This may be a stupid question, but do you still accrue the 10% interest if your steem is in the savings account?
You are viewing a single comment's thread from:
This may be a stupid question, but do you still accrue the 10% interest if your steem is in the savings account?
this is very good question!
I believe so, I've actually seen conversations about making it so the 10% SBD interest only applies IF your SBD is in the "savings account" - though I'm not sure if that's part of this.
i support this. great idea!
Yes. Steem Dollars will accrue interest both in and out of the savings account. The savings account is a security feature.
why not make it -in savings account only - wouldn't that make more sense?
It will greatly hurt liquidity for one thing. SBD only has the value it does (and at present not even 1 USD) because of the interest being paid. If you remove all interest from unlocked SBD it becomes a toxic asset that no one wants to hold. To trade and provide liquidity you must hold unlocked funds. This is already an issue with STEEM; introducing the same issue with SBD would make matters worse. A small interest rate bonus on locked SBD might be okay though.
great points. thank you for the reply