My weekly look at Blurt's economic indicators.
All rises and falls are relative to last week.
Blurt Economic Indicators
BLURT Supply = 454.0 million
Vested BLURT (BP) = 54.0% (-0.3)
BP Voting Capacity = 36.7% (0.0)
Reward Pool = 1.989 million BLURT (rising)
Recent Claims = 134.8 TRshares (falling)
Vote Yield estimate (100k BP) = 29.1% APR (rising)
Author/Curation Yield estimate = 14.5% APR (half of the Vote Yield)
You can also see the raw numbers on a blockchain explorer.
Insights
We are now starting to see the effects of a few large accounts powering down. The total BP has dropped a bit, as have the claims. Notice that this has elevated the gross vote yield, so that active Blurters should see a small increase in their vote values.
I expect this to continue for a few short weeks. Note also that the percentage of vested BLURT remains very high compared with other DPOS chains, that tend to be around the 30% mark.
I have now added the BP Voting Capacity calculation, which is an estimate of how much of the powered-up BLURT is actually voting. This metric is already seen in the recent claims, but I think the trend will be clearer as a percentage. I do not expect these numbers to be very high; on Steem, as more coins were minted and then sold, some of the largest accounts were the exchangers, who do not power-up and hence do not vote, thus both vested coins and voting capacity drifted lower over time.
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 21%)
Hive DLease rates: max 12% APR (average 10%)
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: $0.0180 (-30%/week)
BBLURT price: $0.0177 (-16%/week)
We are seeing two effects here, with the powering down and selling by a few accounts compounded by the general downward pressure on the whole crypto market. Might be worth remembering that BLURT remains about 5 times the value it had during much of 2021. Also, the price on Hive-Engine remains about 10% higher than other markets - this has generally been the case, although I'm unsure exactly why that should be, apart from the ease of swapping HIVE for BLURT.
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!
Buy BLURT on Probit, Ionomy, Hive-Engine.
Buy BYT on Hive-Engine
Please vote for my witness account @busbecq.
Can be done directly here.
A witness is more than a machine - and so are you.
Thanks!
tried to vote but it doesn't seem to load. scrap that have voted.
I've come to expect the front end doesn't work or goes down every Sunday now. I would have thought it was maintenance but they say everyone who would do that is in bed.
So the possibilities left I can see is
Something in the script for the front end has hiccups every Sunday.
They are using some kind of hosting plan where it is either shared and gets a huge pull every Sunday, or the host or administrators of the front end are performing some kind of back-up maintenance on Sunday that causes the hiccups.
Hard to say for sure, especially for tech ignorant folks such as myself. The only thing I'm sure of after months of this is one can almost set their calendar and watch knowing it's Sunday morning where I'm at when the issues begin.
I've begun reluctantly using this front end when it happens to me.
https://blurtlatam.com/
Other than the one major outage we had some time back on Sunday it seems to work properly when the Foundation front end has these issues.
I've noticed I keep somehow unfollowing people I am POSITIVE I have followed
This happens to me too at times. It's easier for me to see I think because I keep mine small and after they are done I then begin looking for others I remember are also important. For those with really large follow lists I can't imagine how one would notice right away.
I've taken for weeks now to physically going to others blogs and comment sections to see if I've missed anything due to this.
I've noticed it with a few people now I regularly check on so I know I followed them.
I think people are also holding back from powering up, I know I am as it's pointless to do while these people are powering down as we are just giving them more value for their blurt, so I think people who have been waiting will power down once it's all over too.
I wanted to interject that now is actually the optimal time for a power-up.
We have a unique math system here that deviates in many ways from our parent and sister chain.
The reward pool swells and contracts based upon what is powered up. This was done partially to my understanding to do away with that ludicrous saying of reward pool rape.
So as these large accounts power down it obviously contracts the pool somewhat. If we power up as this occurs, it slows down that contraction, increasing the swelling of the pool and as such our claim on it as well because we have more stake claim.
I also think for those of us who are enamored with the gifting portion of this system (rewarding others with our votes) it also signifies our commitment to those we would see eased just a bit in their struggles. :)
I think I finally have a metaphor for how the maths works.
Imagine pigs at a trough; the normal behaviour of the reward pool is that it raises and lowers the amount of swill depending on the collective behaviour. Hence we get the idea that the pigs are fighting for a prime place at the trough. Fewer other pigs equals more for me!
What my economic tweak does is that it also changes the size of the trough, so there is more or less space to feed. It is still a sharing economy, but less brutal than before.
So, think of the reward pool as a volume of fluid, rather than just a number, and that volume now depends both on the height of the fluid and the surface area of the receptacle.
The height of the fluid depends on voting activity whereas the surface area depends on Blurt Power.
How very... visual! lmao
maths isn't my greatest strong point, I don't quite understand how that works.
Very useful information. Thank you. Just voted for your witness.
Thank you very much sir.its very useful information you shared.its time to buy blurt coin,because blurt power is down.when it will be increase its big profit for all the blurt user.Good to see your post sir. I also gave you vote of witness.its my pleasure.
Congratulations, your post has been curated by @dsc-r2cornell. You can use the tag #R2cornell. Also, find us on Discord
Felicitaciones, su publicación ha sido votada por @ dsc-r2cornell. Puedes usar el tag #R2cornell. También, nos puedes encontrar en Discord
Also, keep in touch with Blurtconnect-ng family on Telegram and Whatsapp
Congratulations, your post has been curated by @techclub
Manually curated by @samhenrytenplus
Are you a mathematician by any chance?!😄