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.
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?
For full details, please see How EDSvote works and How EDSvote affects the EDS APY long over the next 25 years
Let's have a look at the numbers in chart form as this is the best way to see performance and predict the future.
Another week has passed and the HP being delegated into eds-vote increased by around 300. At almost 6 months since launch, im liking the look of this chart to date. We have a steady stream and mix of new delegations, people upping current delegations and HP inflation. 100k is maybe not doable before the end of the year but we never know, we might get some EDS degen dump a 10k HP delegation to @eds-vote. Could happen 🤞
This week's curation APY ends 0.01% higher than last weeks 8.6%. When we factor in HP delegations increasing, curation rewards being paid 7 days behind and not overusing voting power, earning 8.61% is amazing.
Curation rewards this week are 141 HP, a tiny bit higher than last week. When we have closer to 93k HP being delegated in, we should be earning 150 HP per week which would let us power down 150 HIVE per week for as long as those delegations stay in place. Earning 150 HP a week is a mini target of mine.
71 EDS minted this week from @eds-vote. Currently, around 20% of all the EDS being minted is now coming from eds-vote which is a cool stat.
Another solid week for @eds-vote. Each week we see small growth but for the 6 months, its been consistent. The more HP people delegate to @eds-vote, the more curation the account earns and the more EDS it can mint and issue to delegators.
All the HP earned from @eds-vote is powered down and transferred to @eddie-earner to be powered up. The EDS APY is directly connected to the @eddie-earner HP balance so when we can power up more HIVE, the EDS income pool increases. This helps massively with the EDS APY and sheds years off the turn time between the EDS APY declining to increasing.
Thanks for all the support so far, feel free to ask questions below.
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.