EDSvote update #27 | We Did It! | Back to Over 100k HP Again!

in #leofinance4 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 #27

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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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Big boost this week and we're back to over 100k delegated in again. Hee-yaa! Thanks @shanibeer for your support, you should be pulling in just over 1000 EDS per year. Thats massive!

Ontop of the big boost, we get 2000-3000 more new delegations as well so its been a killer week for us. This puts earning back to over 150 HP per week and we can start a new 150 HP powerdown per week sooner. Great, fantastic, amazing stuff.

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The result of getting a big delegation is the curation APY drops. This is because curation rewards take 7 days to pay out. 7.17%, On the flip side, if we lost 50k in delegations, the APY for that week would double.

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Better than last week at 141 HP. Next week should be better again and at a guess around 155-160 HP. That is a nice amount and will of couse help EDS alot. We currently powerdown 100 HP per week, adding another 50 to that soon will help reduce the EDS APY decline even more which is one of the primary goals of eds-vote. Hitting milestones like this is amazing and it's always great to see the support received for the project.

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More curation rewards equals more EDS minted and issued to people that delegate HIVE POWER to @eds-vote. We minted 71 EDS this week which has been the norm the past 5-6 weeks. As we continue to grow and expand, more EDS will be minted. We can see in the above chart that we dont get growth every week but we have more hits than misses.

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Round Up

Now we are over 100k HP delegated in again, we now aim for 200 HP in curation rewards each week which would mint 100 EDS. Let's hope we stay over 100k longer this time around. The get there, we'd need to have roughly 131k HP being delegated in. We got to curation earnings of 195 HP when we had that big delegation for a few weeks.

So... no more 100k target, the new target is 131k HP being delegated in.

If we could hit 200 HP in curation rewards each week, we could mint 100 EDS per week and send 200 HIVE per week to EDS. Currently EDS mints more tokens than it powers up in HIVE and because EDS tokens are backed with 1 HIVE each, the projects APY takes a small hit each week.

Long term, as the HP balance increases, the earnings will overtake the amount of EDS tokens being minted and needing to be backed. This is because the amount of EDS being minted each week is mostly a set number. EDS miners are set to mint 296 EDS per week for the next 20 years, this is the bulk of EDS mintage. Our HIVE POWER balance has no limit to growth.

My point is, that EDS currently "loses" 100-120 HP per week. This means 100-120 more EDS are minted than HP growth to the wallet. This week we minted 363 EDS and brought in 489 HIVE. After we pay the income payment for 246 HIVE, we have 243 HIVE which is 119 short of 363 EDS. If we can hit @eds-vote curation rewards of 200 HP per week, we can pretty much get to a 0% decline on the EDS APY and after a few months I'd guess, the EDS APY would start to increase which is mindblowing. It feels so close. It's not but it feels like it is.

Anyways, super great week folks!!

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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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Looking very good, like the HBD savings idea, too.

Thanks for delegating!

!PIZZA

when will we see that spi delegation land? 2024?

!PIZZA

@dkidfit, sorry! You need more to stake more $PIZZA to use this command.

The minimum requirement is 20.0 PIZZA staked.

More $PIZZA is available from Hive-Engine or Tribaldex

Nice. As I said, a surprise. My holiday is coming soon. You know what is next...

great stuff as always
pretty cool that u calced what we need to reverse the EDS APY
TBH 30k more doesnt sound that much
hope we can hit that for year end

Appreciate the update! Still learning how the whole system works; have a feeling I will be making EDS one of my focus projects for 2024!

=^..^=

I'm trying to get this, are you saying if I don't have 100k HP to delegate, I can just buy 100 EDS and I'll be fine and eligible for upvote?

great report

!CTP

!PIZZA
!LOLZ

!PGM

!DHEDGE

Sent 0.1 PGM - 0.1 LVL- 1 STARBITS - 0.05 DEC - 1 SBT - 0.1 THG - 0.000001 SQM - 0.1 BUDS - 0.01 WOO - 0.005 SCRAP tokens

remaining commands 1

BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!

The tokens that the command sends are: 0.1 PGM-0.1 LVL-0.1 THGAMING-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]

5000 PGM IN STAKE = 2x rewards!

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Discord image.png

Support the curation account @ pgm-curator with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP

Get potential votes from @ pgm-curator by paying in PGM, here is a guide

I'm a bot, if you want a hand ask @ zottone444


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

- @dhedge.bonus
- @dhedge.leo
- @dhedge.ctp

@ericburgoyne has 1 vote calls left today.

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.

PIZZA!

$PIZZA slices delivered:
@dkid14(4/20) tipped @shanibeer
ericburgoyne tipped eddie-earner

Looks like we landed another big delegation. Nice!!!