Two noticeable events recently...

Maybe you remarked, maybe you didn't...

But in the whole bull warming up period after the long winter, two things happened connected to Steem. Apart from STEEM gaining 63%+ in 30 days.

Bulls also brought SBD close to its 1$ peg for the first time in months.

Well, I'm not sure why we are stubborn in calling SBD 1$ pegged. Because SBD was never pegged, in either direction.

The market will continue to do with it as it pleases.

But this is not a rant. Just remarking... In fact, since we are going to the moon (we'll see how close to it we'll get this time around! :) SBD will likely be joining the ride... If history will repeat itself.

It's true now there's more SBD inflation, compared to the time when it went to over 14$, because SPS funding comes as SBD only. So things may be slightly different. Or not. You never mess with the bulls. Or with the bears.

The other noticeable event is this:

Yup, SBD debt ratio dropped below 10%, again for the first time in months.

What does that mean?

It means that we will start to see SBD in our author rewards again.

While SBD debt ratio is between 9.0%-9.999%, the author rewards will be a combination of 50% SP, and 50% (STEEM + SBD). The liquid part of the reward will always be equal to 50% worth of SBD, calculated at 1$ value minimum.

The lower the SBD debt ratio goes toward 9%, the more SBD is printed as part of the author reward and less STEEM.

Once the SBD debt ratio drops below 9%, only SBD will be printed as liquid reward, and no STEEM. And the cycle will repeat in reverse on the way up.