Hello, welcome to this weeks SPinvest update. As always let's jump straight into it.
SPinvest is now running a hive-engine witness
This week, I was able to set up a witness for the hive-engine sidechain. We are helping to decentralize the sidechain while earning BEE witness rewards with the account @spinvest-witness. We have already got a few witness votes and got into the top 20 but we need all the votes we can gather so if you have any workerbee staked, your vote would be much appreciated and help us climb the ranks. You can view the current witness list and vote by clicking here and visiting the tribalDEX site.
Vote the SPinvest HE witness today - Click Here
How our Tribe funding investment is performing
Many of our regular readers will be aware that SPinvest funded the music tribe Music4Life about 8 weeks back and i'd like to show you guys show results on how our investment is performing for us.
So the deal was, we funded 4200 HIVE to pay for everything to set up the tribe and we got 10% of all VIBES miners and 10% of the initial VIBES token airdrop which amounted to 10,000 tokens. We shared this investment with @brofund and went 50/50 but we also bought 1000 VIBES miners for @spinvest as well. Since launch, we have increased those VIBES holdings to 15,881 so we've increased from 58%. In terms of being a VIBES whale, at launch, we owned 10% of the circulating supply and today we still retain 9.6% of all VIBES. Let's look and see whats it all worth today.
Total investment was 2100 to fund tribe and 1500 for VIBES miners for a total of 3600 HIVE
- 2100 VIBES MINERS = 9,450 HIVE
- 15,880 VIBES = 3,160 HIVE
SPinvest's 50% is worth 6,305 HIVE
- 1000 VIBES MINERS = 4,500 HIVE
- 960 VIBES = 192 HIVE
Total is worth = 4692
Our total investment in M4L today is worth 10,997 HIVE giving us a paper profit of 7,397 HIVE. Not bad for a few hours of work, lets hope more see this success and take the chance and accept our funding to make more HIVE tribes.
Eddie Earner miners
I have to shill this every week, EDS miners. 1000 out of 2500 remain and with the price of HIVE mooning, the value of your weekly income increases. These miners are still paying out rewards at 40%. Each miner will mint new EDS tokens that are loosely pegged to 1 HIVE and each EDS will produce you a weekly HIVE income. The more EDS miners to buy, the more EDS tokens you mine, the EDS token you mine and hold, the bigger your HIVE income become. ROI on EDS tokens is current 21% and growing as each miner is sold.
Please see that for those looking to mine EDS tokens and cash out rewards, @eddie-earner will provide a limited buy back wall support at 1 HIVE per EDS tokens.
SPinvest has been expanding for almost 2 years now and much of the workload is on the shoulders of a few token holders. There are a few things I can think of that could be automated for SPinvest which would result in less work input and more accurate and real-time asset tracking. For us to grow room, SPinvest has to require less manual tracking and more automation. This is a lot of my fault and I've always been able to track everything but as I want to expand, I need more time and automating some things will help massively. As an example, think of something like the index token website, simple, to the point and easy to understand.
This would require us to set up a website but whether that website displays only information is interactive, we'll need one.
Would display all of the funds holding and their valuations in real-time giving us a live SPI token price. This might not be anything groundbreaking but for SPinvest, i means automated fund tracking and freed up man-hours.
Im no coder/dev and im not gonna pretend I knew big players. I know people who know people and we are not getting mate rates for dev work. I've been looking into farming clones and I have found a few websites with excellent reputations for building clones and maintaining defi for customers. I would have no ambition to create a defi farm but I would be interested in creating bSPI, bLBI and bEDS and creating a simple swap exchange where people could interchange between SPinvest tokens.
Of course one sounds much better than the other but the case might be that we launch an informational/live stats website and then upgrade up into an interactive one.
Not too many updates this week are thoughts this week, earning this week our up a little on last week, HIVE is starting to moon again. We're still on the grind and each day punished us forward to the goal of just collecting 100% passive income in maybe 20-30 years. haha.
As always, i hope your coming week is productive and that your bags pump
Posted Using LeoFinance Beta