How does HP work and why to delegate it?
One of the most important aspects of Hive is the social network. Be it blogging platforms (PeakD, Ecency), microblogging (InLeo) or video sharing (3Speak). All these features are longing for our "likes" our upvotes.
If you are new to this world, then here is a small info, the amount of your Hive Power (HP) defines the strength of your upvotes. If you see an account giving a large upvote of a few tens of Hive under a content in the above platforms, then it automatically owns or got delegated a lot of HP.
For content creators this is the real world appreciation of their posts (though likes are nice as well).
HP is used all across the Hive Blockchain, when you confirm transactions to:
- create posts
- comment under posts
- playing games like Splinterlands, Cryptoshots, WOO or other games.
There are only a few ways to get it like:
- get upvotes to your contents
- Curate content on hive. and get a share from your reward back (50% to content creator / 50% for the curator). Curate simply means upvote a post.
- stake your Hive (or how the fancy kids call it Power It Up!, hence Hive POWER)
It is easier to get Hive:
- buy on big exchanges, where it is listed (see here a few places)
- buy on the secondary market like Tribaldex
- earn from staking
- earn in Liquidity pools
Now if you are not a big fan of curating you can invest your Hive Power into other projects, which might give you some kind of benefit.
Let us take WOO (Wrestling Organization Online) for example:
WOO asks the community to delegate HP to them, so they:
- can give out bigger upvotes for WOO related content creators
- gets a share back from the upvotes
The HP delegator gets:
- staked WOO, which is one of the game assets. The delegator can prepare for the game launch with these assets, or undelegate them and sell them, when the price is right
- If the HP delegator creates WOO related posts, then they will get an upvote from WOO as well.
There are other similar projects, like the new Holozing, the good old Hive Pizza project, and there are a lot more such projects...
You can receive upvotes on your content, if you delegate to the SBI Project.
Feel free to share more projects in the comments. I definitely scratched only the surface of the Hive ecosystem.
Great explanation!
At the moment I am only delegating to @holozing. Used to delegate to @wrestorgonline but wanted to have some Zing as well.
The only conclusion I can make is, I need more Hive (Power) ^^
Thank you!
Definitely. A lot of posting brought me a lot of HP when I started. It gives some small returns, but none the less it is always great to see when passive income is happening :D
PS: Do you need so much HP in reserve? Are you curating a lot? The maxed I needed was 100HP when I was playing Splinterlands and doing posts daily...
!PIZZA
I need just a couple for my needs aka playing some splinterlands, engage on hive.
But, I try to curate actively (although my hp is way too low to make that much of a difference imo).
But, I think / believe that being able to give a decent upvote, let's say $0,10, will attract people to check out my articles and interact and get the snowball rolling even further. Ofcourse this is difficult to measure.
The other option is delegating the hp and trying to achieve the highest apr in combination with supporting certain projects.
I don't know what would be the best option. I do know I want more hp as I believe its price will climb during the next bull and in the meantime I can curate and achieve an apr of about 10% + 3% 'free growth of apr' or is this 3% already included in the average of 10%? Not sure on that.
Or I could delegate and try to overperform these percentages which is definitely possible if you keep informing yourself about the different projects and their aprs.
Cool, makes sense then to have the HP available. Good luck :)
$PIZZA slices delivered:
@arkasz(2/10) tipped @stekene
Wow your post is very informative, thank you very much. It has caused be to research for into the other projects like SBI around hive. Am not done studying though, but it seems to me that the SBI voting should have changed by now, if not then I think am jumping in. #WOOgames
If you check this post, then you can see that I received an upvote from steembasicincome that is the SBI account. I had 50HP delegated to them till now. The reward did accumulate quite a lot, as I was not posting for over a month I think.
They have also another feature, where you send them a HIVE (corrected from HBD according to the below response), and then they will upvote your posts forever. The upvote depends on the amount of HIVE (corrected from HBD according to the below response) you sent to them.
Wow 🤯🤯🤯🤯🤯🤯🤯, boy oh boy, do they have discord page or a site.
Check out the post I shared there is an FAQ link there https://peakd.com/hive-189312/@steembasicincome/hive-sbi
I saw a discord link here as well, but I didn't check if it is still working.
Thanks a million times 🙏
Our full documentation is at https://docs.hivesbi.com and our discord is at https://discord.gg/Z5KVQ5whKR
Please send HIVE, not HBD (we will accept HBD when the price is greater, but the extra value is a donation!)
Upvotes are indirectly related to the value sent (sent value is effectively staked to the benefit of the sponsored account, and then you receive your curation back as upvotes on your own account.) More stake means bigger upvotes, but these are not bought votes with immediate payback.
Thanks, corrected.
This post is very informative and I got to understand what delegations mean. Thank you for sharing
You are very welcome!
Thanks for the mention of our program! We would like to point out that to receive upvotes for delegation to @steembasicincome, you first need to be enrolled in Hive SBI by sending at least one sponsoring transaction (being sponsored in one). You can learn more on our documentation page at https://docs.hivesbi.com