MAXUV Weekly Statement & Token Distribution - 14 June 2020 [MAP Steem FinTech]

in #crypto4 years ago

Welcome to our weekly MAXUV account statement.

Our hybrid votes-and-rewards model seems to be working well, with total income significantly higher than anything else I've seen.

This week has seen a modest rise in active tokens and also a significant increase in capital. This means our ABV has risen from 0.43 to 0.49 STEEM and our total returns are an astonishing 46% APR!

Our weekly buy-back at 0.90 STEEM is there for the benefit of those who wish to redeem their new tokens, so will remain in line with such earnings. Anybody wishing to sell, or buy, can use the market - that's why it exists. I now see quite a few tokens for sale below that level, so I have adjusted the weekly power-downs to buy those back, but they are also an opportunity for buyers.

Although still in "transition phase", I think the new model is working well and members enjoy the mixture of votes and rewards. This phase is, therefore, less about the new model and more about getting our fund value back up; recall we had a lot of extra tokens from the winding down of MAPX and MAPXV without their STEEM value. The new 4-week power-down now enables us to achieve this capitalisation much faster. Our ABV has increased further, from 43 to 49 STEEM cents.

A reminder that the benefits of MAXUV are not predicated on the fund's ABV but on the votes and income generated. Even at the start, many tokens were given away free for contests, so we hovered somewhere within the 90-cents range. It would, of course, make a difference were we to close down but there is no plan, as yet, to do so and, as always, we let members liquidate before any management accounts.

A reminder from previous posts, that the voting will remain at 100% for 2,000 tokens, but the capital limit has been raised to 5,000 tokens for a share in the weekly rewards.

It is no longer possible to give a single figure for potential earnings as this depends both on the number of tokens held and the number of posts made and upvoted. We can, however, give an estimate of a 2000 MAXUV token-holder posting once per day and including the token reward distribution. On average, this week, such a user can expect about 17.9 STEEM per week. This is equivalent to about 46.6% APR.

We have seen another increase in the reward distribution and a further increase in vote-value. That 17.9 STEEM value comes from about 3.7 STEEM from the rewards and 14.2 STEEM from upvotes. The Steem blockchain continues to produce historically high upvotes, and this figure is already adjusted for the reward curve but not for author rewards as those depend on a member's own strategic voting and curation rewards. However, a large part of the curation rewards are then paid out in our distribution, hence the total benefits are very close to being equivalent to a whale account.

This is really good value in a market where delegation leases are at about 18% APR, and even then you'd need to delegate at least 1,000 SP. I know that many members will experience a lower return but that is largely due to the non-linear nature of the new reward curve. However, the reward distributions are proportional to the tokens held and make up for this.

These returns are unprecedented and wholly due to Steem's increasing vote value. I am not sure how sustainable this is but we shall continue to share such benefits with members.

One thing that is becoming clear, however, is that our ABV will not be reaching the 90-cent level any time soon. I was perhaps overly generous in the token swaps we did for MAPX and MAPXV tokens, in the sense that the prices were set given the total holdings at the time, and some of the tokens have pretty much evaporated in value. There is nothing I can do about this now, so just enjoy the earnings and watch the ABV rise every week.

The difference between MAXUV and MAPR is that MAXUV will have no delegators and will be paying out in MAXUV tokens whereas MAPR does accept delegators, pays out in tokens to auto-compound but does not give upvotes nor measures posting activity.

I hope these two programs will help members achieve greater rewards from both staking and posting.

Enjoy your week!



The MAXUV headline figures are:

MAXUV tokens active = 31,675
SP in MAXUV = 14,349
Voting SP = 23,300
Other STEEM = 1313
Total STEEM = 15,662

MAXUV ABV = 0.49 STEEM

Estimated Earnings = 8.9 STEEM per 1000 MAXUV = 46.6% APR

Total MAXUV Distribution = 57.80 STEEM

Note that "Other STEEM" is the sum of all holdings not powered up as SP: liquid STEEM and SBD plus holdings within Steem Engine. Also note that such values are volatile, especially any holdings priced in US$, so the above numbers are a snapshot and may have changed when you look at the @MAXUV account.

The Asset Backed Value (ABV) is our total holdings calculated in STEEM divided by the number of active MAXUV tokens.

Full details of how the MAXUV token operates can be found at our launch document.

Any questions, please ask in the comments below or in our public chatroom.



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Thanks, but does BEER still function on Steem?
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