Testing the Waters with Magi (HBD Staking)

If I remember it right, it was late last year when I saw a post on my feed about Magi Hive account@magi.network . That violet logo captured my attention, and once I started reading, I got interested right away. At that time, it was still all work in progress, so I waited mainly because what I read was so interesting. It was something about staking my HBD, and since that was already my plan, I saved all my HBD and tucked it away.

Today, I saw another update and Magi is finally live I tried the staking part using Altera https://altera.magi.eco/ and I’ll be honest, it was quite overwhelming at first. I was so afraid to make a mistake, but I was able to stake 2 HBD just to try and see. In a few seconds, the 2 HBD was already transferred and staked. It was so fast

Here is what you see on my dashboard
I used Hive Keychain to log in on Altera so it will be helpful to keep all your keys in hand.

it was such a relief seeing that notification it means I am doing it right :)

Then I double checked my balance, there it is it is now sHBD earning 12% APR isn't that cool?

I decided to add 2HBD more to stake and maybe wait another day should I want to add the rest of my remaining HBD

I scrolled down the page and saw the history of my transaction which I find very helpful. In less than a minute the last 2 HBD that I staked are now reflecting on my balance.

alternately you can also check your Hive wallet and see the transaction there

I saw the liquidity pools too I will try to explore more about them in the future but today I am happy to know and had experienced that the staking part is done in a breeze with no errors made.

So, what is Magi anyway?

For my friends like Hive account@allyson19 and Hive account@dinglehopper who might be seeing this for the first time, Magi is like an efficient bridge that helps us users connect to the blockchain and crypto world in general, smoothly with less or no down time at all.

Why it matters for us

Even if you aren't a tech expert, here is why this is actually pretty cool:

• Growing your savings: It gives us new ways to use our HBD (like the staking I just tried) to help it grow while we sleep.
• Simple and Clean: It is designed to handle the "scary" technical stuff behind the scenes so we can just focus on writing our regular blog posts and our creative community.
• Other things to explore: I am hoping our Draw A Day community can benefit from the other stuff Magi offers. Perhaps we can explore tokens and nft's that we can use exclusively for our community and gain more engagement from our members. I am not yet sure about this but I hope we can explore it together.

Have you guys started saving your HBD too, or are you still figuring out what to do with it?