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
Report #6
Let's have a look at the numbers in chart form as this is the best way to see performance and predict the future.
We hit all-time high incoming delegations this week which is amazing. This should help us to earn extra from curation and mint more EDS. The end-of-year target is still 100k incoming HIVE POWER and i will continue to release this weekly updates to hopefully get as many eyes on this as possible in the hope of hitting that target.
This week is a small dip from last week and was expected after I changed the autovotes to be smaller but include more people. When adding people to the auto voter, im not aware of who posts are how often so its a bit of a balancing act to get it right. We'll get there and soon hit our target of 8% curation.
We earned 74.07 HIVE from curation which is around about what we should be getting for 53k HP. This will increase but we're doing ok.
37 EDS token were minted this week through EDSvote. This will be around 1900 EDS tokens per year but as we receive more HP delegations, this will increase. With 180k EDS allocated for EDSvote, there are about 4.860 weeks of rewards left, 93 years. I think we have enough 😁
Round Up
Really happy to see more HP be delegated into EDSvote, every little helps. I understand the advertised APY of 4% is not great and I am very grateful for these that do delegate HP and help with the project. When working out the APY, i base EDS being valued at 1 HIVE but it is currently selling for 1.35 so that 4% if cashed out weekly is more like 5.4%.
On top of that, we give upvotes to people that have over 1000 HP equal to $0.78 so if you post daily, thats an extra $2.73 per week after a 50% payout split. This is roughly 8 HIVE per week or 418 HIVE per year. If you delegate 1000 HP, you're getting 418 HP back a year in upvotes, if you post daily. Even if you post 180 days in a year, that is over 200 HIVE per year and a 20% ROI on your delegated HP before we factor in EDS rewards.
MIND BLOWN? Dont let the 4% put you off cause thats your EDS reward. If you post content, you can earn much more.
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.