MAPX Report: News, Updates & Steem Economy - Hive - 21 March 2020
A brief communication to current MAPX members.
Our weekly accounts are due tomorrow, so do not wish to go deeply into the current numbers. However, the MAPX fund on Steem remains healthy and we have seen very few sales.
Our voters, on Steem, are working as normal, so there has been no further interruption of service on Steem.
One other piece of good news is that we have over 10k HP in Hive!
My policy of holding the majority of funds within Steem has paid off in this case. But, let me reiterate that MAPX will not be operating on Hive. We are going to focus our energies on just MAXUV, assuming we are able to create a new MAXUV-Hive token. I don't wish to go through the whole reasoning again, so please read this previous post.
Whatever one's own feelings about the philosophical, social and system issues surrounding the Steem-Tron saga, my main concern is to look after the funds that have been entrusted by members to MAPX.
So, the good news is that all that Hive Power will be distributed to MAPX members; the issue now is how to do it.
Plan A is to wait for Steem-Engine to create a similar "Hive-Engine" DEX. Then we can create a new MAXUV-Hive token and do a one-time airdrop of those new tokens to existing MAPX members in proportion to their holdings. The advantage here is that it would be a clean one-time event and can, hopefully, happen relatively soon.
Plan B is to power down that cache of HP and distribute it to MAPX members, again in proportion to their holdings. The disadvantage with this plan is that members need to wait 13 weeks for a full power-down. I could be magnanimous, and pay investors before management, but a quick calculation shows that it wouldn't make much difference as most tokens are held by members.
I notice that I was perhaps being a little optimistic yesterday about my preference to send members liquid HIVE. The reality is that, across the MAP FinTech programs, most of our HIVE is powered up! This means I can't just pay members with another account and wait for the power-down.
If anybody wishes to express an opinion, now is the time. I also hope people will appreciate that they will be getting something like 90% extra in HIVE compared to their STEEM invested in MAPX.
The situation may yet change swiftly, so please take the above as the most recent iteration of what will happen.
Have a fine weekend!
What is MAPX?
MAPX was our first "vote bond" in the MAP FinTech family of programs. It is designed to deliver a 0.1% upvote per token held, with a maximum holding of 1000 tokens. The fund has a total of just 10,000 tokens available. MAPX token holders also benefit from profits being compounded into SP so that the token price should slowly rise.
MAPX is thus designed like a bond in that "interest" is earnt as upvotes, plus each token is backed by STEEM so that the capital value slowly increases in line with our fund. MAPX is managed by the same team as MAPR, which has been distributing profits to Steemians for 20 months.
As MAPX tokens have nearly sold out, we would encourage new members to consider the open-ended token @MAXUV.
For the latest Steem news, please check @pennsif's daily aggregator.
This is the last of four articles mocking the crypto gaffes of the year.
This year is already filling up quickly.
A small plug for our big brother, MAXUV!
OK, time for some prizes!
Our winners are... N/A today, as we have been posting a lot and existing winners need to get their full share,
who get TRENDO tips for 10 days.
Enjoy your day!
We have opened up a former MAP channel on Discord for anyone seeking advice or more information regarding any MAP FinTech program. You can find us here.
ONECENT: The First Strategic Token Investment Game (STIG)