My weekly look at Blurt's economic indicators.
All rises and falls are relative to last week.
Blurt Economic Indicators
BLURT Supply = 432.0 million
Vested BLURT = 51.5% (+0.2)
Reward Pool = 2.02 million BLURT (flat)
Recent Claims = 72.3 TRshares (rising)
Vote Yield estimate (100k BP) = 52.7% APR (falling)
Author/Curation Yield estimate = 26.3% APR (half of the Vote Yield)
You can also see the raw numbers on a blockchain explorer.
The reward pool has dropped slightly, from 2.023 to 2.019 BLURT, so just looks flat to 3 significant figures. The vested BLURT and recent claims are rising slightly, so the whole economy looks very similar to last week.
A reminder that as activity increases then so will the recent claims and thence rewards paid out. As an obvious consequence the reward pool shrinks and the vote yield drops. This is how reward pool economics works. The reward pool acts like a treasury that releases coins based on voting activity and on powered-up BLURT.
In the extreme case where, say, 90% of BLURT was vested and voting, the yield would drop to the blockchain's coin-minting rate - what most people refer to as inflation. At the other extreme, where nobody can vote - say, due to some bug - then the reward pool starts to fill up and the yield increases again when the economy restarts. All standard Graphene-chain tokenomics.
However, take note, just like last week, the vesting rate of 51.5% is a small increase from the previous week. This slightly increases the vote yield compared to the original Steem design. Hence, in the last 2 or 3 weeks we have seen the claims rising nicely, showing an increase in activity, yet the yield has been falling more slowly than one would expect. This is all as designed.
As I've said before, such yields at the moment are higher than many defi swap pools - and without the danger of "impermanent losses". With BLURT coin prices being so low, this is also a good time to increase one's Blurt Power and accumulate for a future rise.
A comparison with the other Graphene chains done using the DLease delegation rates.
Steem DLease rates: max 34.5% APR (average 26.9%)(rising)
Hive DLease rates: max 13.1% APR (average 8.1%)(falling)
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; we shall see how long it takes for users to react. Although the volatility in market prices has been reflected in its yields, we can now see that the Dlease yield is attenuating to approximately the blockchain yield.
As we don't seem to have a functioning price feed on the explorers, these price snapshots may also help users decide where to trade BLURT.
Ionomy/Probit: 7/9 sats/BLURT (approx $0.0039)
Hive-Engine: 0.007/009 HIVE/BLURT (approx $0.0045)
The HIVE market appears to be the most active and the most volatile, so these are numbers for the current price range and best conversion to USD.
This week has seen a rise in the BLURT price of about 15% in USD terms. The spot prices have held steady, so this is largely due to the increase in the Bitcoin price.
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.