Automation of SBD Potato conversions
A while ago, @thecryptodrive launched the SBD potato to try and help fix the SBD peg to $1 with a simple and efficient concept. The account receives STEEM and SP through votes and beneficiaries, sell this STEEM for SBD on the internal market and then convert this SBD to STEEM.
During the conversion, the SBD is actually burned, and thus reduce the supply. Conversion takes 3 days, after which the process can start again with the newly generated STEEM, creating a snowball effect.
So far, @thecryptodrive was taking care of it manually, which was neither convenient for him nor very efficient.
I've written some quick opensource code to automate the whole process. A cronjob runs the code every 10 minutes to make sure STEEM is not sitting unused on the account.
What it does so far
- Check STEEM balance
- Sell all STEEM for SBD on the internal market
- Start SBD conversion
Some small other features I want to implement when I ll have time. It shouldn't take long but well, Christmas is coming!
- Automatically claim rewards
- Power down
To support the initiative and help peg SBD back to $1, don't hesitate sharing beneficiary rewards to @sbdpotato!
Founder of SteemPlus
Lead developer of Steem Keychain
If you think my contributions add value to the blockchain, please consider voting for me as a witness here.
I would recommend to anyone to vote for @stoodkev as witness, he is the developer behind the Steem Keychain project and SteemPlus. Stoodkev is very passionate about STEEM and helping it grow, as can be seen by his willingness to donate his time to contribute to the @sbdpotato project. Thanks @stoodkev!
He's got my witness vote. This is a much better use of time and will expedite the process!
Will do :)
I could not agree more