MAP Rewarder: MAPR Payouts to Delegators and Price Increase for Token-Holders for 22 March 2021 (19.1% APR)

in hive-175254 •  3 months ago 

Earn significant passive income with STEEM without locking SP by investing in MAPR tokens.

This week's distributed profits are 0.366%, equivalent to 19.1% APR and 21.0% 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.

Some sections may appear repetitive, but some important news does not always change on a weekly basis. I also doubt that every member reads every weekly post, so worth repeating some things.


General Info

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.

Please delegate to @accelerator, who is the issuer of the MAPR token. There is no delegation option within the Steemit wallet, but you may use steemworld.org; just go to the Delegations tab on the left, then click Delegate.

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 28.3% [1a], 16.2% [1b], 15.7% [1c]

Value of Steem author rewards payouts = APR 100.0% (263%) [2a], 57.0% [2b], 55.0% [2c]

Distributed MAPR payouts = 0.366% (APR 19.1%) [3]
Projected Compounded APY 21.0% [4]
Average APR 19.1% (26-weeks)

MAPR BUY Price: 1.2176 STEEM [5]
MAPR Price increase = +2.2% APR
MAPR SELL Price: 1.247 STEEM [6]

[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 26-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 for most users [2a, 2b & 2c].

Profits will be paid today in the new MAPR tokens. The token buy-backs on Steem-Engine may need to wait a few hours for our power-down to take place.

MAPR News

We have maintained a reward distribution above 19% APR, and the Steem blockchain yield has nudged down a whisker this week.

I have had no response to last week's post, so I shall move ahead and do what I think is best for the MAPR fund. There is no good reason to close it down as the environment may change yet again in the future.

However, there are a few changes needed to improv the yield for the people who generate the yield: delegators.\

So, minimum delegation amount will be increased to 100 SP.

Also, the buyback price will move up at a very slow pace, possibly just by 0.0001 STEEM per week. This means more rewards will be distributed to delegators. I have not seen an actual token bought in many months.

I shall publish details in another post this week. I think 2 weeks notice is ample time for those who are still on the chain. The changes will thus take place from Tuesday 9th April, so that the Monday distribution will be done as normal. After this date, only delegators with at least 100 SP will receive further token distributions.

MAPR has been going for over 3 years and every member has made a decent profit. Times have changed and I need to take steps to improve the current yields.

As always, shall monitor our returns and how they reflect the blockchain's own activity and rewards.

I have said for many weeks now that the buyback price will now track the overall fund's asset value, rather than tracking the weekly income, so I don't wish to expand on that further. Returns for delegators remain very good compared to the overall blockchain yield and the MAPR token price has held its value compared to so many others.

We shall continue to generate yields that are as high as we can given the economic model.

And finally, although our weekly returns are variable, here is a graph of how the token price has been performing since the MAPR token was launched. (Thanks to @gerber for the discord-bot.)

Note, looks like since SE changed domain, this graph-generator is not working. Just imagine it extending upwards! I'm not sure this feature will ever return, so it may end up being a historical document!

MAP Rewarder, without the token, has been in operation for some 36 months, so you can extrapolate back from that graph to get an idea of our returns to members. We "celebrated" 3 years of operations at the start of February.

Anyway, don't panic! We may need to flatten the curve slightly but, to be honest, this is the least of our worries.

See you next week!

I hope you all survive 2021!

Next rewards distribution will be on Monday 29 March.



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