The idea of having 2 assets coupled by a third one (STEEM and SBD, coupled to USD) is interesting. If SBD would be a "first rang citizen", meaning it would be taken into account for the overall inflation of the system (which I understand it isn't) then interesting scenarios can happen.
One of them is "moving" STEEM into SBD, like burning STEEM and creating SBD. In this case, increased supply of SBD = lower price for SBD and decreased supply of STEEM = higher price for STEEM.
A sweet spot can be found for both directions.
Well that is what they are from the beginning. Just no one thought someone would buy a $1 giftcard for $7 ;) so the downwards pressure is pretty easy.
And SBD are part of the inflation. You can either get inflation paid out in SP or in dept SBD.
you mean "debt"?
yeah