pixabay image
Vote for this post to help fix the Steem Dollar Peg!
Incase you missed it; here is THE LINK to the intro post about @sbdpotato.
TlDr, you vote for @sbdpotato's daily posts and the rewards @sbdpotato earns will be used to purchase SBD on the internal market, convert it to STEEM (reducing the SBD supply) and then the converted STEEM will be used in a circular fashion to purchase more SBD - Rinse Repeat! That's basically it!
Today's SBD Price (Spot): 0.584USD
Current Debt Ratio: 14.983%
Target Debt Ratio: 9.90%
What do you get out of supporting @sbdpotato?
Well firstly by voting this post you will be helping fix SBD to get it pegged to 1 USD again as it was meant to, this could also help bring the STEEM price up with it. There is a theory that the two are circular, a strong SBD gives support to healthier STEEM prices, perhaps due to positive sentiment in the network.
In addition to doing your part to improve the economy of the Steem network, you will also earn SP curation rewards from voting the post that hopefully get decent traction.
You can set the @sbdpotato account on autovote using a service like beta.steemvoter, by creating a stream to autovote the @sbdpotato account at around 4 or 5 minutes as per the screenshot below. There are also other autovoter services you can use if you prefer.
Conclusion and Disclaimer
As custodian of this project I, @thecryptodrive, will not derive any monetary value therefrom and undertake this under my duty as Steem consensus witness and ambassador.
I hope the Steem community will embrace this idea of supporting the SBD peg by voting the @sbdpotato posts regularly, alone we are powerless, together we can bring about change.
Sponsors
If you would like to have your banner featured on the daily posts, simply upload your banner in our comments sectiona and pledge to vote for @sbdpotato daily and/or include @sbdpotato as beneficiary of your own posts!
Day 7 means the first payouts should be starting very soon!
Can this do what it is intended to do with the DAO/SPS receiving large amounts of SBD per day? The total SBD supply is still growing even if they are burning chunks of it via this initiative...
It is a consideration but so far the amount in the DAO is quite small. There is only 160K SBD in there out of a total of 7.3 million.
Longer term IMO a tweak should be made to exclude the balance in the DAO toward the SBD supply since it isn't circulating and can only be paid out at a modest rate (1% per day), and may not even be paid out at all (unless proposals are approved).
Warning! Do not Upvote this. It is Deceptive and makes Steem look bad.
This post earned a total payout of 18.837$ and 14.163$ worth of author reward which was liquified using @likwid. To learn more.
Congratulations @sbdpotato! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPVote for @Steemitboard as a witness to get one more award and increased upvotes!