MAPX Token Weekly Statement & News - 19 April 2020 [MAP Steem FinTech] (Hive)

in #upfundme3 years ago (edited)

We continue to post info on Hive as we suspect some of our members are more active here. MAPX token holders must get in contact as we wind down the program.


Welcome to this week's review.

A reminder that every MAPX members must read this announcement, and must get in contact about their prefered option.

I have not set any deadlines yet, but there will be. The first thing that will happen is that the upvotes will stop once they get too low. Eventually, those users who have not been in touch will have their MAPX tokens converted into MAXUV tokens and then your MAPX tokens will be worthless and will no longer be exchanged. We are a few weeks away from this, but I do have concerns that so many token-holders have not expressed their option. I shall announce such deadlines with plenty of time to act.

Power-downs continue to be distributed on Mondays. Members who are in the queue will then be processed - large accounts will be done in batches. Just to add that in the numbers below it looks as if we still have a large amount of SP compared to tokens, but this just means those "missing" tokens are in the queue to be paid out or were exchanged for MAXUV and the STEEM value will be sent once individuals have been processed.

A reminder that MAPX requires unstaking, but that only takes two days.

Those of you who also hold MAPXV tokens, please read those updates at peakd.com/@mapxv.

I shall post again on Tuesday after the latest distributions.

Have a fine week!

Important Update

As the new MPATH token has now been created and tokens airdropped from MAXUV, we are allowing the same "double token" swap for just one more week. This stops on Saturday 25 April. After that, both token-swaps and cashouts will only be done on STEEM. Everything in the queue will, however, be processed even if after this date.


What is MAPX?

MAPX was our first "vote bond" in the MAP FinTech family of programs. It is designed to deliver a 0.1% upvote per token held, with a maximum holding of 1000 tokens. The fund has a total of just 10,000 tokens available. MAPX token holders also benefit from profits being compounded into SP so that the token price should slowly rise.

MAPX is thus designed like a bond in that "interest" is earnt as upvotes, plus each token is backed by STEEM so that the capital value slowly increases in line with our fund. MAPX is managed by the same team as MAPR, which has been distributing profits to Steemians for 22 months.

As MAPX tokens are winding down, we would encourage new members to consider the open-ended token @MAXUV.


Please note that I always qualify any forward predictions as they are subject to technical issues such as the proper functioning of the blockchain and our own algorithms.

These abbreviated accounts are to keep members informed of the winding-down process. Some parameters have been removed because they are no longer relevant, but they are also highly volatile as many tokens are in the process of being unstaked or in the cahing-out queue. The aim now is to see the active MAPX tokens converge towards zero.

The headline figures are:

MAPX tokens active = 4036 (427 staked)
SP in @MAP10K = 8,175
Mining SP = none
Other STEEM = 451
Total STEEM = 8,626

MAPX = 1.1 STEEM (plus 0.99 HIVE) or 1.2 MAXUV (plus MAXUV-Hive)

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. 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 @MAP10K account.

Full details of how the MAPX token operates can be found at New MAPX Token for Upvotes and Value Growth.

Any questions, please ask in the comments below.



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