Launch of the MAPXV vote-bond token [Steem Fintech]

Our first vote-bond, MAPX, has been running successfully for 2 months and will soon be fully subscribed. It is therefore time to launch our second such token: MAPXV.

The "V" in MAPXV stands for Very-High and we are confident that the returns on this new token issue will match its name.

I call these "investment vote-bonds" as they work in a very similar way to traditional bonds. The "interest" on the token is "paid" through Steem upvotes while the token itself increases in value as income from the fund is reinvested into the underlying Steem Power.

You can buy MAPXV tokens, use the upvotes on your blog for a few months, then sell them with a potential profit on the price too.

Each token is more than a generator of votes, it is also an investment in the whole MAPXV fund and the underlying capital that delivers those votes. MAPX (without the V) has been operating this way for two months and, as I write this, has over 110 token-holders. You may also notice that there are very few sellers of our token.

MAPXV Basics

One MAPXV token bought on the Steem Engine DEX entitles the user to 2 post upvotes per day with a weighting of 0.2% per token.

So 500 MAPXV tokens will generate two 100% upvotes per day.

A user may hold more than 500 tokens as investment but the votes are obviously capped at 100%.

The total MAPXV fund has a maximum of 20,000 tokens.

The votes are generated automatically and take up to a day to process. This is not because our algorithms are slow but to avoid gaming the system. There is no staking, therefore there is no unstaking period - with MAPXV you need a little patience at the start but can buy and sell the tokens without having to wait. If you feel you have not received an upvote within 48 hours then please leave a comment on a post.

If you do the calculations, you will see that a MAPXV token-holder receives up to 8 times more from the tokens than from the same investment in Steem Power! This assumes the fund is running at full SP, but the experience of MAPX is that the early delegation-miners actually increase the voting SP beyond its target - the current MAPX members are very pleased about this and seem reluctant to sell their tokens! Try buying one.

Mining MAPXV Tokens

MAPXV tokens can be mined using SP delegation-mining. There will be no mining tokens issued. The token mining-rate is currently set at 3600 SP-days. This means that delegating 1000 SP will produce 1 MAPX token every 3.6 days. This comes to just over 10% per year. However, the price of each token is likely to be somewhere in the range of 2 to 8 STEEM each, so this is really a very good rate in terms of STEEM per SP delegated.

To become a MAPXV delegation-miner just delegate the SP to the fund account @mapxv. Tokens are currently paid out manually as the fund is relatively modest in size. If anybody wishes to undelegate, then they will be sent the proportion of tokens earnt during the days mined since the last transfer.

Delegated SP	Days	Tokens Earnt
3600	1	1
1800	2	1
1200	3	1
900	4	1
600	6	1
300	12	1
200	18	1
100	36	1

If you are considering delegation-mining MAPXV tokens, then please ensure your delegation amount is either one of the above numbers or a factor of 3600 to make calculating token payouts easier.

Note that the current mining rate of 3600 SP-days is subject to change and miners will be notified of any such changes promptly. This is especially true with the effects of HF21 on the horizon.

Comparing MAPX and MAPXV

The MAPX vote-bond has been running successfully for 2 months with both token-holders and miners benefiting from the investment program. The launch of MAPXV is to give users and investors another option; especially for bloggers who post more than once a day.

It is worth comparing the two programs side by side.

	MAPX	MAPXV
Upvote weight	0.1%	0.2%
Votes per day	1	2
Tokens for 100% upvote	1000	500
Tokens available	10,000	20,000
Daily total upvote weight	1,000%	8,000%
Upvote value per day	x10	x80

The "upvote value per day" shows how much our upvotes are worth compared to using the same STEEM as one's own SP. For MAPX, one vote per day is equivalent to 10 self-votes; this means just one vote will cover a whole day's self-voting (without needing to self-vote). In contrast, the new MAPXV will deliver upvotes worth 80 times their underlying SP, or 8 times one's daily upvotes.

More than this, both MAPX and MAPXV are designed to compound their income so that over time their SP is significantly higher than the number of tokens in each fund.

However, this is not magic, it's mathematics, and there are consequences. MAPX is designed to remain in a VP range of 80-100% so that all token-holders may receive their daily vote at the best possible power. With MAPXV, the much higher voting weight will erode the voting power of the SP. In theory, running at full throttle with every token sold and every user posting twice a day, the VP may go as low as 20%. But you're still getting 8 times the value of a 20% upvote, or 160% for the day - and that's the absolute minimum.

To be clear about this, one MAPXV token will give the holder daily upvotes equivalent to between 160% and 800% of the underlying value, assuming that same token was powered up as personal SP at a price of 1 STEEM.

Pricing MAPXV Tokens

Such returns come at a price. The MAPXV token is on the Steem Engine DEX and therefore subject to market forces, just as MAPX has been for 2 months, and therefore each and every potential investor can decide how much our tokens are worth. What I will say is that we are not going to release 20,000 tokens at just 1 STEEM each. We are launching MAPXV with some very attractive prices, but the price will rise to reflect the underlying value.

And don't forget that this is not just an upvote service but also an investment in the underlying SP and the overall management of the MAPXV fund. This is why I call them upvote-bonds: the interest is paid as upvotes and the underlying capital is increased by compounding rewards and trading income.

What do we get out of it? Management fees are 10% of weekly income - these come from weekly profits, not from token sales. The Steem economy currently supports income of about 20% APR from the rewards generated by the inflation rate. So our fee is just 2% per year on the capital fund that we manage.

How to buy MAPXV and MAPX tokens

Both MAPXV and MAPX tokens are listed on the Steem Engine DEX.

Check them out now... especially the early-bird discounts on the newly-minted MAPXVs!

Any questions, please leave a comment.

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