MAPX News: Random Upvotes & HF21 - 7 August 2019

Sales of MAPX tokens have slowed, which is no surprise given the current environment, with some 8,400 sold and about 7200 staked.

Although busy preparing for the launch of the TULIP Mania Game, and running all the various projects, my thoughts have turned to the imminent HF21, scheduled to take place on the 27th August - pending the agreement of a super-majority of witnesses.

Best to read the first piece here: MAPXV Report - HF21 - 7 Aug 2019. No point in repeating myself and run the risk of self-plagiarism. Let me focus on the effects on MAPX (and MAPXV).

In an economy such as Steem, rewards or profits are relative to some benchmark - possibly more than one. There is the full value of an upvote, whose value is currently edging up, at about 22% APR; there is the more realistic value of author rewards, currently at about 16% APR; then there is the coin-creation rate, usually erroneously called inflation. It is a kind of inflation, though somewhat like the difference between official government figures and what the average citizen actually experiences.

So let's focus on author rewards. These will drop from 75% to 50% of an upvote but, at the same time, the portion of the reward pool allocated to rewarding member activities is also shrinking from 75% to 65%. The net effect is that creators will see, on average, a decrease of 43% in what they receive as rewards. Assuming the reward pool does not lurch in either direction, this brings author rewards down to some 9%. Well, isn't that interesting! That's only fractionally above the coin-creation rate.

So how will this affect the MAPX program? Well, obviously we cannot upvote more than the Steem algorithms dictate, so there will be a drop in the net amount received, even if the actual size of vote remains the same. I shall also assume that the maximum yield on upvotes will fall to about 19% due to the shrinking reward pool dedicated to creators.

But MAP Rewarder earns this every week; MAPX and MAPXV earn slightly less because many of our votes go to members rather than being specifically designed to yield high curation rewards. The net weekly income is kept within the funds and used to increase their capital base, either through investments or directly into voting SP. This, in particular, is a benefit to MAPX members that may not always be easy to do for each individual, as their votes are rarely optimised.

It is therefore highly possible that any drop in author rewards from our votes going to members will be off-set by a faster increase in SP. That really depends on how the whole ecosystem reacts (including the Pandora's box of downvotes) and hence how the economic parameters of the Steem blockchain react.

The one thing some of you need to look at is your average post rewards. Anything below 4 STEEM (about US$1) and you will be seeing a shrinking payout. In these times, a dollar upvote is a hefty reward; MAP Rewarder can barely reach that today, and that has some 68,000 SP.

So... what about the bidbots?

Enough for today, methinks.

Have a fine day!

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OK, time for some more random bonuses!

One 10% upvote each to @bwar and @rosatravels.

A 10% upvote from MAPX is equivalent to 100 MAPX tokens and today is worth 0.116 STEEM.

Enjoy your day!

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