Welcome to the MPATH Weekly Report.
Some good news this week as the MPATH reward distribution has risen significantly, mainly due to DCity income.
I must stress again something I mentioned last week: our returns are only marginally affected by sharp changes in the external price of HIVE. The outgoing votes do get affected but only temporarily as the reward pool adjusts to dampen any price shocks. Please read last week's post as some deep confusions persist as to how the Hive economy functions.
We have also seen some new token sales, and is great to see the backlog of pending open sales cleared up by members. This effect is due to the inclusion of MPATH in the DHEDGE fund, something I wrote about before. Note that such fresh income will appear on Hive-Engine first and has not as yet been converted and powered-up; to avoid exchange fees it makes more sense to power-up again the current weekly power-downs! If we sell substantially more tokens then, of course, I shall convert and add them to our active HP.
It may, indeed, be time to increase our limits on MPATH holdings from 2k for upvotes and 5k for rewards - possibly to 3k and 6k respectively. We shall see if there is sufficient demand to do so. Such limits only exist to avoid large accounts distorting the voting algorithm; they make little difference to the payouts as those are proportional to tokens held.
This week's distribution has gone from 58 to 70 HIVE; that's a +20% increase - enjoy the new tokens!
And on to my usual closing remarks...
As ever, I give the caveat that individual member returns depend on many things, but these are our baseline figures 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 35k HP, so even if the VP is down to 60% that's still an effective vote from a 21k HP account.
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 benefits.
For full details, please read How the MPATH Program Works [May 2020].
Have a good week!
The MPATH headline figures are:
MPATH tokens active = 39,990
Earning HP = 39,636
Voting HP = 36,595
HP in MPATH = 19,330
Other HIVE = 2,365
Total HIVE = 21,695
MPATH ABV = 0.523 HIVE (+0.002, +20% APR)
Estimated Gross Earnings = 6.94 HIVE per 1000 MPATH = 37.7% APR
(7.24 = 1.75 income + 5.49 votes)
Estimated Net Earnings = 4.20 HIVE per 1000 MPATH = 23.4% APR
(4.50 = 1.75 income + 2.75 votes)
Total MPATH Distribution = 70.0 HIVE = 116.7 MPATH tokens (at 0.60 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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Looks pretty interesting
Going to Hoddle some Mpath :)
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