How to Get Rich Rewarding Others on Hive While Ignoring DeFi

in LeoFinancelast month

I'm not going to lie I'm a little bit jealous of all those that are getting a nice chunk of change that was dumped in their lap via the $uni token.

It wasn't that long ago that we were all rewarded with a nice chunk of change when we were all rewarded with Hive when we split from the Steem blockchain, so instead of chasing tomorrow's fad, I've decided to discuss why I'm still spending most of my time on Hive and Leo Finance.

Farming Hive

One of the best aspects of Hive is you not only earn by creating content on the platform, but you can earn Hive by upvoting the content of others as well.

It wasn't that long ago that the post rewards were changed so that roughly 50% of the post rewards go to the author and 50% goes to those that rewarded the author.

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As can be seen from the HiveStats website I earn roughly 2 Hive with my 5000 Hive Power per day. While I'm not exactly getting rich I'm earning around 15-16% APR per year by rewarding others.

This, as far as I'm aware, doesn't include the inflation rewards I earn per year just from holding Hive tokens as well, nor does it account for the other possible community tokens you can earn such as $LEO.

Invest in Yourself

I was reading a post by @edicted recently and ran across something he stated in his post that really stick with me.

I justify this risky play based on the fact that I have no plans to develop anything on Bitcoin or Ethereum, ever, but I do have plans to build on Hive and learn as much as I can

I've seen many people end up losing money in DeFi as they don't understand what they're doing or get stuck in a profitable trade that becomes unprofitable due to high gas fees.

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I'll skip over the fact that LeoDex solves all this with pretty much no trading fees and only a 1% fee when something is deposited or withdrawn.

As liquidity grows on the platform and more profitable communities grow, it's only a matter of time before hopefully, we can earn funds by providing liquidity, by delegating staked tokens to curation projects, or possibly providing liquidity on Uniswap through wrapped Hive-Engine tokens.

Other Ways to "Farm DeFi" Passively on Hive

I've written about renting Splinterland Cards before, but that is definitely a great way to earn if you don't actively play the Splinterlands Game.

I've never had much luck with affiliate programs, but Splinterlands also has that in which if people sign up directly with your link you can earn passively on any purchases that they make.

Auto Votes

If you don't have time to actively curate content on Hive you can follow other Curation projects or those that are Great Curators as can be found on the Hive Engagement League put out each Sunday by @abh12345.

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Hive.vote is another great tool you can use to vote for people and their posts even when you're not online. I currently use it to auto vote all @enjar's post as I know he's constantly creating great content.

A Good Reminder

With all the FOMO going on I had to write this as a reminder to myself to stay the course and while I think it's worthwhile learning about DeFi projects and how they can be used to earn passive income that there is a ton of value on Hive as well.

While I don't want another Hive fork, it would be nice to have a huge airdrop fall into my lap, but until then I will continue growing and earning on Hive and other crypto content platforms.

If you enjoy my content and have not yet checked out Splinterlands now is a great time to do so with the release of Dice.

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We've been de-fi'ing on HIVE/STEEM for ages with delegations and leases and all sorts of things we do here. I've not gotten into the ETH DE-FI since I don't want to risk so much capital to be profitable but I have been messing around on TRON since it's cheap I making profit but it's nothing to run home to and it's not realised gains until I sell

I think this DE-FI craze will end in tears for many but it is opening up opportunities for future financial products that give real yield and not just farming shitcoins

Posted Using LeoFinance Beta

Great comment and I completely agree. Interesting that you're using Tron. Have you enjoyed the experience and feel like you're learning anything or just throwing around money and seeing what sticks?

I read up about liquidity pools and all that but I didn’t want to waste money trying it out so when I saw TRON copy it I took 50 bucks and gave it a shot! I didn’t expect to make anything I just wanted to see what it was all about the mechanics behind it and all that

I don’t like to just read and learn I like to participate and get first hand experience and TRON gave me a cheap option! I see EOS has also launched their DE-FI platform and I’m sure we’ll see more chains follow soon enough

Awesome good to know. I definitely like getting involved as well to try and learn something, but spending $50 plus possibly to learn seems a little steep to me currently.

I may buy some EOS and see if I can take a look at their DeFi. May give Tron DeFi a try as well as much as I don't want to.

I am going to have to check out your other posts. I found this one on LEO Finance. You provide a good bit of advice to follow. Airdrops are nice, I do agree. I have finally moved all of my STEEM to the HIVE Ecosystem.

I've seen many people end up losing money in DeFi as they don't understand what they're doing or get stuck in a profitable trade that becomes unprofitable due to high gas fees.

This is sad but true. Ethereum fees are just crazy! Most folks agree. Hopefully when (not if) HIVE gets even busier with more transactions, our blockproducers/witnesses will be able to handle the load. I believe that the need for Resource Credits to make transactions will be a big help in this area.

Thanks for the kind comment. I'm trying to post more on Leo Finance as that is the type of articles I tend to enjoy writing more about anyways.

It seems like their platform is really starting to take off so I figure why not get in on the ground floor and help grow something that seems to be taking off to the moon. Hope to be able to provide more articles of value in the future!

Fantastic advices, guau you have great daily reward curation, very good, i prefer to delegate the @leo.voter and you received this amazing 16% every day as passive income.
And too you could do curation aditional with leo if could posible and learn great information similar to this you share in this post.

Posted Using LeoFinance

Do you earn Leo from delegating to leo.voter?

Yea you delegate your HP and received in leo the payment from @leo.voter it is great because you paid is safe and sure every day.

Neat :D

I'm looking for something I can delegate LeoPower to and receive Leo back.

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Wait wait, you delegate Hive power and received leo that is.
Be carefuly you do not frizze your leo during a week ok, i do it, it is delegate Hive power and received leo.

I was lucky enough to get the UNI airdrop - ironically, from my involvement in the wHIVE-ETH pool.

p.s. the deposit/withdraw fee is 0.25% on LeoDex and 1% on Hive-Engine :) Just keep an eye out for liquidity (by clicking the check liquidity button) since there is sometimes a shortage of either swap.hive or HIVE.

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Posted Using LeoFinance Beta

Good to know as I didn't know that!

Posted Using LeoFinance

I think there's a lot to be said for not always chasing "the next big thing" around.

I totally subscribe to the idea of quiet curating content and being content with decent returns for doing so. Sure, DeFi looks very alluring and exciting but I am also reminded of something a wise person once told me: "Stick to investing in things you actually KNOW something about!"

=^..^=

Posted Using LeoFinance Beta

Couldn't agree more!

Posted Using LeoFinance

Great write-up and exactly my thoughts after I realized I missed out on thousands of free Dollars via that $uni airdrop. But then I realized that I haven't done anything wrong. I am simply not interested in the DeFi world and rather spend my time here on Hive, Leofinance and Splintertalk to earn curation rewards and be surrounded by people who have similar interests. With my Hive curation I am even getting over 20% APR and with my SPT way higher than that (I have no actual numbers, just a rough estimation).

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I'd much rather accumulate more Splinterland cards right now anyways! Much more fun with no gas fees!

Posted Using LeoFinance

HIVE Network allows you to Invest in Yourself.

Few understand this

Posted Using LeoFinance

Couldn't agree more!

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