Blurt Economic Indicators - 12 December 2021

My weekly look at Blurt's economic indicators.

All rises and falls are relative to last week.

Blurt Economic Indicators

BLURT Supply = 443.3 million
Vested BLURT = 53.0% (+0.1)

Reward Pool = 1.911 million BLURT (falling)
Recent Claims = 115.5 TRshares (rising)

Vote Yield estimate (100k BP) = 32.2% APR (falling)

Author/Curation Yield estimate = 16.1% APR (half of the Vote Yield)

You can also see the raw numbers on a blockchain explorer.

Insights

This week sees a similar trend to the recent weeks, with the recent claims rising and the vote yield falling. This time, the reward pool has edged lower, meaning that the on-chain activity is at a faster pace than the coin minting rate.

Worth repeating a snippet from last week.

This is what onboarding looks like: more users, more posts, more votes and lower yields. However, if you are vesting your earnings and increasing your BP then your actual rewards in BLURT may still be rising. That just depends on whether your compounding rate is higher than the drop in vote yield.

For example, the drop from 33.4% to this week's 32.2% is a fall of 1.2% points, equivalent to a 3.6% fall from last week - so if you have 1,000 BP that means that just 36 BP of additional vested rewards will balance the small drop in yield.

Comparisons

The Blurt yields at the moment continue to be high - I don't think I can any longer say that they are higher than defi pools, but they definitely don't suffer any "impermanent losses".

A comparison with the other Graphene chains done using the DLease delegation rates.

Steem DLease rates: max 34.5% APR (average 23.1%)
Hive DLease rates: max 11.0% APR (average 7.0%)

Those rates have always tracked the profitability of each chain and have the advantage of being one simple number.

Although Vote Yields are expressed in terms of financial returns, they are also fundamental expressions of the level of activity on each chain relative to the coin minting rate.

Hive has undergone HF25 and, as predicted, rates have fallen towards the chain yield. Steem is higher due entirely to the high SBD.

We now have a BLURT price feed within the Blurt wallet, so I no longer need to give my weekly price comparisons. Instead, I shall show the difference between our BLURT feed estimate and the BBLURT price.

BLURT feed: $0.0322 (-5%/week)

BBLURT price: $0.0310 (-12%/week)

Note that any swap pool price will not necessarily reflect open market prices. A swap price will only change when there is an actual trade; buying BBLURT will increase the price and selling BBLURT will lower it. There are no "open orders", so every transaction will have an effect. This is how arbitrageurs make their money: buying and selling price discrepancies across different markets.

Having flirted with the $42k level, BTC currently hovers around $49k. These dips are opportunities to stock up on some alts - in the past year Bitcoin's dominance has fallen from 67% to 40%. This aim was stated by many fund managers at the time. Diversification.

I would also note that those users who are concerned about the BLURT statistics on CoinGecko realise that their price is now taken only from Probit and the BBLURT pool. So, if you wish to influence the public manifestation of the BLURT price then buy it on one of those platforms! Probit has by far the lowest transfer fee of just 0.1 BLURT.

We have an issue now with Probit since they enforced KYC on all users. Volume has fallen dramatically and been exported to Ionomy and Hive-Engine. The issue is that BLURT really needs one more market that is picked up by the price aggregators such as CoinGecko and CMC. This is being looked at but has to be done in a manner that is strategic and cost-effective.

I hope these numbers will give members some insights into how the Blurt economic system is managed and, more importantly, how each individual user can both benefit from and affect the whole chain.

Blurt Better!

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Buy BLURT on Probit, Ionomy, Hive-Engine and STEX.

Buy BYT on Hive-Engine

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Please vote for my witness account @busbecq.
Can be done directly here.
A witness is more than a machine.
Thanks!

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