SBD Potato Day 17: Getting Under the Skin!

in sbdpotato •  3 days ago 


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Conversion Report

Next conversion scheduled for Wednesday.

Vote for this post to help fix the Steem Dollar Peg!

In case you missed it; here is THE LINK to the intro post about @sbdpotato.

TLDR, you vote for @sbdpotato's daily posts and the rewards @sbdpotato earns will be used to purchase SBD on the internal market, convert it to STEEM (reducing the SBD supply) and then the converted STEEM will be used in a circular fashion to purchase more SBD - Rinse Repeat! That's basically it!

Today's SBD Price (Spot): 0.696USD

Current Debt Ratio: 12.23%

Target Debt Ratio: 9.90%

What do you get out of supporting @sbdpotato?

Well firstly by voting this post you will be helping fix SBD to get it pegged to 1 USD again as it was meant to, this could also help bring the STEEM price up with it. There is a theory that the two are circular, a strong SBD gives support to healthier STEEM prices, perhaps due to positive sentiment in the network.

In addition to doing your part to improve the economy of the Steem network, you will also earn SP curation rewards from voting the post that hopefully get decent traction.

You can set the @sbdpotato account on autovote using a service like beta.steemvoter, by creating a stream to autovote the @sbdpotato account at around 4 or 5 minutes as per the screenshot below. There are also other autovoter services you can use if you prefer.



Conclusion and Disclaimer

All images used a royalty-free, courtesy of pixabay.com.

As custodian of this project I, @thecryptodrive, will not derive any monetary value therefrom and undertake this under my duty as Steem consensus witness and ambassador.

I hope the Steem community will embrace this idea of supporting the SBD peg by voting the @sbdpotato posts regularly, alone we are powerless, together we can bring about change.

Sponsors

If you would like to have your banner featured on the daily posts, simply upload your banner in our comments sectiona and pledge to vote for @sbdpotato daily and/or include @sbdpotato as a beneficiary of your own posts!





VOTE @SBDPOTATO TO BRING BACK BALANCE TO THE FORCE!

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I've written about this before and I'll write about it again, the SBD should actually peg to the rate that it is intending to peg to. Stablecoins are only as stable as they are made to be, anything else and it detracts from it's entire underlying value. Upvoting your post!

!likwid

!likwid

This post has no sub-beneficiaries

  ·  2 days ago (edited)

Why does your "Current Debt Ratio" keep changing so much? One day it is 16% another 12%. You have two day 17 posts. lol smh

I'm not sure, I'm using the api provided by consensus witness @cervantes. I will enquire why that is and revert.

Probably due to the STEEM price changing, or a bug in the API he's using, or both.