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View ChartSteem Dollars (SBD) is a stable asset native to the Steem blockchain, designed to target a value of roughly 1:1 with the US dollar. It operates within the Steem ecosystem to reward content creators and facilitate social media transactions. It is a key component of the Steem platform, which rewards users for creating and curating content. Unlike stablecoins backed by fiat reserves, SBD is backed by the value and activity of the Steem blockchain rather than by physical dollars. Official website: steem.io; Whitepaper: steem.io/SteemWhitePaper.pdf.
Key Takeaways:
| Item | Details |
|---|---|
| Name (Ticker) | Steem Dollars (SBD) |
| Alternative Names | Steem Backed Dollars |
| Consensus Mechanism | Delegated Proof-of-Stake (DPoS) |
| Smart Contracts | Yes (via Steem blockchain) |
| Category | Stable Asset / SocialFi |
| Hash Algorithm | N/A (uses DPoS) |
| Block Reward | Varies (distributed to content creators and witnesses) |
| Max Supply | Not fixed by the protocol; data providers report differing figures (CoinMarketCap does not specify one, while some list ~9.8M) |
| Total Supply | ~9.8M SBD (CoinMarketCap / LiquidityFinder) |
| Circulating Supply | ~9.8M SBD (100% of total; CoinMarketCap / LiquidityFinder) |
| TPS | High (Steem can handle thousands of transactions per second) |
| Scaling Solution | DPoS with high throughput |
| Blockchain | Steem (native asset, not ERC-20/BEP-20) |
| Block Explorer | steemdb.io |
| Launch | July 2016 (first content payouts on July 4, 2016; start date listed as 2016-07-18 by Yahoo Finance) |
| Official Website | steem.io |
| Whitepaper | steem.io/SteemWhitePaper.pdf |
Steem Dollars was launched in 2016 as part of the Steem blockchain, developed by Steemit Inc., co-founded by Ned Scott and Dan Larimer (founder of BitShares, later involved with EOS). The project was launched as part of the Steem ecosystem to provide a stable medium of exchange for rewarding content creators and curators on the Steem social media platform. The development is now managed by the Steem community and its decentralized governance structure, with no single entity controlling the protocol. The team aimed to create a stable asset that could seamlessly integrate with the platform's reward system, allowing users to earn a predictable value for their contributions.
Steem Dollars is designed to target a value of roughly 1:1 with the US dollar. Per the Steem whitepaper, the STEEM/SBD conversion rate is adjusted slowly and in response to long-term average deviations rather than short-term market moves; the peg is therefore a design target, not a guarantee, and SBD has traded well away from $1. The conversion process is facilitated by the Steem blockchain's internal market, where users can trade SBD for STEEM. The DPoS consensus mechanism ensures fast transaction confirmations, with witnesses (block producers) validating transactions and maintaining the network's integrity. Steem runs on the Graphene architecture, where elected witnesses (block producers) validate transactions instead of miners, which is why there is no mining hash algorithm. The system also relies on the Steem Power (SP) concept, where users can lock up their STEEM tokens to gain voting power and influence over the platform's governance. New SBD enters circulation mainly through content rewards: authors are paid in a mix of STEEM Power and SBD, with STEEM Power making up at least 50% of the payout.
Steem Dollars stands out as a stable asset deeply integrated into a social media ecosystem. Unlike fiat-backed stablecoins like USDC or USDT, SBD is not backed by physical dollars but by the value and activity of the Steem blockchain. This makes it a unique experiment in decentralized finance (DeFi) and SocialFi, where the token's stability is maintained through community-driven incentives and market forces. Its value lies in its utility within the Steem platform, where it serves as a reward for content creators. Additionally, SBD offers fast and low-cost transactions, making it suitable for micropayments and peer-to-peer transfers. Because SBD is not backed by fiat reserves held by a custodian, it avoids custodian risk, but that does not remove principal risk: the peg is not guaranteed and SBD has historically traded far from $1, so holders can lose value.
Steem Dollars is primarily used as a reward token on the Steem social media platform. Content creators earn SBD for their posts and comments, which can then be used for various purposes within the ecosystem. Users can also trade SBD on cryptocurrency exchanges for other digital assets or fiat currency. Additionally, SBD can be used for peer-to-peer transactions, allowing users to send value quickly and cheaply across the network. Some users may also hold SBD as a store of value, given its target of roughly 1:1 with the US dollar. Governance influence on Steem comes from Steem Power (SP), obtained by locking STEEM; SBD itself is a reward and transfer asset rather than a governance token. Furthermore, SBD can be converted into Steem Power (SP) to gain more influence and earn additional rewards on the platform.
