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RE: Are Steem Dollars (SBD) being phased out? Payouts are now happening in Steem instead.
They've just stopped printing new SBD until the price of STEEM starts to go back up. After the bubble, there was too much debt in the system to keep printing them. You can still buy/sell them on the exchange. They are still a very important part of the system. Anyways, that's just the cliff notes... there's lots of info floating around about it.