SBD was never a stablecoin, there is no force down- or upside. never was.
it's a loosely pegged token. I'm still in favor of removing it completely
RE: How to "fix" the SBD peg
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How to "fix" the SBD peg
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Agree, SBD is a pointless and worthless complexity added to the system.
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That is one conclusion that I reached after the last HF
https://steemit.com/steem/@onthewayout/did-we-screw-ourselves-with-hf-21
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There is mechanics in place to influence on the market forces.
But since we have a debt ratio over 10%, the system is protecting STEEM price, avoiding the increase of it's inflation.
I detailed how exactly it works a bit more here: https://esteem.app/sbdpotato/@phgnomo/how-sbd-peg-actually-works-or-how-the-sbdpotato-conversions-won-t-affect-sbd-price
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