Where is SPI's 350k HP and how is it being used?
Hello SPIers, today we look at where all our HIVE POWER is and how it is being used.
SPinvest's HIVE POWER
In total, we have 347k HP spread over 4 accounts. We use our HP in 2 ways. 1, to support our own projects and 2, to produce a HIVE income. Lets look and see how much each account holds and what it uses the HP for.
@spinvest - 85,201 HP
The HP balance in this account is used for everything. Around 60k HP is being used to create HIVE income with the remaining 25k being delegated to either our own curation trails or to get other rewards. We get roughly a 10% APY from this balance in total.
@eddie-earner - 59,590 HP
This HP balance is untouchable and a paper asset only. For those not aware, whatever HP is in the @eddie-earner account that is not being used to back EDS tokens belongs to SPI. We cant touch it because EDS mints more EDS tokens than it earns HIVE each week and we use this surplus balance to back those tokens. The main use for this HP balance is to back new EDS tokens and generate HIVE for weekly income payments.
The account @eds-vote which mints EDS mints in exchange for HP delegations has doubled in size over the past 2 weeks. The result of this will be its curation rewards will double and in 3 months time when that HIVE starts to hits the @eddie-earner wallet, EDS will for the first time since it launched miners earn more HIVE than it mints EDS tokens. We'll go from this HP balance declining each week by around 100 HIVE to increasing by 50-100 HIVE per week. That's a big deal for EDS and more so for SPI because we'll go from EDS costing us 5k HIVE a year to it adding 5k HIVE worth of value each year.
@spi-store - 200,113 HP
We recently got 200k HIVE from converting 1 BTC and decided to move it into this account to keep it separate from our main account balance. We delegated 100k HP to each @eds-vote and @leo.voter. EDS for stacking and LEO for selling to increase weekly SPI dividends.
I plan to hold this HIVE in this account until Q1 2025 when I'll start a full powerdown in preparation to sell it all. We'll either convert it into BTC if the ratio drops back to 1 BTC to 50k HIVE or the price of HIVE hits $2, whichever happens first.
@spinvest-leo - 946 HP
This account has been run by JK6276 for the past 4 years. It started with a focus on LeoFinance and last bullrun switched its plan to defi. I have a feeling JK will soon take on a new challenge within SPI and this account will be wrapped up. From an investment POV, I dont have much love for LEOfinance are any of its tokens/products/services so no need for it (delegating HP ok, buying or wrapping stuff, we'll pass). This account will be powered down and re-powered up to @spinvest.
How much is being used for what?
- 160k is being used toward HIVE income for SPI
- 60k is being used to boost EDS HIVE income payments and back EDS tokens
- 115k is being used to support our own curation/distribution projects
- 12k is being used to get
upvotesbetter exposure for content
As I have said above, we plan to sell off 200k of this HP but this will be a medium-term move. As an investment fund based on HIVE, we should always hold lots of HIVE and selling this amount can be seen as us being bearish and selling out but...as an investment fund based on HIVE, I see nothing wrong with selling 200k HIVE for $400k when we can buy back 5x as many 1 year after the bullrun bubble pops.
For the next 9-12 months, SPI will be very HIVE heavy and the SPI token price will be more stable than normal. Let's take this time to sit back and enjoy the boosted dividends while we wait for the price of HIVE to moon.
Thanks for taking the time to check out this 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 | EDS |
| EDS miners | @eddie-earner | EDSM |
| EDS mini miners | @eddie-earner | EDSMM |
| DAB | @dailydab | DAB |
| DBOND | @dailydab | DBOND |
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