It has been quite a while since I have staked Hive on Hive Power Up Day, there were reasons that I had been inactive on Hive for 3 months due to some personal issues, I was quite occupied with solving life's problems.
But being on Hive an active member, it feels embarrassing not to participate in the biggest monthly event of this ecosystem called Hive. Although, it is a voluntary event and depends on user's wish whether to join or skip.
There are lots of benefits of regularly staking HIV, this routine adds value to your account over time and you feel a big difference between regular staker and seasonal staker.
Here are some cool perks for being a regular participant in HPUD:
Empowering Hive Ecosystem
HP reserves the liquid Hive to remain frozen and improves overall health of ecosystem and decentralization of the blockchain. More HP means more HIVE/HBD rewards towards users through "Delegated Proof of Staking".
Influence and Reputation
User with huge sum of HP is seen as respected members of the ecosystem contributing their votes for different purposes such as participating in governance voting, curation, and delegating HP to other needy users.
Incentives and Personal Growth
Users having good amount of HP earn around 3% APR just for holding 'Hive Power', while curation adds extra rewards in the form of HP incentive. HP gains can be powered down in liquid HIVE form. But, keeping HP intact adds additional rewards.
Resource Credits
HP adds Resource Credits (RC) which help users to write content on HIVE frontends. More RC means you can add more short and long content and increase chances of getting more upvotes from other users. New users often need RC and users with additional RC can delegate RC or HP to support them engage better way in Hive ecosystem.
Overcoming Inflation Rate:
Converting HIVE into HP is a way to hedge HP against Hive's inflation rate, since the APR generated on powered up Hive reduces the effects of inflationary behavior of the token. This way users provide risk protection against inflation in the ecosystem and also increasing HIVE tokens values over time.
HP is a locked HIVE token which provides long and short-term benefits to its holders and Hive ecosystem alike. Holders can earn weekly curation and daily APR incentives. It also helps users to look into bigger perspective of holding HIVE tokens by gaining a reputable name among other HIVE stakers along with a rewarding journey.
My Contribution in HPUD
This HPUD, I decided to lock 25 HIVE tokens, and this is pretty simple and straightforward in terms of powering up HIVE tokens. Through any frontend with wallet support, a user can add HP.
My previous HP amounted around 1554 as shown in the image below:
The confirmation process usually involves HiveSigner or Hive Keychain extension, you use these dApps to approve your transactions via active key.
My current HP reaches around 1,579 tokens, it will enhance my voting power and influence in the Hive ecosystem. You can see my updated HP amount in the image shown below.
I also received a personal badge from @hivebuzz for participation in the April's HPUD. You can also get HPUD badges just for locking 10 HIVE each month. The updated badge will appear on my latest post once the HPUD event is over.
I strongly suggest joining HPUD and be show your dedication towards network's stability and personal growth. This way you can be an influential part of the decentralized Hive ecosystem.
Image taken from Ecency
Author: lordshah