What are EDSMM tokens?
These are EDS mini miners and they mint EDS tokens. They will yield 20% when all miners are issued and staked. If miners are still for sell or some are not staked, the yield will be greater.
What are EDS tokens?
EDS tokens are HIVE income tokens that are pegged to 1 HIVEp. All earnings produced by EDS is converted to HIVE POWER and the EDS APY is based on 12% of the total @eddie-earner HIVE POWER balance every Monday at 8 pm UTC (no staking required). EDS was launched with a soft cap of 20,000, at this point the APY was 13%. Since releasing the 1st EDS miner, the EDS APY has increased to over 23%. This percentage will increase as miners are sold and earnings increase through HIVE POWER growth based on my projected earnings below.
There are 475,000 EDS waiting to be minted. Get your hard hat on and grab a shovel.
Why make another EDS miner?
EDS is perfectly set up to accommodate and use a 2nd mining token as a way to introduce new EDS tokens into circulation. Alot of users did not like that EDSM miner were priced at 10 HIVE each so I think time around, we've gone for a miner with a smaller price of 1 HIVE each. All HIVE collected from issuing miners will be powered up and put to work to increase the EDS token ARY
Some details about EDSMM tokens
- There will only ever be 25,000 EDS miners (EDSMM) issued
- Each EDS mini miner (EDSMM) will cost 1 HIVE each
- Each EDS mini miner (EDSMM) will provide an average of 0.2 EDS tokens per year
- This will not change and provide a 20% return on investment for as long as you have EDS miners staked
- Mining rewards issuing account is @eds-holdings
Mining Rewards
24 draws per day, one draw every 1 hour
20 mining rewards per draw, 480 mining rewards per day
Each mining reward = 0.0285 EDS token
Unstaking
1-week unstaking in 1 transaction
How do they work?
They work much the same as the 1st EDS miner which is much the same as any other miner token on hive-engine. Rewards are a lotto-style based so you are not guaranteed a certain ROI but over the course of 1 year, for example, probability and variance play less of a role in the final ROI. The EDSMM has 8 times more rewards compared to the EDSM and this should result in smaller rewards but lots more of them.
- You can buy them from the marketplace on hive-engine by clicking here
- When you have some are alot, you stake them in the hive-engine wallet
Your done
- Buy and stake more miners, sit back and watch the EDS roll in
- Collect a passive HIVE income with your mined and newly minted EDS tokens
Will this new miner affect EDS's APY?
I hope it will have a positive impact on the APY of EDS tokens. Each miner will produce 96 EDS tokens per week. The first miner is sold out so its ROI is now 20%, this new EDSMM token will issue out 96 EDS per week no matter if there are 10 EDSMM staked are 20,000 so getting in early could be lucrative and payout massively for a few first few days. So there are now 192 EDS tokens being minted each week. For me to break this down as much as I can, I mean really like talking to a 5-year-old.
- If we power up more than 192 HIVE in 1 week, the EDS APY goes up ways
I cant predict how much an increase can be as it's dependent on the amount of HIVE powered up
- If we power up less than 192 HIVE in 1 week, the EDS APY goes down ways
If we have bare minimum income and no miner sales, the EDS APY will drop by roughly 1/10th of 1% per week
The APY jump from releasing the first miner was 12% so hopefully will repeat itself. I would predict an increase of amount 8-9% to push EDS to over 30%. If this is new to you and these numbers said like made up on the spot, please take the time to go back through my blog and check out the weekly (most weeks) and watch how the project has been growing. There are not many projects that can pay out a 23% HIVE income each week. So to sum up, I have high hopes for this new miner and issuing 25,000 would be amazing.
Questions are welcomed
The project is being run by @silverstackeruk AND @shanibeer for @spinvest. You can reach us in many ways, the comments below, SPI/LBI posts and the eddie-earner discord.
I guess there's not much more to say other than...
EDS mini miners (EDSMM) are now live!
There were some pre buyers, amazing and those guys are gonna earn the first EDS rewards within the next hour. Not saying to FOMO in are anything but the sooner the better, haha. Im stoked there were prebuyers 😁
HAPPY MINING!!!
A welcome addition to the @spinvest family!
Let's get some HIVE powered up!
Are you powering up daily? 😁
Indeed.
I powered up 1400 yesterday before i went to bed and I've just withdrawn another 1100 there now to power up. I also put in a small buyback order for EDS for 100 tokens at 1 HIVE each, I'll burn these when the order gets filled.
Goodness me! It looks like you've hit the sweet spot between affordability and rewards distribution.
Do they work the same way as the other miner?
Pretty much exactly the same expect more mining rewards. As there are alot more miners, we need more rewards to make sure people still win often and not once a month, haha.
