Making The WORKERBEE Work - The Hive Engine Governance & Mining Token
I bought 60 WORKERBEE tokens last month.
WORKERBEE is the native token of Hive Engine. It is a miner token. Meaning staking WORKERBEE can mine BEE, another token of Hive Engine used as the medium of echange to avail and employ any Hive Engine service e.g creating a token or distributing a token from a reward pool etc.
And hence BEE token has a promising and prominent use case. Already.
But there is this problem with staking WORKERBEE.
Since Hive Engine also follows the witness structure same as Hive and rewards the top WORKERBEE stakers with most opportunity to farm BEEs.
Staking an insignificant amount would lead you nowhere.
And thus it's not recommended to stake WORKERBEE if you don't plan on ruling the richlist anytime soon.
But there is a workaround.
The WORKERBEE pool.
You can delegate your staked WORKERBEE to a more profound account in WORKERBEE richlist. And it can choose to share proportional BEE rewards with you.
I found this pool, or the PH-pool. Owned and operated by @ph1102.
There might be others too, I am not sure.
But the good thing is, it doesn't have fee or a commission cut. In fact the ph also distributes some other tokens besides their share of BEE rewards to all the WORKERBEE delegators.
@ph1102 distribute the rewards and posts an update every week keeping the information flow and transparency for stakeholders intact.
Though blockchain in itself is transparent but I feel its complicated and time consuming to extract and analyze data. And not all normal users are aware and proficient with using relevant tools to access the required information.
Publishing a weekly update post shows the commitment and seriousness of the founder regarding the project and also his standing as a Hive Engine witness in this case.
Things To Know - WORKERBEE
The WORKERBEE is the miner token of Hive Engine that mines BEEs when staked, by making you eligible to verify the blocks. And rewarding BEE for processing every block that you get assigned to process by the chain.
Having a bigger stake than others improves your luck and you get more blocks to verify, increasing your BEE rewards.
There is no way to earn WORKERBEE, it is only sold in the market. At times by the Hive Engine.
The proceeds from selling the WORKERBEE goes into the further development and expansion of the platform.
As a result there is this scarcity regarding this token. And more supply just can not be instilled further just like that.
Investment Perspective - WORKERBEE
Before putting in your holdings into WORKERBEE. Understand that it is at least a medium to long term investment. So think of investing an amount you feel you wouldn't need liquid for some years.
Though yes you can always unstake, it takes 8 weeks, and trade them in the market. But its just hassle.
And accumulating and growing your stake is the best thing you can do to generate a passive return in form of BEE tokens.
The APR's are not sky high. The thing to look at is the potential of upside along with an investment that also gives you some passive returns.
Moreover you can use it to accumulate BEEs overtime and employ any hive engine service, like launching your own token.
Alternatively you may also choose to hold those BEEs and grow their stake as well.
I think both these tokens have a huge upside potential in long term. The demand will never wipe out. And with developers working continuously and coming up with more offerings it's only gonna grow.
If you feel, this platform is going to be a part of your life at least for next five years and onwards. WORKERBEE is a solid investment you should consider.
Relevant Links & Reads
Here is the last update about the WORKERBEE PH-Pool
New Record! .:. WorkerBee PH-Pool Week 51 by @ph1102
Here is the first post if you need more information by this pool.
WorkerBee p(h)ool! .:. Let's Help Each Other by @ph1102
Here is another good post about what a substantial stake can accomplish.
WorkerBees making me Sweet Honey Bee's by @chronocrypto
Further & Worth Reads
Simplifying And Understanding The Hive Layer 2 - The Engine Of Hive
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