This is a great piece of information. I have been in Steemit for 3 months and got to know about this right now.

The process takes 3.5 days, and after the 3.5 days are up - it destroys the SBD tokens and replaces with them with "approximately one USD worth of STEEM per SBD" (based on the median price from the witnesses).

Thanks for the PR, I hope people will read carefully.