LBI's September 2024 Recap.

3 months ago

Last month, I put out a recap post of all the things that had happened over August for the LBI fund. It had been a busy month, so there was lots to talk about, and the post was a popular one, with a nice payout and lots of engagement. I think there is value in a monthly update, beyond the day to day and weekly numbers updates, to focus on the big picture, and any major changes made during the month.

August's recap was full of big moves and major changes, as it was the first month of LBI under new management. To see how it want, here is the post:
https://inleo.io/@lbi-token/lbi-august-2024-recap-9vv

So Let's now dive in to September.

The major changes that happened for LBI over the last month centered around a withdrawal from HBD savings of 1000 HBD. This was traded into HIVE, and then split among several different investments. Other than that, it has been a much more steady month than August, as you would expect after moving from takeover mode, with big changes made, into regular mode, where we move into the grind of waiting for organic growth and compounding to do its thing.

EDS wallet changes.

Early in the month, I had been working on some significant alterations to our EDS wallet. @lbi-eds was initially set up with 5000 Hive powered up and delegated to @eds-vote for a weekly drop of EDS. The other 5000 Hive used to fund this wallet was swapped to HBD, and then used to buy EDSD - a HBD pegged token providing EDS weekly minted and backed by HBD interest. Anyway, in September, I redeemed most of those EDSD back to HBD and then back to HIVE. A large amount of EDSMM (EDS Mini-miners) became available to purchase, at a fair price. These would mint us EDS at a faster rate than the EDSD tokens.

When I first announced the move, in the following post, we had purchased 3311 EDSMM. In a subsequent purchase, made from part of the HBD savings withdrawal, that amount was rounded up to an even 4000.

https://inleo.io/@lbi-token/major-change-for-our-eds-wallet-9ba

So, is it working?

So, in the 2nd Sep weekly update post, we had 68.38 EDS. As of the time of this post, we have 178.44. We have added 110 EDS in a month.

Over the month, the EDSD would have minted us approximately 35 EDS.
During the month I purchased 22.96 EDS with spare funds, and we minted 19.36 EDS from our HP delegation, and 3.32 from the remaining EDSD.
This means our EDSMM minted us 64.42. It is hard to compare directly as more miners were added half way through the month, skewing the results a bit. But overall, I do believe we are around 20 - 30 EDS minted better off per month.
The wallets overall value is up $400 for the month, with around $250 added funds as part of that (the second EDSMM purchase and a few EDS bought directly.
All of this makes me quite satisfied that swapping from EDSD to EDSMM was the right call, for the long run.

SIM wallet addition.

Part of the funds from the HBD unlock went to establishing a new wallet, @lbi-sim. This was funded with 1000 HIVE, and added to the SIM/swap.HIVE liquidity pool.

https://inleo.io/@lbi-token/weve-set-up-another-new-wallet-kae

Since setting this up, the price of SIM has been steady, and the wallet has been compounding all the SIM earned from LP rewards back into the pool. HIVE is also earned, paid as liquid HIVE based on an average of 30 days of total SIM holdings. This LP was the inspiration for me wanting to include LBI tokens in the LP in the dividend calculations for LBI, meaning an extra incentive to LP. Anyway, our SIM power has grown steadily and once it rises to close to our full SIM holding we should be earning a steady 0.4 HIVE per day. Not a big number, but if I can add to the pool a bit over time it'll grow.

DAB wallet upgrade.

Here is one I didn't directly post about oat the time, but one of the places I put funds from the HBD withdrawal was into buying a bunch of DBOND tokens, to speed up our DAB mintage. The RUG portion of this wallet remains untouched, and the boosted DBOND balance has had the desired effect. DAB mintage has become more regular, and the subsequent daily HIVE drip is growing.

The overall plan here has not changed.

RUG mints DBOND
Most DBOND stays staked.
A small portion of DBOND unstaked and sold each day to add to income.
DBOND mints DAB
DAB mints HIVE which adds to income.

PWR wallet upgrade.

During the month, the other major changes were made to boost our position in the PWR token. The delegation to @empo.voter was increased significantly, to 7500 HP. This has boosted our daily PWR income to 1.6 per day. I also added 1000 HIVE to the wallet from the HBD withdrawal and put these funds into the pool.

Here is the post were I discussed these changes.
https://inleo.io/@lbi-token/lbi-increases-its-power-den

Since then, @empoderat has announced a major boost to the LP rewards for the PWR/HIVE pool, which brought the APR up to 25%. This has given us a significant boost to our income, and to be honest, I only wish I had pulled more out of savings and made a bigger investment into this pool.

You can see the announcement post for this APR boost for the pool here:
https://inleo.io/@empoderat/pwr-pool-adjustments-divs-increased

My goal is to find ways over October to boost this wallet further, and grow the delegation.

One more thing to note is that this project has been the most reliable for us in terms of rewards pay outs. Many of our other investments have been glitchy lately. BXT has faltered a bit lately, as has SIM and BRO in terms of regular daily payouts. Also, we all know how the reliability of @leo.voter has been, although hopefully the worst is over for this. Time will tell. The only really reliable payouts have been the layer one tokens (HP, curation rewards, HBD interest etc) INCOME and PWR.

So, those have been the main changes made over the month of September. Here is a few questions for you...

What do you think of the above changes?
Would you have done anything different?
What would you like to see me change during October?

Let me know in the comments section.

Thanks for reviewing this monthly update post.

Cheers,

JK.

For more info and updates on LBI, here is some more content for you:
https://inleo.io/@lbi-token/lbi-weekly-holdings-and-income-report-week-9-week-ending-29-sep-2024-4wb
https://inleo.io/@lbi-token/dividends-resume-for-lbi-holders-bci
https://inleo.io/@lbi-token/do-you-remember-cublife-3pu

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3 comments

@bozz80

3 months ago

That's interesting the move from EDSD to EDSMM. I have some EDSD though not a ton and I felt it was a good move to hold it to grow my EDS tokens. What do you do with your EDS tokens? Just hold them for HIVE drip or are you eventually going to sell them outright?

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@lbi-token75

3 months ago(edited)

The EDSD mint well when HIVE is at lower prices. However, for LBI we have spent around 7900 HIVE on the miners in total, which was worth Approx 1425 HBD total. (1100 was from the EDSD unwrap, and the rest was from the HBD withdrawal) HIVE would have to drop to a price below $0.14 for for 1425 EDSD to mint more EDS than the miners. In fact, our exact breakeven point for EDS mintage would be at $0.134 Hive price. At any price above $0.134 HIVE, we are better off with the EDSMM tokens.

Of course the above calculations would have been very different if HBD interest had stayed at 20%...

EDS tokens are a long term hold for LBI. They are valued on our balance sheet at 1 HIVE each, so I could in theory sell them above that to boost the value per token, but the long term plan is to hold EDS forever, and put the weekly HIVE drip into the income fund.