That's a lot of SP that's not powered up and being used for voting as it was intended. I didn't realise so much was out there. They should delegate some to me so I can help deal with the spam and abuse :)
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It's a very interesting observation how much of the total supply of a token is being held liquid to be able to trade and provide liquidity to the market. I guess 20% of the total supply would still be ok, just in order to have a stable price.
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We probably need some trading, but all that Steem could do a lot of good in voting