Hello EDS'ers. Today is the day we issue the EDS weekly report to keep all your guys up to date and let you know how things are going.
What are EDS tokens?
EDS tokens are HIVE income tokens that pays out weekly dividends every Monday based on 12% of the total power up the balance of the @eddie-earner account. This is currently paying out an APY to token holders of over 25%.
(Example of how the HIVE income pool is worked out)
- EDS is pegged to 1 HIVE per token
- 12% of over 53,000 HIVE POWER pays out (53000*12/52.18) 121.88 per week
- 24,900 EDS in circulation each yield (121.88/24900) 0.0048 HIVE per week
- 0.0048 each week for 1 year (52.18) equals 0.255 HIVE
- 1 EDS pays out a HIVE income of roughly 25.5% per year
EDS tokens launched with a hardcap of 500,000 and a public sale of 20,000 tokens each issued for 1 HIVE each. The only way to mint new EDS tokens is by owning and staking either EDS miners (EDSM) are EDS mini miners (EDSMM) tokens. These miners when full issued and staked will yield a 20% minimum ROI per year.
EDS converts all earnings, airdrops, tribe tokens into HIVE. This account is 100% focused on powering up as much HIVE as possible. It's just that single-minded. This projects weekly saving club content is run by @shanibeer and wallet by @silverstackeruk both on behalf of SPinvest. This is a long term project and should be viewed as a token to stack up and HODL. By some miners, let them mint you some EDS tokens, build a pile and collect weekly HIVE dividends. In other words, bu some EDSM miners and forget about it. Add a few every week/month and watch your EDS pile grow. You can also buy EDS directly from the market, if you add a buy order for any amount at 1 HIVE each, it'll get filled. It might take a few days but it'll get filled as some miners like to sell their mining rewards right away to lock in them profits.
Another week has passed and we are ticking along just nicely. Never mind the crypto market crash. this means nothing to eddie-earner. EDS is completely market cycle proof, if HIVE is trading for $10 or 1 cent, EDS is still worth 1 HIVE and the APY would still be over 30%. This is because EDS is 100% HIVE, we don't hold 1 hive-engine token, 1 gaming NFT are even a PUNK, its all 100% HIVE beeeeeby.
Getting close to having 30,000 EDS out there sitting in people wallets which is cool. This will happen in 10 weeks time for us. Does'nt mean anything, just means that EDS miners will be minted 10,000 EDS tokens. We still have another 270,000 tokens to issue. Might takes a few years decades but when minted, they will be backed with 1 HIVE/HP each and not a promise of something thats never comes.
Earning from inflation this week were good, i don't normally talk about inflation but this week it has popped over 3% which it does not do often. EDS earns 42-43 HP each week just from holding HP and this grows as our HP balance grows.
This is still growing each week, it look likes it going sideways but it is increasing a fraction each week. The HIVE income pool has more than doubled since year start so we've had a really year so far and we might start next year with a bang! and get this to over 200 HIVE per week.
It has been 6 weeks from the last of the EDSMM were sold off and we've had 6 consecutive weeks to the EDS APY declining. We have dropped from a peak of 31.88% all the way down to, wait for it.....30.82%. What do you think of that? The EDS APY has dropped 1% in 6 weeks. Keep in mind, that we are doing the bear minimum here, just letting it run in autopolit and taking care of itself. The past 6 weeks have verified for me that EDS is sustainable long term.
We will see a time when the EDS APY drops below 20% but this could be 2-3 years off and according to my projections we'll bottom out at around 15-16% and then the flip[ will happen and it will start to increase and then always increase forever. When i say increase, i mean maybe 1/10th - 1/5th of 1% each week. Should average out at 7-8% per year which is beating HIVE POWERS inflation which makes EDS an inflation proof HIVE income token.
When the flippining takes place, I'll explain what the flippining is. Right now, EDS mints 196 EDS tokens per week through its miners. These EDS are backed by 1 HIVE and that HIVE has to come from somewhere. EDS earns about 300 HIVE per week in total, 170 of this is the income Pool and sent the token holders and the remaining 130 is powered up to back newly minted EDS tokens. Now your thinking, if you mint 196 EDS and power up 130 HP and EDS are backed by HIVE, you're 66 HIVE short. You would be right, the remaining 66 HIVE is taken from EDS's HP balance, it's our ACE up the sleeve. There is 74,800 HP and 29,000 tokens so we have lots of HIVE to back tokens.
The number the EDS being minted each week is a set number, each miner mints 98 EDS tokens a week and this does not change. The amount of HIVE we can earn is not a set number and as our HP balance grows, there will come a time when we are able to power up more HIVE than EDS tokens being minted. When this happens, the flip will have taken place and we will be in the land of milk and honey because our HP balance will only continue to increase while the amount of EDS tokens being minted does not.
I think I could write a whole post about this because I have just skimmed through it. Hope it makes sense.
How do you build a HIVE income that only ever increases over time?
If the EDS project sounds right up your street, there are 2 ways to get your hands on EDS tokens. Building a HIVE income is one of those things when it's better to get started sooner than later. We all put money aside for a pension/old age with the money we earn from jobs, why not do the same with blockchain earnings? If blockchain is the future, why not be playing the game of life 3 steps ahead of everyone else? There's no day like day to start increasing your income and the snowball effect is real when you have patience.
Mine them
The 1st EDS miner (EDSM) is now sold out and can be bought from the hive-engine market by clicking here
The 2nd EDS mini miner (EDSMM) is still available to buy at the cost of 1 HIVE per mini miner by clicking here
Buy them
Or buy them directly from hive-engine from someone looking to sell out. You can place a buy order for 1 HIVE and just wait, it will get filled. Click HERE
Weekly Roundup
Things are good, things are always good for EDS. It's such a simple project to run and maintain and the results are amazing. It just goes to show that simplicity is best. We have a few rules and as long as I stick to them, EDS will be paying out for as long as HIVE is online. Simples
Income payments will go out this evening. Last week, nobody missed out and I am very happy about this. Im still 95% sure it was an RC problem, things have got expensive. I used to run the payments account on 25HP, now it needs about 1500 HP to be comfortable. Anyways, its all sorted now, fingers crossed.
Have a great week everyone.
@eddie-earner is operated and its wallets/funds are backed by SPinvest
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