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RE: Median price feed stuck? Payouts displayed wrongly? (Solved).
Yes, once the amount of SBD is above 10% of the entire market cap, SBD goes into a partial default mode where it will only pay out as if the SBD price was where it's exactly 10% of market cap.
So SBD is a contract where it's backed by $1 worth of Steem up until that point, when it's only partially backed.