Welcome to this week's review.
The good news is that we have managed to liquidate some of our holdings and have thus increased our SP. Sales still appear to be very slow, but on the positive side there are also few sellers. We have also been able to buy back some MAPX tokens and are releasing them back onto the market.
We are keeping the permanent power-down as a useful small liquid fund in case we need it. As it happened, we didn't need it this week so has been powered up again. We shall continue this process of converting token holdings into SP. Our asset backed value (ABV) continues to be above 1 STEEM, so that we hold more STEEM assets than the number of tokens held in balances.
Our Vote Value per Token (VVT) is at 1.29, meaning that our token price is still good value compared to the upvotes being given out. If this drops to unity, then that would signal a fair market price, currently about 1.11 STEEM.
We are about to decrease the value of our one remaining delegation-miner. This signals that we are making progress in being able to stand alone with just our SP. A big thank-you to @eturnerx for his continuing support. A reminder that the task of the delegation-miners - now helping MAPXV - is to give members immediate benefits commensurate with our target aims right at the start of a program that may otherwise have a small amount of SP. As the fund-managed SP grows, so then the miners will no longer be needed and are asked to stop. Mining cannot last for ever as there is a limited number of tokens available before the mine runs dry.
Sales have been slow since just before HF21, but we are starting to see some fresh sales and that is heartening. It may be worth reading the previous weekly statement as it has a longer discussion of how to navigate the New Model Steem. Indeed, I know that a small number of people actually read these posts and they have come to realise that these are more than just number crunching. They often hold ideas about how best to profit from the blockchain. It would be good to read such ideas from multiple sources and then construct the best way forward for yourself, otherwise you end up believing whoever you trust.
Have a good week!
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. We are also aware that HF21 is imminent although there is no fixed date as yet.
The headline figures are:
MAPX tokens active = 9060
SP in @MAP10K = 7363
Mining SP = 4,000
Other STEEM = 2366
Total STEEM = 9729
Total Income = 46.40
Fee = 4.64
Total STEEM carried down = 9724
MAPX ABV = 1.073 STEEM
MAPX VV/STEEM = 1.43
MAPX VV/Token = 1.29
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; we also now have stakes in MAPR, PAL and LEO, and some others, and receive rewards from them. 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.
Income includes rewards and token trading profits but excludes token sales.
The Asset Backed Value (ABV) is our total holdings calculated in STEEM divided by the number of active MAPX tokens, whether staked or unstaked. This shall be used as the lowest price we offer MAPX tokens on the Steem Engine market.
If VVS > 1.0, then MAPX stake-holders are getting upvotes of greater value than the par 0.1% per token.
If VVT > 1.0, then MAPX tokens are under-priced on the market and good value to buy.
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.
ONECENT: The First Strategic Token Investment Game (STIG)