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RE: Boost Steem Value by Backing Steem Dollar

in #steemit • 8 years ago

Paying interest for holding SBD is a very good idea but I don't understand why people need to move SBD out of their account in order to get the interest. Three variables in get_accounts play a big role: sbd_seconds, sbd_seconds_last_update and sbd_last_interest_payment. Could you give a quick explanation how the interest is calculated from these three ? Thanks in advance.

8 years ago in #steemit by
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     8 years ago  

    I think you can read the code? Link is here: https://github.com/steemit/steem/blob/v0.14.2/libraries/chain/database.cpp#L3472-L3481

    basically,

    • sbd_seconds = your_sbd_balance * how_much_seconds_you_have_held_it, and
    • interest_you_earn = interest_rate_per_second * sbd_seconds

    last_update is there for better performance, to avoid computing the sbd_seconds increment on every new block.

    I agree that the need of moving SBD to get interest is not so good. I have an idea to automate the interest collecting work: https://steemit.com/cn/@abit/steem-dollar-compound-interest-collecting-bot