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.
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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 |
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