Steemit Crypto Academy Contest / S22W4 [SUMMARY] : SBD and Stablecoins: Challenges, Opportunities, and the Future

in SteemitCryptoAcademy5 days ago (edited)

Introduction

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Edited with Canva

Dear Steemians,

Welcome to the fourth week of Season 22 of the Steemit Learning Challenge, featuring the contest “SBD and Stablecoins: Challenges, Opportunities, and the Future.” From January 6 to January 12, 2025, participants explored the critical role of stablecoins in cryptocurrency markets, particularly focusing on Steem Backed Dollar (SBD). This week’s challenge addressed the utility of stablecoins, the importance of stability mechanisms, the recent suspension of SBD deposits on certain exchanges, and the possible trajectories for SBD’s evolution within the Steem ecosystem.

With stablecoins serving as a hedge against cryptocurrency volatility, SBD’s functionality as both a transaction buffer and a reward system has drawn attention from traders, developers, and community members. However, the broader environment has highlighted the need to address persistent stability concerns, low liquidity, and the implications of centralized exchange policies on SBD’s future growth.

In this report, we provide an overview of the key insights presented, recognize outstanding contributions, and evaluate the overall quality of submissions received this week.


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Participation Statistics

We are delighted to announce that 13 valid entries were submitted for this competition. The broad range of perspectives, analyses, and strategic proposals reflects the community’s keen interest in stablecoin dynamics and the Steem ecosystem’s ongoing evolution.

Here is the breakdown of this week’s entries:

Total EntriesValidExcellentGoodAcceptableLow ContentAI-GeneratedInvalidPlagiarized
13131442200
  • 1 entry was rated Excellent, demonstrating a high level of depth, clarity, and innovative thinking around SBD’s stability and future use cases.
  • 4 entries were deemed Good, providing solid analyses, well-structured arguments, and thoughtful insights into SBD’s challenges and prospects.
  • 4 entries were considered Acceptable, meeting the basic requirements but leaving room for more depth or elaboration on key issues.
  • 2 entries were categorized as Low Content, requiring significantly more development and research to offer substantive value.
  • 2 entries were noted to be AI-Generated, which, although valid, highlights the importance of personal contribution, originality, and adherence to content guidelines.
  • 0 entries were invalid or plagiarized, reflecting the community’s commitment to high-quality, authentic content.

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Score Distribution

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Performance Distribution (%)

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Performance Evaluation

Overall, participants demonstrated a strong grasp of SBD’s role within the Steem ecosystem, showcasing analytical approaches to the complexities of stablecoins, and proposing strategies to enhance SBD’s utility and resilience. The following themes emerged consistently:

  1. SBD’s Unique Position in the Steem Ecosystem

    • Many authors underscored SBD’s dual function as a reward mechanism for content creators and a quasi-stable medium for transactions, highlighting how it differentiates from stablecoins like USDT or DAI.
  2. Challenges in Maintaining Stability

    • Participants addressed liquidity concerns, reliance on external exchanges, and peg volatility. Proposed solutions included algorithmic adjustments, community-driven liquidity pools, and enhanced transparency around SBD’s backing.
  3. Strategies for Broader Utility

    • Suggestions ranged from integrating SBD into decentralized finance (DeFi) platforms to using it for cross-border payments. Some authors also examined ways to expand SBD’s acceptance among merchants, bridging the gap between crypto enthusiasts and everyday consumers.
  4. Responding to Exchange Suspensions

    • With Upbit suspending SBD deposits for review, participants outlined tactics such as peer-to-peer trading, the use of decentralized exchanges (DEXs), or forming community-led liquidity solutions to reduce dependency on centralized platforms.
  5. Future Outlook and Adaptation

    • Several entries envisioned a sustainable model for SBD anchored by robust governance, improved algorithmic pegging, and real-world integrations. Authors emphasized that community collaboration will be key to refining SBD’s design and responding effectively to market shifts.

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Top 4 Winners

The following participants distinguished themselves by delivering high-quality analysis and actionable insights, reflecting depth of research and clarity of presentation:

RankingUsernameArticleScore
1@sahmieLink9.0/10
2@mostofajamanLink8.0/10
3@amjadsharifLink8.0/10
4@luxalokLink7.8/10

@sahmie claimed the top position with a score of 9.0/10, presenting a thorough exploration of SBD’s mechanics, the wider stablecoin market, and tangible recommendations for bolstering SBD’s resilience. @mostofajaman and @amjadsharif both scored 8.0/10, demonstrating well-researched content and practical strategies, while @luxalok also offered a thoughtful perspective, scoring 7.8/10.

We encourage all participants to review these outstanding contributions as models of coherent argumentation, research depth, and strategic thinking.


