MAPX Token Weekly Profit Statement - 23 June 2019
Last week we started allowing delegators to mine MAPX tokens. This has proven very popular and the SP held in the @MAP10K account is over 33,000 STEEM. This allows delegators to earn tokens without purchasing them and it gives MAPX stakeholders much larger upvotes.
This is great news for the MAPX token, but there is a temporary issue as the rewards that come in when posts are paid out take 7 days to arrive. In contrast, MAPX miners earn from the time they delegate. This week has seen an increase in active tokens, delegated SP, vested STEEM and reward profits, but there is a slight shortfall in the total STEEM held compared to the tokens in circulation.
This will be resolved as much higher rewards start to come in, meaning that the current price is really a buying opportunity. The number of MAPX stakeholders, and hence upvote recipients, remains modest so that most of our upvotes go towards seeking curation returns. In line with the management style of our mature MAP Rewarder, we should arrive at a steady state whereby income is higher than mined tokens. Note that rewards have increased from about 10 STEEM to over 34 STEEM in just the last week; I look forward to seeing it reach over 100 STEEM by the end of next week.
One other thing to note about the figures below, we have had to change the method of calculation so that only tokens that have been bought, earnt or given as prizes are counted as being active. The early delegations given by the MAP team accounts are now treated in the same way as all other delegators. This accounting method will continue in the future.
The headline figures are:
MAPX tokens active = 1767
SP in @MAP10K = 1668.78
Mining SP = 31,600
Other STEEM = 62.10
Total STEEM = 1730.88
Total Rewards = 34.47
Fee = 3.447
Total STEEM carried down = 1727.43
MAPX Fair Value = 0.984 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 to maintain market liquidity; we also now have a stake in PALcoin and receive rewards from PALnet. Also note that 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 @MAP10K account.
Full details of how the MAPX token operates can be found at New MAPX Token for Upvotes and Value Growth.
Details on delegation-mining of MAPX tokens can be found at Mining MAPX Token Now Open and Stakeholders Getting 30x Upvote Value.
Current TOKENOMIX CONTEST is at TOKENOMIX CONTEST - Win MAPX tokens - Round 5 of 10.
Any questions, please ask in the comments below.
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@rycharde manages the MAP Rewarder high income program and MAPX Token.
Oh, right, because even if it benefits right away, you need to wait until payout before you can distribute that to delegators. Well, that's ok. It all evens itself out in the end anyway.
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Yes, it all works out in the end, just a few days lag. BTW just to be clear that with MAPX the rewards are not distributed to delegators, they are compounded into SP and appear as a token price increase; what the delegators get is paid out in tokens, which they can then either stake or sell. There are no plans to close down MAP Rewarder, so if someone really prefers weekly payouts they should delegate there - but it has not been tokenised, as that would just be confusing!
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Thanks for the post, what's the delegator reward for delegating 100 SP to the map10k account? I'm trying to maximize my rewards but not necessarily lose out on being able to upvote folks. I know you said that the accelerator account pays out weekly and this pays out differently in MAP tokens, just not sure what the token value would be for delegating 100.
The returns from mining MAPX are the same for all. 100 SP creates one token every 20 days, so 18 tokens per 360 days, so just over 18% APR. The mining rate may change if there are any major blockchain changes - such as the possibly imminent 50% curation.
The 18% is higher than the author-rewards for a self-vote but less than a full vote (author plus curation).
In contrast, MAPRewarder is higher but variable.