Regarding the outlook for steem and SBD, it would be great to get clarification regarding the way SBD is pegged to USD. My understanding is that the floor price is $1 but that there is no ceiling on how high SBD can go up to. Hence the run up to its price today of around $10. Is its price freely determined by market buy and sell forces, similar to steem?

Secondly, in reference to steem, does Cliff have any insight on the considerable uptick in daily trading volume that corresponded with this recent rally above the 2016 highs. Prior to steem's rise over $4 a few days ago, the daily trading volume on Coinmarketcap was around $6M. Today it's over $80M, and it was as high as $120M yesterday. Is this spike in liquidity a result of more exchanges offering the option to buy and sell steem?