EDSvote update #22 | Back to Porridge 😁 and Kicking Ass

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 22

Let's have a look at the numbers in chart form as this is the best way to see performance and predict the future.

This week, the delegated amount increased by around 1k from last week which puts us back onto our path of growth and fingers crossed, we hit the 100k mark again by year-end.

After last week's inflated APY, we returned back to our normal curation APY of just over 8%, 8.3% to be exact.

Sometimes I get asked what sort of ROI delegating to @eds-vote yields. It's 50% of the curation APY in the above chart. So this week, people delegating HIVE POWER to eds-vote and EDS being minted at to the value of 1 HIVE each, people will get an ROI equal to 4.15% per year. Not a massive number I know but EDS does not trade for 1 HIVE and when we adjust the ROI for today's trading price of 1.3 HIVE, we get 5.4% and dont forget your HP grows by 3% a year as well on top.

This week we made 134 HP in rewards. This is cool but it is a small bump in the road for us to start a bigger powerdown of 150 HIVE per week. I might make the next powerdown cycle from eds-vote to be for 125 HIVE. The amount we powerdown each week should not really exceed the amount we produce from curation.

In general, our curation rewards are still increasing as more people either join eds-vote or up delegation in place.

Last week, we minted near 100 EDS, this week we minted 67 so a fair dip. This is still over 3500 per year and always growing. Well apart from a few weeks back but I mean normally its always a growing amount. We're coming up on @eds-vote being 6 months old and we can see in the above chart, we're minting 3x more than we were for the first few weeks. If we are minting 2x what we are today in another 6 months, i'd be over the moon.

Round-Up

Nice easy week for EDS-vote, we saw around 1k more HP being delegated in, our curation APY is doing good and we continue to grind it out. If we continue on this path, I think we could hit 100k of incoming delegations by year-end in 14 weeks from now.

I shared yesterday in a post from @spinvest that SPI has plans to use HIVE from a future trade to delegate to eds-vote. This amount will be over 50k HP when it arrives and it will stay in place fingers crossed, for the best part of the year during 2024/25. It will still be some time before this arrives but I thought I'd just share that as its interesting. I also plan to delegate around 40-50k from my personal account around the same time and we'll get a boost of 100k at this time. It's something to look forward to.

Thank you massively to all the people who support @eds-vote by delegating any amount of HP. I understand the APY is not great but is earning 4% of EDS (backed & pegged to 1 HIVE) better are worse than 16% of some tribe or gaming token minted from thin air that only declines in price?

The people who delegate to @eds-vote know the answer and understand there is no risk with EDS tokens because they are pegged and have never lost peg since day 1 over 3 years ago. Infact, you can't even buy EDS for 1 HIVE and they sell over peg which is madness in itself. Dont sleep on eds-vote because it will not be active forever and this might be the only way to ever mint EDS without having to hand over hard cash (HIVE/HBD).

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.