Updates for EDS tokens - Miners, EDS APY and token burn!!!

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Hello EDSer's. It's been a minute since I dropped an update on how things are going with EDS and EDS miners so I thought I'd pull my finger out get it done.

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Updates from Eddie Earner

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Only 950 EDS miners (EDSM) left!
We are 3/5ths sold out of these and once they are gone, they are gone. EDS miners are currently the only way to mint new EDS tokens into circulation. With 1500 currently issued, each EDS miner is mining roughly 3.5 EDS tokens per year. When all 2500 are sold and staked, each EDS miner will earn roughly 2 EDS tokens per year to yield a 20% per year ROI.

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What other miner token mines an income/dividend token?

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EDS income APY has increased to 22%
The weekly HIVE income payments being paid out to EDS token holder has been climbing since EDS miners were introduced. Over the past 8-9 weeks, the APY for EDS tokens has increased from roughly 13% to 22% and still climbing. As more EDS miners are issued, the higher the APY climbs for EDS income payments.

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Burn, Baby BURN!!
We all love a good token burning and Eddie-earner is no different. EDS or loosely pegged to 1 HIVE each and we offer limited buybacks at 1 HIVE on the exchange. We have bought back 393 EDS from the market at 1 HIVE each and burned them.

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  • Total EDS token minted from EDS miners (EDSM) to date - 699.20
  • Total EDS tokens burned to date - 506

We can see from this EDS has no problem buying back newly minted EDS tokens if miners would prefer to sell EDS for HIVE. There is still over 100 HIVE's worth of liquidity on the exchange so the supply is more than the demand which is good as we would prefer users to HODL but at the same time, we'll buy them back at 1 HIVE each and burn them to increase the AYP for reminding users.

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That is all the important stuff. Please know that EDS is still only getting started and I aim to get the EDS APY to over 30% and stay over 30%. The only way to get EDS tokens is through miners so if you are interested, you know what you gotta do.

Thank you for reading through the update, the numbers are still looking good and growing at the predicted rate. Watch this space are be part of it 😁

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12 comments
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I think the EDS burning is doing quite a good job. It has burned most of the EDS minted from the current miners. The 22% APR is quite good and do you think the increase in APR will continue?

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EDS is still only getting started and I aim to get the EDS APY to over 30% and stay over 30%.

All the commenting is making you tired, I get it ;-)

Also, notice he mentioned APY and not APR

https://www.investopedia.com/personal-finance/apr-apy-bank-hopes-cant-tell-difference/

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Yea I made a mistake but I tend to get them confused since its APY in one then APR in another.

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It is all over the place, I wonder if it's being used correctly everywhere.. then again the numbers are so crazy and vary widely so I just use it as a rough estimate. Numbers change quickly too.

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Yes it is designed to keep increasing as the amount of money in the account grows.

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I guess its the extra burning because when I bought my first EDS, I thought it was going to take another year to get to 20% but now we are at 22%.

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Bought my first EDS today, really liking the idea behind this. Thanks for the update.

What happens when the max 500k eds tokens is reached? Will miners be worthless at that point? Or will frequent burning keep them relevant?

Currently thinking of getting some, hope you can clear this up. Thanks in advance!

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I think it will take like 50 years to get there so it will be a while before that becomes a problem.

There was a spreadsheet in one of the posts.

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Ahh yes makes sense, with 2500 miners mining 2 tokens each year that makes 5k a year, probably even longer then? Especially if there's some being burned too..

I'll see if I can find the spreadsheet but definitely gonna try and get some.

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Wow, that is pretty impressive. The idea that there are only a couple of tokens per miner per year makes it feel like it isn't that good of an investment, but then you seen the rates and read about the burning and you start to realize just how valuable this token is. Thanks for sharing!

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