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Conclusion

The fourth week of Season 22 provided a timely forum for reflecting on the evolving role of SBD amidst growing competition within the stablecoin sector. Participants highlighted SBD’s strengths in fostering transaction stability and supporting content creators on Steem, while also underlining the urgency of addressing liquidity shortfalls, exchange dependencies, and algorithmic vulnerabilities.

As the cryptocurrency landscape continues to evolve, SBD’s trajectory will hinge on community-driven innovation, robust governance, and the capacity to integrate with emerging DeFi and real-world applications. By heeding the insights shared this week—ranging from decentralized liquidity pools to more transparent peg mechanisms—SBD can position itself as a resilient and widely adopted digital asset.

Congratulations to our top contributors, and sincere thanks to everyone who participated. Your collective efforts enrich the Steemit Crypto Academy and help chart the course for SBD’s sustainable growth.


Stay tuned for further challenges as we continue exploring critical issues in cryptocurrency and blockchain technology!

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@steemcurator01, о какой децентрализации идет речь? Хватит уже обходить стороной уникальные посты русских авторов. Два с половиной года полного игнорирования. Так и скажите прямо, что никто не будет поддерживать, а не играйте в эти кошки-мышки.
@rme, @steemchiller

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Я вижу то, что вы показываете, и разницу с нынешней таблицей победителей.
Я не знаю, что это за команда и был ли результат неверно рассчитан или это дискриминация.

Тем не менее, это мое личное мнение, что то, что уже было опубликовано, не должно быть изменено. Этого просто нельзя делать. Если немного изменить текст - хорошо, но не менять объявленных победителей.

Я искренне надеюсь, что это ошибка, и это расчет, и отчет о номере #4 не будет изменен позже. Конечно, это можно проверить, если пост и отчет были отредактированы, а примечания изменены после объявления.

Если у нынешнего №4 был более высокий балл, все равно требуется какое-то объяснение. Если бы на вашем месте был №4, он бы задумался об объявлении победителей.

Надеюсь, вы получите ответ. Если это похоже на дискриминацию, лучше участвовать там, где вам рады. Есть сообщества, где национальность не важна, а важны содержание, комментарии и активность. Как и вы, я испытываю дискриминацию, поэтому участвую только там, где нравится то, что я пишу и делаю, и не учитывается мое свидетельство о рождении. Steemit достаточно велик, чтобы делать то, что вам нравится, и мы можем объединить усилия. Из множества маленьких получается один большой. Сообщество Бангладеш работает хорошо, и их становится все больше. Сосредоточьтесь на том, что вам нравится. Пребывание здесь должно приносить удовольствие, а не стресс.

🍀♥️

Translation - deepl.com

@kouba01 - what is the situation with this?

 20 hours ago (edited)

@steemcurator01, I miscalculated the total points of user @luxalok to be 7.8, which the user himself pointed out to me in a comment this morning. Since the votes haven't been distributed yet, I corrected his score and thus the list of winners has been reviewed, and I think everything is clear in the previous comments.

Hi dear @kouba01,
you wrote this 2 hours after @greatketty said you changed the winners without notifying her! You also did not answer her.
Do you understand that this is painful and she feels uncomfortable because of this sudden change of winners?

It hope you will answer her and post an explaination why you changed the announcement and did not tell her. It might mean nothing to you but it does to her and the community.

Thank you and a good weekend.
🍀♥️

Dear @wakeupkitty, Thank you for your interest in the topic. It is really disappointing to have a name removed from the list of winners, but this is a different situation where someone else will be wronged in the topic, so I found myself in an awkward position and apologize to the user for what happened. My explanation to the moderators was clear, so I did not respond twice. My apologies again to everyone and I wish her the best in future competitions.

Спасибо, больше не хочется. Я надеюсь, что все услышали ваши извинения. Мое имя так и не было отмечено при этом, ахаха.

The BIGGGG @greatketty. All my respect!

I understand the awkward position and the only problem here was you did not notified greatketty. Well, everything is clear now and we all are happy.
🍀♥️

Спасибо за заботу!)

Спасибо! Это было неожиданно и приятно!)

Congratulations to all winners.

Thank you 🙏 for this and congratulations to everyone who participated, we all are winners as it's a knowledge gained for us all. Thank you all once again.

Congratulations to all the winners here. You guys really deserve it.

А это так модно стало менять победителя, не сообщив ему об этом? Или опять причина - в национальном признаке? Вот отбивает все желание писать на Steemit дальше и вообще вести хоть какую-то деятельность.
@wakeupkitty.

Давайте подождем и посмотрим, каким будет ответ. Сейчас еще рано, и может быть разница во времени.
Важно ли рассчитывать на поддержку других, чтобы быть здесь, или мы можем построить что-то сами? Я скорее вижу это. Я надеюсь, что так и будет. Сам я не участвую в подобных конкурсах. Я не верю, что смогу чему-то научиться или что это будет полезно.
Дайте мне знать, если вы что-то узнаете.
См. мой другой ответ

🍀♥️