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RE: Why Payments In SBD Stopped

in #steemit6 years ago (edited)

1 - The SBD printing rate algorithm:

we need for that:

  • Steem Market Cap (virtual_supply), mutliplied by feed_price (so the final value of this market cap is in USD)
  • current_sbd_supply, in SBD, will call it 'SBD Amount'

The debt to ownership ratio in the Steem ecosystem: [SBD Amount] / [Steem Market Cap]

And this is how it's coded:

  • if the debt-to-ownership ratio is under 2%, printing rate is 100% SBD
  • if the debt-to-ownership ratio is over 5%, printing rate is 0% SBD
  • if it's between 2 and 5, the printing rate is: 100% * ( 5 - debt)/3

we can consider 2% being 100% SBD and 5% being 0% SBD, and everything in between a ratio, e.g. 3.5% debt means 50% SBD / 50% STEEM

Right now, the result of this operation is provided as a blockchain property, so you just get it with a single RPC call.

Also worth noting, this will change in HF 20, so the sliding from 100% printing to 0% printing will occur between 9% and 10% debt-to-ownership ratio (which means there will be a higher debt-to-ownership ratio across the STEEM ecosystem and the printing rate will decrease much faster, almost like a "kill switch").

2 - The price feed bias is a weighted average, so the fist 21 witnesses count more than the rest. You can still make use of this as a public signal, I did this a lot although I'm not even in the first 50.

Sort:  

None of the first 21 have set a "Bias (%)". The first ones are @pharesim (28), @raggaemuffin (32) and @abit (34)
bias.PNG

if it's not set it is implied to be zero.

Later edit: this is how it's looking on steemd.com:


Screen Shot 2018-08-18 at 3.32.08 PM.png