EDSvote update #24 | Earn new minted EDS by delegating HP to @eds-vote

in #leofinance5 months ago

Welcome all to this week's EDSvote update where we look at a range of different things. Please follow the @eddie-earner account to make sure all our reports are going into your feed and you can easily stay updated on your investment.

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What is EDSvote?
Eds-vote is an account that people can delegate HIVE POWER to. In return for their delegation, they will receive EDS tokens each Monday.

The delegated HP will be used to curate content on HIVE and provide small upvotes for those that hold over 100 EDS tokens. Delegating HIVE POWER to @eds-vote will not result in an upvote. This is not a delegation to upvote service. It is a way to distribute the remaining reallocated EDS into circulation.

What are EDS tokens?
EDS tokens are HIVE income tokens that are pegged and backed to 1 HIVE each. They pay out weekly dividends every Monday based on 12% of the total powered-up HIVE balance of the @eddie-earner account. This is currently paying out an APY to token holders of roughly 35%.

How does it work?

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For full details, please see How EDSvote works and How EDSvote affects the EDS APY long over the next 25 years

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Report #25

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Let's have a look at the numbers in chart form as this is the best way to see performance and predict the future.

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Delegated in amounts increased this week few a few hundred HP and we can see in the above chart that the trend is still increasing. Slowly but surely we will hit 100k again and if we could do that by the end of the year, that would be even better 😁

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Another great week for curation rewards at 8.6% APY and over our target of 8%. We have not overused any voting power so fingers crossed we can finish closer to 9% each week.

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We earned 140 HP this week, about the same as last week, a little less. Ideally, we can get this up to 150 HP per week so we can start a 150 HIVE per week powerdown that would replace itself during the powerdown from future rewards. Looking at some ballpark figures, we will earn 150ish HP per week when we have another 6-7k HP being delegated in. We should beable to hit this amount before the last of the 100 HIVE per week powerdown finishes.

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Same is the curation rewards and down a bit from last week but not much. EDS-vote issued 70 EDS this week. The amount of EDS minted and issued to @eds-vote delegators is exactly 50% of whatever HP is earned from curation rewards. The other 50% is powered down and moved to @eddie-earner to be powered up on that account. Why? Because adding more HP to the @eddie-earner wallet increases the EDS HIVE income pool amount which in turn helps out massively with the EDS APY. For EDS and EDS miner's token holders, when we are earning more HP each week than we are minting in EDS, we are in the land of milk and honey. We're not there yet but @eds-vote is making a real difference and the support it gets, the more EDS we can issue and the more HIVE is powered up to @eddie-earner. Its like everyone wins!!

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Round-Up

Smashed it out of the park. Well not really, it's been a pretty standard week for us with slow and consistent growth. Little growth often will serve us well.

Delegating some HP to @eds-vote is currently to only way to mint new EDS that is open to all. If your just getting into EDS, missed out on EDS miners or just want more EDS tokens, this is the best way to do it and you'll receive your EDS every Monday.

The APY of 4-5% is not great and I will not pretend are lie and say it is but.... we have to remember these EDS are being issued at a value of 1 HIVE each and when was the last time to saw EDS for 1 HIVE on the open market? If you are into selling, you will have no problem and someone will buy them. If you are into holding and stacking them, you'll receive a weekly HIVE income from them. The more and longer you delegate HP to @eds-vote, the more EDS you will receive and the higher your weekly HIVE income will be. After you stop delegating, you keep your EDS and HIVE income which will only increase after the EDS flippening happens.

When the EDS APY is like 50%+ in 10-15 years. @eds-vote is long gone due to running out of allocated EDS and the only tokens being minted will be to EDS miners, you will be sorry and regretful, you be like "Damn, I wish I delegated some HP to @eds-vote back then". When all 500k EDS tokens are issued in 20ish years' time, the EDS APY will go into overdrive because the HP balance will keep increasing which means a bigger weekly HIVE income pool each week being split over the same amount of 500k tokens. 🤑💰🥳 I wonder what price the EDS token would be if it were paying a 100% APY, 5-6 HIVE at a guess. EDS could become the worst HIVE stable token out there if people are trading it for 5-10 HIVE in the future, baaa-hahaha. Not a bad problem to worry about really.

The dog came over to me and now I've lost my train of thought. Anyways, it's been a cool week and thank you for taking the time to stay up to date with EDS-vote. Thank you for all the support shown to EDS-vote and I'll see you next week.

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Thank you for taking the time to read through this
If you have any questions are would like to leave some feedback, please do so below and I'll get back to you at some point soon.

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Nice updates. Waiting for the 100K mark. Do not forget what I promised. He he!

Hmmm, i cant recall. What was it again?

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You will find out, once we reach 100K. :)

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This post has been selected for upvote from our token accounts by @noctury! Based on your tags you received upvotes from the following account(s):

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Hold 10 or more DHEDGE to unlock daily dividends and gain access to upvote rounds on your posts from @dhedge. Hold 100 or more DHEDGE to unlock thread votes. Calling in our curation accounts currently has a minimum holding requirement of 100 DHEDGE. The more DHEDGE you hold, the higher upvote you can call in. Buy DHEDGE on Tribaldex or earn some daily by joining one of our many delegation pools at app.dhedge.cc.

Glad to see this project progress.

Not a bad problem to worry about really

😁