MAP FinTech - M Token Distribution to Delegators and Price Increase - 9 August 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 small amount this week.

A bit late - never mind!

M News

We are seeing continued turbulence across markets and these are reflected in our own returns. Being a level-2 token means being subject to both the primary token, HIVE, and then its own price relative to the broader market.

Not really much to add except to repeat a few things from last week. This gives me an opportunity to highlight one aspect of M that may be overlooked. Although designed with delegators in mind, anyone can use M as a deposit account or a hedge against other tokens falling. It's price is asset-backed, just like a stablecoin, plus it offers a steady rise in price.

That slow price appreciation may not seem fabulous compared to other sources, but if your other tokens are dropping in price then M can be a temporary store of value. Later, if you feel the other tokens have bottomed, then you can buy them back at a better price without having lost value in the drop. This, obviously, works for HIVE-based tokens that often seem to do the opposite of HIVE itself, but cannot be a hedge against HIVE itself.

As expected, the author rewards estimate below has moved up in line with half the gross vote yield - this is because the blockchain price of HIVE is close to the market price.

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. Apologies, I keep forgetting this - will try and do it soon.

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 = 0.202% = 10.5% APR

Buyback price = 0.9497 HIVE (+0.0002) = +1.2% APY

Hive gross actual vote = 20.8% APR (-0.9)
Hive net author rewards = 11.0% APR (+0.2)
Dlease Hive lease max = 12.8% APR (-0.0)

The Hive vote estimates are calculated based on the average weekly prices. The "gross actual vote" is now calculated based on our HP and is the same as the old "gross linear vote", that we have now removed; the "net author rewards" estimates the payouts adjusted for HBD and assuming a "gross actual vote".

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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