Follow some of the witnesses for the discussion. Sorry, I dont have a link handy.

And for clarification if i understand correctly sbd is supposed to be one dollar WORTH OF STEEM, not pegged to the dollar. So if steem is at 6 bucks usd you should be able to trade 6 sbd for one steem.

I could be wrong but on the wallet is says "sbd are worth one dollar OF steem".