When you request a conversion, the conversion rate is base on the median price in coming 7-days (sampled hourly).
So if the market expect a fall of 30% price linearly in next week, that means your SBD is expected to be converted at 15% discount from current price.
RE: SBD isn't broke: How SBD works on STEEMit
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SBD isn't broke: How SBD works on STEEMit
This could also be another reason for the price to be a bit lower. Again, howerver, SBD is not "broken"... it more needs to grow up and be tweaked a bit over time more than likely.
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