Hello, SPIer's. Today is Sunday and we end the SPI week with our weekly dividend payment this evening and every Sunday at 21.00 GMT.
What is SPI?
SPI tokens are growth investment tokens that pay a weekly dividend. They have been circulating for over 2 years, on STEEMHIVE. Mostly sold for 1 HIVE, each token today is worth over 4 times its HIVE issue value and 12x its dollar value. On top of that, token holders receive roughly 8% more SPI's every year from weekly dividends. We raised $13k from issuing SPI tokens for the first year which has been used to grow a diverse portfolio of investments, many of which provide streams of passive incomes. SPI tokens are part ownership of all SPinvest tokens/accounts, assets and income. The price of each SPI token is its liquidation value as SPI tokens are 100% backed by holdings. Handcapped to roughly 94,000, no more can be minted are issued. Adding, hold and compounding has us on the road to major growth and these tokens are still growing in value.
SPI tokens are part ownership in an actively managed fund. We have our hands in over 20 investments with the lion share being HIVE, BTC & ETH. We dont FOMO are chase pipe dreams. Tried and tested works best and is safest. Our motto is "Get rich slowly" and compounding down on sound investments is our game. You should invest in SPI tokens with the mindset of not selling for 3-5 years minimum. Let's have a look at this week's on-chain HIVE earnings.
This weeks income is pretty good. This is our first week earning over 600 HIVE in a long time. The boast came from the SPK airdrop, for some reason, the price of the token has increased a bunch as we usually get 40-80 HIVE for this every month. We could hold it and build a node I guess, I dont sure how their nodes work as I've not looked into it. I'd think it's set up like HIVE/HE and rewards would be based on how popular you are and how many witness votes you can get. If this were the case, I'd pass unless you are very popular. This is why i sell them each month, we have no use for them.
We got a little income from the gaming account as well this week, 50 HIVE. This is prob just another 1 off but I can see there's plenty of money being moved around, and reinvested and the numbers are getting bigger. By the next bullrun, our gaming account will be a major part of the SPI portfolio and the plan is to be able to pull some out each week.
Still waiting on the LISTNERDS unstake to come through. Our subscription has ended and it's not being renewed, they changed the game and now it's pointless. 100% of our LISTNERDS are being unstaked, around 84k of them. From my POV, we're done with it as far as an investment. We might use it from time to time on the free sub as a promotional tool. The first WOO unstakes came in this week which was worth 12 HIVE, not much but this is week 1 of 4 so in theory, in 3 more weeks, we'll be earning 48 HIVE from WOO each week. Unstaking WOO takes 4 weeks split into 25% each week. I unstake weekly so after 4 weeks, it's the same as getting 100% each week as long as i keep up weekly unstakes.
In other news, i've started to buy up EDS for SPI. This provides liquidity to the token at 1 HIVE each and earns us a 30% HIVE ARY income, already have a few hundred so we'll see how they turn out. We maybe should not get high from our own supply but alot of miners like to take profits and SPI likes to build passive income streams so they kinda go hand in hand. SPI would invest in EDS even if it were not run by SPI, lol.
Earnings are great this week, they will drop again next week but this the nature of the beast and maybe in another 4 weeks time, we'll get another boast from SPK.
Cashed out some LEO into HIVE to top us up and sold off a bunch of HE tokens that we dont need, all stuff from random airdrops and tribe tokens we earn from posts. I have noticed that the value of both APLHA and BETA splinterland pack tokens have been declining alot over the past 4-6 weeks. We are lucky to have sold off most of these while there was a high demand and prices were over $700 each for ALPHA. BRO is up a little on last week, SEED is down a little and the rest (CL and DEFI) are either maintaining or compounding.
You'll notice we are holding alot fo stables tokens at the minute. I exited our EMP positions a few days back when peg dropped to 0.72 and ETH was mooning 8%, seemed like a good time. I converted everything to BUSD and now we wait for the ETH merge hype to die off to get back into ETH. Until now i need to find somewhere to pack these stables but im limited to places. You might think the bHBD/BUSD LP on CUBfinance and this would be perfect if bHBD had liquidity. The slippage is real and converting 10k BUSD to bHBD costs 12%, even 1000 costs 2% in slippage which is equal to 2 weeks worth of harvests from the farm. I could convert 1000 BUSD into HBD for 10 days to create a $20k LP but when it comes time to exit and reenter into ETH, the cash out will take 10 days and im sure cost another 2%. The bHDB/BUSD LPs APY is very good at 28% but im more likely to go into the 4BELT kingdom that has an APY of 13% but instant liquidity.
Everything is floating along. You can see below our defi holding are almost nothing compared to what they have been. Everything you see below is under control by jk6276. EMP might come back and if it does, his wallet will make wonderful returns, with the small amount of exposure we have, im ok to ride the wave and see where it takes us.
SPI token price is about the same in HIVE as last week and up around 10 cents in dollars. It's been a storage week, ETH is up and down and bringing the rest of the market with it as its marge even is to take place within the next week are so. Honestly, i'll be looking forward to this even being over and us getting back on track with the market cycle. Sure it's great to see crypto pumping when there doom and gloom everywhere but im looking to buy so i want to see prices go down. After they go down and SPI fills its bags with discount goodies, then i'll give permission for the market to moon and embrace.
Update on our Royalty Rewards promotion. The merge i have ordered has finally been shipped so that will arrive soon and I'll be able to stat building SPI/HIVE merch packs to send out to SPIers holding more than 1000 SPI tokens. I had planned to have this all sorted by the start of September but the printing company has taken near 4 weeks to complete the job when I was quoted 10 days and on top of that, the postal service is striking due to pay and everything is very slow. Either way, we wait and whatever, it'll be worth it in the end.
So to round up, earnings this week were class, were out of EMP and LISTNERDS, we're buying back EDS tokens and im currently looking to allocate 20k BUSD to a holding spot while we wait for the price of ETH to drop to $1000-1200 over the next 2-6 months. I dont think we've not seen the bottom of the bear market yet and believe me when I say this, this is the biggest gamble I have ever taken for SPI but i think we will beable to convert our BUSD into more ETH at a later date compared to today at today's prices. I could convert our BUSD into ETH today and we'd have 12.4 ETH which is 2.4 more than we've ever had but I think as a young fund and with this opportunity only coming around every 4-5 years, we have to go hard, carpe diem. At $1200 ETH, we can buy back 18 ETH, at $1000, we can buy back 22 ETH. Ideally, if we were able to get 20 ETH and hold that until the next bull market, that would be perfect. Worst case is ETH never drops to them levels and we end up earning 12-20% on $21k BUSD. This time 3 years ago, SPI was not even worth $21k with 90% of its tokens issued so worst case ain't so bad considering the growth we've seen ever the past 2 years.
That's the update for this week folks, Dividends will be shipped this evening and i hope you have a great Sunday.
Thank you for taking the time to read through this week's SPI earnings and holding report. We post every Sunday to keep our investors up to date so please follow the account if you would like to track our progress.