Building a Store of Wealth on Hive Blockchain

The Hive blockchain has grown rapidly since it’s early years and opened up new avenues for individuals to not only participate in decentralized finance (De-Fi) but also to establish and grow their wealth.

Hive is emerging as a promising platform for such endeavors and as many of you are aware back in 2020 I started a project that aimed to bring funds to Hive from Terra Luna Network and built a bridged token called Skippy.

Skippy was and still is a cross chain token from Cosmos, BNB to Hive and I was in the process of bridging it to Ethereum when Do Kwon Rug and I lost a heap of personal funds as well as those who bought some Skippy tokens. I did manage to claw some funds back although small and commence NFTS although this token isn’t bridgeable outside of Hive.

I haven’t forgotten about the project and I have been paying down debts and trying to regain the lost funds and am now going to be moving back into this space by strategically using BeeSwap and TribalDex to create a Hive Pool, incorporating NFTs and paving the way for NFTSpecialists to become a prominent curation account with further utilisation.

Understanding why Hive Blockchain is superior

Hive is a blockchain that emphasises community engagement and decentralised content creation. It offers a unique ecosystem where users can earn crypto currency through blogging, content creation and other social activities. The native crypto currency, HIVE is a key component of this ecosystem.

Leveraging BeeSwap for Liquidity and Yield Farming:

BeeSwap is a decentralised exchange (DEX) built on the Hive Blockchain. By utilizing BeeSwap, you can provide liquidity to various pools and earn rewards in the form of transaction fees and BEESwap tokens. To establish a store of wealth that is open to everyone we will be enabling staking your HIVE tokens in BeeSwap NFTS liquidity pools, earning a passive income through yield farming.

Building NFTSpecialists as a Curation Account:

Over the next six months the focus will be on building NFTSpecialists as a curation account on Hive. NFTSpecialists can become a recognised curating account for valuable and unique content within the community. Actively curate high quality content and collaborate with current and emerging communities. The rewards earned through curation can be redirected to the Hive Pool, amplifying the growth of your store of wealth.

Establishing the Hive Pool:

As NFTSpecialists gains traction and starts accumulating rewards we will channel these earnings into establishing a Hive Pool. The Hive Pool will serve as a collective resource allowing you to maximize your holdings within the Hive community. It will also ensure that there is a well diversified strategy on Hive which combines HIVE tokens, BEESwap tokens and NFTS tokens.

Announcing Token Utilisation:

Once the Hive Pool is robust and well established we will work with those who own NFTS and the broader community to make a strategic plan and further plans for the token’s utilisation. This could include community driven initiatives, development projects or even collaborative efforts with other Hive based platforms. Transparency and community involvement are crucial at this stage, as they foster trust and support from the broader Hive community.

We also need to ensure that the future direction doesn’t cause the pool to be drained and resources lost that puts people at risk. We want the pool and value to continue to grow and we want as many people engaging to be able to share in a sustainable model.

A Strong Community Is Key

We will be actively engage with the Hive community throughout this process by seeking feedback, collaborate with like minded individuals and participate in discussions on the Hive Blockchain.

Building strong community ties not only enhances the success of our project but also contributes to the overall health and growth of the Hive ecosystem.

So keep a keen eye on market trends and emerging opportunities within the blockchain space and let us know what you think will work well so we can adapt the strategy based on the evolving landscape, exploring new features and partnerships that can further enhance the value of the Hive Pool and NFTSpecialists curation account.

Establishing a store of wealth on the Hive Blockchain requires a thoughtful and strategic approach as many projects succumb to pool drainage and we need to really focus to build on a project that will get people to ditch their other chain assets and come to Hive.

I think by leveraging BeeSwap for liquidity, TribalDex for NFTs and building NFTSpecialists as a curation account and asset growth can create a dynamic ecosystem that not only benefits you but also contributes to the vibrancy of the Hive community.

Through careful planning community engagement and adaptability to market trends we can position ourselves for long term success on Hive.

Image sources provided supplemented by Canva Pro Subscription. This is not financial advice. Readers are advised to undertake their own research or seek professional financial services.