RE: Important Changes to MAP Rewarder - New Payouts in MAPR Token Explained - 21 July 2019
Hi. An ABV calculation has not been necessary so far as it is, by the way I have run the fund, always at 1 STEEM, with the excess being paid out as profits. However, having a floating token requires some guidance that its price is justified by underlying assets. This is not a price-discovery-mechanism such as many other tokens. Just as investment trusts will publish their NAV, then let the market decide whether the track record is worth a premium or discount.
Anybody who tries to drive the price down well below its ABV is merely giving someone else the opportunity of buying it cheaply. Let us not forget that nobody has got these tokens for free in an airdrop, whoever drives the price down is losing money.
If you wish to sell immediately and exchange for STEEM, then the liquid STEEM in the MAPR account will be converted to STEEMP and used to buy back tokens. There are also holdings within Steem Engine that can be used to buy back tokens.
Thanks for the answer.
Just to clarify...
As a MAPR token holder, in this case you create a Sell order and wait for it to fill?
Yes! Actually, I create a BUY order so that you can sell at that price. Hopefully not everyone wishes to sell immediately and that will go towards compounding the fund. If everyone does, then the STEEM will be available, just as it is for current weekly distributions.
Part of the profits will also go into the token price so that token-holders also benefit. I shall explain the mathematics in a post soon, although I suspect most people will understand it better through experience.
Any further questions, don't hesitate to ask.