Hive is a Web3 social media platform that empowers creators and curators to monetize their content and to earn rewards by engaging with others' content. One way to do that on Hive is through Hive Power (HP ) delegations.
First, if you're not familiar with HP, allow me to explain. Hive Power is your Hive staking account. Any liquid Hive you earn on the platform or purchase on the open market can be staked, aka "Power Up", to increase your power and influence on the blockchain. The more HP you have, the more HP you can earn.
Delegations are a type of loan that you can call back at any time. If you have extra HP that you are not using, you can delegate it to another account. The tools of the blockchain make this easy to do and recalling your delegations is just as easy as implementing them.
There are a couple of things to keep in mind, however:
- Delegating HP does not remove it from your account, per se. You still own it. But it does reduce your ability to transact on the blockchain as you can only perform activities up to the point of your vested HP minus your delegations. In other words, Resource Credits, nonmonetary units that define how much activity you can perform on the blockchain, are reduced with delegations. That's why you should build up your HP to a comfortable level before you delegate to other accounts.2. How much Hive Power you can delegate is determined by how much you have in your wallet. However, you can delegate HP from your first day on the blockchain if you have HP to delegate. There is no minimum limit to delegations.
Now, why would you want to delegate your heard-earned HP to other accounts on Hive?
Why You Should Consider Delegations
**Help new users **- You may know a new Hive user who produces great content and you want to support them beyond your upvotes. To give them more Resource Credits, or the ability to perform more actions on the blockchain, you can delegate HP to their account and give them a boost.
Charitable contributions - Some accounts may exist for a charitable or community-oriented purpose. If you support the charity or community organization and want to see them succeed, you can delegate HP to them to use for their ongoing transactions on the blockchain.
**Kickstart a second Hive account **- On Hive, there is no limit to the number of accounts you can have. If you have an idea for a business and you want to launch a new account to represent your Hive business, you can delegate HP from your primary account to your upstart account to give it an early boost.
Support a curation trail - A curation trail is an account on Hive whose sole purpose is to find great content and upvote it, or sometimes to downvote bad content. You can, of course, follow a curation trail and piggyback your votes on their curated votes. Some curation trails, however, reward delegators with daily payouts on delegations in order to encourage Hive users to boost those curated accounts so that their votes for content lead to greater rewards for great content creators.
Delegations on the Hive blockchain is a feature that enhances the culture of the blockchain and the content creation and curation efforts of committed Hivers.
6 Hive Accounts That Will Reward You For Your Delegations
Ecency - @Ecency is one of the most popular dapps on the Hive blockchain. Besides providing tools for Hive users to post content to the blockchain, Ecency also owns a curation trail. With Ecency, you earn Ecency Points for every 100 HP you delegate to the Ecency account. Those Ecency Points allow you to boost your posts on the blockchain for manual Ecency curation. It's not a guarantee curation, however. When you spend your Ecency Points, an Ecency curator will evaluate your content and upvote it or not based on their own personal criteria. If your content is not created, you get your Ecency Points back. If it is curated, you'll receive additional rewards for your boosted content.
Qurator - @qurator is another curation trail and one of the most popular on Hive. Delegators receive 80 percent of daily curation rewards.
Curie - @curie is one of the most popular curation trails since the days of Steemit, before the infamous Steemit-Hive hard fork. Curie only uses manual curation and seeks the best Hive content. Their tagline is "Discovering exceptional content." Trust me, that's not a lie. A delegation to Curie is a delegation well spent.
OCDB - @OCDB is another manual curation trail. In my opinion, they're not as good as Curie, but they are rock solid.
**Curangel **- @curangel is another curation trail that has been around since the days of Steemit. Again, they're not as good as Curie or Qurator, but I'd trust them.
Leo.Voter - Unlike the other curation trails listed here, @Leo.voter did not migrate to Hive from Steemit. In fact, it's a Hive native. Late last year, Leo Finance rebranded to InLeo, but the Leo.Voter precedes that rebranding. A delegation to Leo.Voter earns the delegator LEO tokens, a layer-2 token on the Hive blockchain. InLeo has one of the largest and most active communities on Hive.
If you're on the Hive blockchain and you're looking for ways to increase your rewards, a delegation to any of these six accounts will be a delegation well spent, and you can end your delegation at any time.
This post was first published by Author Allen Taylor on Paragraph. Image from Pexels.
Posted Using InLeo Alpha
