Foreword
Good day to all. Another month has passed and it's time to take stock of how things are in terms of my savings on Hive. Time zoom us by like a flash and we are coming into month of June which is essentially almost the half way point of year 2024. And this essentially tells me that, if I am not on track for my goal that I set for myself, it's time to buckle up and try to put myself back on track
2024 Goal
Before I proceed further, let's recap the savings goal I set for myself when the year started.
| Power | Start | Goal | Now |
|---|---|---|---|
| Hive Power (HP) | 5000 | 9000 | 6813 HP |
In my March update, I reached 6515 HP. Today I have reached 6813 HP with a delta to main goal is 2187 HP, with about 6 months to go based on main goal timeline and 5 months to go based on secondary goal timeline. To achieve my secondary goal, it will mean that I in the remaining 5 months, I will need approximately 430 HP per month in order to reach my goal. There is no time to lose and I will need work on ways to improve my saving speed.
Performance to Plan
To examine how much more I can boost, let's look at how much I can generate at this moment.
Layer 2 Token Management
It is important to review my sources of layer 2 tokens that increased my liquid Hive and SWAP.HIVE and started planning to get them into a better state for better passive drips.
Liquid Hive Sources:
Holding EDS tokens- The amount I have yields me 0.05 HIVE per week.
Holding DAB tokens - The amount I have yields me 0.009 HIVE per day.
Holding SIM tokens - The amount I have yields me 0.022 HIVE per day.
Holding BRO tokens - The amount I have yields me 0.006 HIVE per week.
This totals up to 0.573 HIVE per week an increase of 0.566 HIVE per week as compared to last month. I didn't get much improvement on this. Time to work on bumping on these tokens.
SWAP.HIVE Sources:
Staking DRIP tokens - The amount I've stake yields me 0.0015 SWAP.HIVE per day.
Holding BBH tokens - The amount I have yields me 0.00080 SWAP.HIVE per week.
This totals up to 0.01070 SWAP.HIVE per week. There is a small increase from last update but still not very significant.
Essentially, now I need to be more mindful on the layer 2 tokens that are non passive HIVE/SWAP.HIVE generating and actively looking at repurposing them. Some might be significant enough to convert to HIVE directly, there are others that are in smaller value, which I am thinking to convert them into SIM. As for the others, I am hoping the mining mechanism that I have in my wallet will help to generate more of those passive HIVE generating tokens, e.g. ALIVE for BRO, EDSMM for EDS, DRIP for more DRIP and DBOND for DAB.
Curation and Writing
Active engagement in various Hive communities is also a good way to improve HP savings. By sharing good content and also curating the works of others will generate substantial not just Hive but also various Tribe layer 2 tokens. And like in above segment, these layer 2 tokens can be either sold directly to Hive or swap into passive Hive generating tokens to help boost in the HP savings.
Otherwise, if one is too busy, I've got another 2 option that I am also currently considering as I foresee my day work to get more busy as I get into the 2nd half of the year.
Ecency Boost
This is the first of 2 options that I would like to share and work on it myself. If you are an active user of Ecency frontend, you would have been accumulated significant amount of Ecency points by now if you've never spend it before.
There is a feature in Ecency called boost+ that one can consider using whereby there will be additional HP delegated to you which can help you in your curation work for bigger rewards. And to do so, all you need is to spend some Ecency points and your account will be boosted for a specified duration.
If you plenty of Ecency points lying around like me, I think it is a good time to start boosting and improve the curation amount and improve the HP increase.
Light Hearted Play2Earn Games
Another game? Where to find time? I recently chanced upon Rollercoin, a Play2Earn game platform that is totally casual. While it does not make you rich overnight, it can be a light hearted game to pass time when you are commuting. The games typically last approximately 20-40s and is easy to play involving some simple tapping here and there. The games generate some energy for your miners in game to work and help to mine Crypto. Not a lot but it is done passively as well as long as there is power. I would say on a minimal basis, all you need is probably to login 2 times of less than 5 minutes each to charge up the battery and play a few games to increase your power to mine. Subsequently, you can also buy more miners or earn from the ingame events. And the mined Crypto can be withdrawn and sent to Hive Engine to be converted into tokens or even Hive. And that is where I want to get the additional small boost from to reach my goal.
Check out this link if you like to explore Rollercoin
Rollercoin Link
I am likely to do a post to talk more about Rollercoin in the near future to help fellow savers in the community to learn more about it and how to go about mining/getting new miners without money injection.
Closing
I am starting to worry about meeting my goal due to the timeline and my current delta to goal. This is why I am going to adopt 2 more things that I want to do to boost up my savings and close up the delta to put the goals back on track. Hope that my sharing not only show you my status, but some of the practice I do can be of help to you in your savings journey.
See you next time!
Saturday Savers Club
What is Saturday Savers Club?
The Club is a supportive group of people who meet up around the weekly post, usually on a Saturday but occasionally on a Sunday, to share tips and techniques and have some fun in the process. Saving is a skill that takes time and practice to acquire and, like learning any skill, doesn't always go the way you planned.
Interested in joining Saturday Savers Club? Check out @eddie-earner.
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