This chart summurise where the new HIVE came from in 2023. A total of 24M new HIVE added.
Curation rewards are on the top with almost 11M.
The more specific category are the conversions*. In the above they are -1M negative. If we break down this further we will get something like this:
- 14M added from HBD to HIVE conversions
- 6M removed from HIVE to HBD conversions
- 9M removed from HIVE to HBD conversions from the HIVE balance in the DHF
The last point is a bit specific. That is the HIVE held in the DHF that is slowly being converted over the years and is getting smaller each year. The overall market conditions or user behavior dont affect it. If we remove these, then we will be at positive 8M from conversions, adding a total of 32M HIVE in 2023. But the overall number for the HIVE supply doesnt work like this, so it is as show in the chart.
As mentnioned the conversions in the DHF are less impactfull with each passing year.