SBD is like tether or USDC. Its a store of value pegged to 1 USD. System always assumes SBD to be equal to one dollar no matter what the exchange rate is. This is the reason you can convert SBD for steem at pegged value even though its trading at .84$.
Now the reason behind it is simple. So you don't take money out of steem ecosystem. If you think that steem price is going to fall, you can sell your steem for SBD instead of dollar knowing that it will always hold its peg in the system.
Hope this helps.
sorry but this is not correct. At the current time you CANNOT convert 1 SBD for 1$ worth of steem.
I have 20 sbd lined up for conversion. It takes 3.5 days.
https://busy.org/@emrebeyler/let-s-save-the-sbd-peg
Yes and unless the price suddenly spikes up you will not get 20$ worth of steem.
Please read the article. Steem converts sbd at 1$ peg. Thr are multiple discussions on this and multiple tools
If you don't believe me here is an article from markymark link
Other than that there is not much point in discussing, let's just wait to see how much steem you get.
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That article is no information so i didnt quite understand how is conversion changed. Lets see how many steems i get.
As predicted you got less than 20$ worth of steem. For an updated analysis of the conversion mechanics and the problems please see this post
I can tell you right now out of personal experience the peg is closer to 0.8 USD as of right now and I am quite upset.