Hello readers,
I hope you are all enjoying a wonderful day filled with positivity and spending quality time with your family and friends. If you are reading this post, chances are you are also a Hive user like me. If so, then congratulations my friend! You may have already noticed the recent surge in Hive’s price. For quite some time, Hive was hovering around the $0.16 mark, but recently it experienced a remarkable uptrend which caused it to reach as high as $0.23 per unit. Although the price has since corrected slightly and now sits around $0.215, I am optimistic that we will see it rise again soon. So let us all keep an eye on the Hive price chart and see how far this upward trend takes us!
Now moving on, let us now get to the main topic of today’s discussion as today, I will be tracking my financial growth on the Hive blockchain. Every week, I review my earnings on the Hive blockchain and trace my progress toward the financial goals I have set. This not only keeps me on track but also motivates me to continue working and building my portfolio. My main focus is to Grow my Hive Power (HP), Hive Backed Dollar (HBD) and Leo Power, as in my point of view, these 3 tokens are the top assets on Hive and I am committed to increasing my stake in each of these tokens. So, if you are interested, let us jump right in without any further ado!
Hive Power (HP)
Hive Power (HP) is the foundation of my growth strategy on the Hive chain, as I believe it is the core token of this entire system. If you believe in the Hive ecosystem, then building Hive Power should be one of your top priorities. By staking your Hive tokens, you not only increase your influence on the platform but also boost your ability to earn more Hive power through curation rewards by voting on others’ content, not to mention you also become able to participate in decisions that shape the future of Hive by voting witnesses and proposals in this blockchain with your Hive power. One of the most groundbreaking aspects of Hive is that it allows users to actually earn cryptocurrency through blogging, voting and engagement on this platform, of course, irrespective of which front end you are using. Hive is a unique and one of a kind blockchain that gives you rewards for your contributions to the community.
For me, Hive Power is a long-term investment and I have been slowly building my Hive Power from my earnings. I have been consistently keeping my Hive Power earnings without performing any power-down and recently, I reached a significant milestone in my journey by reaching 14k+ Hive power in the last week and had a total of 14,140 Hive power in my last financial post. Right now as we speak, I have accumulated a total of 14,385.446 HP. This brings me one step closer to my goal of staking a total of 15,000 HP. I know It is a slow process, but every bit of progress is incredibly rewarding and enjoyable.
Hive Backed Dollar (HBD)
Next up is HBD, or Hive Backed Dollar. For those of you who are unfamiliar, HBD is Hive’s own stablecoin, designed to maintain a stable value pegged to the U.S. dollar. We can earn HBD via engaging in this chain with blog posts, threads or comments and whatever author reward we generate through our engagement, half of the amount gets paid via Hive power and the other half as HBD. What makes HBD especially attractive is the 15% annual interest rate which you can earn by simply locking HBD into savings, with interest paid out monthly. I have been steadily growing my HBD savings by setting aside a portion of my author rewards.
Last week as I checked, my HBD balance was at 1,169.958, and I am happy to report that it has now grown to 1,213.512 HBD. I have also earned 6.467 HBD in the last 13 days as a reward for locking my HBD, which will be paid out and added to my locked balance when it completes a 30-day cycle. While this increase may seem small, it is consistent and on top of that, the interest also adds up over time. My long-term goal is to accumulate 3,000 HBD, which I know is highly ambitious, but I think it is achievable if I continue on my current path.
Leo Power (LP)
Finally, let’s talk about Leo Power (LP), which is the third pillar of my financial strategy. Leo is the main and only token to the Inleo platform, a thriving web3 social media platform built on the Hive blockchain. Just like Hive Power, Leo tokens can be also staked to earn rewards through curation. As an active member of the Leo community, I have seen this platform grow from a small finance niche project to a full-fledged social media ecosystem with thousands of active users.
In the previous recent Leo Power Up Day (LPUD), I powered up over 206+ Leo tokens, bringing my total staked Leo to 11,506. Since then, I have earned an additional 102.12 Leo including both my author and curation rewards, which I plan to stake during the next LPUD. My goal is to reach 15,000 staked Leo tokens asap, and while it seems that it is going to take some time, I am confident I will get there one day with patience and consistency.
Building Wealth on Hive
Building and Tracking my financial growth on Hive has been an incredibly rewarding journey, both in terms of the knowledge that I have gained and the assets I have accumulated. Hive is more than just a blockchain, it is a platform that is empowering its users on a global scale to grow their wealth by simply contributing to the community. Whether you are staking Hive, saving HBD or accumulating Leo tokens or investing in other projects, there are plenty of opportunities to build long-term financial security.
I hope you liked reading my post and even if it gave you a little positivity and motivation, I will be very happy to acknowledge. Do you believe in building wealth on the Hive blockchain?
Please feel free to let me hear your thoughts in the comments below and I will be seeing you all in my next post!
Posted Using InLeo Alpha