Hello and welcome to this weeks EDSD post.
What are EDSD tokens?
EDSD @eds-d are the last to be released token from @eddie-earner because now all 500k EDS are allocated. Some will be aware that I have been itching to release an HBD-backed token for EDS for a long time but I could never think of a good model. I was thinking how can EDSD compete with the 20% APY being offered for saving HBD currently? This was the wrong way of thinking, let me explain.
I am aware that there is a demand for EDS tokens because they have a small mintage and pay out a handsome HIVE income equal to over 25% APY. We seen from @eds-vote that investors were happy to split rewards and receive 50% of the curation rewards as EDS with the other 50% being powered up to @eddie-earner which increases the EDS HIVE income pool. Win/win. EDSD is based on this model.
EDSD tokens are equal to a HBD Bond that you buy, hold a long time, get a yield and when you want your HBD back, you convert your EDSD back into HBD. All HBD collected from issuing EDSD is added to the @eds-d saving wallet. 100% of the interest earned is converted to HIVE with 50% used to mint and issue EDS at the value of 1 HIVE each to EDSD token holders and the remaining 50% being powered up to @eddie-earner. Basically, 100% is powered up and we issue EDS rewards on half the amount powered up.
After you exit, assuming you stacked your EDS, you will have an HIVE income for life or at least as long as mine, (38). The longer and more EDSD you hold, the more EDS you will get and the higher your HIVE income will be. Pretty simple, buy it and forget about it. EDSD will not last forever as they have a set amount of EDS allocated to them and when the allocation is done, EDSD will either wrap up or introduce another reward. We're talking a few years, not a few months.
For full information about EDSD and FAQ's, please click below
Week 2s Update
Get ready to embark on another rollercoaster ride through the wild and wonderful world of EDSD with our Weekly Report. This edition is juicier than a pineapple at a tropical crypto party, price shenanigans, and tech breakthroughs that even Elon would raise an eyebrow at. Let's get into it.
300 HBD was added to the savings account this week. At this pace, we will be at 5000 HBD soon and earning $1000 a year in interest. The growth of EDSD should be slow and steady as more people become aware of it and already holders add more to their bags.
The HBD interest (blue line) earned this week was higher than last week and we were able to convert this into more HIVE (orange line). This is good because the more HIVE we can get for HBD, the more...
EDS we can mint. I have already minted this week's rewards of 25 EDS and from what I can see, they have already been distributed. To date, EDSD has minted 183 to EDS which is not a massive number but we have an HBD-backed token, we're minting a few EDS and powering up some extra HIVE to @eddie-earner.
Investors' Path Start to Finish
- Send any amount of HBD to @eds-d
or - Set up a HBD recurring payment to @eds-d (for Saturday Savers 🤑)
- Receive EDSD in your hive-engine wallet a few moments later
- Hold EDSD to receive weekly EDS rewards each Monday
To exit
- Request cash out in the weekly EDSD post
- Send your EDSD tokens to @eds-d
- Receive your HBD back after 3-4 days
Good to see this project is going very well and people are getting a good profit.
It is coming along better than I thought and increasing 200-300 a week. If we can keep this up, the account would grow by around 10k a year which would be amazing.
Thats very good.
Following instructions here, @eddie-earner:
All done, on my side. Please consider this my request for cashing out my 285 EDSD.
FWIW, I really like this token. My request has nothing to do with any sort of unhappiness, etc. It is for personal reasons ...
Hello, thanks for leaving a comment about this and making me aware. I see the tokens in the account and have started a HBD withdrawal. When the HBD becomes liquid in 3 days, I will forward them to you.
And no worries about selling them back, I offer a buyback because people should have an easy exit instead of having to sell them cheaply to sell them fast on hive-engine. Plus you can always buy back in as there's no limit to these 😎
Also saw your message on the SPI discord and replied there as well.