Support Proposal #117: A Dual Burn Strategy to Strengthen Steem & Stabilize SBD
Support Proposal #117: A Dual Burn Strategy to Strengthen Steem & Stabilize SBD
The Steem ecosystem is taking another bold step toward long-term economic health with Proposal #117—a carefully designed, community-driven initiative to burn both STEEM and SBD using funds from the Steem Proposal System (SPS).
Following the success of the last 30-day controlled burn—which reduced the SBD supply from 9.1 million to 8.1 million and lowered the haircut price from $0.152 to $0.136391—this new proposal builds on that momentum with a more powerful dual approach:
- Burn STEEM to directly reduce the virtual supply and lower inflation.
- Burn SBD to further stabilize its peg and clean up excess supply.
Starting December 26, the proposal will withdraw 10,000 SBD daily (416.667/hour) from the SPS and route it to the multisig account @burndao.burn. From there, an automated, transparent script—developed by @moecki and tested by four top-20 witnesses—will:
- Buy up to 100 SBD worth of STEEM per hour on the internal market (capped at ¾ of available liquidity if needed) and send it to @null to be permanently burned.
- Burn all remaining SBDs each hour (approximately 316.667+ SBD).
- Return any unused funds to the SPS—ensuring zero waste.
Over 6 months, this mechanism could burn up to 1.8 million SBDs and/or their STEEM equivalent, representing ~22% of the current SBD supply.
Why This Matters
- Lower STEEM inflation = stronger value proposition for long-term holders.
- Reduced SBD supply = better path toward $1 peg stability.
- Full transparency: All actions occur on-chain and require 4-of-4 multisig approval from trusted witnesses.
- Community control: The script only permits three actions—burn STEEM, burn SBD, or return funds to SPS. Nothing else.
No participant profits from this proposal. It exists solely for the benefit of the Steem ecosystem.
If you believe in a healthier, more resilient Steem economy—vote for Proposal #117 today on Steemit Wallet.
Let’s burn wisely, grow stronger, and build confidence in Steem’s future—together.