The 'Undervaluation' of PNUT (2021-08-24): 26.2%

bsfmalaysia (63)in NutBox • 3 years ago

1000 PNUT can buy 10% upvote from @nutbox.mine. Since #trxintegration, every upvote comes with Trx bonus corresponding to SP reward in 1:1 equinumerically (i.e. 1 Trx for every SP in author and curation reward).

At the moment of writing, 10% upvote of @nutbox.mine is 14.36 SP + 8.85 SBD + 14.36 TRX (assuming 50%/50% payout setting, which is the most profitable curently as SBD > $1 USD).

Steem price is $0.5927, SBD price is $8.05 and TRX price (JustSwap) is $0.0891. So, the total value of 10% upvote from @nutbox.mine is $81.03.

Author receives 50% from upvote rewards, which is $40.51.

Hence, the 'ideal' price of PNUT should be:

PNUT Price = 0.5 x [$81.03]/1000 = $0.04051

The real-time price of PNUT on JustSwap is $0.0299, which is significantly lower than the 'ideal' price. This 'undervaluation' is to compensate for the illiquidity of upvote rewards (they're only claimable after 7 days), especially SP (which takes a further 28 days to power down fully to tradable Steem).

Today's PNUT 'undervaluation' (26.2%) is significantly lower than the last 10 days (32.2% - 38.7%), most likely due to the official launch of Nutbox Walnut network which drives up the price of PNUT.

Date	Steem Price	SBD Price	TRX Price	PNUT Real Price	PNUT 'Ideal' Price	PNUT 'Undervaluation' (%)
2021-08-12	0.5	7.87	0.0838	0.0271	0.03999	32.2
2021-08-15	0.59	8.31	0.0928	0.0283	0.04302	34.2
2021-08-18	0.55	7.46	0.0855	0.0248	0.03929	36.9
2021-08-21	0.56	7.68	0.0895	0.0256	0.04178	38.7
2021-08-24	0.5927	8.05	0.0891	0.0299	0.04051	26.2

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