But yes, pretty much the same on a smaller scale
Cool cool, ye winning once a month would suck :p
Yeah, that would blow for sure. More tokens, more prizes are required.
great news! :)
Yep, pretty happy ith how its going so far. Exactly 2400 issued so far. That's around 10% of the total 25k so mining rewards would be roughly 200% for now. I expect that the drop alot all the way down to 20% but it took maybe 7-8 months to sell out the last miner so there's legs.
Thanks for your feedback
silverstackeruk
Good stuff! Bought a few, fuckin binance froze my hive withdrawal because the block from deposit wasn't confirmed yet, will buy more soon. No really..
I love Binance but not now because they will not accept my passport to verify my account for the 8th time. All I can do I deposit and withdraw. It's like every 4-5 months they need to verify your stuff again.
Anyways the EDSMM ROI is around 200% at the minute, i think it'll be over 50% for 1-2 weeks so you might be good still in a few days to take advantage of getting in early. It took 6-7 months to issue all the 1ST miners so if these are the same, it'll take 6 months to drop from 200% down to 20%. I'd say you have time 😁
silverstackeruk
O wow that's an amazing ROI! Yeah, binance doesn't accept deposits from SEPA so I go through bitvavo (dutch exchange) and use nano or litecoin to deposit in binance and get hive. Haven't experienced the endless verifications so I guess I shoudln't complain :-P
Was able to withdraw the hive and buy a fat stack of EDSMM, they've been working hard haha. Looking forward to future posts with some stats maybe :-)
Yes, im very happy that this is released now. Been looking to do it for 3-4 months already, maybe longer.
I know what you mean. News of the launch has been buzzing in the Saturday Savers Club for weeks.
It's exciting to know the EDSM miners are live now! Good thing I got my order in on time as I've always wanted to own some.
I'm not so good with math but you said - "...this new EDSMM token will issue out 96 EDS per week" and "each EDS mini miner (EDSMM) will provide an average of 0.2 EDS tokens per year". I can't reconcile the two. Little help here please. Thanks!
And well done! !PIZZA 🙂
Each EDSMM token costs 1 HIVE to buy and will yield 0.2 EDS per year
EDS tokens are pegged to 1 HIVE so 0.2 EDS is equal to 0.2 HIVE hence the 20% min ROI
To get a little tricky, the reward pool of 96 is set and the 20% ROI is based on the numbers for having all 25,000 EDSMM issued and staked.
Right now, there have been roughly 2500 EDSMM issued leaving 22,500 more to sell. Because the reward pool of 96 EDS is set, mining rewards are currently being split between those 2500 miners that are currently in circulation. So when the ROI is 20% based on 25,000 miners being issued and there are only 2500 miners issued, the ROI is currently 10 times bigger because the same reward pool is being split between 10 times fewer than projected miners.
This gives a current EDSMM APY of 200%. This will go down as more miners are issued but it took 6-7 months to issue all the first miners and I think this one will take just as long. So even if 12,500 miners are issued in 3 months' time, the miner APY would still be 40% because same reward pool, half the miners in circulation.
Hope that helps a little
silverstackeruk
Ah, makes sense. It certainly helps. Thanks!
I received some mining rewards hours ago. Very encouraging! I'll be sharing this post on Listnerds for more exposure.🙂
!PIZZA
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Awesome scooped up 50 of them! Hopefully I can get more!
Ohh, im glad you left a comment.
I was checking the richlist for them and i see your holding your liquid. Get them staked up and earnings.
Will do later or tomorrow, on a quick vacation trip thanks for letting me know!
Some feedback:
Think that should be EDSMM too right?
Link to hive-engine missing!
Thank you, got them fixed. 😊
You're welcome, think it helps prevent some confusion for people looking in to the project!
Great news - heading over to hive engine to buy some now !
!LUV
@eddie-earner, @hoosie(1/1) sent you LUV.
wallet | market | tools | discord | community | daily
Happy days
They will be on sale everyday so ya know,...free feel 😋
Thanks for the heads up and I put in a buy order over the weekend. I staked them a few hours ago.
Posted Using LeoFinance Beta
Great stuff. The ROI now is around 200% so you should have had some mining rewards already :)
Yes I just went through my logs and I got lucky in 2 lotteries so far.
Posted Using LeoFinance Beta
LOL. I feel like I'm late to the party.
I got my hardhat and pick axe ready.
I just wondered how this works with EDS only having 2 digits 🤔
That's a good question. The pay outs show .03.
It's the same with the "old" EDSM. The payouts only show 0.23, which is a bit more than it should be, I think.
Ok, found this post. 👍 🤗 Discord link is already unavailable 😅
Thanks for the information. That is important to know.