Some great news for both delegators and token-holders of M.
Delegators have received their token distribution and token-holders see the price rise a significant amount.
M News
Our new M token continues to be in "transition phase" as we build up its capital - I shall announce when it is back to normal operation, like MAPR. However, this transition phase is great for those people paying attention, as the token price, and hence the value of distributions, are rising much faster than normal.
We do not as yet have historical data to compare, so members will just have to be satisfied with our weekly figures.
Our headline income is 0.321%, equivalent to 16.7% APR.
However, our buyback price has also risen from 0.825 to 0.83 HIVE, which is an extra 0.6% on the week.
This makes our M token distribution far more lucrative than normal!
Our M sale price has also been increased from 0.925 to 0.93 HIVE. I am not sure we shall reach the 1.0 HIVE mark; as I've explained in previous posts, there has been some loss of value in the airdrop, but it's fresh money, so nobody should complain. What will happen once we come out of the transition phase is that the price spread will become smaller.
A reminder that token-holders do not receive any token distributions, instead they see their token value increase in the same proportion as delegators.
Hive News
I am compiling Hive blockchain data in the same way as I have been doing for Steem. the only thing to report this week is that activity and income is significantly higher on Hive than on Steem.
As Hive started as a fork of Steem, and the economic model has not changed, it is worth comparing the two reward pools: Hive has some 837k HP whereas Steem is at 929k SP. Without adjusting for price differentials, this in itself shows that there is more activity on Hive.
Also, taking 1 million as our whale HP/SP, a Steem upvote is worth around 33% APR whereas a Hive upvote is worth about 27% APR. Most users are still getting just above half of these numbers for their own upvotes due to the non-linear rewards curve, and then half again for just the author rewards.
A short post today; more next week as we build up our HP once again.
Have a fine week!
Any questions, please ask in the comments below or in our public chatroom.
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I am carefully following all of this while rebalancing the portfolio. We are switching to a more liquid stance, and really appreciate the updates you have made to your programs during this transition. Already I can see how much easier this is on you to manage now!
While I don't fully agree that this is 'found money', I really do appreciate you being honest and transparent with our found money that was entrusted to you. That there is slippage greater than that to holding liquid steem in savings is to be expected, after all we are also seeing outsized returns based on your capable management. I very much expect more forks to arise, and look to managers who have proven themselves capable to continue to build a Synergistic Network :)
"Found money"? Probably my "fresh money" comment. I should rewrite this next week as is becoming less relevant as we move away from the original airdrop.
I thank you for your support and, as you know, the opportunity and ability to manage this duplicate fund was largely due to holding as much as possible as close as possible to the base currency. Also, I assume by now everyone who is paying attention has made their decision regarding the two chains and my funds can move forward independently of their origins. Indeed, MPATH is seeing some new interest, so is almost like the start of the first vote-bond, MAPX, but hopefully a bit more mature :-)
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