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RE: Liquid Steem Rewards are Here - Math Time!
"If Steem's value keeps falling, expect to make less SBD - both because your posts will be worth less STUs, and because less SBD will get printed, to cover your actually owed STUs....
"What can we do? Hope Steem's price goes up, and thus its market-cap goes up."
Thank you for making this so crystal clear! This is the 3rd article I've read on this today and now I largely understand.
The only missing piece for me still is why I'm suddenly getting some STEEM in the mix along with my SP and SBD, and why that is reducing the amount of those from what the "preview" on my posts says I will get.
I tried to explain that above, but I'll do succinctly here :)
SBD is insured against Steem. So if there's too much SBD in the market, there's a system that diverts some of the rewards you'd normally get in SBD to Liquid Steem. That both increases the amount of Steem and reduces the amount of SBD, and thus reduces the Steem-SBD debt ratio.
This is what's going on here. A portion of the SBD reward instead gets translated to "equal value" (but actually less, for that, read the in-depth explanation above) amount of Liquid Steem.
The preview is just not designed to show you these figures, alas. It's actually all translated VESTS, the actual denomination of all the rewards, shown nowhere...