MAPX Token Weekly Profit Statement & News - 22 March 2020 [MAP Steem FinTech]

in #crypto7 months ago

Welcome to this week's review.

In this turbulent time, MAPX has done extraordinary well. But things are not good - not really - and any balance of power that may have existed, however fractional, has evaporated. The relationship between governance and the chain economy has been exposed, and the opportunity to post and be rewarded are no longer subject to mere mathematics.

Our SP has increased and, although the value of our token holdings has dropped, our MAPX fund value has edged upwards. Our voter still works fine despite being sorely tested by a glitchy chain.

As of yesterday, the plan was to remain on Steem and continue our services to members. But things can develop quickly, and the concerns I have held about Steem-Engine have proven correct. If Steem-Engine can continue as a token ledger, then we, at MAP FinTech, can actually deliver upvotes on either the Steem or Hive chains. It requires a little bit of work but is feasible. However, if MAPX tokens become difficult to trade, then we have daily data on token-holders and may have to dissolve the program. This is not a choice I take lightly as it also involves a lengthy power-down.

I often feel like I'm talking to myself here; apart from a handful of people, communication and feedback has been minimal. As MAPX has a staking option, there is one way to express an opinion without the effort of writing a comment.

If you would like the MAPX program to be wound up, then you may unstake your tokens. Yes, you will lose the upvotes but the stakes are worth more than the votes for a week. I shall review this next week. Any final distribution will be based on the combined balances and stakes, and include both STEEM and HIVE tokens. You may, of course, continue to buy and sell on the Steem-Engine market till such time as I announce a decision.

If, on the other hand, you would like to see your MAPX stakes generate votes on Hive, then you will have to express that in a comment. The situation shall remain uncertain and fluid for some time to come. No firm decision has, as yet, been taken.

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.

And... here are a few prizes:

Winners of TRENDO tokens are... @romiferns and @ecoinstar.

Prizes last for at least 10 days and TRENDO tokens are subject to supply.

Note that the random draw is done from the top 100 MAPX token holders. If you are outside this top 100, then your name will not appear in the draw. At the moment, this means having at least 2 MAPX tokens to be safe.

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 (8164 staked)
SP in @MAP10K = 10,268
Mining SP = none
Other STEEM = 926
Total STEEM = 11194
Total Income = 67.00
Fee = 6.70
Total STEEM carried down = 11187

MAPX VV/Token = 0.96

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.

If VVS > 1.0, then MAPX stake-holders are getting upvotes of greater value than the par 0.1% per token.

If VVT > 1.0, then MAPX tokens are under-priced on the market and good value to buy.

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.

Building Steem's Fintech





Plus Some Serious Funtech

ONECENT: The First Strategic Token Investment Game (STIG)




Congratulations @mapxv, 59.76% upvote has been shared with your successful call on the post that shared by @map10k!

Support @trendotoken projects by delegating : 100SP , 200SP , 500SP , 1000SP , 2000SP

Being the coder most likely to have to implement things, I'm actually optimistic that we can get the one-token, two chains thing; that is, by holding MAPX you get a vote on one and/or both chains.
Steem-engine has announced that they will work towards a Hive-Engine which should arrive in a month or two. At that time we can re-evaluate and decide whether or not to split the MAPX token into a steem and a hive version, or to end the hive-MAPX and distribute its equivalent.
It's a murky situation to be sure - a lot can go wrong. But, I am talking days before two-chain voting is working.