By default, the current "MySQL EBS" ServerTemplate automatically performs backups and saves the last 60 EBS snapshots.
If you require more than the last 60 backups you can also have the option of controlling how many daily, weekly, monthly, or yearly snapshots to archive. The snapshot archiving logic will look at a snapshot's prefix to determine if it belongs in a snapshot series. Therefore, you can always manually change a snapshot's name to remove it from the Archiving EBS Snapshots logic. As long as the snapshot's name does not have the prefix "DB_EBS_PREFIX-slave-" or DB_EBS_PREFIX-master-" it will not be deleted.
To learn how to configure daily, weekly, monthly, yearly backups, see Archiving of EBS Snapshots.
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