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RE: The SBD:STEEM debt and payouts

in #steem3 years ago

Now, I am not sure when the system decides to print SBD again after such an event. Anyone?

• If `percent_sbd` is below 2% then the `sbd_print_rate` is 100%.
• If `percent_sbd` is above 5% then it stops printing sbd.
• If `percent_sbd` is between 2% and 5% then `sbd_print_rate = 100% * (5 - percent_sbd)/3`.

We are not in 4% but 2.15%. This is the calculation:

1. Steem supply: 265700335.221 STEEM
2. SBD supply: 10858144.712. How much STEEM is it? The median price is 1.855 SBD/STEEM. Then 10858144.712/1.855 = 5853447.283 STEEM
3. The virtual Steem (Total) is the Steem supply + SBD supply. Total = 5853447.283 + 265700335.221 = 271553782.5 STEEM
4. Then the `percent_sbd` is SBD supply / Total = 5853447.283 / 271553782.5 = 2.15%
5. This percent is between 2 and 5, then the printing rate is (5 - 2.15)/3 = 95%
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Yup.

And I have wrote an appl than follow those metrics over time.
https://steem-supply.john-at-me.net/

Wow, very interesting. Thanks for pointing it.

Great!

3 years ago (edited)

Thx for the summary, the source code itself is the best documentation ;) Did not know that SBD printing is gradually capped between 2% and 5%, very interesting.

3 years ago (edited)

Perfect! Brilliant! Thanks a lot!

Unfortunately these formulas are not awailable in the whitepaper.

It's very interesting for me to see how this mechanism works.