This is a follow up to my earlier post on Hive. I'd like to discuss further on the things you can do in the Hive blockchain. Earlier I wrote that users can earn Hive and HBD tokens from posting blogs or micro-blogs in Snaps or InLeo. Aside from trading and holding, what possible utilities can users do with Hive and HBD tokens?
Staking Hive will convert your liquid Hive to HP or Hive Power. With HP, you can have the following benefits discussed below. On the other hand, staked Hive will take 13 weekly withdrawals to fully liquify so keep this in mind.
The amount of your HP determines the amount of rewards your upvote gives to posts. The higher your HP, the higher the amount. Curation rewards is split fifty-fifty between the author and the curator. Also, your curation rewards will be limited by your vote power. Your vote power decreases each time you vote and regenerates every hour. It may be optimal to stop curating once your vote power reaches 75%.
Resource Credits determines the number of actions you can do in Hive. It is depleted through your actions on the blockchain and replenishes within 24-48 hours depending on the amount of HP.
Your HP also allows you to support witnesses or block producers and validators of the Hive blockchain. You can also vote on Decentralized Hive Fund (DHF), which allocates funds to community-driven projects and developments.
You can delegate HP to other projects like Ecency, brofi or leo.voter. In return for delegations, they pay in hive-engine tokens or even liquid Hive . The HP is still yours and you can undelegate anytime. However, it takes five days to undelegate HP.
HBD or Hive Based Dollars is Hive's stablecoin pegged at one dollar equivalent in Hive. You can convert your HBD to USD equivalent in Hive. You can also stake HBD with an APR of 15%. Staking HBD takes three days to withdraw.
You may play on the volatility of Hive by swapping to HBD and vice versa.
You have a lot of options to earn more in the Hive Blockchain. First, making content, engaging to earn Hive and HBD. You can then invest Hive in HP or stake HBD. Further, you can invest in other tokens in hive-engine either for speculation, dividends or staking rewards.
