MAP Rewarder: MAPR Payouts for 13 Apr 2020 (15.6% APR, 16.9% APY) Plus some Hive News
Below is a copy of the post made on Steem. MAPR will be launching on Hive as soon as we see that Hive-Engine is stable. We have already created a new token - more on that in a new post - but just to reassure delegators to @accelerator that your delegations remain valuable as the value of the fund on Hive increases. This means that our launch price on Hive will also be higher and your airdropped tokens worth more.
Earn significant passive income with STEEM without locking SP by investing in MAPR tokens.
This week's distributed profits are 0.300%, equivalent to 15.6% APR and 16.9% APY.
This is higher than most individuals can earn from vesting their own STEEM.
There is a lot of information to get through today, so please read the News below very carefully.
Remember that MAPR has a unique distribution and pricing system. If you look at the MAPR tokens you, as delegator, have received today, multiply that number by the new official BUY Price and you get the same amount in STEEM as you would have done under the old system of just paying out STEEM transfers.
Token-holders receive no token distribution, unless they are also delegators. Their profit comes in the token price increase.
The added bonus is that if you don't sell this week's tokens, then next week their value will rise to at least the new BUY Price. This is how the token allows compounding of profits, for both delegators and token-holders.
Using the language of investment trusts, delegators hold "income" stakes where the "interest" is paid out in tokens, whereas token-holders have "capital" stakes where the profit is added to the token price.
A reminder that new delegations start to earn 2 days after the day of delegation. This means that the first week's payout will be lower than for a 7-day week. Also, as payouts are done on Mondays, delegating on a Saturday or Sunday will yield no distribution till the following week. This has always been in place and is to avoid people trying to game the distribution. The positive part is that there is no unstaking period for the tokens, merely the standard waiting time for undelegating.
MAPR: The Numbers
All these numbers relate to a 7-day period (Monday to Sunday) and calculated in STEEM per SP.
Value of Steem upvotes = APR 27.8% [1a], 15.8% [1b], 15.3% [1c]
Value of Steem author rewards payouts = APR 13.5% [2a], 7.7% [2b], 7.5% [2c]
Distributed MAPR payouts = 0.300% (APR 15.6%) [3]
Projected Compounded APY 16.9% [4]
Average APY 18.0% (13-weeks)
MAPR BUY Price: 1.13664 STEEM [5]
MAPR SELL Price: 2.00 STEEM [6] (price fixed until MAPR-Hive airdrop)
[1] Theoretical maximum value of Steem upvotes, assuming 10 full upvotes at 100% power for 7 days, averaged over 7 days and expressed as an APR. This calculation was performed for an SP of 1 million STEEM to be as close as possible to linearity. Your own upvote will be somewhere between 50-100% of this value.
The values are now calculated for three levels of voting power: 1 million SP (a); 10,000 SP (b); and 1,000 SP (c).
[2] Theoretical value of Steem upvote author rewards, assuming 50% curation rewards, 50-50 split of post payouts and SBD print rate, averaged over 7 days and expressed as an APR. Your own author rewards will be somewhere between 50-100% of this value.
[3] MAP Rewarder distributed payout sent to delegators this week as tokens and the MAPR price adjusted to reflect this.
[4] Equivalent compounded yield as an APY for this week's distribution in [3]. We now have enough data to give a better historical picture of progress and have including a 13-week average to give a measure of medium-term returns.
[5] Our BUY price is the price you may sell your MAPR tokens such that their value in STEEM is the same as if this week's distribution was done by direct STEEM transfer.
[6] Our SELL price is about 1% above the BUY price.
Our MAPR distribution [3] is much higher than the average blockchain author rewards [2].
Our payout [3] is now significantly higher than most users can achieve [2a, b & c]
and
higher than most users can even generate with a full vote [1c].
Profits will be paid today in the new MAPR tokens.
MAPR News
The data this week needs some explaining: the blockchain rewards have shot up compared to last week, yet our earnings have nudged lower. This has been the case for the past two weeks.
I can only report what I'm seeing, and the daily returns remain highly volatile. The only cause I can see for this is the random yet constant tweaks to the blockchain APIs, with long periods of time in which transactions are not being processed. I hope this stabilizes soon. Indeed, I am not seeing these issues on the other chain.
However, this remains an opportunity to increase one's voting activity, as that is the only thing that will bring down the reward pool. This drop in on-chain activity remains a concern.
Note that the buy price of MAPR tokens has been raised to 2 STEEM during this transition phase. That price will drop back down once we have set up a "MAPR-Hive" and done an airdrop to current token-holders. It also means the current market can continue to function and, given the airdrop and price differentials, it may even be worth the 2 STEEM price.
If you hold any other MAP FinTech token, please read the most recent posts for instructions: MAPX and MAPXV are winding down but MAXUV and MAPR shall continue to operate.
And finally, although our weekly returns are variable, here is a graph of how we have been performing since the MAPR token was launched. (Thanks to @gerber for the discord-bot.)
MAP Rewarder, without the token, has been in operation for over 24 months, so you can extrapolate back from that graph to get an idea of our returns to members. We celebrated 2 years of operations at the start of February.
This graph is a record of actual transactions on the Steem Engine exchange so it can, in practise, deviate from this apparently-straight line. This can happen if there are large buyers or sellers that can use up all the tokens at a particular price-point. At the moment, we are largely seeing buy-and-hold trades and the market behaves more like a shop than an exchange. So this is just a reminder that it is a marketplace and you can leave open orders to either buy below our own current price, or sell slightly above it.
See you next week!
Next rewards distribution will be on Monday 20 April.
[BUY MAXUV] - [READ MAXUV]
[BUY MAPR] - [READ MAP REWARDER]
[BUY MAPXV] - [READ MAPXV]
ONECENT: The First Strategic Token Investment Game (STIG)
Really a lot of info to digest, thanks.