MAPX now has some 8,920 tokens sold and about 8060 staked.
Today is all about the upvotes!
As some of you have noticed, the value of the upvotes from MAPX have decreased; this has actually been over a period of a week or two. The reason is that most delegation-mining has stopped and therefore those delegations are no longer supporting what used to be very large upvotes.
Most of the recent posts have announced that the delegation-mining will stop once we reach 9,000 tokens sold; with only 10,000 tokens in total, it means the remaining 1,000 or so tokens are reserved for buyers.
Even when promoting the very high upvotes that were coming from about 35,000 SP, there was always the warning that this would be a "limited time" offer; it wasn't just a sales pitch, it was true. Even this slightly tongue-in-cheek promotional post mentions that all the upvote magic happens because of the delegations. As those have now largely come to an end, so the upvotes have come down to their normal level for the fund.
Just to stress that token-holders are not losing anything, just that the "good times" have come back to normal. Indeed, the MAPX market price has never really taken off like the MAPXV price has. There were good reasons for not letting it get out of hand because I knew this day would come.
A bit of administrative juggling, some undelegating from the @map10k account and some selling of tokens held will see the account SP move back above 10,000. So what is the value of a MAPX token now? Well, the simple calculation is to just divide the voting SP by the number of staked tokens. This is not the same as the ABV, which is the value of the fund divided by all the sold tokens, whether staked or not.
So, to make it easier for everyone, I shall publish from now on a "voting value" alongside the ABV. By this weekend, with undelegated SP coming back to the account, we should be at a par value of around 1.15-1.20 STEEM. By some miracle of foresight, this is pretty much the market value at the moment.
Just to add as a coda, the MAPXV token is different and its intrinsic upvote value is somewhere around the 3 STEEM mark, and that's taking HF21 into account, otherwise would be closer to 4 STEEM. So, just as I held the MAPX price down, so I shall let the MAPXV price rise - all, of course, subject to interested buyers.
Any further questions, please ask.
Have a fine day!
OK, time for a random bonus! As hinted last week, I'm going to dispense one free upvote on each weekday post.
Today's 10% upvote goes to... @mermaidvampire. Congratulations!
A 10% upvote from MAPX is equivalent to 100 MAPX tokens and today is worth 0.0482 STEEM. (Note that multiply this by 365 days in a year and we get 17.6% APR - will do this again when all our SP is back.)
Enjoy your day!