Welcome to the MPATH Weekly Report.
MPATH is doing very well, with sales of over 1,300 HIVE we continue to increase the value of both votes and reward distribution.
I think this mixed model works well and may remain this way. The "transition phase" is thus related to boosting our capital base since the transfer of many tokens from MAPX and MAPXV. The power-downs on Hive remain in place, so will take about 6 more weeks to be completed.
The ABV has nudged up to 0.35; this should increase more quickly from now on as all personal accounts have been sent their liquid coins from the MAPX/MAPXV cashouts, so we can now focus on boosting MPATH's fund.
The aim remains that members who post will be earning far more than they would with the same self-voting HP, and those who post infrequently are still also earning with their stake.
Because everyone has different stakes and different posting frequencies, each member will need to calculate their own overall gains from MPATH, but we do have a measure that can be tracked from week to week to see our progress. Assuming a holding of 2000 MPATH tokens and daily posting, we can calculate our maximum possible return. This is the number you see below as Estimated Earnings, and for this week it comes to 6.38 HIVE per 1000 MPATH.
This yields a huge 33.8% APR for this week. This is not "miraculous", but a function of having a significantly higher voting HP compared to our maximum 2000 MPATH accounts. This is due to both new token sales and the transfer of capital from those winding-down accounts.
As always, I give the caveat that individual member returns depend on many things, but this is our baseline figure 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 30k HP, so even if the VP is down to 70% that's still an effective vote from a 21k HP account.
We shall hold the MPATH market sale price at 0.5 HIVE while the ABV increases. This has increased again from 33 to 35 cents this week. Once the ABV is higher than our buy-back price, then we shall start to increase our MPATH sale price.
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 1 MPATH will receive no reward income.
Have a good week!
The MPATH headline figures are:
MPATH tokens active = 38,441
HP in MPATH = 12,957
Voting HP = 33,020
Other HIVE = 345
Total HIVE = 13,302
MPATH ABV = 0.35 STEEM
Estimated Earnings = 6.38 HIVE per 1000 MPATH = 33.8% APR
Total MPATH Distribution = 43.2 HIVE = 86.4 MPATH tokens (at 0.5 HIVE sale price)
Note that "Other HIVE" is the sum of all holdings not powered up as HP: liquid HIVE and HBD plus holdings within Hive-Engine. Also note that such 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 @MPATH account.
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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