HBD Backed EDS tokens | EDSD Weekly Updates and Charts #17 🚀
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 17s 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.
Decent increase of around 70 HBD this week, our chart is looking very nice and our growth has been surprisingly consistent. What could we do to give us a boost? There are lots of things but I guess if people are buying HDBD for an incentive, they are weak hands, Damn, im getting wise in my old age, 3 years ago I would have never said that.
Our HBD interest payment (blue line) has increased along with our HBD balance and this week we got more HIVE for it. HIVE must have gone down in the past 7 days. More HIVE is good because half of the HIVE is used to mint and issue EDS tokens to EDSD token holders.
HIVE going down is bad but the grass is always greener with EDSD where the price of HIVE going down means more EDS being minted!
Talking of EDS mintage, this week the @eds-d account minted 33.29 EDS. I cant see HIVE dropping to under 25 cents again so right now might be is the best time to get maximum EDS yield from EDSD. Once HIVE crosses over 50 cents in 3-12 months, it could be 2 years before we see it under 50 cents again during the next crypto winter. You might think it'll never drop that low again (after the bullrun) but remember, HIVE has a fairly high inflation.
There were 330M HIVE at the time of the hardfork just over 4 years ago and today there are 430M HIVE. That might not look that bad but 30% dilution over 4 years is alot when many (well, a few maybe) of us plan to be on HIVE for decades. For HIVE tokens to reach their all-time high price again, the total marketcap needs to be 30% larger than it was last time.
What was I talking about? Oh yes, EDS mintage was good this week, the highest it has ever been. Fingers crossed we can repeat this next week.
Investors' Path Start to Finish
- Send any amount of HBD to @eds-d
or - Set up a HBD recurring payment to @eds-d (for Saturday Savers 🤑)
- Receive EDSD in your hive-engine wallet a few moments later
- Hold EDSD to receive weekly EDS rewards each Monday
To exit
- Request cash out in the weekly EDSD post
- Send your EDSD tokens to @eds-d
- Receive your HBD back after 3-4 days
