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RE: Steem Dollar Stability Enhancements

in #steem7 years ago

We designed the Steem incentives to always push Steem toward a Steem Dollar supply equal to about 5% of the available market cap.

What is 'available marketcap'. The VESTS are illiquid, and not part of available market-cap. If we take them out, then we only have 8.4M SBD worth of liquid STEEM. This means, SBD to liquid STEEM ratio is 25%.

Calculated as:

2.1 / ((134.8-129.5)*1.59)
= 0.24919900

Using current values from


All SP counts as well. Just because it is "locked up" doesn't mean it has no value.

I just find it weird to throw both STEEM and VESTS into the same market cap.

Technically they are not the same thing. They don't have the same value - VESTS need to be adjusted to account for inflation and opportunity cost that comes with the lock-in.

Although now that I think of it, my point on counting only the liquid STEEM is baseless. SBD is created in 1:19 ratio, all of the STEEM being issues as VESTS.

Coin Marketplace

STEEM 0.18
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SBD 2.24