Blurt Economic Indicators - 30 January 2022

My weekly look at Blurt's economic indicators.

All rises and falls are relative to last week.

Blurt Economic Indicators

BLURT Supply = 448.6 million
Vested BLURT = 53.7% (+0.1)

Reward Pool = 1.989 million BLURT (falling)
Recent Claims = 125.6 TRshares (rising)

Vote Yield estimate (100k BP) = 31.1% APR (rising)

Author/Curation Yield estimate = 15.6% APR (half of the Vote Yield)

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

Insights

Good to see the Blurt blockchain metrics moving in line with economic activity. The recent claims has moved up quite sharply, thereby lowering the reward pool; in contrast to recent weeks, the increased activity has grown more rapidly than the coin minting rate, thereby also bringing down the gross vote yield.

That's it! Those of you new to these weekly posts may wish to go back and read past ones as they often have some explanations of small parts of the cryptonomic machinery. It seems easier to add such insights when the numbers show some particular pattern rather than writing a long essay.

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 25.2% APR (average 20.1%)
Hive DLease rates: max 11.1% APR (average 8.8%)

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 falling steeply as SBD has dropped and the system is now close to a debt-ratio maximum.

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: $0.0250 (+15%/week)

BBLURT price: $0.0253 (+23%/week)

BTC has continued to drag down the smaller alt coins but has recently tried to rally off its $33k level. This has helped BLURT receive a boost; the coin has also shown some resilience at these prices as it quickly bounced back from a one-off dump on Probit.

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.

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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