Hello SPiers, today we talk about SPI sub-projects and what else we can release under SPI in the future.
SPinvest launched in June 2019 with its flagship token SPI. We sold out in around 9 months, moved over from STEEM to HIVE, and started to get to work on building up some sub-projects under SPI that feed into SPI. We've released a bunch of small things under SPI like SPI beneficiaries, SPI royalty members, spi lotto, etc but today we only look into token projects.
EDS token
Our first token project was EDS from the @eddie-earner account. This was launched in September 2020. SPI was created to be the first proper investment growth token so EDS was created as an income token, the 1st proper HIVE income token to the best of my knowledge. The USP for EDS is that each token is backed and pegged to HIVE and it is an inflation-beating HIVE income token.
The model for EDS is very simple. It's 100% HIVE so everything it receives is converted to HIVE and powered up. The income pool is equal to 12% of its HP balance and because this compounds and grows, the income pool increases every week. Currently, there are 47k EDS tokens in circulation and 107k HP in its account. 12% of 107k HP equals a 28% APY to the 47k EDS tokens out there.
SPI owns the @eddie-earner account. There is 107k HP and 47k EDS tokens. Each token backed to 1 HIVE so 47k HIVE. The remaining 60k HP belongs to SPI but is used by EDS. As more EDS tokens are minted, SPI loses 100-150 of this 60k HP each week to back them. Long term, this will reverse SPI's HP balance within EDS will increase each week but again, EDS is using and the only SPI will touch that HP will be if EDS is wrapped which is not part of the plan. EDS is too easy to run and gets alot of support.
XV token
We released XV tokens around 8-9 months ago and held a 10-week presale that ended 6 months ago. XV token is a 2-year project that will end in June 2025.
XV token is an index token. It contains 15 cryptos picked from the top 50 ranked on coingecko. The basket is weighted to give higher allocations to higher-ranked crypto and is rebalanced periodically.
The idea is the buy into top-ranked cryptos when they are cheap, hold them for 2 years and hope that their prices will have increased by 2025. I picked to cash out in June because BTC and top-ranked crypto lead the bullrun with lower-ranked cryptos (HIVE) catching up later. We cash out when our basket is fingers crossed mooning and convert it into HIVE which will have joined the bullrun but not done its 5x move yet. Last cycle BTC hit $60k in June 21 when HIVE was 35 cent. Fast forward 6 months to Nov 21 and HIVE was trading at over $2 most of the month while BTC traded at $60k.
We are 25% done with 18 months left to go. SPI will take 5% of the basket as a cash-out fee but to be honest it'll not be that much HIVE. This was something I'd been planning since 2020. The reason I waited until 2023 to launch this is because it's a bear market project so its release was very important.
Being a timed project with an end date gives everyone including SPI an exit and after 2 years, I will have experience in running a small rebalanced index token that could used for a more serious subsibary project.
DAB token
This project is co-operated with BROfund 50/50. It is a daily DRIP token that pays out daily HIVE to token holders. It is a little bit like EDS but not the same.
There was no DAB token presale and none have ever been sold. People get DAB tokens by minting them from staking DBOND tokens. DBOND tokens are backed and pegged to 1 HIVE each and we've 100k of them so far.
For SPI, this will be more lucrative than EDS but for the first year are so, it needs to be built up. Watch this space.
Whats next?
nothing......
No plans to release anything anytime soon. I always have ideas but to be honest, who's buying? The same people over and over. Dont get me wrong, I love the support but who wants another investment-style token released by SSUK SPI? We have 8 active tokens over 5 projects in total already. Quality over quantity they say.
This does not mean that new tokens will be created under EDS and DAB but no new projects. We still need to continue to grow out of what we have already.
When the time comes we're good to release another project, it'll most likely be a gamified multi-token stock index but we're talking 18-24 months away and my mind can change a hundred times between now and then. We can't even know what the state of crypto will be in 18 months from now. Defi, gaming and NFTs could be booming again, lots of new crypto tools released and maybe even some form of regulation within the space.
There are so many projects that could be released by us but we need fresh blood to the blockchain.
Round up
We're just over 4 years old and we have 4 projects currently under management. It would be cool to keep up with the 1 project per year but that would not be feasible long term. I feel happy with what we have to date. SPI for growth, EDS for income, XV for an index punt and DAB as a gamified HIVE drip. I feel we're doing ok.
SPI is doing its thing. We're pretty much just waiting for next bull market at this point.
EDS is still expanding. Right now, we're pushing @eds-vote and it is doing amazingly. Another token will be released soon and fingers crossed will have the same impact are greater than eds-vote. The main target im working toward is increasing its income to surpass the amount of EDS minted and flip the EDS APY from declining to increasing.
XV is also ticking along nicely. It'll be 18 more months before any real actions are required here. Between now and then, I will continue to upload weekly updates.
DAB is still new and it could go a hundred different ways but I do see this account with a 500k HP balance within the next few years. I dont really wanna say what ideas I have because when you put an idea out there, people expect it to happen. What I will say is there will be many tokens released under DAB.
Thanks for taking the time to check out SPI sub projects, let me know what you think you think of them or give some feedback if your invested into any.
| 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 | EDS |
| EDS mini miners | @eddie-earner | EDSM |
| EDS micro miners | @eddie-earner | EDSMM |
| CUBlife | @lbi-token | CL |
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