Passive Income without Staking?
I got stuck again. However, I still do my usual daily activity on Hive. The first thing I do in the morning is to check hiveblocks.com to go straight to ecency.com to check notifications. I will then respond and upvote the replies after which I will go next to hivestats.io.
On hivestats.io, I will check the top 15 LeoFinance posts, comment on articles I like, and will immediately share them on twitter.com. Typically, while on leofinance.io, I usually click on Daily Crypto Market Live Blog and Threads and will maintain them open while I am reading articles both on LeoFinance and coinmarkets.today. Any post below 240 characters will go to Threads. Beyond that limit will be posted to Daily Crypto Market Live Blog.
Around 1:00 PM, I will open ListNerds and will check my inbox. As usual, I will comment on any content that caught my attention and will either share them on Threads or twitter.com.
The foregoing is my definition of being stuck.
Though I still do my regular daily activity on Hive, I think it’s more or less five days already since I published my last post. I was supposed to write for Splinterlands and ListNerds, but somehow, I feel tired.
Yesterday, I stumbled upon an interesting token. Though @shanibeer introduced to me this token a month ago, I did not dig deeper into the story of the token except by browsing one or two articles about it.
Today, I decided to spend my time checking EDS. To start, I went to @eddie-earner’s profile, and I am impressed with what I found.
My initial impression is that Eddie has been consistent so far with his plan for this token.
Revisiting the Token’s History
Retracing the history of the token, I started from the day it was introduced to Hive. I won’t repeat here everything said in this 25 August 2020 article. I will only mention things that interest me. Of course, for those who have been into EDS since its introduction, this is old news. But for a newcomer like me, I need something to guide me in my understanding of this token.
The Token has a Good Reputation
I read and saw a lot of good things about EDS.
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.
Checking the Rich List on LeoDex, I stumbled upon four familiar names that are holders of EDS: @taskmaster4450, @brofund, @justclickindiva, and @bozz. This somehow boosts my confidence in this token. I think there is something in this project.
As a result of my conversation with @shanibeer, I made an initial purchase of 7.58 EDS a month ago. Since then, every Monday I have been receiving a notification that a certain amount of HIVE is being sent to my account. Later, I read in the Weekly Report that the token’s APY reached 29.85%.
I plan that while I am still exploring the history and the progress of the token for the past two years, I decided to increase my holdings to 100.
Eddie’s Plan for EDS
Returning to that introduction article, from the opening paragraph, you can read Eddie’s intention for the token. He wanted to make EDS a “HIVE income token that increases payments over time.”
And then he talks about how EDS can be a solution to inflation. He aims for EDS to be an “inflation-proof HIVE income.” He describes this as the “bumblebee’s special power.”
His offer appears too good to be true bordering to be unbelievable for not a few. He is offering us a passive income without staking. The dividend will be distributed every week. His initial offer was a 12% annual ROI with a promise that it will increase by 10% per year. All he is asking for holders is to have a long-term mindset.
What an astounding offer! EDS price is pegged to 1 HIVE per token. After almost two years, its price remains the same. That to me spells consistency, reliability, and sustainability that token issuers have to learn.
The token was officially launched last 18 September 2020. 20,000 tokens were issued. Eight days from now, the token will be in its second year. They say, “in crypto, six months is already equivalent to eternity.” Most projects die too early for the developers who are big on promises but short when it comes to fulfilling them. In EDS, we see a token, which is now entering its fourth eternal cycle if such a thing exists.
Checking leodex.io, it was recorded there that the maximum supply of the token is 500,000 and that the circulating supply is now 27,326.66.
I think that’s it for this remarkable token that offers passive income without staking. I still have so much content to catch up on.