A much shorter newsletter this week.
The ONECENT strategic token game moves forward and @onecent has taken over posting duties again. Just a reminder that those posts written on behalf of ONECENT shall have their rewards sent to the game account.
The total voting SP for MAPX has moved up to just over 35,000 SP.
Please note that upvotes are now worth 35x the SP value equivalent of the tokens held. As there is one vote per day, this still comes to 3.5x what you would receive using the same SP to upvote yourself ten times per day. With the Steem blockchain upvote worth some 21% APR this means you are earning 74% APR! And that's just on the upvotes; with our rewards also yielding about 18-20% that's a total of over 90% APR! Where else will you find that on Steem?
As shown in the figures below, our ABV is now 0.996, a whisker down from last week's 0.999. I shall post some new MAPX tokens at 0.996 STEEM, but it is good to see that the price is holding up with the mining. When we come close to selling all MAPX tokens, then most of our profits will be compounded into the token price; then it will start to rise in line with such earnings. We have, however, seen purchases at the 1.01 STEEM level, so I am letting the price float as the market wishes.
When MAPX was launched, I expected our holdings within the Steem Engine DEX to be minimal and merely there to add liquidity to the token market. However, the development of new tokenised Steem-based platforms has somewhat changed this strategy and our "Other STEEM" value has risen quite sharply. It is currently at about 5% of our fund and I shall try to limit the holdings to this total. However, tokens have been a source of significant income this week, both from airdrops and trading, and it has allowed the fund to increase as fast as the mining rate.
There is also the issue that MAPX holders may well be getting rewards in tokens as well as STEEM, so that we endeavour to increase our stake in the most popular tokens. This may mean adjusting our 5% limit on Steem Engine to perhaps 10%. This is a balancing act, as that 10% does not go into SP and hence will not increase the upvote size in STEEM. Given that most tokens are trading at a discount to their underlying STEEM currency, I would like to see SP increasing before staking heavily in other tokens.
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. We are also aware that HF21 is imminent although there is no fixed date as yet.
The headline figures are:
MAPX tokens active = 4589 (+631)
SP in @MAP10K = 4332 (+515)
Mining SP = 31,100
Other STEEM = 240
Total STEEM = 4572
Total Rewards = 122.00
Fee = 12.20
Total STEEM carried down = 4560
MAPX ABV = 0.996 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 plus some investments; we also now have stakes in 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.
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.
Details on delegation-mining of MAPX tokens can be found at Mining MAPX Token Now Open and Stakeholders Getting 30x Upvote Value.
Any questions, please ask in the comments below.
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- -Please Comment, Resteem and Upvote. Thanks!
@rycharde manages the MAP Rewarder high income program and MAPX Token.
ONECENT: The First Strategic Token Investment Game (STIG)