Hi @hotbit and @lukestokes, sorry for taking long to reply here. I wasn't aware of this post until today. I will address all points here.

I am honoured that you find BUILDTEAM to be one of the more interesting tokens on Bitshares and that you are trying your hand at market making.

5% additional supply each month puts strong sell pressure on the market

Tokens are only paid to developers and as bounties so the entire max monthly emission is not always utilised, in July ~80% of payout was staked which reduced additional circulating supply to 1% instead of 5%; for example in July only 3970/5000 tokens were distributed of which 3167/3970 were staked.

I couldn't find any monthly reports on project revenue distributed to stakers and how it changes over time

Thanks for bringing this up, there are some posts about token revenue:

• here is one performance review

• this one also has an ROI review

I have taken your feedback under consideration and will see if we can do more of these in future now that we know there is genuine interest in such reports.

the new steem-engine market has caused further fragmentation to buildteam market

While this is true from a liquidity standpoint, it also creates an easier on/offramp to BUILDTEAM from STEEMP and on a much more user-friendly interface of Steem-Engine, it also makes for interesting arbitrage opportunities between the exchanges. Steem-Engine helps with accessibility but the only thing that is missing is an index that caters for both, for example Coingecko only tracks the Bitshares market. Steem-Engine really needs to list their exchange on Coingecko so their tokens can be indexed, I have brought this up to them before and will push them again.

there was no buy-out of any tokens in the middle of July, at least not on bitshares

Correct, we have suspended buybacks for the moment until the STEEM markets improve, we instead directed funds earmarked for the buyback towards the STEEM distribution, to help bolster that a bit. BUILDTEAM tracks the STEEM price because payouts are in STEEM, so the more STEEM is worth and the more active Steemians are in using our services, the more valuable payouts will be.

With STEEM at 23 cents US at the time of writing, you can appreciate that paying for infrastructure in USD while receiving income in STEEM is very taxing, BUILDTEAM payouts have been in decline ever since STEEM started to decline as a result. We have taken steps to reduce our costs and are busy setting up 64GB Hivemind private nodes to replace the current two 256GB private full nodes, this should save us around $400 pm and we did an audit of inactive Gsuite and Github accounts that we pay per seat on, so should see some savings next month.

Basically to answer your question as to whether you should keep holding BUILDTEAM, it boils down to how much faith you have in STEEM and whether it will recover after HF21 and SMT's. We have several great services that are in a good position to earn revenue when the Steem community becomes more active. Perhaps when curation becomes more lucrative due to the 50/50 split after HF21 there will be massive demand for Steem Power leasing on dlease.io. TokenBB also has good prospects if Steem communities become active and want niche forums.

The short and tall of it is that if you are bullish on STEEM then the same would apply for BUILDTEAM, as STEEM largely determines our success.