HBD Backed EDS tokens | EDSD Weekly Updates and Charts #07

3 months 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 7s 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.

The HBD wallet grew by around 200 this week, at this rate, we'll be a top HBD wallet in no time. The total HBD in the wallet is 4422. We have alot of people that rebuy MORE EDSD every couple of days, a few who have recurring payments set up to automate it for them and of course, 1-off buyers. We welcome all HBD and dont ask for KYC! 🤣

HIVE is up 3% from last week so we got less HIVE (orange line) for our HBD. We did earn more HBD from interest this week (blue line) compared to last but was not enough to push our conversion to plus HIVE.

We were able to mint 23.24 EDS this week from 50% of the HBD interest which is ok. I dont think EDSD will ever be mint hundreds of EDS each week because we'd all hope for HIVE price to increase over time, this would mean less HIVE for HBD interest. Its not a bad thing.

A few people have said to me that we should have released EDSD when the price of HIVE was low. HIVE is 33 cents, it's still cheap but more importantly, EDSD is a HBD bond and you'll always be earning 50% of the HBD interest rate paid out as EDS. EDSD should be thought of as a dollar investment token.

At a dollar value comparing EDSD rewards with eds-vote rewards, EDSD wins by alot and is around 2.3 times better in terms of dollar values.

As I said, EDSD will never be minting hundreds of tokens a week. The 90k EDS allocation EDSD has at the current rates would take 74 years to distribute. Even with a 10k HBD wallet, it would take 30 years to mint 90k EDS tokens. The same is true for eds-vote as well and it's over allocated too. Not a bad problem to have. Whats next EDSMMM? Joking. We can maybe release something on EDS's 5th birthday are something.

Thank you for taking the time to check out this week EDSD report, have a great week and may your bags pump!