A while ago, @thecryptodrive launched the SBD potato to try and help fix the SBD peg to $1 with a simple and efficient concept. The account receives STEEM and SP through votes and beneficiaries, sell this STEEM for SBD on the internal market and then convert this SBD to STEEM.
During the conversion, the SBD is actually burned, and thus reduce the supply. Conversion takes 3 days, after which the process can start again with the newly generated STEEM, creating a snowball effect.
So far, @thecryptodrive was taking care of it manually, which was neither convenient for him nor very efficient.
I've written some quick opensource code to automate the whole process. A cronjob runs the code every 10 minutes to make sure STEEM is not sitting unused on the account.
What it does so far
- Check STEEM balance
- Sell all STEEM for SBD on the internal market
- Start SBD conversion
Next
Some small other features I want to implement when I ll have time. It shouldn't take long but well, Christmas is coming!
- Automatically claim rewards
- Power down
To support the initiative and help peg SBD back to $1, don't hesitate sharing beneficiary rewards to @sbdpotato!
@stoodkev
Founder of SteemPlus
Lead developer of Steem Keychain
If you think my contributions add value to the blockchain, please consider voting for me as a witness here.