Hello EDSers, Recently, we have been talking about making an amendment to the EDSI model to ensure EDSI continues to be sustainable long term. There was lot of great feedback given, and based on what I've seen, most are supportive that we take action.
Please share this post to get it into as many feeds as possible
The EDSI token is a HIVE income pool that pays out a HIVE income each Monday. The income pool is set to be equal to 12% of the @eddie-earner HIVE POWER. I picked this percentage because it used to be easy to earn over 12% with HP through delegations. For the first 3 years, we earned around 18% from HP, meaning 6% was being saved/compounded, increasing the HP balance further. This model worked back then.
Fast forward to today, and the opportunities to earn from HP are fewer with curation sadly being the best option. Curation APY is 8-9%, and we get 3% for holding HP, so today we earn 11-12% with HP. The issue is we still pay out 12% which long term will not be sustainable.
After reading through comments and chatting with a few people on Discord, it was easy to see that nearly everyone agreed that reducing the Income Pool percentage is the only way forward for EDSI to continue to build a sustainable long term project.
Below are 4 options. The first 3 offer percentages to change to the income pool to and the last is if you hate Eddie and want him to die slowly. Your vote is your vote, im not trying to say dont vote on option 4. Up to you, but I will lastly say...
We used to earn 18% from HP, and now we earn 12%. Thats a 34% reduction in income 🤯
| Option | Income Pool % | Income Pool Reduction |
|---|---|---|
| 1 | 8% | 34% Reduction |
| 2 | 9% | 25% Reduction |
| 3 | 10% | 17% Reduction |
| 4 | 12% | 0% Reduction |
Everyone holding over 100 EDSI tokens is encouraged to take part and vote on what they think is the best option. Please see the voting weights below.
| EDSI tokens | Vote Power |
|---|---|
| 100-499 | 1 |
| 500-999 | 2 |
| 1000-2499 | 3 |
| 2500+ | 4 |
Using the comments below, simply post your selection and EDSI balance
eg
I vote for option 1.
Voting will last for 2 Weeks ending on April 9th
After a new percentage is voted as the winner, we will need to reduce the income pool percentage accordingly. We have 2 further options for this, but we're not going to vote on this because i've already made my mind up. Nevertheless, here they are.
1/ Drop the Income Pool APY directly from 12% down to whatever wins, reducing the income pool and dropping the EDSI APY down by roughly 2-4% in 1 week.
2/ Put a lock on the Income Pool HIVE amount until the pool catches up to it. This will reduce the EDSI APY by the same 3% but over a few months instead of in 1 week.
So option 2 is best for us (i think), and after the voting finishes and a winner is picked, this will be the plan we'll be rolling with. With option 1, the income pool would drop 3% in 1 week and then start to increase again. With option 2, the income pool would remain the same for 1-2 months and then start to increase. I think option 2 is best for us because it results in no actual reduction of the income pool HIVE amount, the EDSI APY drops because 500 new tokens are minted each week.
When it's all said and done and we have a new percentage set for the Income Pool, we're back to the grind as normal.
I was asked if the EDSI Flipping will happen any faster by reducing the income pool percentage and to be honest, no, it'll be about the same because the reduction in our HP earnings will be higher than our reduction to the income pool. The flippening is only sped up if eds-vote, EDSD or content rewards bring in more HIVE.
When it's all done, I will run a few simulations through the spreadsheets and give projections, and this will give better indicators of when the EDSI flip will happen
QuoteEDSI FLIP
When the EDSI APY flips from declining each week to increasing each week
Thank you for taking the time to read through the post. Voting will last for 2 weeks, and then I will upload a results post.
Getting Rich Slowly from June 2019
| Token Name | Main Account | Link to hive-engine |
|---|---|---|
| SPI token | @spinvest | SPI |
| LBI token | @lbi-token | LBI |
| Top XV token | @spinvest | XV |
| Eddie Earners | @eddie-earner | EDSI |
| EDS miners | @eddie-earner | EDSM |
| EDS mini miners | @eddie-earner | EDSMM |
| EDS-vote | @eds-vote | n/a |
| EDS DOLLAR | @eds-d | EDSD |
| DAB token | @dailydab | DAB |
| DBOND token | @dailydab | DBOND |
| RUG token | @rugem | RUG |
Stay up to date with investments, and fund stats and find out more about SPinvest in our discord server
Holy Crap, I went to bed after uploading and waking up to see 28 comments!! 😮
Massive thank you to everyone voting so quickly, there are around 115 accounts that have over 100 EDSI that can vote so over 20% have already voted, we're off to an excellent start!!
