Hi there, just wanted to explain what's going on. Steem Engine does actually have enough Steem to back all issued STEEMP. However, normally this is stored as savings in steem-peg so it can't all be withdrawn at once as a safeguard. When we noticed the higher than usual withdraw demand due to the upcoming Hive launch, we initiated a movement from savings to make the Steem on steem-peg liquid to cover withdrawals.

However during the time when the savings movement is pending, the balance doesn't show on the steem-peg wallet so it appears there is less Steem than there actually is.

To cover liquidity in the meantime, we temporarily moved some Steem in from another account.