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RE: The SBD:STEEM debt and payouts
Now, I am not sure when the system decides to print SBD again after such an event. Anyone?
If have read the code:
- If
percent_sbdis below 2% then thesbd_print_rateis 100%. - If
percent_sbdis above 5% then it stops printing sbd. - If
percent_sbdis between 2% and 5% thensbd_print_rate = 100% * (5 - percent_sbd)/3.
We are not in 4% but 2.15%. This is the calculation:
- Steem supply: 265700335.221 STEEM
- 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
- The virtual Steem (Total) is the Steem supply + SBD supply. Total = 5853447.283 + 265700335.221 = 271553782.5 STEEM
- Then the
percent_sbdis SBD supply / Total = 5853447.283 / 271553782.5 = 2.15% - This percent is between 2 and 5, then the printing rate is (5 - 2.15)/3 = 95%
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!
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.
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.