Hello SPIers, today we look into a HE token that has been operating for a long time already but you might not be aware of it. SPI is invested into this token and im going to explain what it is and why we're invested.
What is INCOME Synergy Fund - INCOME
The INCOME Synergy Fund was created as a way to 'invest and assist' in promising projects, the idea being that by assisting, we can improve the chances of the investment doing well. This product is for ENTERTAINMENT only!
This project was launched back on STEEM by @ecoinstats (no intro needed) in 2019 at 1 STEEM per token (I think). It was mainly based around SBI (STEEM-backed Unit) giveaways, earning SP from curation and distributing the STEEM rewards to token holders. While on STEEM, the project invested in many steam-engine tokens and built a plethora of incomes.
They forked over to HIVE in 2020 with the rest of us and from what I can see the project got a massive boost from the HIVE airdrop and it converted all its STEEM, SP & SBD into HIVE, HP & HBD which pretty much doubled up its assets. Since the move over the HIVE, INCOME has been mainly focused on curating quality content and distributing liquid HIVE income payments. They do have some hive-engine tokens but the HE wallet is small compared to their HP balance. The HE wallet holdings are so so in my opinion, nothing special. The real value of INCOME 100% lies in its HP balance.
The bulk of INCOME's income comes from HIVE content rewards. They have around 30% of their HP being delegated to SBI accounts which earns them SBI units which in turn increases their content rewards. The remaining 70% of HP is used toward its daily content curation and I dont see any active powerdown so all HP is being saved/compounded. My guess is this acts as built-in growth and why the token price and income payments increase over time.
In its simplest form - INCOME is a HIVE curation project that is heavily invested into SBIHBI units. Its use case for token holders is a HIVE income token that pays out daily liquid HIVE.
The INCOME token
The INCOME token is long sold out but you can still buy them directly from the hive-engine exchange listing. The daily volume is small and I would advise anyone looking to buy more than a few (50+) to contact @ecoinstats. If he is in a good mood, he might sell and fill your request from his stash. If HIVE ever moons 10-15% in a day, that would be a good day to ask him 😉
- Hardcap - 15,000 INCOME
- Current HIVE Price - 13 HIVE (13x up from launch)
- HIVE income APY - 6.85%
I can understand that INCOME from the outside, maybe from your POV looks to be a pretty boring project. I get that, its price looks high, its APY is not great, there's no branding and there's no USP in earning curation and disturbing rewards among token holders. The thing is when INCOME was launched, this was its USP because nothing like this existed before. Pre-INCOME token, many projects accepted HP delegations in return for HIVE rewards to delegators but none used tokens. I think INCOME was the first token-based curation reward project that rewarded liquid HIVE.
What looks boring is amazing. People who bought in at launch for 1 STEEM each are enjoying HIVE income payments equal to a 91% APY based on their invested amount 🤯. Yeah, boring from the outside but mesmerizing from the inside. The longer you hold, the better your income becomes and it happens so slowly, you dont even really see it happening.
Being first makes it no more interesting to you today but INCOME has a 4 year history of results to back it up. The fundamentals of INCOME are solid, its results are impressive and investing at any time is a good time based on its model of guaranteed growth.
SPI's INCOME investment
We have bought 2 batches of 200 INCOME tokens and currently hold 400. Both of these buys were private buys and paid for with BUSD. This worked out well for us at both times because i was looking to convert some BSC defi profits into HIVE assets.
- 2nd Sept 2022 - Bought 200 INCOME for 610 BUSD. In HIVE, this was 5.55 per token
- 15th July 2023 - Bought 200 INCOME for 750 BUSD. In HIVE, this was 10 per token
- Our total investment is $1360 or 3110 HIVE. This breaks down to 7.78 HIVE per token.
There is no real game plan for our INCOME stash, we simply hold it, receive daily HIVE payments and watch its value increase over time. It is truly passive and to date, SPI has done well. Our 400 INCOME tokens are worth 5200 HIVE at today's price and our HIVE income payment APY is 11.5% based on our invested amount, not the current trading price.
For SPI, we sit on this stash for a long time and watch our HIVE income payment APY moon for us. Thats all.
For the normal HIVE user
I would say if you plan to be on HIVE for a long time, it might be a good idea to build up a stack of 50-100+ of these. Once you buy them, forget about them and consider the investment to be a write off. You will get your investment back through your daily HIVE income so we will swap the term APY for ROI. Starting at a 7% ROI, it will take over 15 years to get your investment back but as the price of the token increases due to its HP balance compounding, your ROI also increases because the token value to APY always stays between 7-8%.
If you buy today at 13 HIVE per token and the ROI is 7%, over the course of a year you'll earn 0.91 HIVE from daily payments. In 5 years when the price of the token is 25 HIVE and the APY is still 7%, your 1 token over a year will earn 1.75 HIVE. This gives you an ROI of 13.5% based on your investment of 13 HIVE. As more time passes the token price continues to increase while the APY remains stablish at 7%, your ROI based on your invested amount will increase and compound to a point where in 15-20 years, you could be earning more in 1 year from daily HIVE payments then you invested in total.
It just makes sense long-term to hold a few of these. Getting large amount could prove to be hard but money talks. The project delivers exactly what it says on the tin. There is nothing fancy about it, new promises of anything, it just does what it does and can do it very consistently over a long period of time.
Final Thoughts
The INCOME token is one of every few that deliver what they say. The model is fairly simple to understand, growth is built in and long term, it will do very well. Because of its heavy investment into the HBI eco-system, it is dependent on producing content to make the most from that. Alongside HIVE curation, the project is able to pay out daily HIVE income payments while also being able to powerup HIVE for growth.
INCOME does release daily update reports that act as a Readers Digest showcasing some of the posts it curated. There is also a full token holder list including amounts heard and daily payments. SPI own 9.8% of INCOME tokens and gets a daily payout of currently 0.98 HIVE per day. Lastly, they include HE wallet holdings.
To top it all off @ecoinstats is a solid operator. He has a few projects under his belt, none of which has ever been a money grab or unfair to investors. His projects are mostly backed with assets tokens which I think is ethical and rare within crypto, he's also a hard worker, has a great imagination for thinking up token models and is a good communicator. If HIVE had 100 more like him, HIVE would be in a better place. Ok, im done with kissing his ass for now.
All in all, this is a solid project. It's a little boring, there is nothing exciting about it but at the end of the day, we're trying to make HIVE with as little input as possible, not to have fun and this is a project that does that very well.
SSUK Score of 9 out of 10
I scored it 9 of 10 because it does exactly what it is supposed to do. The project went through its stages of growth on STEEM and since moving to HIVE, it is in its final form. This is the perfect long-term hold for any serious HIVE user. You buy it, get an ever-increasing HIVE income and your ROI gets better each year. I mean, thats perfect for any long-term investor. It's so easy for the end user.
You might think this is a high score and something like EDS that does something similar would score higher because it's a bigger project, has a community and a much better APY but fact is, EDS is not complete and only 10% of tokens are in circulation and that would make EDS 7/10 in my eyes. INCOME is hardcapped, it's complete and has a history, a track record of consistent token value growth and paying out daily income payments for almost 4 years. I score past results higher than future promises. INCOME is a top-tier token.
| 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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