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RE: SBD Conversion

in #steem6 years ago

It is pretty clear once you look at the code.

               // This block limits the effective median price to force SBD to remain at or
               // below 10% of the combined market cap of STEEM and SBD.
               //
               // For example, if we have 500 STEEM and 100 SBD, the price is limited to
               // 900 SBD / 500 STEEM which works out to be $1.80.  At this price, 500 Steem
               // would be valued at 500 * $1.80 = $900.  100 SBD is by definition always $100,
               // so the combined market cap is $900 + $100 = $1000.

XD