A brief communication to current and future MAPX members.
We are a few hours away from the launch of the new Hive chain, so time for a further update.
I mentioned in the previous post that the recent turmoil on Steem, including undelegations and token sales, has left MAPX largely unaffected. We have ample SP supporting our staked tokens, no delegators and very few recent liquidations.
However, I am coming close to the time to decide about whether to have a MAPX program running on Hive. My feeling is that MAPX shall remain on Steem but will not operate on Hive. The argument is the same as I made for MAPXV. Worth reading that post as it is a bit longer.
In essence, MAPX and MAPXV were developmental vote-bonds that led to the creation of the more recent MAXUV. All three were doing very well in terms of sales until the HF21/22 event. Interest was finally picking up again when we were dealt a second blow by the Steem-Tron saga. In my opinion, and given the novelty of Hive, it is best to concentrate on running MAPR and MAXUV on the new Hive platform. Hence, the MAPX and MAPXV votebonds are best left on Steem for the time being.
This is not a support for the current Steem but an acknowledgment that members have placed their trust and money in the programs and very few have sold their tokens. Without receiving any public comments, this tells me that there is no desire for MAPX to close down or unwind. However, I feel that launching three rather similar products on Hive may not be so prudent or successful. Hence, I would like to concentrate on one vote-bond on Hive, that being MAXUV.
Therefore, once Hive is up and running and we can see the tokens in the MAPX account, plus some further clarity on how Steem-Engine assets will be handled, then I would like to calculate a HIVE token value per MAPX token and distribute those tokens to every member. This will be an extra bonus for being MAPX holders and Hive users.
I hope MAPX members feel this is an equitable solution and that they may use this windfall to invest in the Hive version of MAXUV.
The situation may yet change swiftly, so please take the above as the most recent iteration of what will happen.
Have a fine week!
What is MAPX?
MAPX was our first "vote bond" in the MAP FinTech family of programs. It is designed to deliver a 0.1% upvote per token held, with a maximum holding of 1000 tokens. The fund has a total of just 10,000 tokens available. MAPX token holders also benefit from profits being compounded into SP so that the token price should slowly rise.
MAPX is thus designed like a bond in that "interest" is earnt as upvotes, plus each token is backed by STEEM so that the capital value slowly increases in line with our fund. MAPX is managed by the same team as MAPR, which has been distributing profits to Steemians for 20 months.
As MAPX tokens have nearly sold out, we would encourage new members to consider the open-ended token @MAXUV.
For the latest Steem news, please check @pennsif's daily aggregator.
This is the last of four articles mocking the crypto gaffes of the year.
This year is already filling up quickly.
A small plug for our big brother, MAXUV!
OK, time for some prizes!
Enjoy your day!
We have opened up a former MAP channel on Discord for anyone seeking advice or more information regarding any MAP FinTech program. You can find us here.
ONECENT: The First Strategic Token Investment Game (STIG)
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