Blurt Economic Indicators - 21 November 2021

My weekly look at Blurt's economic indicators.

All rises and falls are relative to last week.

Blurt Economic Indicators

BLURT Supply = 440.9 million
Vested BLURT = 52.6% (-0.2)

Reward Pool = 1.903 million BLURT (rising)
Recent Claims = 104.5 TRshares (rising)

Vote Yield estimate (100k BP) = 35.1% APR (falling)

Author/Curation Yield estimate = 17.6% APR (half of the Vote Yield)

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

Insights

This week shows voting activity continues to rise, as illustrated by the recent claims, and yet the reward pool has also risen slightly. At the same time, the vested percentage has dropped a small amount.

The overall effect is that the vote yield continues to fall, from 36% last week to 35% now. For those who seem troubled by this, let us not forget that the BLURT price has risen some 1,000% in the last month in USD terms.

Interestingly, the small rise in the reward pool, of about 0.3%, is of the same order as the decrease in vested BLURT. It is a lagging indicator, so we should not expect it to behave in any fixed proportion, but it does show that the economic changes made a few months ago are having the desired effect. It means that within the next 7 days, those active voters will get a small increase in their vote values. As one's own personal voting power keeps changing, this may not always be apparent, but in the macro numbers we can see even such small effects.

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 31.6% APR (average 24.2%)
Hive DLease rates: max 11.0% APR (average 7.3%)

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 are falling towards the chain yield. The Dlease rate seems to be yanked up and down by just one account, so oscillates between 10% and 13%. 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: $0.0312 (-9%/week)

BBLURT price: $0.0328 (+1%/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.

This week, the BLURT price has been treading water in USD terms, albeit up slightly in BTC prices. BTC's drop to test its 50SMA has sent jitters across the markets.

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.

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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Can be done directly here.
A witness is more than a machine.
Thanks!

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