MPATH Weekly Report and Token Distribution - over 27% APR - 25 July 2021

Welcome to the MPATH Weekly Report.

A decent week, with a higher distribution, hence income values increasing, plus a slight drop in vote yields in line with the variable blockchain yield.

The Hive blockchain yield continues to wobble around; I said last week I expected it drop, and it has, but let's see how it reacts next week. As I also said, we are seeing two distinct effects overlapping - the recent HF25 and the volatile market price - so let's see what happens next.

As I also mentioned last week, we may see MPATH moving towards a higher vote and lower income in relative terms to each other.

Having said all this, our lower estimate comes in at 27% APR, which is still pretty good!

Here is a graph of the MPATH token price. (Thanks to @gerber for the discord-bot.)

As you can see, it is a rather jagged affair, mainly because the spread remains wide so those spikes are merely the difference between someone buying tokens and someone selling them.

A reminder that this is a market, and not a shop, so although official prices are designed to guide the market, you can sometimes find cheap MPATH tokens. I reiterate that our promise is that we will guarantee official buybaks equal to that week's income. Anything above that will require some waiting for an increase in power-downs.

MPATH still needs to break through that 60-cents ceiling! We have had sales at that price, but the graph illustrates how it remains a "resistance" level of sorts, even though the official sale price is well above that level. Need even more members, really.

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And on to my usual closing remarks...

As ever, I give the caveat that individual member returns depend on many things, but these are our baseline figures to see how income changes from week to week. This is also a good time to remind members that such high returns may require adjustments at times so that our Voting Power does not get too low. We have plenty of capacity left, so this is not an issue, as yet, but members with 2000 MPATH tokens are getting votes from about 35k HP, so even if the VP is down to 60% that's still an effective vote from a 21k HP account.

A final reminder that the maximum holding to receive votes is 2000 MPATH, and the maximum to receive reward distributions is 5000 MPATH. You may, of course, own more than this as an investment. We shall increase these if we see the demand to do so, but they are there to attenuate the effects of large accounts and thereby help the smaller accounts. Also worth a reminder that any accounts below 10 MPATH will receive no benefits.

For full details, please read How the MPATH Program Works [May 2020].

Have a good week!

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The MPATH headline figures are:

MPATH tokens active = 42,615
Earning HP = 42,720
Voting HP = 35,710

HP in MPATH = 21,850
Other HIVE = 3,590
Total HIVE = 25,440

MPATH ABV = 0.594 HIVE (+0.0002, +2.0% APY)
Sale Price = 0.6285 HIVE (spread 0.0345 HIVE)

Estimated Gross Earnings = 8.97 HIVE per 1000 MPATH = 46.6% APR
(8.97 = 1.41 income + 7.56 votes)
Estimated Net Earnings = 5.21 HIVE per 1000 MPATH = 27.0% APR
(5.19 = 1.41 income + 3.78 votes)
Total MPATH Distribution = 60.0 HIVE = 95 MPATH tokens at 0.6285 HIVE sale price

Hive est. APR = 21.9% (-0.5)

Note that "Other HIVE" is the sum of all holdings not powered up as HP: liquid HIVE and HBD plus holdings within Hive-Engine. Also note that such 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 @MPATH account.

The Asset Backed Value (ABV) is our total holdings calculated in HIVE divided by the number of active MPATH tokens.

Any questions, please ask in the comments below or in our public chatroom.

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