Since its inception a little over a month ago, the Hive account@sbdpotato project has received heartwarming support from the community, stakeholders and witnesses. The most recent support was provided by witness Hive account@stoodkev who donated his development time to the project to make it more efficient through automation.

The code repository can be seen on this Github link.

A cron job is set to run every 10 minutes on a Heroku free personal instance operated by Hive account@thecryptodrive and 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.

If you would like to see the code in action, donate STEEM directly to Hive account@sbdpotato and watch the bot do its thing on https://steemd.com/@sbdpotato.

Future iterations will auto-claim rewards and refresh power-downs weekly. For now Hive account@sbdpotato will use Hive account@minnowbooster to auto-claim rewards.

Thanks so much to Hive account@stoodkev for his contributions to the project and helping the Steem community, please consider casting a vote for the Hive account@stoodkev witness!

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Conversion Report

Now automated at 10-minute intervals, feel free to follow the conversion progress via the links below:

Individual conversions in progress can be searched here: https://steemdb.com/labs/conversions
Total conversions in progress can be seen at: https://steemitwallet.com/@sbdpotato

Vote for this post to help fix the Steem Dollar Peg!

In case you missed it; here is THE LINK to the intro post about Hive account@sbdpotato.

TLDR, you vote for Hive account@sbdpotato's daily posts and the rewards Hive account@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): 0.614 USD

Current Debt Ratio: 13.96%

Target Debt Ratio: 9.90%

What do you get out of supporting Hive account@sbdpotato?

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 Hive account@sbdpotato account on autovote using a service like beta.steemvoter, by creating a stream to autovote the Hive account@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.

Conclusion and Disclaimer

All images used a royalty-free, courtesy of pixabay.com.

As custodian of this project I, Hive account@thecryptodrive, will not derive any monetary value therefrom and undertake this under my duty as Steem consensus witness and ambassador.

I hope the Steem community will embrace this idea of supporting the SBD peg by voting the Hive account@sbdpotato posts regularly, alone we are powerless, together we can bring about change.

Sponsors

If you would like to have your banner featured on the daily posts, simply upload your banner in our comments sections and pledge to vote for Hive account@sbdpotato daily and/or include Hive account@sbdpotato as a beneficiary of your own posts!

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Market buy and conversion automation code provided by Hive account@stoodkev, consider voting for his witness via this link!

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VOTE @SBDPOTATO TO BRING BACK BALANCE TO THE FORCE!