HBD Backed EDS tokens | EDSD Weekly Updates and Charts #018

25 days ago

Hello and welcome to this weeks EDSD post.

What are EDSD tokens?

EDSD @eds-d are the last to be released token from @eddie-earner because now all 500k EDS are allocated. Some will be aware that I have been itching to release an HBD-backed token for EDS for a long time but I could never think of a good model. I was thinking how can EDSD compete with the 20% APY being offered for saving HBD currently? This was the wrong way of thinking, let me explain.

I am aware that there is a demand for EDS tokens because they have a small mintage and pay out a handsome HIVE income equal to over 25% APY. We seen from @eds-vote that investors were happy to split rewards and receive 50% of the curation rewards as EDS with the other 50% being powered up to @eddie-earner which increases the EDS HIVE income pool. Win/win. EDSD is based on this model.

EDSD tokens are equal to a HBD Bond that you buy, hold a long time, get a yield and when you want your HBD back, you convert your EDSD back into HBD. All HBD collected from issuing EDSD is added to the @eds-d saving wallet. 100% of the interest earned is converted to HIVE with 50% used to mint and issue EDS at the value of 1 HIVE each to EDSD token holders and the remaining 50% being powered up to @eddie-earner. Basically, 100% is powered up and we issue EDS rewards on half the amount powered up.

After you exit, assuming you stacked your EDS, you will have an HIVE income for life or at least as long as mine, (38). The longer and more EDSD you hold, the more EDS you will get and the higher your HIVE income will be. Pretty simple, buy it and forget about it. EDSD will not last forever as they have a set amount of EDS allocated to them and when the allocation is done, EDSD will either wrap up or introduce another reward. We're talking a few years, not a few months.

For full information about EDSD and FAQ's, please click below

Week 18s Update

Get ready to embark on another rollercoaster ride through the wild and wonderful world of EDSD with our Weekly Report. This edition is juicier than a pineapple at a tropical crypto party, price shenanigans, and tech breakthroughs that even Elon would raise an eyebrow at. Let's get into it.

We've grown to over 6000 HBD this week so high 5 to everyone! The growth of this project has been much more consistent than I what have guessed. At this rate and on week 18, we have a chance to finish the year with a 10k wallet earning some nice interest each month and minting a bunch of EDS.

Our HBD interest payment continues to grow each week alongside our HBD balance and with HIVE being under 32 HIVE, it's converting into more HIVE. More HBD is good but being able to convert it into more HIVE is even better because 50% of that HIVE is used to mint new EDS.

The account received its monthly HBD interest payment today which was for 94 HBD. Next month we should climb to higher than 100 which is a cool benchmark to crossover. EDSD uses the HBD wallet of @eds-holdings as a kitty to process its weekly HBD to HIVE conventions. I funded this account with 500 HBD kitty earned from nearly 3 years of content rewards and the the interest earned from @eds-d is withdrawn and transferred to @eds-holdings to top up the balance back to 500. Using 2 accounts and having a kitty works well and keeps the transactions on @eds-d minimal which makes it easier for investors to audit/keep me honest 😎 using peakd's transaction filters.

The amount of EDS tokens we are minting from EDSD is increasing each week and we've now had 4 weeks in a row at over 30 EDS. If we can ever push EDSD to mint 50 a week, I'd consider this project a total success. 50 might not sound like alot but we'd need to have around 10k HBD in the wallet to achieve this at current prices.

It's not easy to separate people from HBD because it can earn 20% as HBD per year. The offer to earn half of that (10%) as EDS tokens from an outsider's POV seems like a rip-off but those that understand EDS is backed & pegged to 1 HIVE each understand that HIVE is 30 cents right now and in 18 months, it's very likely to be over $1 while HBD will always $1.

EDS mintage from EDSD is coming along nicely.