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RE: I submitted my first hardfork pull request to the Steem blockchain! (Updates to the SBD print rate.)

in #steem • 7 years ago

If we pass the 10% haircut limit, let's say even to 20% - that is a risk for SBD holders. In this (hypothetical) scenario - SBD could drop down to $0.5 USD.

In that case (1 SBD = 0.5 USD), should SBD holders not be able to convert to one USD equivalent of STEEM?

7 years ago in #steem by
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         7 years ago 

        No. If we pass 10% debt level, then SBD conversions would pay out less than a dollar worth of STEEM. At a 20% debt level, it would pay out 50 cents on the dollar.

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