EDSers, it's been a while. How's it hanging wit ya? Good? Aye? Lets get an update done
In this update, we're going to go over the total EDSI ecosystem. It's a long one so grab a drink and get comfy.
1 - EDSI tokens
2 - EDSI Miners
3 - EDS-vote
4 - EDS-D
5 - Round-up and Future
If you have any questions, they might be answered in the post linked below.
Complete EDS ecosystem explained - CLICK HERE
All Charts are 5 Years | Each Line Represents 1 Week.
1/ EDSI Tokens
Things have been going as planned as always since the last update. Nothing shocking are crazy has happened. We are getting closer to the flip, with current APY dropping by only 0.01% a week, meaning we are about as close as we can be. Ok, lets start with EDSI mintage.
We're still consistently minting between 570-620 EDSI tokens per week. Breakdown of that would be roughly 300 to EDS miners, 250-280 to eds-vote delegators, and 30 to EDSD holders.
The total circulating EDSI is currently 129,936.73, so still a long way to go to get to our hardcap of 500k 馃槄. About 15 years away until the last EDS miners mint, more about that below.
Since the last update, we have been powering up around 700-800 HP per week. The amount we power up each week slowly grows over time as our HP balance compounds and rewards from side projects like eds-vote and edsd have increased.
The total current HP balance is 184,139.80 so not too shabby. We should close over 200,000 HP in roughly 4-5 months from now.
The HIVE income pool chart shows a lot of EDSI history. Between 1-2, we are selling EDSM tokens, and the income pool/EDSI APY is mooning. Between 2 and 3, EDSI is not selling tokens, and we were running on autopilot, just compounding our HP balance. This is when we created eds-vote and eds-d. At 3, we froze the income pool at 335 HIVE and put out a vote post about reducing the EDSI APY as curation and leasing rewards were dropping. At 4, we dropped the EDSI income pool from being worth 12% of the EDSI HP balance down to 9%. From 5 until today, we're back on autopilot. This week's income pool is 317.61 HIVE. It's been increasing by around 1 HIVE per week and still after 5 years, it increases each week (part from planned/voted in change from 12% down to 9%), never had a declining week, as the HP balance is ever-increasing.
Damn, thats a pretty bad-looking chart, the EDSI APY has been dropping each week for over 4 years now, lol. I love it because it's still the highest-paying HIVE income token on HIVE. 4 years of weekly declines and still #1 baby 馃お
Anyone involved with EDSI for a long time will know this is all part of the plan, and we are getting closer to our goal of flipping the EDSI APY from dropping each week to increasing each week. Infact, we cant get any closer with the APY dropping by only 0.01% a week for the past month are so. The EDSI APY this week is 12.75%. I still cant call the bottom, but I can't see us dropping to under 12%.
I expect the APY to continue to drop by 0.01% a week for the next month or so and then drop to 0.00%. It will stay locked at 0.00% and the EDSI APY will freeze for 4-6 months and then it'll flip to plus 0.01% a week, stay there for 2-3 months, then increase to plus 0.02% a week, stay there for a month, increase to 0.03%, stay there 2 weeks, increase to 0.04%, you get the idea, it'll get faster. As the APY decline slowed up, the increase will speed up.
Will be interesting to see how demand is for EDSI when the APY is increasing each week. Maybe the same as it already is, lol. Dont sleep on EDSI, they already pay out a higher yield than curating HP, with no powerdown and liquid HIVE income payment each Monday.
I've never shown this chart before. This is the EDSI deficit chart that tells me if EDSI is profitable or not. There is 1 important thing to know. There are around 130,000 EDSI circulating, each backed by 1 HIVE. The eddie-earner account holds 184,000 HP, giving the project an excess of 54,000 unallocated HP.
Each week, EDSI..
1/ Earns an amount of HIVE/HP,
2/ Pays out the HIVE Income Pool
3/ Mints EDSI tokens
For the first 4ish years (between 1-2), the amount of HIVE/HP we earned each week from leasing, curation and content was not enough to cover both the income pool and the amount of EDSI tokens minted. This ate into the excess HP balance each week, and you can see above the project lost close to 15,000 HIVE between numbers 1 and 2.
At 2, we launched esd-vote and eds-d and you can see that we started to go profitable but 2/3rds between 2 and 3, we locked the income pool, curation rewards dropped and we went back to being non-profitable and dropped to nearly -18,000 HIVE by the tiem we arrived at 3.
At 3, we changed the EDSI model APY from 12% down to 9% and pretty much instantly went profitable, currently sitting at -10,500 HIVE and reclaiming 150-200 HIVE per week.
Basically, EDSI token mintage has been steady at around 600 a week for the past 3 years since we sold our last EDS miner token. The HP balance has been compounding and growing. Same EDSI mintage vs higher HIVE/HP rewards from compounding = profit squared.
On top of this, we hold 9,265 HP in eds-vote and 614 HBD worth 11,800 HIVE. Thats an extra 21,100 on top of the 184,000 HP balance 馃コ . I dont include this HP or HBD because it's not in the eddie-earner HP balance, but it's there.
