Every 1st day of the month, you might have noticed many #hpud posts on floating hive. It is an initiative to make user aware of powering up their #hive. Many user follow it while many ignore them purposely. For them, such initiatives is just a marketing gimmick but in reality it means a lot. #hpud is all about adding more power on hive by staking it. In other word it means adding power to your account and also a good indirect source of income.
To understand it more clearly, it is important to know the different monetory terms used on #hive. If you ever visited the hive wallet section, you might have seen the three account section they are :
Hive : It denotes the liquid hive token that are kept idle at your account. This balance does not get you any kind of return. You can transfer it, spend it, or Power Up into HP. It is solely used, either to make a transfer to someone or to withdraw it through your exchange.
Hive Power : This section shows the amount of hive token staked in the wallet. Staking allows you to show your worth and also helps you in deriving some indirect return. Hive Power gives you stronger voting influence on the platform. It also gives you a virtual stake in the future growth of HIVE and the economy. This is being the most important section of entire eco system. Infact it helps you in many ways. More powers gets you more earning and value on the platform. It get you as one of the highest shake #hodlers in the ecosystem.
Hive Based Dollar : This typically denotes the stable currency of the hive ecosystem. The value of this is alwsys pegged to $1. You can use it either to trade hive in exchange of #hbd in internal market or to transfer to another account as gift or to do some transaction. Or uou can put them.in the saving to get a return of 20% APR.
Content provides the value to the HIVE social media platform. The more content the better it is for running the ecosystem. While making a post, the author have an option either to get the reward in full #hivepower or divide the reward between 50% Hbd and 50% hive power. This is being the most favourite option for many users as it allow user to earn both HP and HBD. The user could accumulate #hbd to earn 20% return or convert it to #hive as per market situation.
why power up ?
As mentioned before, powering up the #hive balances allows user to increase their stake. The more stake allow user to earn reward through curating or delegation. See if I can elaborate these as well.
More #hivepower means more voting power. Hive ecosystem require user to curste other user content as well which generate some rewards to the curator. Curation allows the user to take a slicd of the user reward. Thereby generating an indirect source of rewards apart from creating content. It requires activeness on the platform and curating good content.
Delegation is the process of handling your power to someone else account. In case you do not have time or efficiency to self curate then you may delegate your HP to other who give you some portionnof their earning through using your HP. Many a times delegation gets you lessor rewards than own curation.
Anyhow, the user is in a win-win situation in both ways. This allow safety to their investment. Even in case of delegation the user can revoke the #hivepower at any point of time. So the real powers remains with the user. Just to elaborate a little, Last months I made a curation earning at 16.27 APR on my little hive power balance.
This much curation allows me to earn, $37.94 without doing much effort.
Likewise you can make your hive power talk too by putting it in correct use case I.e curation or delegation.
Every drop matters, #hpud never asks you to power up in bulk. Adding a little bit of power to your account also matters. Gradually as the account grows, your stake also increases thereby giving you a handsome return.
Peace!!
Namaste @steemflow
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Happy HPUD my friend!
!DHEDGE
!PIMP
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Hey @steemflow, thank you for mentioning our HPUD initiative and emphasizing the importance of powering up.
BTW, your support for our previous proposal has been much appreciated but it expired!
May we ask you to renew your support for our new proposal (https://peakd.com/me/proposals/248)?
Your help will be appreciated. Thank you!
Hello steemflow!
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