EDSvote update #28 | Degen Delegates 30k HP = @eds-voting Killing It.

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 #28

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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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Massive boost this week with a huge 30k delegation coming in. This will be a short-term delegation for a few weeks so we'll take advantage.

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The result of getting a huge new delegation is the APY drops like a stone. This can be seen on week 16 above. This is because curation rewards (APY) are paid out after 7 days so we are working 1 week behind. Our curation rewards this week if worked out against the amount of HP being delegated in last week would give a more accurate APY number but i cant remember yesterday, never mind last week, haha. To get the most accurate number, it would need to be been daily.

Anywasy, the APY this week is 6.16%. On the flipside, if we were to lose a big delegation, the APY would moon. See week 21 in the below chart.

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HP earning increased this week because last week we got a boost from 87k to 104k in incoming delegations (turns out, i do remember the numbers, lol). This has resulted in us earning 157 HP this week which is perfect and means we can sustain a 150 HIVE a week powerdown.

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When we earn more HP, we mint more EDS and this week, we minted 78.82 which is a great result and higher than its been for 7 weeks. Next week will be bigger again and we might even hit triple digits. The most EDS eds-vote has minted in 1 week is 97.50 so getting over that 100 mark if even only for a few weeks would be nice.

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Round-Up

It's been a great week. The voting power is holding up nicely and I seem to have found the sweet stop where it floats between 94 and 98%. I have considered increasing some of the autovotes because I know this big 30k delegation is not long term so maybe draining the VP a little to earn more from it would make sense short term.

We are currently doing 100 HIVE-a-week power-downs from eds-vote to @eddie-earner but we'll soon be able to put that to 150 HIVE a week. We need to powerdown 1950 HP to get 150 HIVE a week and our wallet currently has 1822. It will take 3 weeks to get there because we are currently earning just over 150 HP per week and powering down 100 per week so the HP balance increases by around 50 HP a week if that all makes sense.

Im looking forward to next weeks report to see what HP we can earn and how many EDS we can mint. Thank you everyone that is involved for the support.

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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.

i

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niceee!
ATH on delegations! even if its for some weeks, it will still boost the HP on EDS
hope we can find some juicy long term supporter to put us on 200k
time will tell ^^

Good to see that delegation even if only short term!