Passive Income On The Hive Blockchain June 2023
Building passive income is something I really enjoy. While there's really no fully passive income they all require some form of work, money and management they do allow you to do more while earning more and saving you time. The one thing we all have the same of is time so the more you can save of that while producing more the higher your income and wealth should be.
With the creation of blockchain, web3 and cryptocurrency we are now on the path to some seriously powerful ways to build passive income and wealth. In this article I'm going to be going over the Hive blockchain in particular
HIVE and HBD
Hive in the main token of the hive blockchain and has a number of benefits for powering it up. By powering it up you will earn curation rewards which is somewhat a form of passive income which I'll go over in more detail below.
However powering it up also means you will have more resources to do more things on the blockchain of hive and also act as a form of authority on the chain. Your powered up hive can be used for votes on witnesses who run the hive blockchain and contribute development to it. It can also be used to vote on DOA projects to see where that money should go to and fun certain development projects.
HBD is a algorithmic stable coin which should hold roughly $1 value worth of hive at any given time. While it does change a bit it still offers up a massive 20% APR yield at the moment. Keep in mind this is an adjustable rate in which can change higher or lower at any time.
DEFI
DeFi is another rather passive income source which simply requires an investment. DeFi platforms such as CubDeFi offer the ability to attach defi into your hive blockchain via the binnance smart chain. On this defi platform you can use hive, HBD and LEO.
Curation (Not So Passive)
While I wouldn't consider curation passive it can be via curation trains or simply doing some light reading some content you find enjoyable and drop it a vote. By doing so you'll earn 50% of the curation rewards from others that drop votes on worthy content. By doing this in an affective way you should yield close to 7%-10% APR.
Coming Soon
One of the best passive income streams is coming soon. That would be ad revenue from front ends such as LeoFinance.io think of it like twitter but instead of twitter getting all of those funds it's given back to the creators on the platform and those that engage.
Gaming
Yep gaming also plays into passive income mainly from what is called gamefi by taking part in the tocknomics and other assets which can be rented out or pooled into defi gamefi system. One of the largest examples of this on the Hive blockchain would be Splinterlands
Well there you have it lots of ways to start building passive income right here on the Hive blockchain. As some of the coming soon features get released I'll be writing in more detail on those and how they work and how you can potentially maximize your rewards from them. To keep up to date with that be sure to drop me a follow.
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!1UP There are so many ways to create passive income at Hive that if you live in this environment for a long time, eventually you will be on multiple income streams and won't even realize it
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I'm particularly excited about the coming soon one. The Leo ads model will be a good source of passive income. At this moment, Hive and HBD are the passive incomes I'm actively working on building. DeFi seems a bit complex to me.