Here is a post that goes into great detail about how it works. https://steemit.com/steem/@dantheman/introduction-to-steem-dollars-sbd
Basically what @randystiefer said.
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Here is a post that goes into great detail about how it works. https://steemit.com/steem/@dantheman/introduction-to-steem-dollars-sbd
Basically what @randystiefer said.