Blurt Economic Indicators - 6 February 2022

My weekly look at Blurt's economic indicators.

All rises and falls are relative to last week.

Blurt Economic Indicators

BLURT Supply = 449.4 million
Vested BLURT = 53.7% (+0.0)

Reward Pool = 1.977 million BLURT (falling)
Recent Claims = 129.6 TRshares (rising)

Vote Yield estimate (100k BP) = 30.0% APR (falling)

Author/Curation Yield estimate = 15.0% APR (half of the Vote Yield)

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

Insights

I can repeat last week's comments!

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.

This has now manifested for a couple of weeks. One thing to note is that an increase in voting activity does not necessarily require an increase in Blurt Power - it just means more people are using theirs to vote. Indeed, one metric I haven't looked at is an estimate of the percentage of BP being used to vote. This is fraught with many assumptions, but a quick calculation gives a figure of about 36%, or 86M BP. This means that, on average across the 15-day period of claims, 36% of BP has generated those claims.

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 28.5% APR (average 22.9%)
Hive DLease rates: max 10.6% APR (average 7.7%)

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 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: $0.0293 (+17%/week)

BBLURT price: $0.0306 (+21%/week)

This week saw BTC rally from $36k to a whisker under $42k; that $42k has been an important level and I don't think it will hang around there for very long. Expect more volatility, in either direction. However, this week's move has helped altcoins such as BLURT move up in tandem.

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.

An important update regarding Probit: they have relaxed their KYC conditions, so please have another look to see if your account is active again. Volume has actually risen again, so is again a good choice along with 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!

---

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

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!

---