To wrap up, EDSI as a whole is now profitable. Things are going pretty well, and I can not wait until the EDSI APY weekly decline drops to 0.00%, we've been waiting, been planning this moment for years. 2027 will be our year when the flip happens, im 99.2% certain.
2/ EDS-miners
Both EDSM and EDSMM are running as they always and have many years left of mining each. If I remember correctly, each miner rewards 20% of its cost in EDSI each year for 20 years, so 1 EDSMM cost 1 HIVE and yields 4 EDSI tokens over 20 years and 1 EDSM cost 10 HIVE and yields 40 EDSI over the same time.
- 2500 EDSM tokens mint 13.68 EDSI per day and will continue to mint for another 14.4 years.
- 50,000 EDSMM tokens mint 27.36 EDSI per day and will continue to mint for another 15.6 years.
- EDS miners have minted around 76,000 EDSI to date.
In a few years, when the EDSI APY is increasing and there are still 10 years on these things, people might be able to resell these for more than they paid for them. I mean, in 5 years, each EDMM will still have 2 EDSI to mint and each EDSM can still mint 20 EDSI.
To wrap up, EDS miners are running perfectly on auto through tribal dex. They are our biggest overhead and probally always will be, but selling them gave the HP balance a fantastic boost and let us compound into profitability.
3/ Eds-vote
If you delegate HP to eds-vote and you are not getting an upvote, I dont care. I only care that you are getting EDSI rewards. If you are not getting upvotes, eds-vote is not broken. You're not supposed to get upvotes; you're supposed to get EDSI tokens.
I notice alot of people reset thier delegations to exactly the amounts of 1000 and 2500 HP so over the past 18-24 months, I've been increasing voting power allocation to the OCD curation trail, starting at 5% and currently sitting at 15%.
With that said, eds-vote is a decent size and mints alot of EDSI each week, around 280 per week. Because we issued EDSI rewards from week 1, we ran it at a loss the first 13 weeks meaning when we wrap it up, we'll have a full 13-week powerdown without having to mint EDSI.
The account earns roughly 560 HP a week and has a balance of 9265 HP. The account is on a never-ending powerdown, currently 600 HIVE per week. This cash flow pays weekly income payments and lets us operate without having to ever powerdown from the main eddie-earner account.
To date, eds-vote has minted roughly 33,000 EDSI tokens. With an allocation of 120,000 tokens, based on current numbers being minted, at the current rate, eds-vote has 6 years left before it needs to be wrapped.
Massive shout-out and thank you to anyone delegating over 3000 HP. You're a real one!
4/ EDSD
It's been a rollercoaster with this one. 14,703 EDSD's created, 13,044 (88%) bought back, and only 1659 remaining. Understandable, as the APY for HBD has halved and people have either cashed out or converted HBD back into HIVE.
Around 6-8 months ago I started to stop converting HBD rewards into HIVE and just added them as HBD to the Eddie-Earner savings account. We currently have 614 HBD worth 11,800 HIVE. About 80% of that HBD is from years of content rewards, but yeah, I'm no longer converting the HBD rewards into HIVE. We earn enough HIVE/HP so that we dont miss this, and if HIVE ever drops to $0.03ish again, we can give the eddie-earner HP balance/income pool/EDSI APY (as they are all connected) a nice boost.
EDSD currently mints around 30 EDSI per year; its allocation of 60,000 EDSI is enough for about 40 years. We might top up the eds-vote allocation by 50,000 or find another way to mint 50k EDSI.
To wrap up, EDSD is running as it should. Send your HBD to eds-d on HIVE, receive EDSD on HE and earn EDSI each week based on HBD rewards, then send your EDSD back to eds-d to reclaim your HBD back when your done, no entry or exit fees. We made it too easy to exit, that's the problem, lol.
5/ Wrap Up and Future Plans
As always, everything is going perfectly to plan. I've been saying the same stuff for the past 6ish years since EDSI was launched, and because EDSI is 100% HIVE-based with almost fixed incomes, it's been easy to predict its growth. As long as we stick to the plan and the project model, we cant go wrong, and EDSI will be paying out ever-increasing HIVE income payments for a very long time.
As for the future
Short-term - Keep everything running as is and watch the EDS APY decline like a hawk waiting for it to drop to 0.00%.
Mid-term - Wait months for the EDSI APY to increase by 0.01% and then confirm to everyone the flip has happened, and we are on easy street. After a few years, the EDSI APY will compound and start to snowball. It might increase by 0.5% in the 1st year after the flip, then by 2% in the 2nd year, then 5% in the 3rd and so on, increasing faster as time passes.
Long term - Eds-vote, EDSD are wrapped up, EDS miners run out of allocation and stop minting. We'll have 500,000 EDSI circulating and close to 1 million HP in the account, serving a HIVE income of 18% APY for token holders. EDSI tokens remain at 500,000, and the HP balance compounds at around 3% per year.
Thank you for taking the time to check out this EDSI report!
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 |
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