MAXUV Weekly Statement & Token Distribution - 26 April 2020 [MAP Steem FinTech]

Welcome to our weekly MAXUV account statement.

MAXUV token holders will now see their airdropped MPATH tokens! Please read this post carefully as MAXUV and MPATH are not as yet fully disentangled. The aim is to make them operate independently, and we have made a start on that by creating the new token.

This also means that the official MAXUV market price has now come back down to 1 STEEM.

We shall also have a small weekly buy-back at 0.90 STEEM that is equivalent to the distribution of reward tokens. If the market price drops below this, then that's just the nature of the marketplace. MAXUV remains operational on Steem so there is no reason to initiate a full buy-back. You are also free to sell your tokens at any price you wish.

As mentioned last week, the winding-down process for both MAPX and MAPXV has now lasted a month and the deadline has passed to take advantage of the offer of exchanging those tokens on both chains. For two weeks from now, we shall accept redemption of those MAPX and MAPXV tokens for Steem-based assets only, that means either MAXUV tokens or liquid STEEM.

Hence, the next key date is Saturday 9 May. Those token-holders that do not respond by that date will have their MAPX and MAPXV tokens automatically converted to MAXUV tokens on a 1:1 basis. That will then be the final closure of those two token programs.

Those redemptions that are in a queue will, obviously, be honoured as per the original offer. This looks as if it will still take about 3 weeks to fully pay out. But it does mean that MAXUV will henceforth enjoy some price stability and a gradual return back to an ABV closer to 1 STEEM.

None of this really affects MAXUV token-holders, apart from those who also hold those winding-down tokens and who haven't been paying attention. That's the only reason for mentioning the process here in some depth.

MAXUV itself continues to be in a transition phase, with members receiving both upvotes and weekly rewards as tokens. This will continue for at least the next 4 weeks as I seek more feedback. I have expressed my opinion that members would actually get greater income if we moved to a distribution-only model, but many members seem to like the upvotes. Although upvotes may look good, authors are getting just half of the headline pending rewards. I shall delve deeper into the numbers in the future as there are enough other issues to resolve first.

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.

We are working on automating this distribution and the formula to be used in our calculations. However, as members continue to receive upvotes, the payouts will be purely based on the tokens held.

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, such a user can expect about 9.49 STEEM per week. This is equivalent to about 24.6% APR, up from last week's 22.1% APR.

This is really good value in a market where delegation leases are at about 15% 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.

For those of you who watch such numbers, our ABV has dropped considerably but this is temporary and will be back up as soon as we are able to transfer funds from the two tokens winding down. This will take a number of weeks, but the estimated earnings take into account our actual SP and actual reward income so that members will not really notice the transitioning. The ABV may, indeed, fall further before it starts to rise again.

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 = 32,880
SP in MAXUV = 10,146
Voting SP = 18,970
Other STEEM = 102
Total STEEM = 10,248

MAXUV ABV = 0.31 STEEM

Estimated Earnings = 4.74 STEEM per 1000 MAXUV = 24.6% APR
Total MAXUV Distribution = 37.50 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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