As of my last update in September 2021, the term "powering up 100% HP" in the context of the Hive blockchain likely refers to the action of converting Hive tokens to Hive Power (HP) by delegating them to the staking pool. Hive Power is a form of staked tokens that provides the holder with more influence and benefits within the Hive blockchain ecosystem.
Whether powering up 100% HP is considered good depends on your individual goals and objectives within the Hive blockchain community. Here are some considerations:
Increased Influence: Powering up to 100% HP would give you the highest level of influence within the Hive blockchain. With more HP, your votes on content and proposals carry more weight, and you can participate actively in governance decisions.
Curation Rewards: By staking Hive tokens as HP, you can earn curation rewards for voting on content that becomes popular. These rewards can incentivize you to power up your HP to maximize your earnings.
Long-term Commitment: Powering up your HP demonstrates a long-term commitment to the Hive platform since it locks your tokens in staking for a specified period. This commitment is viewed positively by the community as it helps to strengthen the network.
Reduced Liquidity: Converting all your Hive tokens to HP reduces your liquidity. HP requires a power-down process, which takes 13 weeks to convert back to liquid Hive tokens. This could be a disadvantage if you need quick access to your funds.
Risk Consideration: While Hive Power allows for curation rewards, the value of HP itself is subject to market fluctuations. So, while powering up may offer benefits, it also involves exposure to market risk.
Ultimately, whether powering up 100% HP is good for you depends on your intentions and long-term goals. Some users may prefer a balanced approach, keeping some Hive tokens liquid while staking a portion as Hive Power. Others may choose to power up 100% to maximize their influence and commitment to the Hive community.
Please note that blockchain ecosystems and their associated terminologies may evolve over time, so it's essential to check for any updates or changes specific to the Hive blockchain after my last update in September 2021.
