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RE: Witness Petition: Do Not Abandon The Peg
"Unless SBD holders convert their SBD to STEEM and reduce the supply of SBD". Maybe I'm missing something, but when you sell your SBD for STEEM, it doesn't reduce the supply, it just changes hands, doesn't it? Or is there some other way of converting SBD to STEEM?
Correct. When you sell/trade SBD for STEEM on the market, it does not impact the supply of either token. However, there is a conversion function that produces STEEM and destroys SBD.
self correcting smart contract, nice