MAP FinTech - M Token Distribution to Delegators and Price Increase - 26 April 2021
Our weekly report for both delegators and token-holders of M.
Delegators have received their token distribution and token-holders see the price rise a significant amount.
Yet again, I write these posts then forget to post them! Next one will be up to date and, hopefully, tomorrow!
M News
This week we see overall earnings and distribution up compared to last week, but still holding well compared to the estimate for the Hive blockchain. Our buyback price has also risen by just 1 point, as last week, in order to adjust to the falling values of third party token investments.
Worth remembering that our yields are actual payouts, whereas the estimates for the chain's vote-yields are gross values that are then split between author and curator. So even if the numbers look equal, our payout is double what you would get from an average 50% curation yield.
Although we have slipped slightly below the Hive estimate, we should be back up next week. Because of the nature of the blockchain price, sudden changes in the external markets take a week or so to really filter through. It could also mean that activity is slipping; that's one other possible reason that the blockchain yield has been increasing the last two weeks.
On a positive note, income from other tokens is now rising, so I hope to be able to increase the buyback price soon, but there has to be a liquidity buffer to avoid later having to decrease the buyback.
One change to our terms. Please see below that the minimum delegation has been increased to 100 HP. Honestly, delegating 10 HP is not of much use to anybody! For the moment, we are allowing existing delegators under 100 HP to continue receiving distributions, but any changes in the amount delegated must then meet the new minimum. We reserve the right not to issue rewards to such accounts if they do not meet the new minimum.
We continue to navigate through a volatile period. It remains interesting to see that what may be good for HIVE need not always be so good for the tokens priced in HIVE.
The Numbers
Distribution to delegators = 0.290% = 15.1% APR
Buyback price = 0.939 HIVE (+0.001) = +5.7% APY
Hive gross actual vote = 15.4% APR (+0.3)
Hive gross linear vote = 24.0% APR (+0.6)
The Hive vote estimates are calculated based on the average weekly prices. The "gross actual vote" is calculated based on our HP; the "gross linear vote" is calculated based on a stake of 1 million HIVE and hence approximates to the reward curve's linear asymptote.
Note that these gross votes are then split between author and curator so that, on average, an individual will get half of these values.
Minimum delegation is 100 HP. Changes in delegation, including new ones, start earning rewards after 2 days.
Existing delegators under 100 HP who change their delegation must then conform to the new minimum or forfeit earnings.
The buyback price increase is shown as an APY because members are automatically compounding their tokens, whereas the distribution uses an APR value as that reflects the delegation income. Older-style info can be seen in our last post using the old format. The new format is explained in more detail here.
Have a fine week!
Any questions, please ask in the comments below or in our public chatroom.
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