Our weekly report for both delegators and token-holders of M.
Delegators have received their token distribution and token-holders see the price rise a significant amount.
Apologies, late again! never mind, members were paid on time.
M News
This week we see a slight increase in distributions. We also see an increase in Hive yields.
Our income and capital holdings are steady, even if some tokens continue to be volatile. Hence we can continue to increase our own M token price. A reminder that the value of the tokens earnt is both their quantity and their value.
I have finally made a change to the MAPR token, so expect something similar for M.
Worth remembering that our yields are actual payouts, whereas the estimates for the chain's vote-yields are gross values that are then split between author and curator. So even if the numbers look equal, our payout is double what you would get from an average 50% curation yield. Just to hammer home this point, I've added another metric to the list below: the Hive net author rewards. These will usually be about half the linear gross vote for a whale, so remains an over-estimate of what most authors will be getting most of the time.
Interesting to see how the different Hive yields change from week to week; this week we see author rewards have risen more than the other, due to HBD being above $1 again. Falls in market prices do not affect yields very much, as the median blockchain price takes time to react.
Note that Hive HF25 that is coming at the end of June. I expect to see some sudden changes in income, before the reward pool reacts and settles down to some new plateau.
One change to our terms. Please see below that the minimum delegation has been increased to 100 HP. Honestly, delegating 10 HP is not of much use to anybody! For the moment, we are allowing existing delegators under 100 HP to continue receiving distributions, but any changes in the amount delegated must then meet the new minimum. We reserve the right not to issue rewards to such accounts if they do not meet the new minimum. Thanks to a few members who I notice have increased their delegations in recent weeks.
We continue to navigate through a volatile period. It remains interesting to see that what may be good for HIVE need not always be so good for the tokens priced in HIVE.
The Numbers
Distribution to delegators = 0.265% = 13.8% APR
Buyback price = 0.948 HIVE (+0.001) = +5.7% APY
Hive gross actual vote = 15.8% APR (+0.0)
Hive gross linear vote = 24.5% APR (+0.3)
Hive net author rewards = 14.5% APR (+2.0)
Dlease Hive lease max = 13.5% APR (+0.3)
The Hive vote estimates are calculated based on the average weekly prices. The "gross actual vote" is calculated based on our HP; the "gross linear vote" is calculated based on a stake of 1 million HIVE and hence approximates to the reward curve's linear asymptote; the "net author rewards" estimates the payouts adjusted for HBD and assuming a "gross linear vote".
Note that these gross votes are then split between author and curator so that, on average, an individual will get half of these values.
Minimum delegation is 100 HP. Changes in delegation, including new ones, start earning rewards after 2 days.
Existing delegators under 100 HP who change their delegation must then conform to the new minimum or forfeit earnings.
The buyback price increase is shown as an APY because members are automatically compounding their tokens, whereas the distribution uses an APR value as that reflects the delegation income. Older-style info can be seen in our last post using the old format. The new format is explained in more detail here.
Have a fine week!
Any questions, please ask in the comments below or in our public chatroom.
[BUY MPATH] - [READ MPATH]
[BUY M token] - [READ M posts]
