Growing Your HIVE Power Like a Fruit-Bearing Tree
Last night, I struggled to sleep. Though I have been lying down on the bed for several hours, my mind remains awake.
And so I decided to turn on the light and started writing what's going on in my mind. I was thinking of a plan about how to grow my $HIVE Power like a fruit-bearing tree. I came up with a five year plan, up to 2028. If still alive, I will be 61 by that time.
The goal is to have a passive income of 20k PHP every month. The question is how can I achieve that?
Of course, there is this risk that such a future expectation might not happen due to several reasons such as the unreliability of the project, regulatory uncertainty, technological vulnerability, and market sentiment. Nevertheless, despite the recognition of such challenges, I still want to pursue this plan, and I came up with the following strategies in growing my HP like a fruit-bearing tree:
The Importance of Seeds
Though some would just trust in content creation and curation to grow their account, I think without injecting capital, the growth of your account will take a long time. Not unless of course, you are an exceptional writer and with lots of connections. But for Hivians like me who entered the space not knowing anyone, I think utilizing my savings can help in the realization of my plan. The idea is to continue using my savings every payday to buy Hive twice a month. This will serve as the seed. God willing, I intend to do this until 2028.
The seeds need sunlight and water
Here, I am thinking of content curation, role of comments, and content creation.
- Curate content
So far, I am focusing my curation activity in two tribes through my wife and my second son's accounts. As for my personal account, I am now exploring the #dbuzz platform.
- Focus more on comments
I can start with a minimum of ten comments per day. Commenting on someone's post is easier than creating content myself. There are days that I really struggle to organize my thoughts.
- Content creation
Though creating quality content is central in Hive activity, as for me, there are times that I enjoy doing it during those days when the ideas seem to flow freely. However, there are also days that I am writing due to necessity, to supplement my lack of capital.
The need for fertilizer
I think we do this on Hive as a community by learning from the pioneers and from those who are generous enough to share their expertise about the most recent trends in cutting edge technology.
Branch out
A fruit bearing tree has multiple branches. I think I see here the important role of communities. Don't take for granted the numerous front-ends built on Hive. Don't be a one tribe maximalist that considers other tribes as garbage. Yes, there will be cases that projects will fail to deliver as announced, but that's part of the reality that we have to accept in the crypto space.
Getting More Specific
For my votes to count, I need to increase my stakes in those tribes I am focusing on. This will help in my curation activity. I anticipate that once I achieved my staking goals in these tokens after several months or years perhaps, they will give me the $HIVE I need to grow my HP.
And so these are the tokens I am focusing on right now with their targeted numbers:
| Token | Goal |
|---|---|
| $LEO | 15k |
| $CENT | 100k |
| $SPORTS | 50M |
| $POB | 10k |
| $SME | 10M |
| $BEE | 1k |
| $WAIV | 1k |
Delegate your HP to Solid and Promising Projects
The potential of HP delegation is just a recent discovery for me. I have been seeing this in many Hivians' accounts, but I never understood it and that's why for almost two years, I never delegate my HP to any account.
However, two weeks ago, something changed with the introduction of the #HoloZing project. After testing how HP delegation worked, I decided to delegate 1,000 HP to @zingtoken. Since then, I have been experimenting and delegating small number of HP to selected projects like @wrestorgonline, @leo.voter, @empo.voter, and @ocdb. If I like how this delegation works, I am thinking of adding to it slowly in the coming months.
Burn cards
As I increase my card collection in Splinterlands, I am thinking to burn both the excess gold and the Gladius cards and swap them for the $HIVE I need to grow my account.
How about Gaming tokens?
For now, I only have small quantity of gaming tokens:
| Name | Current Holdings | Mid-Term Goal | Long-Term Goal |
|---|---|---|---|
| $SPS | 8,322 | 21,517 | 88,941 |
| $DEC | 5.065 | N/A | N/A |
| $GLX | 3,208 | 10,000 | N/A |
| $WOO | 108,565 | N/A | N/A |
| $ZING | 1,553 | 10,000 | N/A |
I am still far from my $SPS target. Such quantity will qualify me for 100% rewards in the Gold 3 League, the 8x DEC multiplier, and that 50% Gold/Rarity boost. Of course, the long-term goal is to be able to play in the Diamond League with the maximum corresponding rewards.
As for $DEC, I don't have any goal.
In the case of $GLX, 10,000 is my goal.
As for $WOO, though I already exceeded the 100,000 goal, I still increase my stakes coming from HP delegation and liquidity pool rewards. As for the liquid $WOO, I have been swapping it for $HIVE for more than a month now.
$ZING is the new kid in town. My plan is to sell a portion of what I am holding now and then use that $HIVE to grow my HP delegation to @zingtoken. I still have to decide about my long-term target. We will see how this project will evolve in the coming months and years.
For many Hivians, the above ideas are already common. However, this is my concrete way of growing my HP like a fruit-bearing tree.