I was looking at Hive Engine and i noticed that I had a lot of tokens and no idea what to do with them. Sure, I could do some events with Beer, Weed, DEC and STEM, but I only had so much of those and that didn’t answer what I would do with the rest.
From a quick look at the trading of tokens, most hover around the .20 Hive mark. Some do better, some do worse. I am sure there are some tokens that are in much higher demand that I might not have, which makes getting them and hodl the best option. I probably should just trade out any that I don’t know for Hive.Swap so that they don’t litter my wallet. Nobody likes a dusty wallet.
I did notice that a bunch of them had a lock symbol on their row. The lock symbol is for Stake Tokens. In the case of cryptocurrency, staking a coin allows you to earn a kind of interest or extra functionality on the coin when you set it aside and don’t touch it. This is what we do with Hive Power, we set aside the ability to spend Hive in order to use that stake power to up vote articles and do other actions on the Hive network. I expect that staking these tokens would do the same, either allow for interest earning of the token or allow for other functionality from staking.
One token that actually tells you what you get out of staking is BEER. As I mentioned above, BEER can be used to do Events, which are part of dCity. But, with that, you are buying the event. However, if you have enough BEER, you can tip other people BEER.
As you can see, one of my articles got a BEER tip from Rising Star, which is another dApp you can earn BEER in by doing a Mission. I need to do more BEER missions. I also got some Pizza, which says it as the ability stake like BEER, but it doesn’t have the Stake Token lock.
Anyway, I appreciate BEER and their efforts to inform people on How to Stake BEER. I hope to earn enough BEER that my stake side can allow me to tip and earn more BEER. BEER has a very small supply, unlike most other tokens, so I can see that it’s value will be higher in the long run.
As for the rest of the tokens that I am adding to the stake pile, we’ll just have to see how they add up!
This article was also posted on Hive
Dean has been playing around with programming ever since his family got an IBM PC back in the early 80's. Things have changed since BASICA and Dean has dabbled in HTML, JavaScript, Action Script, Flex, Flash, PHP, C#, C++, J2ME and SQL. On this site Dean likes to share his adventures in coding. And since programming isn't enough of a time killer, Dean has also picked up the hobby of short film creation.
