It has often happened that other users ask me how I build my Effective HP through delegations from others. I wanted to create a post about the methods I use so I can easily refer people to it and avoid repeating myself whenever I get the same query. I think it’s a much more effective way to share something useful for those who want to almost instantly boost their account’s HP through HP delegation.
Before diving into the details, let me give a quick explanation of what Effective HP is.
What is Effective HP?
Effective HP refers to the aggregated Hive Power (HP) that takes into account the following:
- HP that you own (staked Hive)
- HP delegated to you
- HP you delegate to other accounts (if any)
- HP that you're powering down
All of these factors affect the calculation of your Effective HP.
If you're not keen on computing your Effective Hivepower (HP) manually, you may also check your account's effective HP through the Hivestats website. Here's the link to the website:
And here's a screenshot of the stats where you may view your own Effective HP.
Now that we've clarified this, let's move on to discussing how I receive HP delegations from other users. I use two main methods:
- Peer-to-peer HP delegation (direct deals with other users)
- Hive-Engine's HP Leasing service (open-market style HP delegation)
Peer-to-Peer Method
The peer-to-peer method is simpler because there are no intermediaries involved in your agreement with the other user. You simply approach the user, ask if they are willing to delegate their HP to you, and agree on the terms, such as profit or rewards. This part can be tricky as it requires negotiation skills—otherwise, you may have to comply with the delegator’s preferences.
In most of my peer-to-peer HP delegation agreements, I offer around 10% APR, which is quite decent compared to the curation APR of around 8%. I believe this is a fair profit that many delegators appreciate and agree to.
For payment, I use the blockchain’s Recurring Transfer feature. You can access this feature via the Keychain app or through PeakD. While I’m unsure if other frontends also support it, these two tools have been sufficient for my needs to execute Recurring Transfers efficiently.
If you wish to learn how to use the Recurrent Transfer method, feel free to check out this tutorial:
@jarvie/changing-accounts-an-interesting-use-case-for-recurring-transfers
Hive-Engine Leasing Service
Hive-Engine offers a variety of tools for Hive users, one of which is the Leasing service. This tool supports multiple assets, including HP (Hive Power).
Using Hive-Engine, you can lease HP on the open market by creating a lease request. Simply specify the amount of HP you want to lease, set the profit rate, and choose the lease duration.
This method is convenient because you don’t have to manually negotiate with other users to lease their HP. It is, in my opinion, the most efficient method in terms of time and effort, as it takes just a few minutes to set up your request. After that, you can wait for someone to respond to your offer.
However, there are a few considerations when using this method:
You will need to convert Hive to Swap.Hive, as Hive-Engine uses Swap.Hive for transactions. Keep in mind that there is a small fee for converting Hive to Swap.Hive.
Let me walk you through the step-by-step process of placing a request to lease Hive Power (HP).
Step 1: Convert Hive to Swap.Hive
There are several ways to convert Hive to Swap.Hive, including Keychain & BeeSwap. For this post, I’ll show you how to use the tool provided by BeeSwap.
BeeSwap link: https://beeswap.dcity.io/convert
Once you log in to BeeSwap, click on the "Convert" tool. Select the tokens you want to convert—in this case, Hive and Swap.Hive.
Next, specify the amount of Hive you want to swap.
Step 2: Request a Lease
After receiving your Swap.Hive funds, it’s time to place your lease request.
Hive-Engine Leasing service link: https://hive-engine.com/lease
An important note to remember is to filter the assets displayed on the list and select HP. This will help avoid confusion regarding the current APR set by other lessees for their requests.
Go to the Lease panel and click on the Request a Lease button.
A panel will open, allowing you to configure the details of your request:
- Amount of HP you want to lease
- Amount you are willing to pay
- Duration of the lease
- Click "Next" to proceed with the payment for your request will be accepted
And that’s it! You’re all set to lease Hive Power.
Both of these methods—peer-to-peer delegation and Hive-Engine’s leasing service—have their own advantages and drawbacks. Depending on your preferences and priorities, you can choose the one that works best for you.
In conclusion, building Effective HP through delegations is a strategic way to maximize your potential on the Hive blockchain. Whether you choose the simplicity of peer-to-peer agreements or the convenience of Hive-Engine's leasing service, both methods offer unique advantages that cater to different needs. By understanding these options and using them effectively, you can grow your Hive Power and unlock greater opportunities within the ecosystem.
Additional note: All AI images are generated using PeakD's Schnell model.
Since you’ve made it this far reading my post, let me share a bonus tip on how to increase your Hive Power by 200 HP for free!
Well, it’s not exactly free—you can earn it through activities you’re probably already doing here on the Hive platform. All you need to do is use the @ecency frontend. Here’s the link:
https://ecency.com/perks
Click on the "Buy Perks" button.
Although it says 'buy,' the payment is made using Ecency points, which you can earn simply by using the Ecency frontend. For me, this feels virtually free since you’re just doing what you already do on the platform.
And then click on the "Boost +" button.
From here, you can select the option that matches the amount of Ecency points you have.
There are two options:
And that’s it! I hope you've earned enough Ecency points to purchase one of these HP delegation packages from Ecency. Cheers!