LBI will abstain from the vote, we retain our neutral position and it's not really worth running a vote of our members to decide how to vote.
Letting you know I've seen the post and am thrilled to see how engaged the EDSI token holders are.
Ok, cool, makes sense.
Yea man, i was surprised to see how many people voted quickly. I guess Shanibeers Saturday Savers club is active and makes up a bunch of people.
I approve of the neutrality as an LBI holder, and proxy all my EDSI votes to LBI's neutral vote.
ecoinstant 100 - proxy to @lbi-token
No worries
I vote for option 2 470 EDSI
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I vote 1 (to mix it up) - 2894 EDSI
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1
2728 EDSI
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I vote for option 2
206 EDSI
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I vote for option 2, 100 EDSI
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I vote for option 3. 928 EDSI (1058 EDS) 😁
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I vote for option 2
563.923 EDSI
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I'll vote for option 2 (with 161 EDSI)
But what I'd really rather say is to vote for 3% under current % earnings.
Also... just as a thought. If the HP & curation are earning 12% right now, would it be worth DCA'ing a part of the pool into HBD ? Not by powering down, but by putting some of the HP earnings into it. The interest earned is 15%, so converting just the interest to HIVE and putting that back into the pool would give a small but noticeable increase to the earning %. By only converting it when the price of HIVE is lower than the average cost of acquisition it could boost the earnings quite a bit more.
But I admit the idea does come with some problems to consider; slightly increased risk if the HIVE price rise outstrips the AVCO, the issue that income would be in irregular lump sums rather than smooth steady earnings, and that it would need to be managed manually.
I'm always in favour of keep it simple,set and forget. This would involve a time investment to manage, which could be used to better advantage elsewhere.
Pretty much what Shanibeer has said is right. Simple is best.
FYI, we keep the HBD we earn from content rewards. Its currently used as a float for EDSD but it could be saved one day with interest converted to HIVE. We have around 600 HBD i think.
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Option no.1
109 EDSI
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Vote 2 (169 edsi)
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If you say option 2 is best, that's good enough for me. I vote for option 2. 395.328 EDSI
hmm, I said option 2 was best for how we will implement reducing the percentage after a winner is voted. 😕
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I vote option 2. 700 EDSi
Also vote option 2 for dkidfit account with 3000 edsi
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10 4 that
Option 2
2,544 EDSI
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Vote 2 (323 edsi)
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you welcome, let's help edsi recover 🙏
Option 3 just to be different
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Thanks for the transparency. I vote for option 2.
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I vote for option 2.
827 EDSI.
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I vote 3 , 104 EDSI
I think 10% still attractive (double digits), and that number is still feasible
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Thank you for the heads up, I think option 2 is reasonable. I have 115 EDSI.
Thanks for everything team.
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I vote option 2
188 EDSI
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I would say option 3 is the most reasonable (473 EDSI)
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I vote for Option 2 (204.667)
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Option 1, keeping on getting rich slowly
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I vote for Option 3 (100 EDSI)
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I vote for option 1 with 210 EDSI
I think an harder cut now will give us more options later.
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I vote for option 2.
470 EDSI
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I vote on 2 with 1 VP.
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Option 2
259 EDSI
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Option 3 with 1002 edsi.
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I vote for option 1 with 196 EDS :)
Thank you guys!
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Vote 2 (141)
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Voting for option 1, 1250 EDSI
In doing so we go back to a somewhat similar distribution with 12/18 from before and prevents another need for adjustment in the near future should the HP earning opportunities decline again
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Option 2 - 100 EDSI
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Hello friend!
I have not read this post! And I won't until my demands are met! I have given you a friendly poke to see if you'll give me feedback on my prop339! I will remove the d-vote, of course either way, not trying to hurt anybodys curation.
btw,
fuck offis feedback! just say something to me!had to add some juice, since peakd hides low dvs. By the way, I suggested this to @asgarth in 2022 - what a cool memory!
I've read it but it's over my head. I kinda understand it but im not a techy guy, I deffo have no idea would setting up such a thing would cost to create either.
Plus, I dont vote on proposals with accounts under SPinvest cause not my HP.
