MAP FinTech - M Token Report - 8 March 2022
We have finally reached a milestone moment in the winding down process with the backlog of buybacks cleared!
Please read below.
As mentioned in the previous post, from now on I shall post after doing the bulk of the buybacks, usually on a Tuesday. This also saves me from forgetting to post!
Let me also take this opportunity to make the posts briefer. Anybody interested in the long-form can be directed back to here.
M News
The last token distribution was on 1 November 2021. It is now time for members to sell their tokens and undelegate. Thanks for your support and trust, and I hope everyone has made a decent profit.
Power-downs and buybacks now usually take place on a Tuesday. Some extra buybacks may take place due to third-party token sales.
As I said at the top, we have finally cleared all the open sell orders on market and hence have almost completed the buyback program. Less than 800 M tokens remain with members.
No further new delegations shall be accepted - this includes increasing current delegations.
Thanks to all delegators for your support. If there are monies at the end of the winding down process, they shall go to MAPR, which is where the value originated.
The buyback price has now started to drop every week. At some point I will have to set a final hard deadline.
This is a tricky part. I am not prepared to wait for ever. Maybe April Fool's Day would be an appropriate time to finally stop buybacks!
I have sent comments to all delegators that still appear to be posting. I really can't do any more.
The Numbers
Distribution to delegators = closed
Buyback price = 0.950 HIVE (-0.010) (scheduled weekly buyback price drop)
M tokens in circulation = 790 (-130)
New delegations now closed.
You can check older metrics at this last distro post.
The story of M:
Have a fine week!
Any questions, please ask in the comments below or in our public chatroom.
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For the first time I saw this post, what it the utility of M token ?
Did you actually read this post?
I did, it just talks about the tokenomics , what I am looking for is the utility of M token and how it evolved.
OK, but the program is now closed.
My sell order is still showing as open. Did I do something wrong with it? 😬
You're on the wrong post - this is M - that is MPATH.
Anyway, just wait - there is no magic, just weekly power downs for the last 4 months.
Oh, yes, sorry about that. My brain is fried. 😜