Welcome to the MPATH Weekly Report.
As mentioned in the most recent announcement, the MPATH program is winding down in an orderly fashion.
Algorithmic votes have stopped, although members are still receiving manual votes. As has been taking place recently, those members with few tokens, and hence low votes, will receive a higher vote every few days.
Rewards will continue for 1 more weeks then stop. The last such payout will be on Sunday 21 November, 2021.
The calculations below will now exclude vote estimates, so the APR will appear much lower although actual distributed rewards will be calculated as always and may change due to the on-going power-downs.
The actual net rewards distributed will, of course, be going down as each week's power-downs take effect on VP, but this is balanced by members selling their tokens, so that the APR will drift lower but more slowly.
Next week may even see a blip upwards as many delegations going out are being recalled.
That is exactly what has happened! Rewards this week are very slightly up - not sure this effect will repeat itself next week as rather depends on the level of token buybacks.
The combination of votes and rewards has always been a key feature of MPATH and, now that the vote component is no longer calculated, you can all see the relative importance. Although my aim was once to make the vote and rewards have equal weightings, the Hive economics have always made the ratio more like 2:1 in favour of votes. As I said, votes haven't stopped, so I hope this allows members a gentle landing.
I have noticed a couple of users have joined within the last week! I cannot do anything about this, but it strikes me that the minimum amount of due diligence needed for any new token would include reading recent posts. So be it.
Here is a graph of the MPATH token price. (Thanks to 
I think this graph no longer needs updating as we have frozen the buyback price at 0.60 HIVE, but remains a record of progress over the months. Any panic sales will be gratefully accepted by patient buyers.
MPATH members have received healthy votes, good weekly rewards and a slowly increasing token price. I hope everyone has been entertained.
And on to my usual closing remarks...
As ever, I give the caveat that individual member returns depend on many things, but these are our baseline figures to see how income changes from week to week. This is also a good time to remind members that such high returns may require adjustments at times so that our Voting Power does not get too low. We have plenty of capacity left, so this is not an issue, as yet, but members with 2000 MPATH tokens are getting votes from about 35k HP, so even if the VP is down to 60% that's still an effective vote from a 21k HP account.
A final reminder that the maximum holding to receive votes is 2000 MPATH, and the maximum to receive reward distributions is 5000 MPATH. You may, of course, own more than this as an investment. We shall increase these if we see the demand to do so, but they are there to attenuate the effects of large accounts and thereby help the smaller accounts. Also worth a reminder that any accounts below 10 MPATH will receive no benefits.
For full details, please read How the MPATH Program Works [May 2020].
Have a good week!
The MPATH headline figures are:
MPATH tokens active = 33,590
Earning HP = 38,660
Voting HP = 37,650
Total HIVE = 20,060
MPATH ABV = 0.600 HIVE (+0.00, +0.0% APY)
Sale Price = 0.633 HIVE (spread 0.033 HIVE)
Earnings Distribution = 1.56 HIVE per 1000 MPATH = 8.1% APR
Total MPATH Distribution = 44.0 HIVE = 69 MPATH tokens at 0.633 HIVE sale price
Hive est. vote APR = 18.8% (-1.3)
Hive est. curation APR = 9.4% (half of the vote APR)
The Asset Backed Value (ABV) is our total holdings calculated in HIVE divided by the number of active MPATH tokens.
Any questions, please ask in the comments below or in our public chatroom.
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