My Financial Goals On Hive Chain and Progress

Hello readers,

I hope you are all doing well. If you are happen to be an active user on this amazing Hive blockchain, you have probably spent a lot of time reading and writing blogs, exploring the wide range of Game or other DApps or interacting with the vibrant community through many available tribes on this chain. Hive is quite a unique and dynamic platform in this bast crypto space and has to offer something for everyone - from NFT play-to-earn games to investing in a variety of layer-2 tokens or projects, each with its own value proposition. Unlike many other blockchains doing meaningless or no valuable work at all, Hive has a thriving ecosystem with a global user base contributing valuable content across many niches or interests, from finance and crypto to photography, arts, sports and music etc. It is a place where you can truly find a new home for yourself while learning new things and enriching your knowledge.

If anyone is interested, Getting started on Hive is also pretty straightforward. Simply create a free account using any front-end, like Inleo, using your existing Web2 IDs such as X (formerly Twitter) or Gmail, and dive right into the magical world Of Hive. You can start interacting, publishing blogs and posting short threads, all while earning money for your valuable contributions, for free of course. Hive rewards users with crypto tokens (in the form of Hive, HBD and other layer2 tokens) for their activity on the platform, allowing anyone to build wealth over time by simply providing value to the community so it's a win-win situation for both the project and its users.

My goals on Hive

Like many of you, I have been a long-time user of Hive. Over the years, I have explored various projects on this fabulous platform, from publishing posts to playing games like Splinterlands and Rising Star etc. and often spending time on Inleo threads for a bit of entertainment. While I used to be heavily involved in Splinterlands in the past, I have recently shifted part of my focus to growing my primary assets on the Hive chain - Hive Power (HP), HBD Savings, and Leo Power (LP). So in today’s post, I will be tracking my progress over the last 7 days and how much Wealth I have built here. So without any further ado, let us jump right in.

After several years of learning phase and engaging in trial and error in this complex crypto realm, I have finally learned the importance of building stable wealth rather than risking it on uncertain projects and burning hands. With this in mind, I have redirected myself and started building my financial wealth in three areas - Hive, HBD and Leo tokens and also started tracking my progress on a weekly basis. So let’s see how I performed in these last 7 days and hope it brings more motivation to you.

Hive Power (HP)

First of all, Let us start with Hive Power as to me, it is the main thing on Hive chain. For those who are unfamiliar, Hive is the native layer-1 token of the Hive blockchain and when staked as Hive Power, it can be used to vote on posts, threads or comments, earning curation rewards in return. When voting content using one’s Hive power, fifty percent of the vote value is returned to the user in the form of Hive Power, enabling you to build more influence and earn even more Hive over time and build a snowball effect on the long term. In my last financial update, I had accumulated a total of 13,202.257 Hive Power. As I checked my Hive power today, I found out that over the past week, I have increased this to 13,398.928 Hive Power, which means I have gained an additional 196.671 HP. My goal is to reach 15,000 Hive Power as soon as possible and once I achieve that, I plan to delegate a portion of my Hive Power to different projects to earn additional tokens while helping those projects.

HBD Savings

The next one that I would like to enlist here is HBD Savings, an important key component of my strategy for stable growth and balancing my wealth. When being locked in a savings wallet, HBD (Hive Backed Dollars) offers a stable 15% annual percentage rate or APR (previously it was 20%), paid out monthly. It is an excellent return for a stablecoin with minimal risk and though the APR was recently reduced from 20% to 15%, I still choose to continue as it is, because it still provides a reliable source of income in a volatile market without taking much risk, making it a valuable addition to my portfolio. In my last update, my HBD Savings balance was sitting at 1,268.157 HBD. As of today, I have managed to increase that to 1,294.048 HBD, thus calculating a growth of 25.891 HBD. As you can see, I have earned 8.387 HBD in the last 16 days from the savings account. While I did convert some of my HBD post earnings to liquid Hive because of Hive’s low price, I am committed to gradually increasing my HBD balance to ensure a stable income stream.

Leo Power (LP)

Last but not least is my Leo Power, which I have been steadily growing alongside my Hive Power and HBD Savings. Leo is the primary layer-2 token of the Inleo project, and it is a token I am particularly passionate about due to the fantastic projects and the active die-hard community behind it. As of my last update, I had accumulated a total of 11,300 Leo Power. Since the last LPUD event, I have earned a total of 95 Leo through rewards and plan to stake another 200 Leo during the upcoming LPUD (Leo Power Up Day) event to reach my goal of 11,500 Leo Power. But in order to increase my Leo earnings, I must increase my activity in the Inleo platform, especially in the threads section, where we can earn both Leo and Hive tokens alongside publishing long-form blog posts.

I hope you liked reading about my progress since last week and also wish it sparks a little more inspiration in you too. Feel free to share your thoughts or experiences about this blockchain and your strategy to grow here in the comments below and I will be seeing you all in my next post.

Posted Using InLeo Alpha