MAP FinTech - M Token Distribution to Delegators and Price Increase - 5 July 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 slight amount this week.

M News

As you may already know, one consequence of Hive's HF25 was that all pending curation rewards were wiped! How nice of them. I have put in place some extra votes to take advantage of this temporary "curation game", but that doesn't make up for a week of voting lost.

Anyway, this week has seen poor returns, as you can see below; I hope next week's will be a bit better. However, we will then be in the new economy and curation income will likely be 50% of whatever the blockchain vote yield will be.

I suspect users will firstly feel good as the average vote will be higher, but as the reward pool adjusts these will slowly come down to some plateau. I expect we shall know the new Hive vote yield within a month.

Luckily, we have some other income, and we may well be able to earn a higher than average yield. We shall see.

Interesting how the different yield metrics bounce around (see below). I may reduce these now that both the reward and curation curves have changed - but I do wish to verify that those changes manifest in the data. As you can see, the gross vote yields are now equivalent for all users, and the net author rewards are about half of these values - this week is just under half as HBD is below $1. I expect these values to be lower next week, although with so many curation rewards not paying out it may take an extra week to see this.

I have finally made a change to the MAPR token, so expect something similar for M. I will give it another week to run, then announce it in a separate post.

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. Thanks to a few members who I notice have increased their delegations in recent weeks.

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 = 0.186% = 9.7% APR

Buyback price = 0.9485 HIVE (+0.0005) = +2.8% APY

Hive gross actual vote = 22.7% APR (+6.9)
Hive gross linear vote = 22.7% APR (-1.8)
Hive net author rewards = 11.0% APR (-3.5)
Dlease Hive lease max = 14.1% 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; the "net author rewards" estimates the payouts adjusted for HBD and assuming a "gross linear vote".

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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