Learning About HIVE Tokens

in LeoFinance3 months ago

I'm a bit late to the HIVE token economy, but better late than never.

I've used HIVE Engine a few times in the past, to exchange the tokens I had for HIVE, not knowing what was going on with all those tokens or how I was earning them. So yesterday I decided to take a few minutes to understand what they are and how to earn them.

I went over to HIVE Engine https://hive-engine.com/ and started to look into each token.
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Initially I thought most of the HIVE tokens like STEM, PIZZA, FOODIE, etc. were just given to you by other users as tips. However I quickly realized there were several ways to earn them.

  1. Tips - This is the most obvious, especially with BEER or PIZAA. Often times a commenter will tips you these tokens in a comment on your post.

  2. Tags - This is probably the most important way to earn tokens. By posting in a certain community, say STEMGeeks, you will earn STEM tokens as well as your normal HIVE and HBD rewards. I had no idea this was the case until I found the STEMGeeks front end, https://stemgeeks.net/@rt395 .

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Looks familiar eh?

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Several tokens have these front ends and ways to earn their tokens like FoodiesBeeHive and ProofOfBrain too.

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3.. Staking - Staking your tokens is essentially earning interest on your deposit. You lock up the coins, and get a percentage of said coin back. You earn 3.03% on your "staked" HIVE Power annually. Some other chains allow more benefits like voting, etc. when you stake. I'm not sure if these tokens have any additional benefits though.

I remember back in 2018 when SMT's were going to be the big thing on our chain. It's been long road getting here and it's looking like a very bright future for HIVE. The devs and entrepreneurs who enabled tokens and built the tokens themselves have done us all a huge service.

It's going to be very interesting to see how these tokens enable additional, positive economic impacts on the main HIVE chain. I'd appreciate any additional information on token usage in the comments as well as any good posts explaining them.

Oh, and I know, I should change my banner to reflect the HIVE.

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All true but if you use the tag stem but not use the stemgeeks.net website than you wont earn fully. Part of the stem earned will be burned

50% of author rewards, in fact.

Other frontends like LEO and NEOXAG, etc. will burn 10% of author rewards if you do not use their frontends.

Is using the site the same as posting through the community? I do my posts through the communities, not on the sites themselves.

When you stake. You will getting additional token in your wallet.
Also try to comment in all the platform so that you will be getting there token small small

Posted Using LeoFinance Beta

Thanks for sharing! This is very interesting.