Steem Dollars
SBD
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Steem Dollars (SBD) receives an overall score of 3.0/10, driven by structural issues, stalled development, and a severe failure of its core peg mechanism. SBD is designed to function as a $1.00 USD stable asset within the Steem ecosystem, but it currently trades at approximately $0.38 to $0.40 (a ~60% depeg), with no documented remediation plan. Active development is effectively stalled with no verified protocol updates since 2019, and the project carries a marginal market footprint ($3.3M-$3.9M market cap) with thin liquidity. Additionally, no dedicated audits exist for SBD, and CertiK lists audits as unavailable for the parent Steem network. Note that the Community Support section suffered from a data gap (insufficient SBD-specific data) and was excluded from the weighted average, with its weight redistributed across the remaining five sections. No qualifying red-flag cap was applied as the score is naturally below 5.0.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Steem Dollars (SBD)
Steem Dollars (SBD) is a blockchain-native, dollar-pegged asset native to the Steem social-media ecosystem. Originally created by Ned Scott and Dan Larimer, SBD was designed to serve as a stable unit of account with a target peg of $1.00 USD. The token features an elastic supply mechanism with one-way conversion into STEEM, alongside a built-in safety valve designed to cap total SBD debt at 10% of the Steem network's market share.
The project operates with a marginal market footprint, characterized by thin trading volume and a market capitalization between $3.3 million and $3.9 million. Active development on the protocol has stalled, with no verifiable technical milestones, governance proposals, or changelogs recorded since 2019 updates related to hardfork 21 and the SteemDAO. In addition, current team leadership and formal governance charters are undocumented in available records.
SBD is subject to significant structural and security risks, primarily centered on the prolonged breakdown of its core peg mechanism. The token has exhibited severe price fluctuations, trading from an all-time high of $19.02 to an all-time low of $0.2339, and currently trades at a discount of approximately 60% around $0.38 to $0.40 with no documented remediation plan. Additionally, there are no dedicated third-party audits for the SBD token, and public security assessments list audits as unavailable for the broader Steem blockchain.