Steem Dollars

Steem Dollars (SBD) presents a highly critical investment profile, characterized by a fundamental failure of its primary use case and a stagnant development ecosystem. Originally designed as a stable-value instrument, SBD has failed to maintain its 1:1 USD peg, trading with extreme volatility that renders it ineffective for commerce or savings. The project is effectively in a 'zombie' state following the 2020 hostile takeover by Tron and Justin Sun, which resulted in a massive exodus of original developers and community members to the Hive blockchain. Consequently, active development is virtually non-existent, with code repositories showing only minor maintenance. The governance model is centralized under the controlling entity, negating the benefits of its DPoS consensus, and the project lacks formal security audits. While the Steemit platform retains some incentivized activity, the ecosystem is overshadowed by centralization risks and the superior performance of its fork, Hive. SBD currently functions merely as a speculative volatility token rather than a stable currency.