Hive is a unique blockchain of innovation where content creators, curators, and community builders are rewarded through its native cryptocurrency, $HIVE in many forms (liquid or staked as Hive power). Hive Power is what gives users influence on the Hive blockchain as it is used to decide the rewards on contents created. It could be hard to grow Hive Power as a new user and this is why this post came.
Powerful image by @asgharali
Why Talk about Hive Power?
During the first ever Hive Town Hall meeting on Threadcast, Hive Governance was the the major theme of discussion and it was revealing how some Hive users are ignorant about the need for their participation in governance by voting for witnesses. Some do not understand that governance participation is one of the top use use cases of Hive power. Others do not participate in governance because they think that their Hive Power (HP) is too small and will be insignificant in the witness vote count. But No! Every HP Counts and this is what makes Hive stand out among other blockchains.
Another use of HP in governance is in resource allocation. Hive's Decentralized Hive Fund (DHF) is a proposal-based DPoS financing alternative. You may call it a "kind" of crowd funding mechanism of the Hive blockchain where users approve for a proposal to receive funding by their stake-based voting. When a proposal is submitted, community members who are Hive stake holders review and if they are satisfied, they vote to support that funding. Here again, every HP counts in the funding of a proposal.
From the two narratives above, we would agree that holding Hive Power as a Hive user is as being a part of the Hive ecosystem itself. A good Yesterday's Leo AMA was spent discussing the LeoFinance proposal that lost funding due to lagging by 2 million HP. It is obvious that many users active on LeoFinance platform weren't voting for the proposal or perhaps are not intentional in building their HP since they are unaware how it can be very useful in community building in times like this. All of the afore and more prompt the need for this post exploring the different strategies for users to grow their Hive Power.
Strategies to Grow Your Hive Power
There are several strategies and options available to help every user grow Hive Power. There is no cause for alarm if you do not have the m,oney to buy Hive, there are many other cheap options to growing your HP. Let's learn!
1. Content Creation and Engagement
Content creation and engagement is one of the primary ways to accumulate Hive Power. All you need to do is create high-quality content in the relevant community using the relevant tag. Do this consistently either as video text, images, etc. Beyond creating contents, users that wish to grow their Hive Power must engage with other users through meaningful comments and replies to comments. You can also participate in community initiatives that may come with Hive rewards.
Every upvote on your content and engagement counts. They increase your reward and by extension Hive Power as well as help in growing your reputation.
2. Content Curation
Content curation involves discovering and upvoting valuable content created by other users. When a user upvotes a content, (s)he earns a portion of the author's rewards in Hive Power. More content curation equals more Hive Power. It doesn't matter whether your Hive Power is small or large, the growth is in the same proportion.
3. Holding Hive Tokens:
Engaging Hive-engine tokens is an unpopular yet effective way of growing your Hive Power. I am a testament of the effectiveness of this method, thank to the encouragement of @taskmaster4450. Hive engine tokens are layer2 tokens on Hive. They are relatively cheaper than Hive and some can be staked and used for layer 2 community curation. Curation returns with hive tokens have higher APY, hence, the profits can again be converted to Hive on the base layer and powered up as Hive power. This option gives you influence both at the main and layer 2 of the blockchain.
4. Buying and Powering Up Hive
You can also grow your Hive Power by buying it from a Decentralized exchange (DEX) or Centralized Exchange (CEX) like Binance and then you power it up. Thanks for events like Hive Power Up Day (HPUD) that makes powering up Hive fun and more rewarding. this option requires initial investment capital.
NOTE:
It is important to know that growing your Hive Power could be a gradual process. Be consistent and patient in your activities irrespective of the approach you choose. Create valuable contents, curate contents of other users and engaging with others, to steadily increase your Hive Power to become a more influential member of the Hive ecosystem. Your Hive Power can grow if you know what to do despite your budget.
If you found the article interesting or helpful, please hit the upvote button, share for visibility to other hive friends to see. More importantly, drop a comment beneath. Thank you!
This post was created via LeoFinance, What is LeoFinance?
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
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