Is the Dynamic Peg 100% decentralized or “pseudo-decentralized”?
BitBay’s Dynamic Peg is 100% decentralized. It is currently “obfuscated open-source” with intentions of making completely open-source in the near future.
Unlike many other stablecoins, it is a system that does not require any third-party custodians, auditors, or regulation to operate . It will never liquidate assets, because it doesn’t require collateral, and thus never requires a centralized entity to decide who’s assets to liquidate first. This monetary supply mechanism is purely controlled through consensus of the participants themselves, no matter how small or large their numbers.
Raw base-layer decentralization is imperative to the success, robustness, and security of the entire BitBay economy.
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