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 #1
Let's have a look at the numbers in chart form as this is the best way to see performance and predict the future.
Another week of growth as we now have over 300k HP being delegated in. I thought things were going to slow down but it seems our growth per week is staying around the 5k park per week. Been just over a year old, i'd say we're smashing it, even with SPI's 100k delegation, we're still over 200k HP.
The account earned a high APY this week at 9.07%, this was higher than I'd have thought because the delegations keep coming in and the APY is based on rewards from last week's curation against this week's HP balance. The voting power of the account has been getting hit a little harder as lots of upvote whores are now delegating to get an upvote. I've had to reduce voting %'s across the board to get the VP back to 90%. I welcome these whores to sell their EDS and get EDS back to peg! (low key, I wanna buy more 🤣)
Oh yes, look at that! We've earned over 500 HP from curation rewards in a week for the first time. As with the APY, this is higher than I'd have guessed. We earned 517.30 HP which is amazing but it should have been closer to (300k * 0.08 /52.18) 460 HP. Not complaining but it's annoying to not understand why. Might have been a long week.
Not sure if we'll do over 500 HIVE again next week, i hope we can but we'll see.
Lots of HP earnings means lots of EDS minted and shipped to @eds-vote delegators. This account is turning out to be way better than I'd have ever thought for EDS distribution.
EDS miners were created to be EDS's main form of token distribution. They mint 300 EDS per week and @eds-vote is fighting to take that top spot. This week @eds-vote did 258.65 EDS, only 40 short of EDS miners. I think I'd projected for EDS to do 100 EDS a week best case around 6 months back.
Round Up
We're just killing it. We're earning lots from curation, minting lots of HIVE-backed EDS tokens and powering a bunch up to @eddie-earner to increase the HIVE income pool for EDS token holders.
Ohh, I almost forgot. I started a new powerdown this week and have increased it from 200 HIVE to 300 HIVE per week. Thats an extra 100 HIVE to be transferred and powered up to @eddie-earner.
Thanks for the continued support!
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.