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RE: Steem Dollars touched $0.73ea on Polo

in #witness7 years ago

The top 20 witnesses sets the overall network interest. It has nothing to do with their own interest.
If one witness sets it to 20% it doesn't make any change, but if all 20 top witnesses sets it to 5% it will make the network use 5% as the new standard.

You can see the current consensus variables on https://www.steemdb.com on the right side.

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I thought that with new version interest is only on steem- my fault.
Do we need to hold SBD just in our accounts or shift them to savings to get any interest?
is the current rate 6.8% for steem and SBD? if yes why does it always show collecting 0% APR

At the moment the interest is 0%
When there is interest, it will say so in the wallet on your account, and there is no difference if they are in your savings account or your direct access account. The interest set by the witnesses is only for SBD.

<p dir="auto">Interest for STEEM is set in another way. <h3>SBD Interest values can be found in the table labeled <code>Consensus State. <p dir="auto">Here you have<br /> <code>Account Creation Fee, <code>Maximum Block Size and <code>SBD Interest Rate

What does one need to do to get to witness status?