HBD Backed EDS tokens | EDSD Weekly Updates and Charts #023

11 months ago

Hello and welcome to this weeks EDSD post.

What are EDSD tokens?

EDSD @eds-d are the last to be released token from @eddie-earner because now all 500k EDS are allocated. Some will be aware that I have been itching to release an HBD-backed token for EDS for a long time but I could never think of a good model. I was thinking how can EDSD compete with the 20% APY being offered for saving HBD currently? This was the wrong way of thinking, let me explain.

I am aware that there is a demand for EDS tokens because they have a small mintage and pay out a handsome HIVE income equal to over 25% APY. We seen from @eds-vote that investors were happy to split rewards and receive 50% of the curation rewards as EDS with the other 50% being powered up to @eddie-earner which increases the EDS HIVE income pool. Win/win. EDSD is based on this model.

EDSD tokens are equal to a HBD Bond that you buy, hold a long time, get a yield and when you want your HBD back, you convert your EDSD back into HBD. All HBD collected from issuing EDSD is added to the @eds-d saving wallet. 100% of the interest earned is converted to HIVE with 50% used to mint and issue EDS at the value of 1 HIVE each to EDSD token holders and the remaining 50% being powered up to @eddie-earner. Basically, 100% is powered up and we issue EDS rewards on half the amount powered up.

After you exit, assuming you stacked your EDS, you will have an HIVE income for life or at least as long as mine, (38). The longer and more EDSD you hold, the more EDS you will get and the higher your HIVE income will be. Pretty simple, buy it and forget about it. EDSD will not last forever as they have a set amount of EDS allocated to them and when the allocation is done, EDSD will either wrap up or introduce another reward. We're talking a few years, not a few months.

For full information about EDSD and FAQ's, please click below

Week 23s Update

Get ready to embark on another rollercoaster ride through the wild and wonderful world of EDSD with our Weekly Report. This edition is juicier than a pineapple at a tropical crypto party, price shenanigans, and tech breakthroughs that even Elon would raise an eyebrow at. Let's get into it.

Small growth this week of 50 EDS but up is better than down and we're almost back to 6000 HBD. Its nice to see that people are always supporting this week in and week out, recurring payments are a godsend!

A small increase in HBD interest this week and a big jump in the amount of HIVE we get as HIVE has tanked 10-15% in the past week. When we released EDSD 23 weeks ago, people told me I'd timed the project launch wrong because we're in a bull market and ideally EDSD should have been launched in the bear market when the price of HIVE is going down. HIVE has dropped 35% since, who would have guessed?

There is still plenty of time to get excellent EDS harvests from EDSD. Last cycle HIVE crossed over the $1 mark in Nov 2021 and only stayed over $1 for 2 months, over $2 for 10 days and over $3 for 1 day. This should explain better why I say there is still lots of time to get excellent yields from EDSD. We have bad memories, I bet you reading this would have bet $20 that HIVE was over $1 over 5-6 months last cycle.

Not saying HIVE will not pump, I think it will but not for at least another year based on the past cycle. Of course, we dont have STEEM users dumping HIVE airdrops this cycle but we still have plenty of selling pressure.

All-time new high EDS mintage for @eds-d, huzzah! Oh, the joy!

37 freshly minted EDS have been shipped to EDSD token holders this week which is brilliant. If we can keep on issuing out new EDSD tokens, I hope this can crack minting 50 EDS a week but the end of the year.