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RE: Here's why Steem's witnesses should start paying SBD interest - today
The witnesses can do it without any code changes/dev hours. If I understand correctly, each witness sets their own parameter (from 0%-100%) and the blockchain sets its interest rate to the median value. I believe that code changes/dev hours would be needed if the community wanted to pay interest only on SBDs that are held in savings.
Thank you for that info. This sounds fair and flexible enough, given there is consensus, probably that is much harder to achieve but then, there is the median value that reflects the witness sentiment.
I think generally SBD interest is paid only if SBD is staked at Savings?
How could regular users see this? Somewhere in the UI?
I believe SBD interest would be paid on all SBDs, regardless of whether or not they're in savings.
If I recall correctly, it used to be visible in the SBD section of the Steemit wallet. Not sure if that's been removed, or if it just disappeared because it's currently set to 0. It's also visible in steemdb.io, as "sbd_interest_rate".
That's interesting, as I was thinking only in Savings would bring interest.
I checked it today, thanks for the resource link, it is zero indeed. Unless it is greater than that and shown in the Wallet UI, it won't matter, I think, as there won't be any mass of accounts keeping SBD there, right?
Probably true for most of us. Most of the SBD is held in the proposal system and on the exchanges.
True too. I keep my SBD on HTX, as I purchase it there and currently there is no incentive to move it back to the chain. Also, I have to spend time to do withdrawal from the exchange and pay some minor fees too. Interest would change that though.