MAPX Token Weekly Profit Statement & News - 29 March 2020 [MAP Steem FinTech]
Welcome to this week's review.
This is going out a day early, as I have a number of things to do, and is a useful update on the start of the winding down process. So, instead of enjoying the numbers going up steadily, I am really looking at them slowly dropping till everyone has cashed out. Sad, but such is life.
MAPX members must read this announcement, and must get in contact about their prefered option.
We await the first tranche of our power-down - this will be on Monday. Members who are in the queue will then be processed - large accounts will be done in batches.
A reminder that MAPX requires unstaking, but that only takes two days. Member votes will continue during this period.
Those of you who also hold MAPXV tokens, please read those updates on Hive at peakd.com/@mapxv.
Have a fine week!
What is MAPX?
MAPX was our first "vote bond" in the MAP FinTech family of programs. It is designed to deliver a 0.1% upvote per token held, with a maximum holding of 1000 tokens. The fund has a total of just 10,000 tokens available. MAPX token holders also benefit from profits being compounded into SP so that the token price should slowly rise.
MAPX is thus designed like a bond in that "interest" is earnt as upvotes, plus each token is backed by STEEM so that the capital value slowly increases in line with our fund. MAPX is managed by the same team as MAPR, which has been distributing profits to Steemians for 22 months.
As MAPX tokens have nearly sold out, we would encourage new members to consider the open-ended token @MAXUV.
Please note that I always qualify any forward predictions as they are subject to technical issues such as the proper functioning of the blockchain and our own algorithms.
The headline figures are:
MAPX tokens active = 9700 (6902 staked)
SP in @MAP10K = 10,188
Mining SP = none
Other STEEM = 829
Total STEEM = 11017
Total Income = 32.00
Fee = 3.20
Total STEEM carried down = 11014
MAPX = 1.1 STEEM (plus 0.99 HIVE) or 1.2 MAXUV (plus MAXUV-Hive)
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 plus some investments; we also now have stakes in MAPR, PAL and LEO, and some others, and receive rewards from them. 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.
Income includes rewards and token trading profits but excludes token sales.
The Asset Backed Value (ABV) is our total holdings calculated in STEEM divided by the number of active MAPX tokens, whether staked or unstaked. This shall be used as the lowest price we offer MAPX tokens on the Steem Engine market.
Full details of how the MAPX token operates can be found at New MAPX Token for Upvotes and Value Growth.
Any questions, please ask in the comments below.
ONECENT: The First Strategic Token Investment Game (STIG)