Great Feedback! Here is a simple version: https://peakd.com/hive-186392/@ecoinstant/explain-it-to-me-simpler-part-1 And here is a specific delivery list, broken down into tasks: https://peakd.com/hive-186392/@ecoinstant/our-champion-modules-be-specific-part-2
does it make it easier? These were the top two feedbacks I got in the last week!
Are you generally "not voting for any DHF"? thats a valid position! perhaps makes me want the feedback even more!
Or do you ask the members in a post similar to this voting style you did today for EDS? The DHF viewer tool I built - https://dhf.thecrazygm.com shows me only accounts that vote for at least one proposal. Can I ask which proposal you are voting for with the "not your HP"?
It's the return proposal.
Generally, with the exception of things like the hostile takeover, eddie-earner and other SPI accounts abstain from Hive governance votes.
Posts like this asking account holders to vote are for decisions specific to that token or project.
I can include the Mithral proposal in the Saturdays Savers Club post to share with members.
I do appreciate the sharing of course. thank you.
I did suspect it was the return proposal, and that validates a consistent strategy!
I've locked myself into a very short feedback countdown window, sure, but also don't forget that I do a podcast series that started with a mission to "demystify" the DHF 😉
Best 10 HBD I ever spent, in many ways, but I can have almost no regard for what anyone else is doing in this moment. Interesting! Thank you always.
Seems like a community token governance system is a low hanging fruit for a module.
I vote for option 3 (501 EDSI) :)
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Unfortunately when I first read this my holding was only 50 so I could not vote. Perhaps it would have been better to give smaller holders some sort of input. In any case any adjustments do not fit in with my long term investment strategy and it seems most votes head that way.
Thank you for the ride these past few months. As you can see I had been building my holding incrementally. I appreciate the opportunity to invest and wish you all luck in the future. Unfortunately, the specter of an adjustment, plus the failure in this past Monday’s payment, have made it hard for me to continue. I have, as the pundits say, voted with my feet.
🏃♀
I vote for option 2, and I have a balance of 224.361 EDSI.
I'll also go put this up in News in my Friday newsletter -- that will come out April 4, so, a few more eyes may see it.
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You're welcome!
Option 1
EDSI 120
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Greetings friend, arriving a little late but arriving.
if you think the best option is number two I follow you.
I vote for option number 2
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I vote option 2!
Just over 100EDSI, slowly inreasing.
Thans for allowing my input, but, you have to what's best for the project so it can stay around.
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I vote for option 2. 102 EDSI. 🦄🦄❤️❤️
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I vote for option 1!! 101 tokens
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5182 edsi here
i'd like to vote on 3, but looks like 2 will win
so my vote is for 2 🤣
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Option 2
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You image thinks hive is ethereum in web3
Oh no, a blockchain comparison? Quick, call the Web3 police! 🤡
I vote for option 2 - 5,182 EDSI
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Voting for option 1 (personal stake: 728 EDSI, and by proxy of hive-140084 ~134 EDSI)
Now, I do actually have an additional offer regarding delegating to another project, and I've been talking to the owner (@powerpaul) about this to assure that liquidity will be available.
CryptoCompany is the project, and due to its recent improvements in services, its CCD token has risen in price considerably. Top delegators receive 16% APR based on a CCD price of 0.001 HIVE, so you can expect a realvery attentive to running things correctly, so any errors would be diligently corrected. return of at least 12% APR consistently (current market price is 0.00075 HIVE, with a guaranteed buy wall), provided you delegate a maximum of 50,000 HP to @ccceo.invest. I'm expecting the price to rise over time due to the undiscovered value of the service. Also, the owner is
If market price increases, the APR will turn out higher than 12%.
I'll also mention that if you're willing to use their CCD burning mechanism (I can give you a link), the ROI skyrockets (i.e. if you're delegating >7000 HP, you'll burn 300 CCD (about 0.225 HIVE) for a total vote of $>1. You can tell this ROI is tremendous. So while this incurs a delay of several days in rewards, it will make the delegation extremely profitable.
Understanding the concept of EDS model, you don't keep any 2nd layer tokens, but burning the tokens should still be ok, I hope!
What do you think?
@eddie-earner I think you should strongly consider this option! 👆 This is essentially a guaranteed 12% APR with significant potential to be even higher.
I'll maybe skip it cause of all the drama atm buddy.