So from what I've noticed so far, steemit 50/50 payouts calculate the SBD value as $1 but use the exchange rate value for SP payouts.
So this means that if a post of mine got $7 payout,
I would get 3.50 SBD
And $3.50 worth of SP, which is about 0.50 SP at the current exchange rate. But if it was denominated in SBD, 3.50 SBD at the current exchange rate is equal to more than 4 Steem.
I think this is very confusing. Instead of half being in USD and half being in SBD, I think both should be calculated as per SBD value, as this would also be more profitable for stakeholders.
Posted on Utopian.io - Rewarding Open Source Contributors
It is very confusing at first. I still don't really get it! But once you dive in and learn the different exchanges and currencies, it becomes much easier.
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It is very similar to a contribution that was already accepted here.