Native Coin & Tokens
This post is part of a series I’m building to help beginners on Hive learn the basics. My goal is to help you to get a base to build on your time on the platform.
Covered So Far
I’ve created an index post showing what is covered in each part of this series.
Visit the Index to review what has been covered.
The Native Coins
I’ve already talked about Hive, Hive Power (HP) and Hive Backed Dollars (HBD) but let’s just do a brief review.
Hive when staked becomes HP which grows your influence on the platform. The more HP you have, the higher your upvote will be. Your HP also earns interest as set by the Consensus Witnesses. It’s currently 2.88%.
To convert your HP back to Hive you need to ‘power down’. A full power down takes 13 weeks. You’ll receive weekly amounts during that time.
When HBD is paid out to you it is liquid like Hive is. Both Hive and HBD in liquid form earn no interest. If you move HBD into Savings it will earn 20%.
It’s a good idea to put liquid Hive into Savings even though it wont earn interest. Your Savings takes 3 days to be available for withdrawal.
If someone manages to get into your account, they wont be able to steal your funds right away and you’ll have some time to get your account back.
The Hive Engine
Did you know in addition to earning HP and HBD you can also earn other tokens? Tokens that are traded and used on the platform. Some will build value over time, some wont.
Earning them is easier than you think.
They are called layer 2 tokens and are found in the Hive Engine.
Many of the projects running on Hive have tokens available for you to earn.
Remember I told you about DreemPort where you can curate content and then submit your own content to be curated? If you have a Hive account, you will earn DREEM tokens.
Many of the tokens were created to be earned when you post in their own frontend. There are many available so I wont try to list them all…