Steem Dollars is the currency of the Steemit platform and is also known as SBD or Steem Backed Dollar. SBDs are smart contract designed to pay one dollars worth of steem every time when redeemed, hence being price stable. They are used as a way to reward for upvoted posts on the social media platform Steemit, which has enabled the users to create cash flow from content writing and earn influence by offering valuable content to the community. Users can spend these in the virtual economy or hold them and accumulate for a 10% return.
Steem Dollars aims to bring stability to the cryptocurrency world and
to the individuals who use the Steem network.