STEEM Rewards News Flash

Today @sames came to our Discord to ask about an oddity in rewards: We are starting to get STEEM?

This is something that I've known is a possibility, and have documented it in this old post:
SBD Printing Walkthrough.

The relevant quote:

If the SBD's portion of the virtual supply exceeds 2 percent, we start to throttle the SBD production, and at 5 percent, SBD stops being produced altogether. (We get paid in STEEM instead).

As of last looking at https://steemd.com I found the following values:

SBD supply: 10,800,517.770 SBD
Virtual supply: 271,087,830.857 STEEM
Feed price: 1.974 SBD / STEEM

and the computation for debt ratio: 10,800,517.770 / 1.974 / 271,087,830.857 = 2.02%
(Edit: Now corrected, thanks @geekornered for pointing it out).

We've started to hit the point of liquid STEEM printing. Note if STEEM price goes back up, it'll reverse this trend. But for the moment, we are now at the point where SBD is slowing down its printing. As a proponent of the peg, this is slightly worrying. I wonder how the market will react. Actually, who am I kidding, the market knows jack squat about how any of this works anyway. We riding the BTC wave. Hold on to your pants (dress) folks!