EDSvote update #6 | Slowing growing and building
Welcome all to this week's EDSvote update where we look at a range of different things. Please follow the @eddie-earner account to make sure all our reports are going into your feed and you can easily stay updated on your investment.
What is EDSvote?
Eds-vote is an account that people can delegate HIVE POWER to. In return for their delegation, they will receive EDS tokens each Monday.
The delegated HP will be used to curate content on HIVE and provide small upvotes for those that hold over 100 EDS tokens. Delegating HIVE POWER to @eds-vote will not result in an upvote. This is not a delegation to upvote service. It is a way to distribute the remaining reallocated EDS into circulation.
What are EDS tokens?
EDS tokens are HIVE income tokens that are pegged and backed to 1 HIVE each. They pay out weekly dividends every Monday based on 12% of the total powered-up HIVE balance of the @eddie-earner account. This is currently paying out an APY to token holders of roughly 35%.
How does it work?
For full details, please see How EDSvote works and How EDSvote affects the EDS APY long over the next 25 years
Report #6
Let's have a look at the numbers in chart form as this is the best way to see performance and predict the future.
We hit all-time high incoming delegations this week which is amazing. This should help us to earn extra from curation and mint more EDS. The end-of-year target is still 100k incoming HIVE POWER and i will continue to release this weekly updates to hopefully get as many eyes on this as possible in the hope of hitting that target.
This week is a small dip from last week and was expected after I changed the autovotes to be smaller but include more people. When adding people to the auto voter, im not aware of who posts are how often so its a bit of a balancing act to get it right. We'll get there and soon hit our target of 8% curation.
We earned 74.07 HIVE from curation which is around about what we should be getting for 53k HP. This will increase but we're doing ok.
37 EDS token were minted this week through EDSvote. This will be around 1900 EDS tokens per year but as we receive more HP delegations, this will increase. With 180k EDS allocated for EDSvote, there are about 4.860 weeks of rewards left, 93 years. I think we have enough 😁
Round Up
Really happy to see more HP be delegated into EDSvote, every little helps. I understand the advertised APY of 4% is not great and I am very grateful for these that do delegate HP and help with the project. When working out the APY, i base EDS being valued at 1 HIVE but it is currently selling for 1.35 so that 4% if cashed out weekly is more like 5.4%.
On top of that, we give upvotes to people that have over 1000 HP equal to $0.78 so if you post daily, thats an extra $2.73 per week after a 50% payout split. This is roughly 8 HIVE per week or 418 HIVE per year. If you delegate 1000 HP, you're getting 418 HP back a year in upvotes, if you post daily. Even if you post 180 days in a year, that is over 200 HIVE per year and a 20% ROI on your delegated HP before we factor in EDS rewards.
MIND BLOWN? Dont let the 4% put you off cause thats your EDS reward. If you post content, you can earn much more.
Thank you for taking the time to read through this
If you have any questions are would like to leave some feedback, please do so below and I'll get back to you at some point soon.
Thanks for the update !
I totally support the idea of making auto-votes smaller but covering more people. It's something that always bugs me when there's a lot of fuss about rewards but only a couple of people (and usually always the same ones) get all the benefit. Getting rewards like this is very motivational, so the more people covered the better 😀
At the minute, I have them set up for those that are delegating over 1000 HP to eds-vote and anyone that holds over 50 EDS tokens as well. It's a process at the minute as im finding the sweet spot. I will increase the number of people as time goes on. After I find the sweet spot, I'll be aiming to do everyone that holds over 25 EDS next and then after that, I'll aim for everyone delegating over 500 HP.
I've been on STTEM/HIVE over 6 years now and I've learned when you spread the love, its returned :)
Thank you for nice words of support 😎
I'm all for spreading the love around Hive. My entire account is about this. I love this attitude, even outside of the financial sense! 😊
So, if I understood correctly, the votes are not in some linear or non-linear correlation with delegation or amount of EDS owned? Rather, they are one static percentage?
Also, I believe I read somewhere that every Monday EDS tokens (on top of Hive rewards) are supposed to be dropped based on our delegation. I didn't receive any this week (with a ~1750 HP delegation). Was this some type of error?
That sounds good. Can we delegate 50 Hp and earn eds or there is a minimum HP that should be delegated to earn eds tokens ?
i have the same dubt
Yep, mind blown ... thank you ...
Hello. I believe in and support the project. I began with 100 HP delegated to @eds-vote. Yesterday, I increased my delegation to 1K.
Thanks so much for all you do. I wish the project much success.
My delegation is now 1,001HP -- excited to see the mind-blowing explanation here in action!
Quick question: Did you mean "we give upvotes to people that have over 1000 HP equal to $0.78" or in the sense of "as much as up to $0.78 daily"?
This is a snap from HiveStats for a 30% upvote.
The 0.84 is actually HIVE. From that 0.84, you would receive 50% after the curators are paid.
So, .84 HIVE -- got it and now I get it -- thank you!
I understand you lowered the thresh hold for autovotes, I hold 71 but haven't seen any votes, do I need more before that kicks in?
Hello. How is it working rn? How many EDS and HP delegated to receive an upvote? Thanks.
Told you we will get 150K this year. :) as in 3-2-1 right now!
so if i want the upvotes on my posts, how can i do it now? should i delegate or something else? and if i have to delegate, where?
To receive the vote do I need to be held? If so, how much at least? Do I need to delegate? I need to use some #
Good morning, a question, does this service not work? Can I delegate?
Thank you!