No more liquid STEEM rewards. SBD print rate is in full effect...finally!
In continuation of a post I made a few days ago, explaining why at that time, we had three different types or rewards when a post payed out (liquid STEEM / SBD / Steem Power), I wanted to add a little more on that, given the chance that a user asked me earlier today how is it possible to have a 1 : 1 SBD print rate at just $0.23 worth of STEEM.
In order for this to happen people need to understand that the SBD ratio should remain < 9% at any given time. So how do we know what the SBD ratio is right now?
A simple way to track it is by visiting steemworld.org/@yourname , hit the Market Info option on the left hand side and just let this tool do the work for ya.
Now in case you want to calculate it yourself there is a very simple way, just follow this rule:
SBD Ratio = (SBD MarketCap / STEEM Marketcap) *100
While writing these lines, SBD Ratio = (7.25 mill / 83.12 mill) *100 = 8.722%
In other words STEEM's Marketcap should always be ~ 11.5x > SBD's Marketcap at any given time.
If you still don't get it just crawl back to school or something
Now most of you might have noticed that their vote value has also increased. I for instance can now deliver a $0.46 vote at 100% VP according to @steempeak while a couple of days ago my upvote's value was $0.41. OK I know...this might seem as an insignificant change but is it really? Almost 12% increased voting strength isn't exactly insignificant...
And if STEEM keeps cruising at the $0.23 range and above, you can expect your upvote value to get even stronger within the next 40 hours.
This happens because of the way Steem blockchain calculates the median price.
Median price -> Steem's average price for the last 3.5 days as shown in the screenshot below. It is currently $0.226.
Screenshot from steemnow.com - a tool built by @penguinpablo.
SBD being printed again means a healthier Steem economy. The previous state, the one we had been in for so long was a safety net so that things won't get out of control...Isn't Steem blockchain awesome?
At the same time the rewards one receives from curation is in the form of SP. Same goes for the 50% of the author rewards one receives when their post pays out. The remaining 50% is being payed in SBD.
We keep powering up without even realizing it.
Which is awesome if you ask me.
Have a good one peeps.