Our weekly report for both delegators and token-holders of M.

Delegators have received their token distribution and token-holders see the price rise a significant amount.



<center>https://i.imgur.com/jju1jSH.jpg</center>

### M News



This week we see overall earnings and distribution nudge up a small amount compared to last week, but still holding well above the estimate for the Hive blockchain. Our buyback price has also risen by just 1 point, as last week, in order to adjust to the falling values of third party token investments.

Worth remembering that our yields are actual payouts, whereas the estimates for the chain's vote-yields are gross values that are then split between author and curator. So even if the numbers look equal, our payout is double what you would get from an average 50% curation yield.

Note that the yield on M tokens is higher than the vote-yield for our level of HP (14.7% APR) and about the same as what is available on Dlease (14.8-14.5% APR), although I note those high returns are for quite large delegations.

One change to our terms. Please see below that the minimum delegation has been increased to 100 HP. Honestly, delegating 10 HP is not of much use to anybody! For the moment, we are allowing existing delegators under 100 HP to continue receiving distributions, but *any changes in the amount delegated must then meet the new minimum*. We reserve the right not to issue rewards to such accounts if they do not meet the new minimum.


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 = 0.284% = 14.8% APR

Buyback price = 0.937 HIVE (+0.001) = +5.7% APY

Hive gross actual vote = 14.7% APR (+0.3)
Hive gross linear vote = 22.8% APR (+0.4)

The Hive vote estimates are calculated based on the average weekly prices. The "gross actual vote" is calculated based on our HP; the "gross linear vote" is calculated based on a stake of 1 million HIVE and hence approximates to the reward curve's linear asymptote. 

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.

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](https://peakd.com/hive-175254/@accelerator/map-fintech-m-token-distribution-to-delegators-and-price-increase-21-december-2020) using the old format. The new format is explained in more detail [here](https://peakd.com/hive-175254/@accelerator/map-fintech-m-token-distribution-to-delegators-and-price-increase-28-december-2020).


Have a fine week!


Any questions, please ask in the comments below or in our [public chatroom](https://discord.gg/yWmrVFC).

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