This week has been a turning-point in that we are now earning more than the MAPX tokens distributed through either mining or promotional freebies. Such free tokens are now limited to our contests and one per week given away by MAP Rewarder. This means we should see our ABV price start to rise.
Two weeks ago we started allowing delegators to mine MAPX tokens. This has proven very popular and the SP held in the @MAP10K account is over 33,000 STEEM. This allows delegators to earn tokens without purchasing them and it gives MAPX stakeholders much larger upvotes.
Please note that upvotes are worth 33x the SP value equivalent of the tokens held. As there is one vote per day, this still comes to 3.3x what you would receive using the same SP to upvote yourself ten times per day. With the Steem blockchain upvote worth some 21% APR this means you are earning 69% APR! And that's just on the upvotes; with our rewards also yielding about 18-20% that's a total of about 88% APR! Where else will you find that on Steem?
As our forward earnings are set to rise, we shall continue offering tokens at a price of just 0.985 STEEM but we shall not, for the moment, be dropping it further. We feel this remains a buying opportunity. When we come close to selling all MAPX tokens, the market will establish the price but we shall continue to offer some tokens at the ABV price.
Please note that I always qualify any forward predictions as they are subject to technical issues such as the proper functioning of the blockchain and our own algorithms.
One other thing to note about the figures below, we have had to change the method of calculation so that only tokens that have been bought, earnt or given as prizes are counted as being active. The early delegations given by the MAP team accounts are now treated in the same way as all other delegators. This accounting method will continue in the future.
The headline figures are:
MAPX tokens active = 2384 (+617)
SP in @MAP10K = 2256 (+588)
Mining SP = 31,100
Other STEEM = 91
Total STEEM = 2347
Total Rewards = 78.60
Fee = 7.86
Total STEEM carried down = 2339
MAPX ABV = 0.985 STEEM
Note that "Other STEEM" is the sum of all holdings not powered up as SP: liquid STEEM and SBD plus holdings within Steem Engine to maintain market liquidity plus some investments; we also now have a stake in PALcoin and receive rewards from PALnet. Also note that 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 @MAP10K account.
The Asset Backed Value (ABV) is our total holdings calculated in STEEM divided by the number of active MAPX tokens, whether staked or unstaked. This shall be used as the lowest price we offer MAPX tokens on the Steem Engine market.
Full details of how the MAPX token operates can be found at New MAPX Token for Upvotes and Value Growth.
Details on delegation-mining of MAPX tokens can be found at Mining MAPX Token Now Open and Stakeholders Getting 30x Upvote Value.
Current TOKENOMIX CONTEST is at TOKENOMIX CONTEST - Win MAPX tokens - Round 7 of 10.
Any questions, please ask in the comments below.
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- -Please Comment, Resteem and Upvote. Thanks!
@rycharde manages the MAP Rewarder high income program and MAPX Token.
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