Hello SPIers, today we take a deep dive into our @eddie-earner account. The EDS project is over 3 years old and it's been the perfect 1st subsidiary for SPI to date with no signs of slowing down, if anything, it's only getting better with time.
Launched in September 2020, 4-5 months after we moved from STEEM to HIVE, EDS was introduced as an inflation-beating HIVE income token. Each EDS token is backed by 1 HIVE or HP. Investors could buy EDS for 1 HIVE each and earn a HIVE income while they hold them. When the investor wants to cash out, they could sell back their EDS for 1 HIVE each resulting in a no-risk investment.
- EDS Hardcap = 500,000
- EDS in circulation = 45,041.59
- EDS minted per week (currently) = 360-400
- Current HIVE income APY = 28.63%
- Each EDS token value - Pegged & Backed to 1 HIVE
20,000 EDS were listed for 1 HIVE each to launch, it took 4 months to sell them but we got there. Susie-Saver (@shanibeer) joined the team and launched Saturday Savers at the start of 2021, EDSM was released in March 2021, EDSMM in June 2022 and lastly, we added @eds-vote in April 2023.
Eddie Earner
For those who will remember back then, Eddie-Earner was the character in a weekly comic strip that had 14 episodes. He is a wheeler-dealer who dresses in a BEE suit. He is a little bit stupid and simple but gets it done one way are another through grinding. The premise of each cartoon was Eddie would end up either earning or gaining 12%.
Eddie Earner is for earning an income
Susie Saver
@Shanibeer decided to stick to the theme and she also dons a stylish bee custom for Susie. Susie is a little smarter than Eddie and she's all about saving money through the Penny Challenge. This is a 1-year challenge where you can either join the default Penny challenge saving plan or come up with your own. Each saver will set a target for themselves and write a weekly update post to show their progress and in return, Susie keeps everything tracked and in order.
Susie Saver is for saving
Soon you will be able to save with Susie and earn from Eddie at the same time
The EDS model
We kept the model super simple because a simple project is easy to operate and it is transparent to investors. Everything that flows into the eddie-earner account should that be tribe tokens, airdrops, NFTs and whatever else is all converted to HIVE and powered up. The account only holds HIVE-POWER
The core single most important rule for the EDS is that the HIVE income pool is equal to a 12% APY of the @eddie-earner HP balance.
EDS through leasing HP, receiving HP inflation and producing content in the forms of weekly reports is able to earn higher than a 12% return on its HP balance. If we can earn 18% in total and we pay out 12%, the remaining 6% is compounded into the HP balance. This ensures that the HIVE income pool increases each week without fail. Its been 3 years and we've never had a single week where the HIVE income pool has not increased.
The end goal is to have all 500k EDS in circulation playing out HIVE incomes. The idea is no more EDS will be minted but the HP balance keeps growing. Because the HP balance will continue to increase long after all EDS are minted, the income pool will continue to increase each week and because EDS will be hardcap, token holders will receive an ever-increasing APY each week.
EDS Miners
Both EDSM and EDSMM are miners released by EDS and pay at an ROI of 20% per year on average in the form of EDS tokens. These EDS are minted and issued at the value of 1 HIVE each. EDS mining rewards have been set aside and there is enough allocation to last around 20 years.
Both miners sold out a long time ago and are only available on the secondary market.
EDS-Vote
Launched 6 months ago, @eds-vote accepts HP delegations in exchange for EDS tokens. All received HP is used toward curating content with 50% of the rewards being converted to EDS and issued to delegators and the remaining 50% being powerup to the @eddie-earner account to help increase its INCOME pool and in turn EDS APY. Again, these EDS are minted to the value of 1 HIVE each.
Currently, @eds-vote is the only way outside of EDS miners to mint new EDS into circulation. With so many EDS tokens left to mint, leaving a HP delegation in place for a few years could really pay off big out in a few years.
Coming Soon
In December, EDS will release a HBD-based token. It will be promoted to the Saturday Savers club as a token to use to save and earn EDS while doing so throughout a year of saving. Of course, anyone will be able to buy the token, its not limited to the saving club and it will be another excellent way to mint some fresh EDS.
It will operate much like eds-vote but with the twist of earning HBD as interest instead of HP from curation. To give an idea. People can buy a EDS$ for 1 HBD, that 1 HBD is added to the saving wallet to earn currently 20% per year. EDS receives the monthly interest payment and splits it into how weeks fall in the coming month should it be 4 or 5. Each week on the same day, i will convert 1 week of HBD into HIVE. 50% of this HIVE is used to mint and issue.
This adds to twist of having the HBD to HIVE conversion rate. Some advantages to using HBD is there is no 13-week powerdown so there is no need to build up balance because we can just withdraw the interest payment each month. Investors will be able to request cash out when they want their HBD back. These will take 4 days and be faster than the current cooldown for undelegating HP so faster to cash out and reinvest.
Thats EDS for you folks
I could write about EDS forever, it's such a neat project and me and @shanibeer have worked well together and turned our 1st subsidiary project into a much sought-after investment. The EDS token that is pegged to 1 HIVE has been trading at over 1.50 HIVE for the past 8-9 months and both EDS miners trade for a higher than-issue price. Its simplicity is what makes it amazing.
Thank you for taking the time to bone up on EDS tokens. I dont often write about from this account directly so thought why not? there might be a few people following this account and not even aware of EDS.
Have a great day!
| 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 mini miners | @eddie-earner | EDSM |
| EDS micro miners | @eddie-earner | EDSMM |
| CUBlife | @lbi-token | CL |
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