When I set my Hive goals for 2024 and added the 52-week HBD challenge as one of my main goals, one of my doubts was: isn't it too early to start building up my HBD? And yes, it is, I gave myself the answer back then.
What convinced me to go ahead with the challenge was its gradual nature, starting very easily and slowly adding up the amount I needed to save every week. That effectively delayed more serious action till at least until the halving, I made my plans.
In the meantime, the price of HIVE is even lower than at the beginning of the year, and following the same plan I have set, I do buy more HIVE than I keep HBD at these prices. Eventually, it will go up. Unfortunately, the majority of the price action might be focused in the timespan of a few weeks (at most) of highly intense volatility. We'll see how many will be ready for that time, which may not come until 2025.
At the perfect timing when I was wondering if I switched to HBD too soon, came the EDSD project from @eddie-earner, something I decided was a good spot to temporarily place some of my HBD into.
Instead of receiving 20% APR on HBD monthly, I get 10% on EDSD weekly (1 EDSD is redeemable as 1 HBD), paid as EDS, with EDS redeemable as 1 HIVE and paying HIVE dividends weekly as well (26.75% APY last week, dropping for the last year).
Why would I give up 10% APR and the base layer token for the sidechain alternative? Because the link to the price of HIVE will likely be more profitable during this bull market year. Some people build serious amounts in projects under the SPInvest umbrella. Personally, I consider my investment in EDSD temporary. I may use them to help with my 52-week HBD challenge toward the end of the year. What it also helps with is growing a bit my EDS holdings without paying a premium for them in the market.
I started to enjoy the weekly (and in some cases daily) HIVE passive rewards received from various projects a while ago. If the APR is higher than curation+interest, even better, although we have to take into consideration the higher risks associated with projects with tokens on sidechains compared to the base layer.