Get the @sbdpotato proposal voted on the Steem Dao and help fix the peg faster in addition to reducing dependency on trending page posts.
Direct Steemconnect Vote link: https://beta.steemconnect.com/sign/update-proposal-votes?proposal_ids=%5B66%5D&approve=true
Proposal Info link: https://steemproposals.com/proposal/66
Now automated at 10-minute intervals, if there is STEEM present in the account the bot will sell it on the internal market for SBD at a max rate of 300 STEEM per cron interval, this rate can be adjusted in Config Vars.
Thereafter, all available SBD is placed into conversion automatically.
The code repository can be seen on this Github link.
If you would like to see the code in action, donate STEEM directly to @sbdpotato and watch the bot do its thing on https://steemd.com/@sbdpotato.
Feel free to follow the conversion progress via the links below:
In case you missed it; here is THE LINK to the intro post about @sbdpotato.
TLDR, you vote for @sbdpotato's daily posts and the rewards @sbdpotato earns will be used to purchase SBD on the internal market, convert it to STEEM (reducing the SBD supply) and then the converted STEEM will be used in a circular fashion to purchase more SBD - Rinse Repeat! That's basically it!
Today's SBD Price (Spot): 0.603 USD
Current Debt Ratio: 15.50%
Target Debt Ratio: 9.90%
Well firstly by voting this post you will be helping fix SBD to get it pegged to 1 USD again as it was meant to, this could also help bring the STEEM price up with it. There is a theory that the two are circular, a strong SBD gives support to healthier STEEM prices, perhaps due to positive sentiment in the network.
In addition to doing your part to improve the economy of the Steem network, you will also earn SP curation rewards from voting the post that hopefully get decent traction.
You can set the @sbdpotato account on autovote using a service like beta.steemvoter, by creating a stream to autovote the @sbdpotato account at around 4 or 5 minutes as per the screenshot below. There are also other autovoter services you can use if you prefer.
All images used a royalty-free, courtesy of pixabay.com.
As custodian of this project I, @thecryptodrive, will not derive any monetary value therefrom and undertake this under my duty as Steem consensus witness and ambassador.
When the @sbdpotato funds are no longer required to support the peg, they will be sent to @steem.dao where the community can then decide what they should be used for.
I hope the Steem community will embrace this idea of supporting the SBD peg by voting the @sbdpotato posts regularly, alone we are powerless, together we can bring about change.
Project owner @thecryptodrive, consider voting for his witness via this link!
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@berniesanders how are things going with randowhale? Last time we spoke you mentioned you were going to do something similar to @sbdpototo with it to help the peg. Could I ask you to help vote this proposal please https://steemproposals.com/proposal/66 and potentially remove your vote from the return proposal to lower the barrier.
PS, Thanks for voting my witness for the one week I needed it, it did not go unnoticed and I did appreciate it.
When this will be finished ? We should have more interesting posts than this.
Posted using Partiko Android
That burger looks amazing.
Posted using Partiko Android
Can someone explain me why do we actually need SBD at 1$ ? We got steem that has become widely used even in outside services. At an initial point, there was a reason for having third token - SBD, but now?
I suport the idea by voting, but don't understand its purpose in nowadays steem economy
!trdo or $trdo
I would prefer if the funds are sent to @null instead when this completes
Why isn't the account in "power down" mode?
sorry but let me clear my doubt, if you bought SBD from the external market and sell in for Steem at the internal market which is mean there is somebody bought the SBD from you. If the person who bought it sell that SDB again to the External market, then i wondering what's the meaning of this project?
Looks delicious 😋
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Additional vote #5
Congratulations @sbdpotato, your post successfully recieved 0.06239026 TRDO from below listed TRENDO callers:
This post earned a total payout of 44.256$ and 33.275$ worth of author reward which was liquified using @likwid. To learn more.