MAXUV Weekly Statement & Token Distribution - 21 June 2020 [MAP Steem FinTech]

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 drop in active tokens and also a significant increase in capital. This means our ABV has risen from 0.49 to 0.56 STEEM and our total returns are an astonishing 51% 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.

Now, as the Steem blockchain continues to produce - in theory - astonishingly high returns, I have been thinking whether to adjust the way we describe our own returns. As I've always said, the vote estimates are already scaled down to include the effect of the reward curve. However, we have left them as the gross vote and have not then made the further adjustment of estimating the author rewards.

Just to show you the difference it makes: this week our gross rewards going out come to about 51.9% APR, but adjusted for the net author rewards it comes to 31.5% APR. Still great, but not astronomical. Indeed, is actually still higher than a self-vote with the same SP. I shall publish both figures for a few weeks and see if members respond with their preference. The Net value is more than half the Gross value because the income and reward distributions remain unaffected.

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.

This is really good value in a market where delegation leases are at about 19% APR, and even then you'd need to delegate at least 1,000 SP. I know that many members will experience fluctuating returns on votes 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.

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!

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The MAXUV headline figures are:

MAXUV tokens active = 30,680
SP in MAXUV = 15,299
Voting SP = 24,260
Other STEEM = 1880
Total STEEM = 17,179

MAXUV ABV = 0.56 STEEM

Estimated Gross Earnings = 9.98 STEEM per 1000 MAXUV = 51.9% APR
(9.98 = 7.85 votes + 2.13 income)
Estimated Net Earnings = 6.05 STEEM per 1000 MAXUV = 31.5% APR
(6.05 = 3.92 votes + 2.13 income)

Total MAXUV Distribution = 65.10 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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