This week's distributed profits are 0.566%, equivalent to an APR of 29.5%.

The gross income was 0.786%, with 10% going towards management and development and 18% to support the MAP community.

Profits have already been paid to SP delegators in STEEM.

To delegate SP to MAP Rewarder, please read our [Introduction document](https://steemit.com/mapforum/@accelerator/introducing-the-new-map-rewarder-passive-income-for-delegators-doc-1-0).


## News

Our curation rewards are well over 100% of our upvotes, yet our overall returns do not reflect this. I was puzzled, so went back to basics to find the reason. My conclusion is that I had overestimated the value of an upvote.

At the moment, a 1000 SP account voting at 100% produces a pending reward of $0.235. Taking a snapshot of the STEEM price at $3.50 and SBD at $4, that pending reward is equivalent to 0.007% of the account SP. In one day, that comes to a total of 0.07%, and for a week the return is 0.49%, let's call it 0.5%. So, because upvotes are based on STEEM and curation rewards are paid out only in SP (also in STEEM), our baseline weekly gross return should be just above 0.5%. The good news is that it is!

However, when that $0.235 upvote is paid out, deducting 25% curation rewards and adjusting for the price of SBD, the value of that upvote increases to about $0.44. This is equivalent to 0.0126% of the original 1000 SP; this gives a daily total of 0.126% and a weekly return of about 0.88%. This results in an APR of about 46%.

Our weekly gross rewards should therefore be within this region of 0.5% to 0.88%; this gives a net rewards distribution target of about 0.65%. My original attempt to reach 1% per week may still happen in a week with high author rewards, but a target of 0.65% is a realistic top estimate.

How did previous weeks achieve more than this? With lower SP, the author rewards were able to make a significant difference to the overall income. Now, with higher SP, the proportion of author rewards is lower (as these rely on others upvoting), hence the curation rewards produce the bulk of profits. In one sense, this is good news, in that we have control over our curation rewards strategy. On the other hand, our total returns are sensitive to the price of SBD.

Remember that this is still a new project and new insights may come as the market prices change. One thing that has struck me recently is that our overall returns will be higher with lower STEEM and SBD prices. While prices are falling, that is not helpful, but relatively stable lower prices will increase our income. Without meaning to, this may well be the first contrarian investment vehicle on Steem!

## Personal News

This post is coming out a little early as I have to rush off to the funeral of my father-in-law, which is a 4-hour drive away. I shall try to find local Wifi sources but rural connections are not guaranteed.

Next rewards distribution will be on Sunday 4 March.


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<center>- - ![](https://i.imgur.com/MtKq9KV.jpg) - - ![](https://i.imgur.com/9Mvn9fs.jpg) - -
Please Comment, Resteem and Upvote. Thanks!

@rycharde manages the [AAKOM project](https://steemit.com/@aakom) and the [MAP forum](https://steemit.com/@accelerator).

Check out the new [MAP Rewarder](https://steemit.com/mapforum/@accelerator/introducing-the-new-map-rewarder-passive-income-for-delegators-doc-1-0) for passive income!</center>