Our weekly report for both delegators and token-holders of M.
Delegators have received their token distribution and token-holders see the price rise to increase their value this week.
M News
As mentioned a few times, delegators with less than 100 SP shall no longer receive any distribution of rewards. A list was published in a previous post, so it is up to them to act.
The next milestone is to reach a price of 0.96 HIVE; at that point, that will be the last distro for all delegators. I see a few have actually increased their delegations recently. I shall not honour any further delegations during the last week of operation.
This should take maybe 2 more weeks. In the meantime, the program will continue as normal, although larger power-downs have been initiated to cater for any extra token sales.
There isn't some fanciful numerological reason for 96, but it does give the fund a few more weeks to itself undelegate and liquidate certain holdings, and generally wind down in an orderly manner. Those of you who have invested in other of my tokens, will recall that it can all be quite painless - with a bit of patience.
We actually see a blip upwards in rewards this week. This is due to one large delegation being removed, hence although gross rewards are down they are shared among fewer delegators. I do expect this to drop again next week, but it is also a part of the game theory that few have taken advantage of: that selling M tokens increases the proportion of rewards going to delegators. Perhaps too late now, but we shall see some volatility in these last 2 weeks.
No further new delegations shall be accepted - this includes increasing current delegations.
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 = 0.228% = 11.9% APR
Buyback price = 0.9580 HIVE (+0.001) = +5.6% APY
Hive gross actual vote = 18.8% APR (-0.2)
Hive net author rewards = 9.0% APR (-0.2)
Dlease Hive lease max = 13.1% APR (+2.7)
The Hive vote estimates are calculated based on the average weekly prices. The "gross actual vote" is now calculated based on our HP and is the same as the old "gross linear vote", that we have now removed; the "net author rewards" estimates the payouts adjusted for HBD and assuming a "gross actual vote".
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.
New delegations now closed.
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.
The story of M:
Have a fine week!
Any questions, please ask in the comments below or in our public chatroom.
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