MAP Rewarder: Paid Out Rewards to Delegators for 12 Aug 2019 (19.0% APR) in MAPR Tokens
This week's distributed profits are 0.365%, equivalent to 19.0% APR.
Total rewards to delegators, including bonuses, are 0.383%, or 20.0% APR.
This is the third MAP Rewarder payout done using MAPR tokens.
I am going to streamline these weekly posts, however, for now, just a couple of extra pieces of data shown below. Much of the text has remained the same as last week. Please ask questions in the comments if you are unsure of anything.
I believe that experience is a more valuable teacher than my lengthy explanations, so will give a very brief outline of how this works. During this week, I shall publish more posts about different aspects of the fund and the token, plus the slightly different rewards to delegators and token-holders.
What everyone will see is that the MAPR market now has two price-points set by the owner-account @accelerator. Our BUY price (the price at which you may sell your tokens) has been set at 1.01116 STEEM this week. This reflects this week's profit of 0.365% compounded onto last week's price of 1.00748. Then, our SELL price (the price at which you may buy the token) is set at 1% above the BUY price. This week the SELL price starts at 1.02127 STEEM. I note that Steem Engine does not go to 6 decimal places for prices.
The delegator payouts are calculated so that, should the delegator wish to sell at 1.01116 then the total value of the tokens at that price will be exactly the same as the user would have received under the previous weekly STEEM transfers.
One important point for those of you who have changed your delegation during the last 7 days. The current script only uses the most recent delegation; as new delegations take 2 days before they start to earn (this has always been the case, to avoid delegating just before a payout then undelegating soon after) those of you who have made changes, whether up or down will see two payouts. The second payout is my manual adjustment so that you receive full payouts for the week. So, if you think your payout looks low, please look for the additional manual payout.
New delegations will start to earn 2 days after the day of delegation. This means that delegating on a Saturday or Sunday will see the first full payout the following Monday.
Now, each user has the choice to either keep hold of the tokens, thereby compounding their value until next week, or to sell them at our BUY price, or to sell them at whatever price the market will pay!
For existing token-holders, they see that the MAPR token price has risen from last week's offer of 1.00748 STEEM to this week's 1.01116. They too can decide whether to hold on for the longer term or take some small but short-term profits.
The MAPR token has been designed so that both delegators and token-holders benefit in different ways from the same percentage weekly profit.
The numbers may seem small, but the profits are consistent - week in, week out. One note for buyers of MAPR tokens, I trust the market will become more vibrant soon, but just taking the two official prices, buying at 1% above the selling price means you should see a profit within 3 weeks. With other traders, that spread should shrink and you'll be able to make a quicker profit.
I'm going to keep the rest of this text brief and skip my usual commentary on the Steem blockchain. Just a reminder that the STEEM economy has been designed in such a way that the Dollar price is less important than blockchain activity. So although your earnings in Dollars may appear to be going down, calculate them in STEEM and you will see that they are about the same, even slightly higher, than the last few months.
Why all the Steem interfaces insist on showing Dollars is beyond me and I shall keep saying this till they manifest some sense and show the Steem economy in the native currency STEEM.
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 22.1% [1]
Value of Steem rewards payouts = APR 16.6% [2]
Distributed MAPR payouts = 0.365% (APR 19.0%) [3]
Total MAPR payouts = 0.383% (APR 20.0%) [4]
MAPR BUY Price: 1.01116 STEEM
MAPR SELL Price: 1.02127 STEEM
[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.
[2] Theoretical value of Steem upvote author rewards, assuming 25% curation rewards, 50-50 split of post payouts and SBD print rate, averaged over 7 days and expressed as an APR.
[3] MAP Rewarder distributed payout sent to delegators this week.
[4] Total payouts for the week, including bonus upvotes, free full upvote, free SBI and this week's distribution. This increases our overall payouts to about 90% of gross income.
[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].
Also, the total amount MAPR has given out as distribution, prizes and upvotes, [4] is much higher than [2] and now almost as high as [1].
Profits will be paid today in the new MAPR tokens.
MAPR News
The main news is the launch of our MAPR token.
I take this opportunity to say a few words about trading strategy. We now have the flexibility to make money from trading tokens as well as from STEEM rewards. We are actually doing very well and our profits are increasing. However, I am being rather cautious in paying out large amounts to then see their capital value decrease. We have never had a profitless week and I'm not about to change that! In theory, this is now possible as token prices can plummet to zero. You can judge the profits we "bank" by looking at changes in our SP; the SP we own, not the delegated amount.
So, those of you who have been delegating to MAPR for many months will know that I increase the payouts during the "good times". Unfortunately, we're heading into a storm and for all my calculations, the best possible outcome is that we end up neutral compared to now - possibly a tiny bit up. So I will gladly distribute our capital gains once I am certain that they will not evaporate during any HF21 aftermath.
Please read these posts: Important Changes to MAP Rewarder - New Payouts in MAPR Token Explained - 21 July 2019 and MAP Rewarder: More Details on the MAPR Token for Delegators and Investors - 25 July 2019 and finally MAP Rewarder: Launch of MAPR Token - Airdrop to Delegators.
Benefits of Delegating to MAP Rewarder
The fundamental aim of MAPR is to earn a large enough income so that the distributed weekly STEEM is as close as possible to the Steem blockchain's value for a full upvote. This means delegators and token-holders will be earning far more than the author rewards for a self-upvote.
The extra bonuses, such as the random free upvotes and free MAPX tokens and SBI shares, are designed to make the MAPR benefits-curve slightly more profitable to low and middle SP delegators in percentage terms yet remain highly profitable in absolute STEEM terms to larger delegators.
For users with low to moderate amounts of STEEM, and desiring much larger upvotes, we created the MAPX token and, more recently, the MAPXV token.
One last thing to mention is that although MAP Rewarder is focussed on earning STEEM for its delegators, it also has a secondary mission to support curators. This is a legacy from the days of the MAP Community and is done by the personal account of @rycharde.
Any further questions, please ask.
How to Delegate to MAP Rewarder
To delegate SP to MAP Rewarder, please read our Introduction document and the important update.
You can also delegate using these links:
10 SP, 20 SP, 50 SP, 100 SP, 200 SP, 100 SP, 500 SP, 1000 SP, 5000 SP, Other.
Please note that the minimum delegation has now dropped back to just 10 SP. Any delegations below 10 SP will not be accepted.
To get similar benefits with a minimum of about 1 STEEM then see our new MAPX token below.
If you do not have spare SP to delegate, then you can still follow our Curation Trail or Fanbase on SteemAuto (or follow us on Steem Voter), and gain some higher-than-average curation rewards.
MAPX token
This token is managed in a similar way to MAP Rewarder but with two distinct differences:
The key features that differentiate the MAPX token and MAP10K account from the existing MAP Rewarder project are the low entry cost and the increasing value due to compounding earnings.
New MAPX Token for Upvotes and Value Growth
Steem Blockchain News
The Steem reward pool has lurched upwards again, now above 939k STEEM and rising - up from 920k just last week. This shows a drop off in activity - rshares activity - and is also shown by the upvote value rising to 22.1% APR.
The only solution is to create more rshares: vote more! The EIP will do nothing to solve this.
The only certainty is uncertainty... but it can be managed.
See you next week!
Next rewards distribution will be on Monday 19 August.
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@rycharde manages the MAP Rewarder high income program and MAPX Token.
ONECENT: The First Strategic Token Investment Game (STIG)
