Yea here is the quote from the whitepaper :
"In order to compensate for the ever increasing precision, the STEEM network performs a 10:1 “reverse split” every 32,000,000 blocks (about 3 years). At this point in time all balances of STEEM are divided by 10 and all prices are multiplied by 10. Cryptocurrency exchanges will have to suspend trading around this time and update the account balances and price history to reflect the “reverse split” before resuming trading.

All rounding errors will be in favor of the network. Every balance may lose up to 0.009 STEEM due to rounding, but this amount of STEEM should be economically insignificant.
Collectively all holders of SP will lose at most 0.009 STEEM."

I do recommend reading the white paper, it's a pretty easy read.