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RE: SBD Potato 2020/01/17 #2

in #sbdpotato4 years ago

@captainklaus @drutter @xpilar I will reply to you all in one message, so @sbdpotato has two sources of funding, the post rewards and the sps proposal, it only just recently went into funded status. The debt ratio in the posts is based off the api provided by witness @cervantes and is the most accurate, all debt ratio calculations will be lagging 3.5 days in arrears due to the conversion period. we are still far off getting rid of enough SBD, according to @smooth we need to get rid of another 900K SBD to restore the peg as of today's price drop.

@sbdpotato can convert this much likely in 6 months with SPS proposal funding alone, additional post rewards funding helps shorten that period. I know it is a balancing act and authors want as much as they can get for themselves out of the rewards pool but at the end of the day when the price of SBD rises, STEEM will generally follow and everyone, authors and whales alike will benefit.

We just need to put up with some temporary discomfort on the trending page, I don't think it looks bad to the outsiders because it shows outside investors we are actively trying to fix our economics and the community is behind it.

Regarding buying SBD on exchanges, that is not as easily coded and having everything happen internally is more transparent and visible. I certainly won't have any community funds flow through my personal exchange accounts, I run this project pro-bono for the good of the community, I'm one of the only ones looking to fix our economics and mostly just get complaints. A few posts on trending to fix SBD in a few months is a fair price to pay.

I hope this satisfies the queries.