MAXUV Weekly Statement & News - 6 October 2019 [MAP Steem FinTech]
Welcome to our weekly MAXUV account statement.
The Steem environment remains challenging but we are starting to see some clear light.
This has been a week of modest progress, with MAXUV active tokens showing a slight increase, so too is our own SP as well as the ABV. We also seem to have sold through all those cheaply priced promotional tokens. I suspect many who bought cheaply just placed them for sale at a higher price. This means we as a fund received the original promo price but have seen low SP growth since.
Now we have yet again hit our par price of 1 STEEM, so new sales will also be reflected in new SP and growth in the MAXUV fund itself. The sell-wall looks pretty large, but I really don't think the price should increase beyond 1 STEEM for the medium term. As MAXUV is open-ended, there will be no scarcity that can affect the price.
The only real reason to increase the price is if and when the ABV rises beyond unity. This can happen as rewards and token trading profits accumulate so that our fund value increases beyond 1 STEEM per token; but that is in the future.
The MAXUV headline figures are:
MAXUV tokens active = 8,630
SP in MAXUV = 7,637
Voting SP = 22,470
Other STEEM = 952
Total STEEM = 8,589
MAXUV ABV = 0.995 STEEM
MAXUV VV/STEEM = 196.0% in 2 votes per day
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.
Target value for VVS is 150-200% in 1 upvote per day.
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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