Blurt Economic Indicators - 13 March 2022

My weekly look at Blurt's economic indicators.

All rises and falls are relative to last week.

Blurt Economic Indicators

BLURT Supply = 453.2 million
Vested BLURT (BP) = 54.3% (-0.1)

Reward Pool = 1.965 million BLURT (falling)
Recent Claims = 136.1 TRshares (falling)

Vote Yield estimate (100k BP) = 28.7% APR (falling)

Author/Curation Yield estimate = 14.3% APR (half of the Vote Yield)

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

Insights

Very small changes this week, as we see a mixture of power-ups and power-downs; I'd expect this for the next month or so.

The economic changes made to the reward pool some months ago were designed to make such transitions as sooth as possible. For example, as more users power-up the BP percentage increases, thereby increasing the yield, but at the same time, more voting will lower the gross yield. The opposite will happen with power-downs, and in both cases the changes in the metrics will be slow enough for other users to react.

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 28% APR (average 22%)
Hive DLease rates: max 12% APR (average 8%)

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

With the three graphene chains diverging in terms of their economic models, I do wonder how useful such comparisons are, except perhaps to gauge how those different models behave at the macroeconomic level.

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; however, note it has been oscillating wildly as SBD price oscillates.

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: $0.0260 (-10%/week)

BBLURT price: $0.0210 (-18%/week)

Looks like an arbitrage is set up by buying BBLURT and then selling BLURT. That is the nature of swap pools.

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.

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.

Buy BYT on Hive-Engine

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