It's time to take a look at setting up the SBD Open Window.
What is an open window?
- It is an account that has a bot running.
- One that you send Steem and receive SBD in an equal amount.
- 1 usd of Steem gets you one SBD. *
*4 day average used to prevent manipulation by all but the biggest whales.
This could be compared with converting, except that rather than burn the steem the way a conversion does, the Steem is put into the rewards pool.
I would propose that the variables be witness controled.
If market conditions exhibit the need to burn the proceeds rather than return them to stakeholders then the switch should be in the hands of 17 of the 21st witnesses.
What does this do for us?
- It gets us some of that sweet, sweet tether action.
- SBD is pegged to the dollar by anyone with a dollar's worth of steem, or that wants one and has SBD.
- Demand for Steem rises if there is demand for a tether substitute.
Instead of simply burning the proceeds from converting Steem, we add the option to pay ourselves more.
Proceeds from the window are inflation.
They distribute as normal inflation, 10% to witnesses, 15% to SP holders, 75% to authors.
Instead of pushing our inflation onto the market, demand can pull our inflation to equilibrium.
Steem is a DAO, dear reader, if we want it our way, we got to make it our way.
I'm too gruff to be political, gonna have to be one of y'all.
I've floated the idea past some witnesses and none have poked a hole in it.
Gotta be the messenger, if it's not the idea?
