Hello, SPIer's. Today is Sunday and we end the SPI week with our weekly dividend payment this evening and every Sunday at 21.00 GMT.
What is SPI?
SPI tokens are growth investment tokens that pay a weekly dividend. They have been circulating for over 2 years, on STEEMHIVE. Mostly sold for 1 HIVE, each token today is worth over 4 times its HIVE issue value and 12x its dollar value. On top of that, token holders receive roughly 8% more SPI's every year from weekly dividends. We raised $13k from issuing SPI tokens for the first year which has been used to grow a diverse portfolio of investments, many of which provide streams of passive incomes. SPI tokens are part ownership of all SPinvest tokens/accounts, assets and income. The price of each SPI token is its liquidation value as SPI tokens are 100% backed by holdings. Handcapped to roughly 94,000, no more can be minted are issued. Adding, hold and compounding has us on the road to major growth and these tokens are still growing in value.
SPI tokens are part ownership in an actively managed fund. We have our hands in over 20 investments with the lion share being HIVE, BTC & ETH. We dont FOMO are chase pipe dreams. Tried and tested works best and is safest. Our motto is "Get rich slowly" and compounding down on sound investments is our game. You should invest in SPI tokens with the mindset of not selling for 3-5 years minimum. Let's have a look at this week's on-chain HIVE earnings.
Earnings this week are on par with last week and it's looking like 400ish HIVE is ou new normal. I had hope hopes for LISTNERDS, im sure a few of you knew but it's looking like the token price is not holding up greatly. I have been unstaking 4000 LISTNERDS tokens per week for the past 6-7 weeks and it will be 3-4 weeks before our first unstaking comes in. I have cancelled the standing order to pay for membership which runs out on the 9th of Sept, i think we're done with this as the reward system recently changed to issued around 25% of the previous rewards and it not longer makes sense financly to keep doing this which is a shame as i'd put alot fo time into LISTNERDS for us with the hope it would last a while.
I have started to buy EDS tokens for SPI to give us an earnings boost. EDS is our project but we're paying for the tokens and to be honest, they pay us a 28% APY in HIVE so they are hard to resist. SPI can buy them, and provide some extra liquidity while boasting its earnings at the same time. 2 birds with 1 stone.
HIVE balances are still growing each week and HBD savings will pay out within the next day so, we're excepting over 130 HBD for this month's payment. EDS is still growing and with that our overall HIVE POWER balance. I do add some add week for SPI's balance but not that much as we're uploading only 3 posts per week. I will be flipping alot of our HBD in the future into HIVE to power up but thats not for a long time. I'd like to get at least 50k HIVE power added to the SPI balance but it might be 12-18 months before i convert the HBD in HIVE.
HE tokens this week are looking a little better but not much. Our main tokens being BRO and SEED look to holding up ok. I'd maybe need to take a little time to revalue our PUNKS as im not been active in tracking these the past while. DEFI is still growing as they issue out daily divs to us, we'll leave this to just compound and it's fingers crossed make a killing for this in 2-3 years times.
This week, we are down but not by a huge amount. The overall crypto markets are down on last week so our holdings follow that. EMP has gone underpeg again as another whale dumps and it's dropped down to 0.85. I'd hoped after last time, that this would not happen again so quickly. It'll regain peg im sure as the community behind it is strong but at the same time im aware its model is based on most people playing the EMP game strategy. It's gone from an in my mind A rated defi project to a B rating. They seem to be to exposed to whale dumping. With time as more is locked up and TVL grows, this will be less of a problem but for now, B.
JK is still busy growing things on CUB farms and compounding things down. No big changes this week in our crypto or defi holdings, just that we have a little more :)
Solid week all round, the price of the SPI token is down a tiny bit but whats not down over the past few days? Im trying to think up new ways to increase our weekly dividends but there's not alot on offer on HE as far as investment/income tokens go on Hive-engine. I have been testing out WOO delegation for the past week with mixed results. We can earn 30% with HP but we're paid in staked WOO which takes 4 weeks to unstake. I will do a weekly claim and unstaking with our first WOO unstaking coming in next week.
Small update about the SPI Royalty Rewards. I have placed an order for SPI merch and it's taking longer than expected to receive the order. I have got an email to confirm they have printed to produce our stuff but that was over a week ago and there have been no status updates since. I will give an update when I receive the stuff and a few days after will announce an SPI token snapshot date and proper rules and conditions around rewards and the SPI lotto and stuff. Im actually looking forward to writing about the lotto as it's something I've tried before in the past and failed at. HIVE needs a good lotto but there are not enough active users to sustain one, to build up a huge jackpot to incentive people to buy tickets. Anyways that's something to look forward to.
Overall in the markets this week, there has been alot of doom and gloom reported, ETH's mooning has stopped and it's dropped back to under $1500 with the rest of the market dropping along with it. People are scared of interest rate increases and are cash-poor because the cost of everything is going through the roof. In the UK, the regulation board has just permitted an 80% increase in household energy costs for energy companies to increase price by that much. Times are hard for alot of people and they are only going to get worse over the next year. Now is the time, if you can to put dollar cost averaging into place and grab some bargains. Investing a small amount each week/month for the next 18-24 months could be very profitable in 3-4 years time. It's going to get hard but you must diamond hand it cause when you sell something and think to yourself, you'll buy it back, you dont.
Right folks, thats about all i have this week. SPI dividends will go out this evening. Have a great Sunday, im off to bed to get a few hours sleep before work. Keep er 😀
Thank you for taking the time to read through this week's SPI earnings and holding report. We post every Sunday to keep our investors up to date so please follow the account if you would like to track our progress.