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.
M News
A fairly good week, with reward distribution up on last week.
The price increase is the equivalent of 12.0% APY, with the distro coming in at 15.1% APR.
Note that the yield of the Hive blockchain has nudged down, even though the coin prices have been surging. This is the normal behaviour encoded in the econometrics: if the price rises and activity rises to earn more, then the reward pool shrinks and returns can slightly decrease in HIVE terms; returns may still be increasing in Dollar terms.
I am waiting to see how DCity develops before increasing the buyback price further. That just seems prudent, as yields there have dropped dramatically. Note, however, that they are likely to settle far lower than before but still, hopefully, higher than other Hive games. Just as on Hive, there is a dynamic in the relative importance of HIVE versus HBD, so on DCity there is a balance between SIM and HIVE earnings. It is possible to restructure one's city to find an optimal earning strategy as the game metrics change. I wrote more here, so please read that post if interested.
Indeed, we see that nearly all tokens on Hive-Engine are being dragged down by the rise in HIVE price. We have seen this before and it is a consequence that token admins should be aware of. Whether they can do anything to mitigate what looks like a bad price slump rather depends on the token structure. However, they can all do a quick calculation to see that their token may possibly also have risen in Dollar terms. This, sadly, may make them even more tempting to sell and cash in their current value.
C'est la vie.
The Numbers
Distribution to delegators = 0.289% = 15.1% APR
Buyback price = 0.926 HIVE (+0.002) = +12.0% APY
Hive gross actual vote = 15.1% APR (-0.2)
Hive gross linear vote = 23.5% APR (-0.2)
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.
Minimum delegation is 10 HP. Changes in delegation, including new ones, start earning rewards after 2 days.
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.
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