MAP Rewarder: MAPR Payouts to Delegators and Price Increase for Token-Holders for 14 September 2020 (19.0% APR)
Earn significant passive income with STEEM without locking SP by investing in MAPR tokens.
This week's distributed profits are 0.363%, equivalent to 19.0% APR and 21.0% APY.
This is higher than most individuals can earn from vesting their own STEEM.
There is a lot of information to get through today, so please read the News below very carefully.
General Info
Remember that MAPR has a unique distribution and pricing system. If you look at the MAPR tokens you, as delegator, have received today, multiply that number by the new official BUY Price and you get the same amount in STEEM as you would have done under the old system of just paying out STEEM transfers.
Token-holders receive no token distribution, unless they are also delegators. Their profit comes in the token price increase.
The added bonus is that if you don't sell this week's tokens, then next week their value will rise to at least the new BUY Price. This is how the token allows compounding of profits, for both delegators and token-holders.
Using the language of investment trusts, delegators hold "income" stakes where the "interest" is paid out in tokens, whereas token-holders have "capital" stakes where the profit is added to the token price.
A reminder that new delegations start to earn 2 days after the day of delegation. This means that the first week's payout will be lower than for a 7-day week. Also, as payouts are done on Mondays, delegating on a Saturday or Sunday will yield no distribution till the following week. This has always been in place and is to avoid people trying to game the distribution. The positive part is that there is no unstaking period for the tokens, merely the standard waiting time for undelegating.
MAPR: The Numbers
All these numbers relate to a 7-day period (Monday to Sunday) and calculated in STEEM per SP.
Value of Steem upvotes = APR 40.9% [1a], 23.3% [1b], 22.5% [1c]
Value of Steem author rewards payouts = APR 19.2% [2a], 10.9% [2b], 10.6% [2c]
Distributed MAPR payouts = 0.363% (APR 19.0%) [3]
Projected Compounded APY 21.0% [4]
Average APR 18.4% (26-weeks)
MAPR BUY Price: 1.1920 STEEM [5]
MAPR Price increase = +4.4% APR
MAPR SELL Price: 1.2220 STEEM [6]
[1] Theoretical maximum value of Steem upvotes, assuming 10 full upvotes at 100% power for 7 days, averaged over 7 days and expressed as an APR. This calculation was performed for an SP of 1 million STEEM to be as close as possible to linearity. Your own upvote will be somewhere between 50-100% of this value.
The values are now calculated for three levels of voting power: 1 million SP (a); 10,000 SP (b); and 1,000 SP (c).
[2] Theoretical value of Steem upvote author rewards, assuming 50% curation rewards, 50-50 split of post payouts and SBD print rate, averaged over 7 days and expressed as an APR. Your own author rewards will be somewhere between 50-100% of this value.
[3] MAP Rewarder distributed payout sent to delegators this week as tokens and the MAPR price adjusted to reflect this.
[4] Equivalent compounded yield as an APY for this week's distribution in [3]. We now have enough data to give a better historical picture of progress and have including a 26-week average to give a measure of medium-term returns.
[5] Our BUY price is the price you may sell your MAPR tokens such that their value in STEEM is the same as if this week's distribution was done by direct STEEM transfer.
[6] Our SELL price is about 1% above the BUY price.
Our MAPR distribution [3] is much higher than the average blockchain author rewards for most users [2b & 2c].
Profits will be paid today in the new MAPR tokens. The token buy-backs on Steem-Engine may need to wait a few hours for our power-down to take place.
MAPR News
Our income has been holding up at the 19% APR level! This week is actually 18.95%, so down a whisker from last week but still 19.0% rounded up. This means income is significantly higher than most users are receiving, see [2b] and [2c], and our compounded rate is now again above the author rewards expected from a 1 million SP vote (see [2a]).
The last couple of weeks have seen a sharp drop in coin prices. Perhaps surprisingly to some, this in itself does not hugely affect the blockchain's vote yield. However, with SBD below $1, that does affect income for those taking their rewards as a 50/50 SP/SBD split. As predicted last week, the author rewards value is, indeed, below half the full vote value.
I've been thinking about this for a few weeks and have decided to let the token price take the strain of further fund adjustments. This is now probably the third wave of write-downs of third-party tokens, and I may actually take some of the value from the new M token to balance some lost capital. Managing the income to capital balance has always been part of managing the overall fund. What I have noticed is that we have had very few actual token sales recently - members may well have bought tokens but not from the fund account, hence is not a source of fresh capital. This means that MAPR has morphed back into its original pre-tokenised setup and is largely a delegators' fund. This makes sense as MAXUV has the bonus of casting member votes, even though it does not accept delegators. So, I'm going to let the token price drift up more slowly so that it is closer to the overall asset value. As this was always the intention, that the token price would be correlated to the capital assets, this is just a way to bring the fund back into balance without any shocks - we've had (and have) plenty of those elsewhere.
One small issue regarding power-downs: the 4-week period is useful but it means manually updating it more frequently. This means that each week's new ABV price may have a modest amount of tokens for a day or two until such power-downs have been converted to STEEMP. This is no cause for concern, just an awareness that one may need to wait an extra day. It is impossible to bring a power-down date forward without skipping a week. This is also why these posts tend to now be published on a Tuesday, to coincide with the power-down, even though the token distributions are still done on a Monday.
I now note that there is a small backlog of pending sales. This is a market and such sales are also an opportunity for buyers to accumulate some MAPR tokens that are much cheaper than our official sale price.
We shall continue to generate yields that are as high as we can given the economic model and in the hope that activity - voting rshares activity - will pick up further.
And finally, although our weekly returns are variable, here is a graph of how the token price has been performing since the MAPR token was launched. (Thanks to @gerber for the discord-bot.)
MAP Rewarder, without the token, has been in operation for some 30 months, so you can extrapolate back from that graph to get an idea of our returns to members. We celebrated 2 years of operations at the start of February.
Anyway, don't panic! We may need to flatten the curve slightly but, to be honest, this is the least of our worries.
See you next week!
Next rewards distribution will be on Monday 21 September.
[BUY MAXUV] - [READ MAXUV]
[BUY MAPR] - [READ MAP REWARDER]
ONECENT: The First Strategic Token Investment Game (STIG)
Muchas gracias por la información de MAPR , se ve muy interesante.
Hello friend @accelerator, good information, I would like a simple explanation of how to participate here.
If I make the decision to participate, what should I do? Buy the token? delegate?
Please I need information as it is...
Hi, MAPR is designed primarily for delegators, so to participate please delegate to @accelerator. Please also note that the first week's earnings are adjusted for the day of delegation.
Our other fund, MAXUV, is for token-holders and regular posters, and to participate there just buy the MAXUV tokens on Steem-Engine.
Thanks
@tipu curate
Upvoted 👌 (Mana: 4/6) Passive income with @tipU :)
very interesting, I would like to know how much to delegate how much is approximately the benefits per delegated amount, you hear I find it an interesting idea.
The amount is variable and listed above. The weekly return is usually between 0.3 and 0.4%, then adjusted for the weekly rise in token price. So, say a 1000 SP delegation will yield a payout of 3.63 STEEM as about 3.05 MAPR tokens. If kept, those tokens compound in value every week as the token price rises.