SBD issuance question

I am trying to look up how SBD are issued

My understanding is that:

sbd are issued at 50% reward for authors so long as the outstanding sbd are less than 2.5% of the market cap of steem (sbd are considered to be $1 even if exchange price is $10)
between 2-5% of market cap the issuance percentage goes down gradually. Ie at 5% no more sbd are issued as rewards
if there are more than 5% of sbd relative to market cap the the blockchain starts to pay less than $1 until 10% where it ceases to pay at all.
when sbd are created the corresponding steem for rewards will simply be burned and the sbd printed
when sbd are redeemed they are burned and steem printed

I wrote this all from rembering. But really im sure some of this is wrong and looking for some reference to look this up.

Any links are appreciated!

Update:
here some links from Dan (this one is old and does not answer my questions):
https://steemit.com/steem/@dantheman/steem-dollar-economics