ROR Universe New Project STEEM RISE Introduction-STEEM Burn and SBD debt ratio reduction
Hello, this is ROR Universe.
Our ROR team has prepared this STEEM RISE project to contribute to the rise of Steem value as a new witness to the Steem blockchain.
Steem Rise projects leverage continuous Steem incineration and SBD Convert capabilities to help stabilize Steem and SBD values.
All rewards of @steem.rise account will be burned 100%, and we plan to convert SBD to STEEM for 3.5 days using the ‘Convert to STEEM’ function before burn to contribute to SBD value stability.
When the debt ratio of SBD is greater than 10% the blockchain imposes a 10% "haircut" so doing conversions can make a loss.
The current debt-to-equity ratio is approximately 10.5%, and you can see that we need to use the Convert function to reduce SBD distribution.
So our ROR team is trying to reduce SBD debt-to-equity ratio to below 10% through the STEEM RISE project.
All Steem rewards in the @steem.rise account will be used to purchase SBD on the internal market and converted into Steem.
If the SBD debt ratio remains safe at around 9%, STEEM conversion operation using the Convert to STEEM function will be stopped and all rewards will be sent to the @null account for the burn.
[STEEM RISE's Long-term Vision]
The ROR team plans to develop the STEEM RISE project in the long term by linking it with crypto exchange financial instruments.
We are already discussing making financial instruments. through consultation with the crypto exchange market and they are being reviewed positively.
The rewards from the financial instruments are expected to be linked to several projects to make the STEEM RISE project more stable.
The ROR team will continue to make efforts to promote and expand STEEM to the outside world.
For support of our project please follow @steem.rise and add it to the AutoVote list.
All rewards from @steem.rise are 100% burn and used to increase STEEM value.
The STEEM RISE project is run by the ROR team and @morning
Please look forward to it.