you are reading this post, then you are already a Hive user. So, either you are a new soul here exploring Hive, or you are a seasoned pro, chances are you have fallen in love with the unique social media blockchain and the unmatched experience that this platform offers. Hive is not just another crypto project, rather it is a dynamic ecosystem where blogging, social networking, gaming and decentralized finance (DeFi) converge seamlessly under one roof. What makes This blockchain even more special is the fact that you can earn real cryptocurrency for creating and sharing valuable content, gaming, or investing in exciting projects - all on a secure and decentralized blockchain, or rather call it your digital world.
For me, Hive is more than a regular blockchain I like to visit or spend time with. It is a special place where I grow, learn, connect and earn. Unlike many other crypto projects that buy all the billboards but actually lack real value, Hive stands as a prime example of sustainability, growth, empowerment and purpose. As an old user myself, I write blogs on Hive and also interact with different projects and platforms built on Hive like Splinterlands, Inleo, Peakd, Hive-Engine, Rising Star etc. and also building my wealth on this blockchain, slowly but gradually. Sharing my weekly progress has become a ritual for me, as this has been a way for me to stay motivated and focused on track while chasing my financial goals. So today, let us take a dive into my journey and growth since last week and I hope you will pick up some tips along the way!
Hive Power (HP)
Hive Power (HP) is like the heart of Hive's ecosystem and it is also the cornerstone of my portfolio. I am an old blogger and user here and I first stumbled upon Hive in 2018 (back when it was Steemit), Back then, I had no clue how cryptocurrency worked and it was my first interaction with this universe. When I started earning crypto at first, It felt like magic internet money, and I didn't treat it well and burned my hands a no of times investing in scams or weak loss-making projects, losing my hard earned wealth to chase quick money. However, I learned from my mistakes over time and have realized that HP is not just a token, it is a tool for true long-term sustainable growth and influence.
Perks of Building Hive Power
First is obviously Curation Rewards, When you stake Hive as Hive Power aka HP, you earn curation rewards by voting on other user's content like blog posts, comments, threads etc. These rewards are distributed after a 7-day period, and you get 50% of the vote’s USD value in the form of Hive power in your wallet. As you continue with consistent engagement on this chain, your HP also gradually increases. The second feature is Influence and Governance, Hive Power also gives you a voice in the Hive community. The more HP you have, the more weight your votes carry while partaking in crucial decisions, like DHF proposal funding and Hive witness voting, that directly affect the future of this blockchain.
My HP Progress
Last week when I checked my Hive Power balance, my HP stood at 15,963, and today after a week, it is now at 16,183.8 Hive Power, so I have gained a satisfying growth of over 220.8 HP in just seven days. My advice to newcomers who are here for the long term is to focus on building HP first. It might feel slow initially, but your dedication, steady engagement and quality content will surely pay off in the long run.
Hive Backed Dollars (HBD)
Moving on, let’s now look at the second asset that I am building on Hive and it is of course HBD, Hive’s own stablecoin which is pegged to the US dollar, making it a reliable asset for saving. What’s even better with HBD is that it also earns a flat 15% annual interest paid in HBD when stored in Hive’s savings wallet and comes with only a three-day unlock period. I use HBD savings as my life’s savings wallet - where I pour my liquid author and other rewards in, and withdraw when I am in need. HBD combines flexibility with my financial growth and lets me cover my emergency or monthly needs without touching my other assets.
My HBD Progress
Last week, my HBD balance was sitting at a total of 804.22 HBD. After rebalancing my portfolio today, I saw that it is now stands at 859.38, thus marking a solid increase of 55.16 HBD in just a week. Over the past month, I have earned total 12.151 HBD in interest alone for locking my HBD. My long-term goal is to grow my HBD savings to at least 3,000 HBD, building a strong digital wallet to act as my real-life savings account.
Leo Power (LP)
I hope you are already well aware of the Inleo platform on Hive, Leo Power (LP) is the native token of the Inleo platform, which is a vibrant Web3 community built on the Hive chain where people can communicate via short Threads, short videos and also post long-form blog posts. Similar to HP, staking LP also allows you to earn rewards for curating other user’s content.
My LP Progress
As for my progress, I have been actively participating in Inleo community and also partake in every LPUD event. In the last one, I powered up 150 $LEO to celebrate the last Leo Power-Up Day (LPUD), bringing my total LP balance to 11,861. Since then I have managed to save another 150 Leo, which I will be staking tomorrow celebrating the December LPUD event. My goal with Leo is to reach a total of 15,000 LP and achieve the OG "LION" status.
Last but not least, I can say that tracking my weekly progress has been more than a habit for me these days, it is a source of motivation. Watching my numbers grow slowly but gradually, whether in Hive Power, HBD, LP or any other assets. It reminds me of the power of consistency and community and hope I reach financial stability one day in my life through my practice.
I hope you liked reading my weekly progress tracking on Hive. Now tell are you also actively creating content and building your wealth and reputation on Hive? Let me know your plan or story in the comment section below and I will be seeing you all in my next post.
Posted Using InLeo Alpha