SBD is listed on several major cryptocurrency exchanges; check each exchange's official site for available spot pairs and verification requirements. Trading derivatives involves leverage and liquidation risk.
Cryptocurrency prices, including Steem Dollars, can be highly volatile. SBD has historically traded far from its $1 target — its all-time high was $22.34 (May 2017) and its all-time low was $0.2603 (Oct 2020) — so the peg should be treated as a design goal, not a guarantee. CertiK security rating: 3.3 (out of 5, per CertiK).
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
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As of right now, the live price of Steem Dollars (SBD) is $0.489578. Its market price fluctuates in real time based on overall supply and demand, and you can check the updated SBD to USD rate at the top of BTCC’s price page. In terms of market scope, Steem Dollars records a 24h trading volume of $0 (reflecting total buying and selling activity over the last 24 hours), with a total market cap of $4.798831M. Its current circulating supply stands at 9.8M out of a maximum supply cap of ∞.
The price volatility of Steem Dollars (SBD) is essentially driven by market supply and demand dynamics. Key factors behind its price movements include: 1) Global macroeconomic conditions and sentiment, such as Fed interest rate decisions; 2) Tokenomics, including the ratio of circulating supply (9.8M) to max supply (∞), as well as token unlocks and burn mechanisms; 3) Fundamental developments, such as ecosystem expansion, on-chain activity, and core protocol upgrades; and 4) Derivatives market dynamics, including leverage battles and liquidation cascades in perpetual contracts.
Looking at its historical price performance, Steem Dollars (SBD) hit an all-time high (ATH) of $22.3412 on 2017-05-17 20:25, representing the peak of market sentiment. Conversely, its all-time low (ATL) was recorded at $0.260297 on 2020-10-23 03:20. Note that historical highs and lows reflect past performance only and do not guarantee future price trends; investment decisions should always align with live market conditions and your personal risk tolerance.
When trading SBD futures on BTCC, technical chart analysis begins with identifying key support and resistance levels on 1D and 4H charts using historical price pivots. Next, apply MA/EMA indicators to gauge trend directions, alongside RSI (values above 70 indicate overbought conditions, while below 30 suggest oversold levels). Always validate breakout signals with the 24h trading volume ($0), as price breakouts accompanied by strong volume offer higher reliability.
Unlike spot trading where you can only profit from rising prices, BTCC’s SBDUSDT perpetual contracts support two-way trading. If you anticipate a price decline for Steem Dollars, simply log into your BTCC account with USDT margin available, navigate to the SBDUSDT pair, set your desired leverage and Take-Profit/Stop-Loss levels, and click "Sell/Short". Once the price drops to your target, close your position to lock in profit from the price difference.
Yes. BTCC offers flexible, high-tier leverage options for SBDUSDT perpetual futures, providing up to 500x leverage (maximum leverage limits may vary depending on liquidity). While leverage boosts capital efficiency by allowing you to control larger position sizes with less margin, it also amplifies liquidation risks proportionately. BTCC strongly advises using Stop-Loss orders to strictly manage risk when trading with high leverage.
Beginners and traders testing new strategies can switch to BTCC's "Demo Trading" mode with a single click on the App or Web interface. The demo account comes pre-loaded with risk-free virtual funds (such as 100,000 USDT). Powered by live market prices (current price: $0.489578), you can practice opening/closing positions, adjusting leverage, and setting TP/SL for SBDUSDT with zero financial risk.
Trading Steem Dollars (SBD) on BTCC requires just 4 simple steps: 1) Register a BTCC account and complete basic Identity Verification (KYC); 2) Buy USDT using fiat via credit card/express payment, or deposit USDT/BTC directly from an external wallet; 3) Navigate to the Futures section, search for SBDUSDT, and review its live price ($0.489578) and chart; 4) Select your margin mode and leverage, choose "Buy/Long" or "Sell/Short" based on your market outlook, set TP/SL orders, and confirm your trade.
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsement by BTCC regarding the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial adviser before making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BTCC is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning. Please also note that data relating to the above-mentioned cryptocurrency presented here (such as its current live price) are based on third-party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under BTCC’s control. BTCC is not responsible for the reliability or accuracy of such third-party sites or their contents.
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