The Hive blockchain is paying a nice 12% APR on HBD in the savings and a lot of users are taking advantage of this. 



 

![01.png](https://files.peakd.com/file/peakd-hive/dalz/23tkk12vTFhcd4HMEohcck3M2ZKQtsHYUYursf2M16f27UuddXibtYYs77exd1Nb5FjiP.png)



HBD interest can be claimed once per month and to be claimed users need to click the claim button or makes some other operation related to the savings account. What this means is that not all the earned HBD interest is claimed on regular basis and there can be some differences in the claimed VS earned HBD interest, waiting to be claimed. 

Here we will be looking at the data for the **HBD interest claimed VS earned**. 


When the interest on HBD was first set by the witnesses somewhere in March 2021 it was only 3%, then they push it to 10% after the HF and now it is 12%. You can see what the interest rate is set by the witnesses here https://peakd.com/me/witnesses.


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Now let’s take a look at the data and see how much HBD has been transferred to savings and who is taking advantage of the HBD interest rate. 

**The period that we will be looking at is from March 2021 to Feb 2022** .

We will be looking at the following:
-	HBD balance in savings
-	Monthly Earned VS Claimed HBD Interest
-	Cumulative Earned VS Claimed
-	Top Accounts With HBD Savings
-	Top Accounts Earning HBD Interest

# HBD Balance In Savings

Here is the chart for the HBD balance in savings in time. 


 

![image001.png](https://files.peakd.com/file/peakd-hive/dalz/23tvVvwgozmjyoVjv4tL69xMxePyxpTunVaWAexsWUG8R5hRC9NFrTFhmstoQbzhqsRMy.png)


Prior to July there was somewhere around 150k in the savings. Then it started to grow and at the moment there is **2.9M** HBD in the savings. 

As mentioned December was a record high month for HBD transfers to savings with more than 1M deposited. January has seen a negative -230k HBD, while February is positive again with 300k HBD more added to savings. The amount of HBD in savings is still relatively small and a few big players makes the difference. 

## Cumulative Earned VS Claimed
Here is the **monthly** chart. 
 


![image003.png](https://files.peakd.com/file/peakd-hive/dalz/EoEobRDGV35TDJErfXyeuCBE2Q8yYEfVPaJ8YFXBjfWTLBYQVoJfHieSbENYtJcyKbn.png)


Until June 2021 all the accounts that had HBD balance were receiving HBD interest and for this period earned = claimed. After the Hardfork on June 30, 2021, only the accounts that have HBD in savings are receiving interest. 
We can see that in the first month after the HF there was deviation with around 5k HBD earned and 1.7k claimed. August is around the same, while September, October and November all have more earnings then claims. In January and February this trend continues, especially in February where there is 

## Cumulative Earned VS Claimed HBD Interest
When we plot the cumulative earnings vs claims we get this. 
 


![image005.png](https://files.peakd.com/file/peakd-hive/dalz/23wqe49nerV3UsrSfswEULCX5ejaXdmBpCj4jeTULVfRadtp7PMiod3iLTQh8YwiLjsyZ.png)



*Note: HBD Interest earnings are calculated from the HBD balance in the savings on each date and the APR for that date. I have extracted the HBD interest rate from the witnesses updates but there are some approximations what was the exact interest on certain dates, especially when the interest rate was changing. Because of this this data is approximate and not 100% accurate. *

As we can see the unclaimed HBD interest started to accumulate from July 2021 and at the moment it is around 30k HBD. There will always be unclaimed balance, as the blockchains itself is putting a 30 day delay. 

These are small amounts of unclaimed HBD interest and they don’t pose any significant treat to the blockchain. If a lot of HBD is left unclaimed (in millions), if claimed at once it can cause a significant changes in the Hive economy, like increasing the debt level, or maybe conversions to HIVE and increasing the HIVE supply. 

# Top Accounts With HBD Savings
Who has the highest balance in HBD savings? Here is the chart. 

 


![image007.png](https://files.peakd.com/file/peakd-hive/dalz/23tGY4gqJmSe2P2BwnxapKEJRNxC1X7k5j3i1ahc1khLCkSbdD1i5m5kir5YVpzQ1rcea.png)



At the moment @mika is on the top now with almost 1M HBD in savings, followed by @muenchen and @parkman. The @alpha account was in the top till few days ago but it has made some big moves recently. 

### What about HBD interest? 
Here are the top accounts that claimed the most HBD interest.

 

![image009.png](https://files.peakd.com/file/peakd-hive/dalz/23tGXrZCnfmWHUatfaBTHWSU8X8fKzSqgvb8b46KR4KHpubHTeucmS1ZttDBfdnDxSXXW.png)



*Note this is interest after Jul 1, 2021. Before this all the accounts having some HBD earned interest, while after only the once in the savings.*

Mika is on the top here with 26k in interest followed by @alpha and @muenchen. 

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Overall, the HBD savings have seen an up trend with the amount of HBD put in savings going up and now reaching 3M. The HBD interest earned from this has also grown in the last months, but we can see that not all of it is claimed. It is understandable to have a lag on the HBD interest claims, as the blockchains itself is putting a 30 days delay. The amounts of HBD that is not claimed is still small and insignificant. If in time (many years) this balance grow a lot it might cause some disturbance to the Hive economy, like spike in the debt level or the HIVE supply, although as its stands now the odds of this are extremely small. 

Although with some spikes here and there, the HBD balance in the savings has a very clear uptrend. With the following HF and raising the debt limit, HBD will be even more secure and this trend will continue. 


All the best
@dalz