This is the second full profit statement from MAPXV. In spite a rather depressing market, sales are going well and current stake-holders are getting some very high upvotes.
As with MAPX, we are introducing two new parameters so that existing and prospective token-holders can better judge the value and price of MAPXV tokens.
Firstly, the Vote Value per STEEM (VVS) is the voting SP divided by active MAPXV tokens that are receiving upvotes. The raw number is then multiplied by a factor of 8 because MAPXV is designed to give out 8 times a member's self-votes for the same invested SP, and finally multiplied by the average VP of our voting account. The latter figure obviously changes but it will be fairly obvious as the mean VP goes from about 90% to 80% to 70% etc.
As you can see below, this week's VVS is 48.00. This appears to be fantastical but is perfectly correct; similar to the experience of MAPX, the delegation-miners are giving the fund more than full SP even though there are far fewer token-holders benefitting from it.
The second parameter is the Vote Value per Token (VVT), which is VVS divided by the current MAPXV token price. If the token was being fairly priced, VVT would be at about 1.00. The current value of about 30 just proves what I've been saying since launch: MAPXV tokens are currently under-priced and not just good value - they're a bargain!
So, let me just sum up why the values for MAPXV are so much higher than for MAPX. MAPXV is designed to have par values of VVS=8 and VVT=1, whereas MAPX is designed to have VVS=1 and VVT=1.
One other metric to note is that our ABV has risen from 1.12 to 1.16. This means that based on assets alone, without any upvotes, the fund is worth about 1.16 STEEM per token. This will continue to rise as the fund rises.
The headline figures are:
MAPXV tokens active = 3840 (+396)
SP in @MAPXV = 2488 (+475)
Mining SP = 24,000
Other STEEM = 1970
Total STEEM = 4458
Total Income = 196.80
Fee = 19.68
Total STEEM carried down = 4438
MAPXV ABV = 1.16 STEEM
MAPXV TT/STEEM = 48.00
MAPXV VV/Token = 30.98
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 stakes in MAPR, MAPX, PAL and LEO, and some others, and receive rewards from them. 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 @MAPXV account.
Income includes rewards and token trading profits but excludes token sales.
The Asset Backed Value (ABV) is our total holdings calculated in STEEM divided by the number of active MAPXV tokens, whether staked or unstaked. Given that MAPXV token holders are getting 8 times the equivalent daily upvotes per STEEM, and adjusting for a variable VP, I shall leave it to the investor to calculate a market price for MAPXV tokens.
If VVS > 8.0, then MAPXV stake-holders are getting upvotes of greater value than the par 0.2% twice per day per token.
If VVT > 1.0, then MAPX tokens are under-priced on the market and good value to buy.
Building Steem's Fintech
[BUY MAPR] - [READ MAP REWARDER]
[BUY MAPXV] - [READ MAPXV]
Plus Some Serious Funtech
ONECENT: The First Strategic Token Investment Game (STIG)
