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RE: SBD Is Worth Over $12 on Bittrex Right Now! How to Sell your SBD
I still don't understand why they broke the SBD design when they cloned it from BitShares. They kept the price floor and got rid of the ceiling.
The main reason is to be able to issue SBD as rewards.
The supply will balance. More will choose to be rewarded in 50% sbd. The sp is locked for 13 weeks, so sbd supply will rise.
Well, they didn't really break the design, it's more like a different design. With BitShares, bitUSD is only created when people lock up BitShares to create it on margin. SBD is a different mechanism. It still has the convert function which is similar to the settlement option in BitShares, but in many ways it's different. It's also debt, like bitUSD, but it's a debt against the network, not with those individuals who created it via margin.
I'd love to have a true pegged asset around here. Maybe with the introduction of Smart Media Tokens, we can have something like that in the future.