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.
Earnings this week were a tiny bit better than last week which is good. I spent $610 of BUSD to buy us 200 INCOME tokens which pay out a daily HIVE dividend while also increasing in HIVE value so an ideal long-term hold for us. Oh, I got them at a 30% discount as it was an offer to BRO dragons which we are cause we hold more than 1000 BRO. On paper we are already winning.
The first of the LISTNERDS unstaking will come soon but bad times for LISTNERDS and all i'll say is i've cancelled the subscription payment. A little more details in this weeks recap at the bottom of the post.
Overall, this week has been decent. Nothing really out of the normal.
I converted some HIVE back into HBD as part of an ongoing trade of back and forth between HIVE and HBD so the HIVE balance is lighter this week by roughly 1650. EDS is continuing to grow and now represents almost 1/3 of the HP we have. This EDS project has been a monster in the dark and it's been picking up good vibes lately within the community. Mostly because its APY is 28% and paid in HIVE. Anyways, it's doing bits for SPI and what was just a side project for fun is turning into its own beast as it's HP balance is about the flip SPI's.
Bought back some SPI tokens this week, also bought some EDS while im talking about it. Bought the SPI cause i've notbought back any in a while and we had some liquid HIVE sitting in the HE wallet. Bought some EDS for 2 reasons, 1st is it offers some liquidity at 1 HIVE each which EDS is pegged to and secondly, they pay out a 28% APY in HIVE each week. Should we get high on our own supply? Probally not but the APY is hard to pass especially is i can pass it off as providing liquidity, haha.
Not much change elsewhere, our gaming tokens are booming in value as shitsignals got us into WOO wrestling early and it's popping off so that's awesome. In fact, he's got us into lots of new games, he's been busy reinvesting HASH KING profits into all these new ones. From what im seeing from my end when the gaming account starts to pay out gaming divs, they are gonna be super juicy and would easily increase current weekly earnings by over 50%.
The stable token balance is around $400 less this week as i spent them $610 buying INCOME tokens and then we added $190ish from EMP farm harvests. Looks like JK has finished building up his SPS/BNB LP as there are no longer any SPS in the Splinterlands account. I have been looking for somewhere to park some of our liquid BUSD but it's slim picking out there for a decent APY on stable tokens so i might bite the bullet and go for the bHBD/BUSD LP on CUBfiniance as it's paying at over 30% APY. It's still gonna be at least 6-12 months before i'll be planning on using that BUSD and it's better staked somewhere because sat liquid not earning, it's easy to spend/FOMO into something new and shiny.
EMP is still underpeg and not looking to good to be honest. The problem with EMP is lots of the people that invested early have grown their investments 10x plus and now they are starting to cash out more. Of course rising inflation with energy and food costs increasing by crazy amounts does not help as people are more cash scrapped and turning to selling off investments to get by. For now, im bullish on EMP and see this underpeg as a chance to acquire some ETH at a discount. Should the peg drop to 0.70, my mind will be changed and i'll consider exiting some or all of our position. We have easily pulled out 4 ETH worth of BUSD from EMP so far from our investment of 10 and currently, our LP is worth 9 ETH. Exiting at 0.70 would still leave us in profit but i hope its regains peg as i'd like to see this project succeed.
SPI token price is up in both HIVE and $ prices this week which is cool. I have been meaning to update a few holding i dont update weekly such PUNKS, SKIPPY and gaming NFT's. I think overall, after i update these prices, we'll see an overall increase as shitsignals has been busy with gaming and his got stuff I've not seen yet. I check his wallets on a weekly basis but not the gaming NFTs he has for us.
Going back to LISTNERDS and cancelling the subscription. WHY? because they have changed the payout structure so now it's 90% less than before and the price of the token is continuing to fall very fast. To give you an idea if how fast the decline has been, when SPI first got involved, we were earning 2000 LISTNERDS per day, 2 mails paying out 700-900 each and then 500-700 from staking rewards when the token being worth over 60 cents. Today, 2 emails are paying out 20 tokens each and staking is way down because I've already unstaked most of our tokens, haha. The token price today is 1.2 cents which is a disaster for us as we've paid near $200 in subscription fees so far and have 83k tokens worth $99 (at best). So since the payout structure changed 3 weeks back, I have set us up completely automated posts so no input from me while receiving maximum rewards, for what they are worth. The current subscription expires on teh 9th and with that so will our input. I will do 1 last unstaking on the 10th and then we'll see what our losses are after 10 weeks. So we lost $200 trying something, was worth a go and $200 is not that much, we earned that from EMP this week alone Was worth a try, shame.
A quick update on the SPI loyalty thing, still waiting to receive stuff. The order has been on this "in production" status for almost 2 weeks already. I mean should not take that long to print mugs, stickers and magnets. Either way, we wait because have no other choice.
Overall, it's been a good week. Everything is up a little, earnings are up and holding are up. Perfect.
Have a great Sunday everyone and fantastic week ahead.
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 want to track our progress.
