MAP Rewarder: Distributed Rewards for 23 September 2018 (APR 15.6%)

This week's distributed profits are 0.300%, equivalent to an APR of 15.6%.

Compare this with the bidbots listed on iSteemd and you will see that MAP Rewarder is doing well and that there has been a 10% drop in earnings across the ecosystem due to the HF20 glitch.

The values below that relate to the Steem blockchain are now given as 7-day averages to give a fairer picture of what has happened during the whole week.

Let's lay out the different percentages to make them clearer. These are all calculated in terms of STEEM per SP.

Gross turnover inc. payouts = 0.371% (APR 19.3%) [1]
Gross income ex-payouts = 0.353% (APR 18.4%) [2]

Value of Steemit upvotes = APR 20.9% [3]
Value of Steemit rewards payouts = APR 15.7% [4]

Distributed MAPR payouts = 0.300% (APR 15.6%) [5]
Total MAPR payouts = 0.318% (APR 16.6%) [6]

[1] Gross turnover generated for the week.
[2] Gross income minus the random free upvotes, SBI shares given to delegators and MAP upvotes.
[3] Theoretical maximum value of Steemit upvotes, assuming 10 full upvotes at 100% power for 7 days, averaged over 7 days and expressed as an APR.
[4] Theoretical value of Steemit upvote rewards, assuming 25% curation rewards, 50-50 split of post payouts and SBD print rate, averaged over 7 days and expressed as an APR.
[5] MAP Rewarder distributed payout sent to delegators this week; this is 85% of [2].
[6] Total payouts for the week, equal to {[5] + [1] - [2]}.

Note that this week MAP Rewarder is able to generate income that is slightly below the theoretical maximum for pure upvotes - that is, [1] is slightly less than [3]. This includes upvotes to quality content curators and MAP Rewarder delegators.

Note that this week our total value of payouts and upvotes is slightly lower than the theoretical maximum for pure upvotes - that is, [6] is lower than [3], but higher than [4]. This is likely to remain true until the value and print rate of SBD increase again.

Finally, our weekly distributed profits to delegators is the same as the level of post rewards payouts - that is, [5] is almost the same as [4].

Also notice that our distributed payouts are 15.6% APR but out total payouts, including upvotes and prizes, is 16.6%, so that [6] is higher than [4].

Profits will be paid today to SP delegators in STEEM.

Benefits of Delegating to MAP Rewarder

= a high weekly payout in STEEM. Our returns are higher than many other income sources on Steemit - just compare our returns with various bidbots. On top of this weekly payout, we have:

= free upvotes to delegators. These are currently set to come from the @accelerator account. These are "bonuses" and can add a significant return, especially for smaller SP delegations.

= random free full upvote and free SBI share once per week. See our recent Free Vote Friday and Free SBI Saturday.

So, three different sources of rewards plus a high weekly payout!

I hope this will stimulate some further delegations and will help some users make a significant return on their SP. But please remember that the first distributed profits will be received on the first Sunday after 7 day from the time of delegation - the cut-off is midday GMT on Sundays.

How to Delegate to MAP Rewarder

To delegate SP to MAP Rewarder, please read our Introduction document.

You can also delegate using these links:

10 SP, 20 SP, 50 SP, 100 SP, 500 SP, 1000 SP, Other.

If you do not have spare SP to delegate, then you can still follow our Curation Trail or Fanbase on SteemAuto (or follow us on Steem Voter), and gain some higher-than-average curation rewards.

News

I have changed the layout of our numerical data; I hope the different numbers are slightly clearer!

Much of what I used to write here in the News section can now be read at the top of the article as addenda to the table.

All our percentages are calculated like-for-like based on STEEM so that these are real returns in STEEM per delegated SP (which is also priced in STEEM).

A reminder that we have two missions: to be profitable to delegators and to support our MAP Curator Trail and thereby improve the quality of posts on Steemit. The @accelerator account, ignoring the delegated SP, is growing slowly but steadily and forms the basis of our upvotes to curators who are in the MAP Trail.

Important News

This has been a turbulent week; the glitch in rolling out HF20 resulted in a loss of about 18 hours of activity. This means there has been about a 10% drop in earnings across the board, including bidbots. A look at the top witnesses shows that most are now running v 0.20.1 so switching on HF20 should now be on schedule and, hopefully, without incidents.

However, I'm not sure how the community will react to these changes, nor how the prices of STEEM and SBD will be affected. The only certainty is that we shall see another turbulent week, albeit for different reasons.

The printing of SBD will restart and the effect of this will depend critically on its price compared to its $1 peg on the blockchain. A pump in price will lead to a similar ecosystem to what we had a few months ago, with post payouts being higher than the theoretical payouts due to inflated SBD price. This will put pressure on the value of an upvote and we may see theoretical values drop further as they depend on the ratio of the reward pool and the recent claims. This will continue to play out until SBD reaches its new ceiling of 9% of the STEEM market cap, then a reduction in SBD printing rate will kick in once more.

This "inversion" whereby the value of reward payouts is higher than the blockchain's active inflation rate (value [3] above) is not sustainable but can be profitable to some. Worth a reminder that the reason why the current returns on the blockchain are higher than its inflation rate is because not all STEEM is vested, and not all vested STEEM votes to its capacity. Thus any increase in activity will lower current rates towards the designed inflation rate. Any increase in SBD price will off-set this, but only temporarily.

At the same time, I suspect many people have not yet taken into account the changes to voting rules, especially that the author-curation-rewards will no longer be paid to the author but will instead go to the reward pool. This means that if you are voting early precisely to give the author extra rewards, then you must change this tactic as the author will not receive the extra curation rewards. This will also stop those who have been either buying votes or self-voting early so as to rake in the extra curation rewards. I suspect most users will change their behaviour only once they see the results of HF20.

Next rewards distribution will be on Sunday 30 September.

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Please Comment, Resteem and Upvote. Thanks!

@rycharde manages the AAKOM project and the MAP Trail.