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RE: The first phase of the Steem FAQ and Wikee: Consolidation of Knowledge
steem is a token you can buy or sell.
steem power is steem locked up in a time-vault that is generating more steem locked in steempower until you power down and convert your steempower to steem over a two year period.
Steem Dollars is a token you can buy or sell and it is pegged to about $1 worth of steem.