MAP Rewarder: Distributed Rewards for 1 July 2018 (APR 18.6%)

accelerator (67)in #investing • 6 years ago

This week's distributed profits are 0.356%, equivalent to an APR of 18.6%.

I write this in the middle of a turbulent market. The values below may be very different in just a few hours, yet are still a useful snapshot to gauge the MAPR returns.

Let's lay out the different percentages to make them clearer. These are all calculated in terms of STEEM per SP.

Gross income inc. payouts = 0.506% [1]
Gross income ex-payouts = 0.445% [2]
Value of Steemit upvotes = 0.45% [3]
Adjusted value of Steemit upvotes = 0.269% (APR 14.0%) [4]
Distributed MAPR payouts = 0.356% (APR 18.6%) [5]
Total MAPR payouts = 0.417% [6]

[1] Gross income generated for the week.
[2] Gross income minus the random free upvotes, SBI shares given to delegators and MAP upvotes.
[3] Theoretical maximum value of Steemit upvotes, assuming 10 full upvotes at 100% power for 7 days.
[4] Theoretical value of Steemit upvote rewards, assuming 25% curation rewards, 50-50 split of post payouts and SBD print rate.
[5] MAP Rewarder distributed payout sent to delegators this week; this is 80% of [2].
[6] Total payouts for the week, equal to {[5] + [1] - [2]}.

Notice that MAP Rewarder is able to generate income higher than the theoretical maximum for pure upvotes - that is, [1] is greater than [3]. This includes upvotes to quality content creators and MAP members.

Notice that this week our total value of payouts and upvotes is slightly lower than the theoretical maximum for pure upvotes - that is, [6] is slightly lower than [3]. This is due mainly to the falling value of the "SBD print rate". Note that [3] is purely a function of the Steem ecosystem and is calculated based on the rewards balance and claims; an SBD print rate of zero would still not affect this value directly. The value moves slowly but continues to drift lower.

Finally, our weekly distributed profits to delegators is significantly higher than post rewards payouts - that is, [5] is higher than [4].

Profits will be paid today to SP delegators in STEEM.

To delegate SP to MAP Rewarder, please read our Introduction document.

You can also delegate using these links:

10 SP, 20 SP, 50 SP, 100 SP, 500 SP, Other.

If you do not have spare SP to delegate, then you can still follow our Curation Trail or Fanbase on SteemAuto (or follow us on Steem Voter), and gain some higher-than-average curation rewards; please read the Advice section below.

New Features - Random 100% Upvotes and Free SBI

I notice that many of our delegators have relatively modest amounts of SP delegated to MAP Rewarder. I appreciate their support, and they are earning a nice yield, but the weekly payouts obviously seem quite small. As part of MAP's mission is to support minnows, we continue to give out two new forms of payout on top of the existing distribution: a random 100% upvote and a free SBI (SteemBasicIncome) share.

At the moment, this will be one random 100% upvote, given on a Friday. The only requirement is that the delegator must have published a post within the last 3 days that can be upvoted. I shall run a random number generator to select the winner; this will exclude accounts that manage MAP.

The SBI will be given out on a Saturday, please see MAP Rewarder Free SBI Saturday. Again, as SBIs are only valuable to upvote posts, the winner must show that they are posting regularly.

I hope this will stimulate some further delegations and will help some users make a significant return on their SP. But please remember that the first distributed profits will be received on the first Sunday after 7 day from the time of delegation - the cut-off is midday GMT on Sundays.

News

I have changed the layout of our numerical data; I hope the different numbers are slightly clearer!

Much of what I used to write here in the News section can now be read at the top of the article as addenda to the table.

All our percentages are calculated like-for-like based on STEEM so that these are real returns in STEEM per delegated SP (which is also priced in STEEM).

Those of you who delegate to bidbots and other income sources should look at your actual returns as a percentage of SP, priced in STEEM, rather than just SBD. I shall continue the current mixed strategy and see how this affects the following week.

A reminder that we have two missions: to be profitable to delegators and to support our minnow content creators. The @accelerator account, ignoring the delegated SP, is growing slowly but steadily and forms the basis of our upvotes to minnows who are MAP members.

Important News

We are in the middle of very turbulent conditions. This is a consequence of the whole crypto market and not isolated to STEEM and SBD. However, there are also features of the Steem blockchain that users need to be aware of.

The SBD print rate is currently 24%; you can see this on steemd.com at the foot of the right column. This means that, if you are receiving rewards at 50-50 split, you will receive only 24% of that 50% in SBD (so 12%) with the other 76% converted to STEEM. This makes no difference to the value in US$, as shown on a post's pending rewards, but it does mean that the actual payouts are now close to those pending rewards - there is no longer an "uplift" because of the high SBD price.

The SBD print rate has, in the distant past, fallen to 0%, meaning that all payouts are done in SP and STEEM. I am not privy to the current plan, but as SBD has spiked up this weekend, and is currently worth about US$1.20, I wonder whether the sought "dollar peg" of SBD has been achieved. The SBD print rate is tied to the relative market caps of SBD to STEEM so is not a direct pegging mechanism, in the sense that it is not triggered by the actual US$ price. We shall have to wait and see whether this mechanism has the desired effect.

Advice

As part of our MAP Rewarder strategy, all posts by @accelerator will, at some point, receive further upvotes. I usually leave this for a few hours to allow our followers to upvote our posts before the arrival of a larger upvote. I know that a few have noticed this and are taking advantage of the opportunity to earn some extra curation rewards. Look at any post with large upvotes and you will see that some of the early upvoters are earning back even more than their upvote! The power of mathematics. :-)

To do so means either following just the posts of @accelerator or also the upvotes given out. This can be done within an app such as SteemAuto. Using the language used on SteemAuto, following and upvoting just the @accelerator posts is called the Fanbase; following our upvotes to earn extra curation rewards is called the Curation Trail.